By Connor Hart
Shares of ZipRecruiter hit an all-time low after the company swung to a loss in the fourth quarter, dragged down by a difficult hiring environment.
The stock was down 20%, at $5.37, on Wednesday, marking a slight rebound from its earlier low of $5.29. Shares, which are currently on pace for their largest percent decrease in two years, have lost a quarter of their value since the beginning of the year.
After the bell Tuesday, the employment platform swung to a net loss of $10.8 million from a profit of $5.6 million a year earlier.
ZipRecruiter's quarterly loss of 11 cents a share was in line with the expectations of analysts surveyed by FactSet.
Revenue fell 18% to $111 million but topped the $107.7 million that analysts modeled.
The company operated against a difficult macroeconomic environment in 2024, plagued by persistently diminishing hiring across the U.S., company executives said in a letter to shareholders. Looking ahead, they said the company is entering 2025 cautiously optimistic that the labor market will improve.
In the first quarter, ZipRecruiter forecast adjusted Ebitda -- or earnings before interest, taxes, depreciation and amortization -- of $3 million to $7 million, missing the $10.7 million that analysts surveyed by FactSet expected.
It additionally guided for sales of $107 million to $111 million, ahead of the $106.2 million that analysts modeled.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
February 26, 2025 13:29 ET (18:29 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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