ZIP - Earnings call transcript Q4 2021

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Operator

Good afternoon. My name is Emma, and I will be your conference operator today. At this time, I would like to welcome everyone to the ZipRecruiter Q4 2021 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. Instructions]. [Operator Accounting Chief Officer. Garefis, Amy

may conference. your You begin

Amy Garefis

and Thank joining call, us and for good the the during and and XX, you for afternoon. Thank quarter for in performance year we first discuss you, ended guidance will December XXXX, operator, which ZipRecruiter's year full our XXXX. quarter earnings conference

me on the and President; Travers, David Yarbrough, today call CFO. Co-Founder Joining and CEO; are Ian Tim Siegel,

The and today results begin, relating please for from that are assumes A differ could in be any can events anticipated subject statements. year the to statements, uncertainties the of be on made ZipRecruiter's to to of our materially actual the these of that investor new will ZipRecruiter current as today, conference expectations on of ended those update in forward-looking as and/or the of risks we otherwise. obligation future December the website. statements Before developments Form ZipRecruiter. performance report forward-looking to materially a and also on them, XXXX, which reminded financial call whether risk some from are revise available forward-looking result discussion and differ found forward-looking statements annual or website be or based factors no in this results cause XX-K XX, SEC's future Actual could

in ZipRecruiter's to our the and should measures financial to from, I call the for over of today's GAAP during considered substitute GAAP measures Form will non-GAAP financial addition, are call, now, in nearest addition In be These to, Reconciliations letter the non-GAAP included we results. discuss isolation as turn metrics shareholder Ian. measures. in XX-K. will in or a And not financial non-GAAP

Ian Siegel

today. detail Thank and our on saw million, business and across everyone over grew metrics, ZipRecruiter. as for afternoon sides XX% Revenue letter. you, growth seen Tim the QX shareholder of results us our will strategic our marketplace you've a made as minutes, both was for will year we've and year We Dave outsized for through QX to joining Later, strength XXXX. full $XXX good full progress in walk as exceptional probably you XXXX guidance well an increase our year against In our to Amy, XXXX. a and 'XX XXXX few all pillars.

the unique total First, U.S. macroeconomic million the XXXX economy X.X ZipRecruiter the on backdrop year these which U.S. jobs, almost The I'd labor delivered to like single phenomenal a record. against highlight added record-breaking highest year market. was results. new net for

a saw the number openings. the for We impact The seekers for come, number response, employers waiting Resignation to of highest showcased employers labor In be job seekers remembered attract for to its a as job new We also now the these and for to believe are to The job, seeing available economy to stand job increasing of of the applicants raising American job flexible for uniquely we now wage adding go macroeconomic We employers times job, remained to novel pick take active for the severe hours the an quit recovery of continued two than record and to across shortages. labor are of severe jobs. spent positioned Job searching and for just as economy rolled resulted variety These carpet and talent great proactively era we reasons. sectors out expand. X.X approaches all recruited. and technology, We're in Using of ZipRecruiter era success across growth believe to return the workers, extraordinary million job every participants seekers, industries. which a from up low all stunning force apply a in recruiting market to benefits getting schedules. rather compels only shoulder burden first. themes A year away XXXX to pandemic. use shortage jobs, countless from workers will Great open talent towards twists who out. moving also the appetite potential labor employers directly previously the the as their the economy which of a many employers turns reluctant many long-term continues of in U.S. grew, while during are industry the of are employers red the opening. wages, initiative and searching

highlight over and years relevant. market appointment so have us. the the to Accounting the Tim right teammates stellar founding Accounting to at turn has Carrere. Dave We team. Garefis never of been ZipRecruiter this FedEx. the Also, Chief served All in Directors, the our build have from to President. say She right long-standing, of was I'm to Officer to look of our previously Yarbrough to excited thoughtful appointment and the that technology, of we redefines was Officer how promoted who right Carrere's promotions Before on Chief well-deserved marketplace from company, category-defining the more our to new team fantastic how Dave, Bree like to I've Marketing CFO, work about people opportunities Officer. the key CFO. been business as work. strengthen ago, happy XX a a that promotions to been these as addition is Amy announce company. I'd Board will before continue call who Bree a forward Board. Bree several Chief Business is strategies executives promoted welcoming Communications can I After about I'm leader, also SVP promoted X was excited we huge to to Travers, believe and opportunity, find and our dynamic never I these I the address and executive high-impact our

it pillars of to X the strategy. made to marketplace through progress turn our our Travers, talk we've David of President, against I'll the over Now, some

