Vimeo, Inc. (NASDAQ:VMEO) Q2 2022 Earnings Conference Call August 4, 2022 8:30 AM ET
Company Participants
Anjali Sud - CEO
Gillian Munson - CFO
Conference Call Participants
Cory Carpenter - J.P. Morgan
Brent Thill - Jefferies
Brian Fitzgerald - Wells Fargo
Justin Patterson - KeyBanc Capital Markets
Youssef Squali - Truist Securities
Bill Kerr - Cowen, Inc.
Thomas Champion - Piper Sandler
Operator
Good morning, and thank you for joining Vimeo's Q2 Earnings Event. We're excited to be here in front of you. Before we begin, a few comments. First, this session will be recorded and available on the Vimeo Investor Relations site later today. 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 today. 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
Good morning, everyone, and thank you for joining our Q2 earnings event. During the second quarter, we delivered year-over-year revenue growth of 16%, gross profit growth of 20%, and we made good progress on our near-term path to profitability, cutting our adjusted EBITDA loss sequentially by almost half. Stepping back, Vimeo is now a few years into an exciting transition into a software company that serves businesses, both big and small. And this transition is working. A few years ago, we were purely a self-serve hosting business, constrained by selling gigabytes of video storage to individuals. Today, our video platform is serving the needs of some of the largest companies and teams in the world. We've turned our self-serve roots into an engaged user base of employees who are using Vimeo daily. And we've built a sales force on top that's starting to gain real traction. We can see our market opportunity expanding in front of us, as our newest products, from Video Library to Vimeo Events to Vimeo Interactive, get to product-market fit quickly.