Vimeo, Inc. (NASDAQ:VMEO) Q3 2024 Earnings Conference Call November 4, 2024 5:00 PM ET
Company Participants
Philip Moyer - CEO
Gillian Munson - CFO
Conference Call Participants
John Blackledge - TD Cowen
Tom Champion - Piper Sandler
Youssef Squali - Truist
Operator
Hello and thank you for joining Vimeo's Q3 2024 Earnings Live Q&A. 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 other 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've 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 on our Shareholder Letter 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, Philip Moyer. Philip?
Philip Moyer
Thank you for joining us on our Q3, 2024 live Q&A video call. I'm hoping the highlights of our Vimeo REFRAME conference give you a sense as to why we are so enthusiastic about the market and the company that we're a part of. It's an exciting time for video, and Vimeo is better positioned than ever to support customers in their strategic video communications.
A huge thank you to our new Chief Marketing Officer, Charlie Ungashick, and his team for putting on such an impactful and customer-focused event. We're looking forward to building on our compounding momentum, and working to return Vimeo to growth.
And with that, we'd be happy to take your questions.
Question-and-Answer Session
Operator
Our first question comes from the line of John Blackledge at TD Cowen. John?
John Blackledge
Great. Thanks. A couple questions. So the 3Q Enterprise revenue, and bookings were above our estimates. Could you just talk about the key drivers of the Enterprise momentum in 3Q, and as we rounded to 4Q and looking out into 2025?
Philip Moyer
There's a couple of things, I would say. Thank you for the question. We're really excited about the Enterprise business. Increasingly in the consumer marketplace, video has arrived for consumers and it's arriving right now for the Enterprise. We like to say that on the public Internet, it's about 82% of all the Internet is video. And we see that exact same trend coming into the Enterprise.