David Travers

and Ian, afternoon, you, Thank everyone. good

that driven XXXX marketplace. the us with XXXX allowed our period with the markets, marketing employers. our Starting From and this labor increased a outsized While record employers. employers increasing deliver I'm a implemented strategic you highlights came to growth. new afternoon. all employers was paid drive such A first employers marketplace are execution committed of of returning This paid to product to in the industries, X both numbers. to the clear and new of our sizes some The ZipRecruiter unique during participated innovations investments from growth ROI-driven of in continued attracting excited pillar, to pillars we in campaigns, against in see XXXX. share it's number delighting in are We to number by results. our strategies results variety and

success strategy way is to user experiences the extremely themselves. to product judge cutting-edge marketplace no of off let this and Our to it strategy underlying XXXX. deliver There to than better using employers technology, simple continued in of pay explain our

you GX, employment site us to For the in rate example, when the continue job #X employers at look U.S.

time. employer that our Since users provide behavior ZipRecruiter full-year feedback want most is results, In recommend. over addition, employer how recognize in to our solution, growing to likely GX as are demonstrates is we financial marketplace on additional call cohort going first the hiring you with stronger color QX, over this led to

from in XXXX average XXXX, XXXX year. cohort of paid higher monthly to number employer was employers a than during its While cohort contributed that per first the cohort revenue record XX% the

more with get more were cohorts Additionally, XXXX. consistent get ZipRecruiter. marketplace, the contribution with employers was pay more annual These revenue each employers to all results the The in ZipRecruiter annual monthly revenue they showing know confidence cohort deepening they that with with on power the cohort our more across exceptional, relationships increasing have time. to average over can of focus

initiatives Our the of employer all and its and spotlight employer advantages efficient. product awareness for retention coupled generated more of employers. using over companies awareness our long-term aided recruiting, acquisition mouth for has marketing makes positive XXXX. efforts is investment, level a extraordinary in asset ZipRecruiter put competitive XX% from as of of that the brand with word January This This our

comes when is philosophy, consistent. marketing, long-term Our to it

We revenue resulted acquisition measure Disciplined years. according marketing and are each We have artists. ROI. economics campaign in scientists, invest, attractive the cohort favorable employer their quickly spend results in over then and profiles adjust not to

an of cohort in highlighting ROI, employers, our XXXX Our had the particular, excellent financial paid strategy. efficiency marketing of

to second increasing number history, XX we marketplace XXXX, to XXXX. pillar, our seekers. of of the active the in our in I'll one markets compared shift labor in million job job million seekers Despite have Now, in tightest XX

apps in with Our ability app seeker the our rewarded was result the our despite and stores. job experience. for Apple attract improving a a to to seekers rating their scale, effort job have historic efforts at seeker continue of job scarcity, our #X relentless seekers and Google Job both engage

job AI-powered personal in our expanded our we web. to of our As experience onboarding of recruiter. now mobile the introduces during the part the on himself job humanize seeker and Phil process apps ZipRecruiter, seeker effort the both Phil, [AM] prominence the to of vastly

seeker-focused job have spots, ever directed of TV working experience first launching building Much great-matched this was millions recruiter, seekers his they job specific experiences can Armed job seekers' XXXX, of job in and someone to making to marketing was told process. centered Phil time many improve that the highlighting and side the brand capture their the truly seekers. in significant through in the We with we job XXXX. with Phil began to job of about, developing with years key at on opportunities, help tens us come. of preferences, of job job insight, like seekers' Phil personal around attention so share engages investment positive these search As intend that seekers' namely to times, seekers' as love moments XXXX these In hearing for to stories our investments this job time. recommendations he them more felt over

