ZipRecruiter, Inc. reported a revenue of $110.1 million for the first quarter of 2025, a decrease of 10% from $122.2 million in the same period last year. The company experienced a net loss of $12.8 million, compared to a net loss of $6.5 million in the first quarter of 2024. The decline in revenue was attributed to a lower number of Quarterly Paid Employers, which reflects ongoing challenges in the labor market influenced by high interest rates and economic uncertainty. The company's Adjusted EBITDA also fell to $5.9 million from $20.8 million year-over-year, indicating a significant reduction in profitability.
In terms of operational metrics, the number of Quarterly Paid Employers increased by 10% sequentially from the previous quarter, reaching 63,466. However, the Revenue per Paid Employer decreased to $1,734 from $1,920 in the prior quarter, suggesting that while more employers are engaging with the platform, the average revenue generated per employer has declined. The company’s subscription revenue decreased by 12% to $85.4 million, while performance-based revenue saw a smaller decline of 4% to $24.7 million.
ZipRecruiter has made strategic moves to enhance its market position, including the acquisition of Breakroom, a UK-based employee review platform, for $13.3 million in July 2024. This acquisition is expected to bolster ZipRecruiter's offerings in frontline industries such as retail and hospitality. The company continues to invest in its technology and marketplace functionality, aiming to improve user engagement and expand its employer and job seeker base.
Financially, ZipRecruiter reported total assets of $629.4 million as of March 31, 2025, down from $664.1 million at the end of 2024. The company’s cash and cash equivalents increased slightly to $221.1 million, while marketable securities decreased to $247.1 million. The company has a robust liquidity position, with $286.6 million available under its credit facility, which remains undrawn. Looking ahead, ZipRecruiter anticipates continued investment in its marketplace to drive growth, although it acknowledges the potential impact of macroeconomic factors on its business performance.
About ZIPRECRUITER, INC.
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