ZipRecruiter Inc. (ZIP) shares surged 7.88% in the after-hours trading session on Tuesday, following the company's better-than-expected fourth quarter sales results and an improved outlook for 2025 amid signs of stabilizing hiring trends.
The online job marketplace reported Q4 2024 sales of $111 million, down 18.3% year-over-year but beating analyst estimates of $107.8 million. For the full year, ZipRecruiter posted revenue of $474 million and an Adjusted EBITDA of $78 million or 16% margin. CEO Ian Siegel commented, "Despite the protracted labor market downturn, we enter 2025 with cautious optimism on improving revenue trends from both internal and external indicators." The company expects Q1 2025 revenue of around $109 million, an improvement from the sequential quarterly declines seen in 2023 and 2024.
While ZipRecruiter benefited from new product launches and M&A activity in 2024, the company faced headwinds from a difficult hiring environment amid economic uncertainty. However, management believes its marketplace is well-positioned to capture market share when hiring conditions recover, supported by ZipRecruiter's balance sheet strength.
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