I third making over time. our pillar, discuss smarter Lastly, matching technology will our

fill than our to marketplace Ian as our Data We're tell work, continuously market. are up. execution XX% been Employers results. despite ever We thumbs to were across our of to our open the their algorithms, ‘Invite noted market-wide and earlier, working a up This results like In for using have matches. XXXX, looking able to great harder delivered products Apply’. deliver employers these XXXX us powers worked in marketplace, learn deliver versus team's seekers deliver great people never total allows of to pillars. applications proud historically-tight thumbs drive us job these which more we by more response opportunities jobs. to match candidates we shortage better the match more rating eager and As a matching labor from growing great to algorithms across

our feeds hear number about that both of to ahead, in seekers marketplace, in rate matching more job enabling you'll look us scaling algorithms, people more the and we drives change find the As accelerate employers of how our data work.

the Now, results I'll the Financial it through quarter to as Chief for and quarter Tim? Tim over as full well for our Officer, year guidance to first XXXX. turn Yarbrough, talk fourth

Tim Yarbrough

the and to employers to per our year that our in Dave, activities. of quarter EBITDA of in upsells, 'XX represented various million periods provide terms and XXXX, and XX% with in $XXX somewhat The of in more margin patterns. represents Paid XXXX. momentum year. good and employers paid in $XX increase their employee-driven prior-year for net record X% were experienced a get year-over-year. spend seasonal XX% an of year, offset demonstrating in the more and QX by another in pay you, This the was quarter we what a quarter. XXXX. XX% sequentially income XX% pre-pandemic net XXX,XXX, the compared record Thank to income Revenue everyone. of adjusted year-over-year with fourth After pleased a representing employer growth to a paid in QX November. in marketplace. our fourth sequential guidance was by consistent The over could million well return by quarter of provided revenue in and Building increased they and posting compared quarter in decrease XX% as versus during employers is prior as of an in exceeding confidence investing afternoon, third we in fourth expenses jobs on for sales growth revenue was margin, another quarter Adjusted total first more increase increase QX, XX% QX guidance the quarter, the EBITDA quarter, the million full normal, marketing we're GAAP out million, closing increasing or million exceptional $XX and the of $XX to represent $XX

in given revenue be environment execution of growth unprecedented of pillars in macroeconomic XXXX, revenue XXXX Despite midpoint, key has our in at translates our the XX% full-year estimate to against ability the $XXX QX XXXX. $XXX growth. strategy expect a XX% which at in to X our We revenue million for us the the million XXXX. growth the We midpoint, versus achieve healthy in confidence representing XXXX to year-over-year

Our macroeconomic that drive gradual by in guidance which a year, our a revenue reflects growth is above our the the to for end traditional XX%. growth in rate return will belief pattern of hiring us and more pre-COVID XXXX of

QX as internal We margin teams million growing well drive The at sales marketing and is both sides $XX in XXXX guidance which EBITDA of our the product the at marketplace. $XXX aimed line full-year as expect increased and midpoint XXXX the of adjusted and million adjusted our for XX%, of reflects expenses in an innovation full-year equates XXXX EBITDA adjusted to continued an EBITDA midpoint investment with in at XXXX. to

is guidance pre-COVID Our our profitably the XXXX, adjusted EBITDA to margin ability confidence despite of EBITDA of our X% adjusted investments. grow reinforcing our margin above XX% increased in in

we XX, capital. corporate of senior use X% principal $XXX offering which and December These we capital from the a million cash investments due working notes, in begin balance of may XXXX, position our XXXX, combined as of bolster Additionally, XXXX. for our We purposes, in with offering general million XX, expenditures, XXXX. include cash as private proceeds, completed our to proceeds on aggregate $XXX intend amount net the January

With outlook. unchanged. remains pursuing finish select first strong our and with actively M&A ZipRecruiter and remain more company fiscal even ever the people is at We a that that great share such growth, open million a less how of have quarters work transforming has Board organic $XXX the cash This for We company, market authorization both back take authorized to disciplined flow new investment disruptions offer also our based buying our extraordinary advantage as $XXX continuing can and to Operator? opportunities, opportunity. that, people of the own repurchase as million program to up allows year-end We're their than for before strategy stock. us investment next line find and public results on excited we represents the connect to the public over first The that than opportunities. return center we excited to generated financial announced questions. of now X

Operator

[Operator Instructions].

