ZipRecruiter, an online employment marketplace, reported a year of mixed financial performance and strategic business developments. For the year ended December 31, 2023, the company's revenue was $645.7 million, a significant decrease from the previous year's $904.6 million. Net income also fell to $49.1 million from $61.5 million in the prior year, while Adjusted EBITDA dropped to $175.3 million from $184.9 million. The company's Adjusted EBITDA margin improved to 27% from 20%. The decline in financial performance was attributed to a decrease in Quarterly Paid Employers and a challenging economic environment characterized by high interest rates and inflation, which led to reduced hiring activity and employer spending on recruitment. Despite these challenges, ZipRecruiter's matching technology delivered nearly 40 million Great Match candidates, a 24% increase over the previous...Show More

ZipRecruiter, an online employment marketplace, reported a year of mixed financial performance and strategic business developments. For the year ended December 31, 2023, the company's revenue was $645.7 million, a significant decrease from the previous year's $904.6 million. Net income also fell to $49.1 million from $61.5 million in the prior year, while Adjusted EBITDA dropped to $175.3 million from $184.9 million. The company's Adjusted EBITDA margin improved to 27% from 20%. The decline in financial performance was attributed to a decrease in Quarterly Paid Employers and a challenging economic environment characterized by high interest rates and inflation, which led to reduced hiring activity and employer spending on recruitment. Despite these challenges, ZipRecruiter's matching technology delivered nearly 40 million Great Match candidates, a 24% increase over the previous year. The company plans to continue aggressive investments in its marketplace to drive growth and improve functionality. Investments in technology, particularly in data science and machine learning, remain a priority, with $141.8 million spent on research and development in 2023. ZipRecruiter's future plans include further investments in sales and marketing channels to drive brand awareness and preference among employers and job seekers. The company also aims to grow the number of job seekers in its marketplace through various acquisition strategies.