ZipRecruiter, Inc. (NYSE:ZIP) Q3 2024 Earnings Conference Call November 6, 2024 5:00 PM ET

Company Participants

Andrew Haroldson - The Blueshirt Group, Investor Relations
Ian Siegel - Co-Founder & Chief Executive Officer
David Travers - President
Tim Yarbrough - Chief Financial Officer

Conference Call Participants

Ralph Schackart - William Blair
Josh Chan - UBS
Maggie Hoffman - JPMorgan
Glenn Shell - Raymond James

Operator

Thank you for standing by. My name is Mark, and I will be your conference operator today. At this time, I would like to welcome everyone to ZipRecruiter, Inc Q3 2024 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

I would now like to turn the call over to Andrew Haroldson, Investor Relations. Andrew?

Andrew Haroldson

Thank you, operator and good afternoon. Thank you for joining us in our earnings conference call during which we will discuss ZipRecruiter’s performance for the quarter ended September 30, 2024 and guidance for the fourth quarter 2024. Joining me on the call today are Ian Siegel, Co-Founder and CEO; David Travers, President; and Tim Yarborough, CFO.

Before we begin, please be reminded that forward-looking statements made today are subject to risks and uncertainties relating to future events and/or the future financial performance of ZipRecruiter. Actual results could differ materially from those anticipated in these forward-looking statements. A discussion of some of the risk factors that could cause actual results to differ materially from any forward-looking statements can be found in ZipRecruiter’s quarterly report in Form 10-Q for the quarter ended September 30, 2024, which is available in our investor website and the SEC’s website.

The forward-looking statements in this conference call are based on the current expectations as of today, and ZipRecruiter assumes no obligation to update or revise them, whether as a result of new developments or otherwise. In addition, during today's call we will discuss non-GAAP financial measures. These non-GAAP financial measures should be considered in addition to , not as a substitute for or in isolation from GAAP results. Reconciliations of the non-GAAP metrics to the nearest GAAP metrics are included in ZipRecruiter’s shareholder letter and in our Form 10-Q.

And now I will turn the call over to Ian.

Ian Siegel

Thank you, and good afternoon to everyone joining us today. ZipRecruiter continues to navigate a protracted labor market downturn. In Q3 2024 revenue of $117.1 million was down 25% year-over-year. Net loss in Q3 was $2.6 million, while adjusted EBITDA was $15 million, equating to a net loss margin of negative 2% and an adjusted EBITDA margin of 13%.