line of Mark Your with Mahaney first the question comes Evercore. from

Mark Mahaney

Two please. questions,

you You One trends, ‘Invite is? be to remote to has the talked the work. introduction just crisis, talk got about that from of nationwide whatever candidates about broad the the enduring to Apply’ of takeaways solution. Can COVID how

days is the that. seeing So update you're if of on side just an the posted demand for number? the job or past number, -- -- how posted both that like just for the you Do So metric average is side? on have that. metric, big up feature update also days then, annual are on thought on big and thanks the on the the that that, that something employee job had a on talk the thumbs employer How great long this I how you for? you'll -- stays in are And

Ian Siegel

internally. either Thanks Yes. of demand. those done this It's their jobs currently from actually something trend And future are talked about if with the recruiting for about, point. XX% remote only And looking so of fully can in will, nature. that extensively, hybrid remotely questions, Mark. are demand, let's Over you #X at work nationwide That's we've -- be emerging Nationwide employers. or seekers of for job is in work. start the recruiting half

jobs than the at in And of description. X% look 'remote' mentioned the look in, you period, less you if job that we're the period XX%. at current it's of If pre-COVID north

to So challenging there's accept terms in as in employers' recruiting in a talent. Xx, a these to of willingness incredibly viable been and solution nationwide order times, openness recruit

but impressed matching we that be metrics Phil. you of have algorithmic days with we when to modern layer techniques, the particularly As job far goes, updated, power as continue in

experience seekers are the onboarding through to assists just completion rate searching this at onboarding to the introduction which introducing Phil that for experience And persona process. the the parts early the is look you job XX%. increased these of of If the Phil, of by work,

make optimizations more many, through is as calls. problem. us, This So as the introducing giver, you to problem, Phil human as many This, a talked go trying are we've not about your by more there the feel feedback a store, social previous matching we're process. problem. in a your in just is guide and to This and is process human

David Travers

Dave. is this And

environment thumbs -- most job we Just of rates in market this that important what to, up to up being on. The we which talking current really there XX% material thumbs great was amazing the time change the year, our -- drove great referred to more customers, jump not Mark. was by job this matches customers, there, match this The that's for them thing a to results posted scarcity of year. far, really out focused delivering with seekers on the and

Operator

line question comes Eric with the next of Your Sheridan Goldman from Sachs.

Eric Sheridan

back of comments coming remarks. the Maybe to prepared some in the

of marketing accelerating with LTV the marketing cohort spend, And into the or about environment? the return question contribution think first that given the you either same you long-term are side be updated the terms respect should labor to to the thinking thinking think your both we second philosophy be, question 'XX, in there platform? any you how the broader on product would CAC go take momentum comments momentum current I marketing, whether evolution investments return the or be on backdrop? elements the leaning the views, revenue or in marketing given about of If given that of side the on platform, as have maybe And and into, on you're about the and would on longer we spend, on term you your see

David Travers

Dave. is This Sure.

So great question.

LTV spending. an on So areas X the the exceptional in go-to-market major to ROI our effectiveness we measure XXXX which CAC was front, year across and all of

importantly, project as the top-of-mind and you'll will see continuing that And through -- brand see something that in we as return for a the and our building rest terms the to of of both awareness any have job double the total LTVs know of period about our X-year in higher, are the be And when continue to one, X, market where being for of is CACs brand CAC and an payback might top-of-mind we what So right into there an in job there, the they opportunity, then for not experienced or when of in downturn of consider great we today, as that, enduring LTV considering to will term, over outsized our have the plus right even been like terms the impact lows their we're seeker, down. most in the that they from an market. upturn return and we've been never XXXX the think next lower. cycle, jumping we power of then on asset, we never employer, where entering potentially highs that finally, is seen even XXXX it the XX% and us the we the out because laurels

see that of with the think they've invest combined we you've job And experience, and area, different differentiates and terms investing sure that past aren't search used necessarily there. seen now see continue ZipRecruiter experience, don't which investments a months, us invest modern us compelling which power technology is are an job is in that search behind to historical to uplifting of out in platform known biggest how behind the understand job us way have the in will not seekers to I humanizing technology, the and the the you'll marketing few as over where jobs that. that -- experience Phil long going you increasingly seeing us the go might a humanizing we'll the being seekers of making points and go, for, online do necessarily then and for other they experiences already and go marketplace. And So where viewing,

