Vimeo, Inc. (NASDAQ:VMEO) Q3 2022 Earnings Conference Call November 3, 2022 8:30 AM ET

Company Participants

Anjali Sud - CEO

Gillian Munson - CFO

Conference Call Participants

Bill Kerr - Cowen

Tom Champion - Piper Sandler

Brian Fitzgerald - Wells Fargo

Operator

Good morning, and thank you for joining Vimeo's Q3 Earnings Live Q&A. We're excited to be here in front of you. Before we begin, a few comments. First, Vimeo's Q3 shareholder video will be available on the Vimeo Investor Relations site. Second, we will discuss Vimeo's outlook and

future performance. These forward-looking statements typically may be preceded by words such as we expect, we believe, we anticipate or similar such statements. These forward-looking views are subject to risks and uncertainties, and our actual results could differ materially from the views expressed in this video.

We have also provided information regarding certain key metrics and our non-GAAP financial measures, including certain forward-looking measures. These should be considered in addition to and not as a substitute for or in isolation from GAAP measures.

Additional information regarding Vimeo's financial performance, including reconciliations with comparable GAAP measures, can be found in our earnings release and Vimeo's filings with the SEC as well as in supplemental information posted on the Investor Relations section of our website.

With that, I'll turn it over to our CEO, Anjali.

Anjali Sud

Hi, folks, and welcome to our Q3 earnings Q&A. We are trying something new this quarter. Last night, we published an interactive shareholder video. It's our version of the new shareholder letter using Vimeo's product. Gillian and I were able to record our updates from our respective locations, me from the Vimeo HQ in New York and Gillian from her [Barnet] office in Vermont. We then stitched the video together and added our new interactive features, so you can engage with the content however you want. We hope you enjoy the experience. We are experimenting. So take the poll at the end to give us your vote on if you like it.

There are three things I want to call out from the quarter. First, we are seeing exciting momentum in Vimeo Enterprise, including growing net revenue retention to over 100%. Second, we are executing a strategic evolution in our self-serve offering to better serve higher-value business users. While self-serve is dragging our growth in the near term, we believe it will be a valuable and profitable grower in the long term. And third, our visibility is improving along