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View All NewsMay 20, 2021
Jobs website ZipRecruiter Inc. — in the process of going public with shares set to begin trading on May 26 —forecast second-quarter revenue will rise between 79% and 86% year over year, representing revenue of between $157.0 million and $163.0 million. The Santa Monica, California-based company also announced first-quarter results in a shareholder letter released this week.
“The macroeconomic outlook and the shape of the recovery remains uncertain; however, we believe that the economy is in the early phases of expansion after the Covid pandemic-driven downturn,” according to the letter. “In that context, our operating assumption is that, following a robust macroeconomic recovery in the first half of 2021, our growth will moderate in the second half of the year.”
ZipRecruiter’s guidance implies second-half 2021 year-over-year revenue growth of approximately 40%.
Looking back at the first quarter, revenue rose 10.7% year over year.
| (US$ thousands) | Q1 2021 | Q1 2020 | % change |
| Revenue | $125,372 | $113,292 | 10.7% |
| Gross profit | $109,411 | $98,820 | 10.7% |
| Gross margin percentage | 87.3% | 87.2% | |
| Net income | $13,398 | ($11,082) | nm |
ZipRecruiter launched its first television commercials in the first quarter, and co-founder and CEO Ian Siegel published the book Get Hired Now! The company also noted it has achieved 82% brand awareness.
In addition, the company reported that while employers have come back to the job market, workers have been slower to do so. It estimates that job seeker activity is approximately 20% below pre-pandemic levels. In estimating the 20% decline, the company cites US Bureau of Labor Statistics data that the US civilian labor force has fallen by 3.89 million since February 2020 and it cites data that online search for terms such as “find a job” are below the pre-pandemic peak hit during the week of Feb. 2, 2020.
ZipRecruiter anticipates stock will begin trading on May 26 under the symbol ZIP.
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May 21, 2021 at 12:17AM
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ZipRecruiter estimates second-quarter revenue to rise between 79% and 86% - Staffing Industry Analysts
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