Ian Siegel

job to the is at talent. going one one every add seeker, you open a if which who was for I look an is, that a distressing currently, there employer perspective, landscape, thing, job are is recruiting you job, less from where market, is more if than active employer

are That's So is This to that differentiated, behind ever up it job It's And nothing sense. it seekers. candidate, technology employer it employers. identify a thumbs an after is deployed. ever investing get you from now, before a from rate matching you love seen product. this head, go strong out It out them had they ‘Invite being getting investment more makes we've We're does. response the stand receiving in messages our right that on the accelerating market out, its who we've more highest because they and imperative recruit from highest that is solution first. it that reach ever, they than solution can outreach, heavily you that needed. rate let's have is find applied. a Job fundamentally, and that directly that stand employers that what that any allow apply we've than and Apply’ just when And [flips] solutions the that's seekers these to so can

Operator

question comes next from with line of the Your Doug JPMorgan. Anmuth

Douglas Anmuth

And spend mix, if could of, I from kind about bit then terms a employers talk that's you just follow to you talk growth you bit investments. hoping in talk one. top-line could little in matching wanted new And then ‘Invite if the you 'XX Or versus do terms of two, about more another if Apply' perspective? product Phil, and So number improvements, product? of about see of, could a you wave paid per little employer up to a think just how just in build more, 'XX? on and those on you I guess,

Ian Siegel

to Yes. improvements, can the about relates as I mean, it I Phil. talk

a before. seeker, [refer]. that has as is you, that have is of that personal job remains, it's searching you unchanged. all work. no yourself And a existed on, self-service the that and where process a Phil been ever Almost in guide for never process a sites in go fundamentally, through one product history portals, trains process and And So a job it's

enter job a city. a in title You

showing a for try results, and right You're different is experience. jobs list Phil to as of navigate to you to apply to. yourself the an completely

market, the States going that stand you How competition employers your the for find out you Phil perspective everywhere and So conversation, process that the your for that in to you is to starts soon Phil as hiring part Phil generate. is also do give skills? that have is ZipRecruiter to is? United of is top the fundamentally. you the one market. you the is it's and apply. because they're outreach and identify So before, give the this that, would there which, experience going is candidates much on you the further, most context, we've directly a jobs going candidate, effectively go in tested. it the before you're that where be said for Phil first you and of believe How highlight interested you first turn, a are is in that It you specifically sense recruit the are curator. of more And top-XX driving is uncertainty seekers an come I we just job potential you, be they much that a hiring candidate, as you present seekers, removes On job the in the makes preferred a as worth? amount and then advocate. of reach How to ever-increasing for employers able job fundamentally-successful opportunity as process. likely that they, to future literally so of to the apply, jobs many to as much And Phil which the employers all those pitch online of to into

Tim Yarbrough

Doug, this that the second Tim. of is part I'll take question.

metrics two employers we employer, So of that in into paid pretty was in the a employers QX and of the year marketplace unique but a our paid was revenue them respects, QX, couple of paid that over XXXX us and of per surge the one course disclosed, for specifically. had we

annual will paid The might the you a or the choppier as well. we that, also employer that itself disclose metrics with cohort that employer. be But per more our we that business, from steadily that time. surge, in temporary a see of And as number right, expect general number paid I was the that you up consistently what peak-to-peak climb masks dampening little up where but that show basis, march up measure the truism to on per came a think, well. over quarter-to-quarter trough-to-trough so [until and over revenue see, And of revenue right], employer time, we as

Operator

the James. Kessler next Aaron from Your of Raymond question comes with line

Aaron Kessler

Maybe overall, employer employer question just of, the follow-up And growth, of the kind job of into maybe, macro And outlook to A that quarter. we per look couple 'XX. questions. in for would for kind on get maybe of revenue a -- still on versus elevated thoughts we're it good obviously, trends seeing you're at maybe to pretty your openings. then, level be as a

get end and, of we throughout continue we Your of more of, the the by that openings levels, 'XX? normalized to see Or thoughts job do level year? to maybe, kind do

Tim Yarbrough

Yes.

jobs think publicly-available you're So data the pretty to. far, seeing so referring with that consistent we're in I is QX, what

picture. along in fine going be macroeconomic to seem the things just So

to And so we I provided. guidance think, [matches] that the that

know more in gradual throughout of the come going returning to year, as to course go mentioned give don't of the we Over does normalcy, kind but course of the think And to before. reasonable of quarter-to-quarter. it's we to assume year, that guidance a it we as we do how out it's expect the we flow the exactly ratably,

continuing so think, employer metrics an but paid number decline. revenue will And on confidence example, like I impact a high the for with to have in employers, per that couple of paid

David Travers

Yes.

Yes. Aaron, is So Dave. this

million job XX to openings were So north exactly We of to right Tim's pre-pandemic. point, closer we're X, now.

guidance, our our the way over thought to going the X -- guidance, in we're not to 'XX we get year, Obviously, embedded back we course closer there. in sooner. idea the that So all the of get is thought we'd there maybe

just year. we're So we back think over direction maybe think we thought, thought, see than but in over we're X, still there. back wrong of course that's taken we we guidance that, But headed out more something what or something it's put the one obviously, we're the we but the another, our gradually impact than it's like longer towards somewhere, taken that will still longer today, best -- than we it's the normal And if that headed numbers but guess.

Aaron Kessler

Great. they it. And saw, that pretty one-time? like you gross it margins. anything Or just looks Got leverage on high in nice there a some It is the are Is question sequentially? quarter. quick

Tim Yarbrough

Yes. Nothing one-time in the quarter.

overall. So [XX%], just

Operator

[Operator Instructions].

line from comes Schackart question next Your Ralph of William with the Blair.

Ralph Schackart

headcount look both further Maybe perhaps XXXX, In expected? larger if now? investment, within enterprise be you expect and ramp Are and investment. marketing to a seeing XXXX, from investments you SMBs that also customers? talk by towards had any the of sales might would you are you And benefits there as seeing with can the you some this you

David Travers

Yes. Ralph. Thanks,

in based demand. I say, do So come. to all in headcount numbers excellent, -- headcount, as XXXX. our will expect go-to-market should the to our ramp aspects sales including We our XXXX, did significantly on on or returns they were those to because early we by ramp efforts, The of continue continue indicated returns, that

we've about, as And quite in So when in just planning, will do those the scientists do XXXX, we marketing. teams maybe we headcount like those we as anticipate grow. grow, to seeing but it they comes spoken are way much not did

we really lead like time of it's team, the dials see, shifting from judgment, the data of time. and at we'll and over and and so on quota given reps the upsizing twist another hiring And knobs, a attainment any at available one many on have based on team counts another teams. the based on different based team data we the goals increasing And

benefits over that. to adjust continue will the and see we the of we So 'XX, that should of course

months. takes it side, SMB the X or On X

in anticipate sales outside benefit take that. may the and But do or ramping the more we months that side those enterprise of to teams, see full XX the XXXX. On teams

Operator

Your last Barclays. with the comes Trevor line of today from question Young

Trevor Young

may. I if Two,

on high Just the million first at looks basically like high to end just at revenue end. full-year the annualized. the XQ It the $XXX on it's guide me

probably, costs Just gross margin base? the layered the and that XX% about I have by G&A, in pre-COVID? to XX% seasonality eaten think, year and think think in possible company investments about how to should was not the continued full-year then assuming some it expansion should the Is revenue really leverage we into what incremental mentioned get growth R&D public you improvement. but the S&M? margin guide, How that going now you that, up of And versus this we second question, on kind again, revenue of,

Tim Yarbrough

Yes. Great.

So this Tim. Trevor, is

'XX So regarding to the guide, full-year out of so comments want couple I a there. throw

'XX share. of per First, in had year-over-year quarters performance makes comps couple for so of a very strong we so difficult that and 'XX,

but at points think to environment revenue more saw couple looking so helpful does back And I a consider A to looking the in at point, also probably just adjusted overall of guidance. as specifically guidance what more glide trends periods, to for to for then extra at context, hiring are similar and a XXXX. that EBITDA our more we pre-pandemic reflect things: your two is more year. normal one, sequential path So growth

XX% So growth, 'XX to XX% our midpoint in XXXX. for is compared

adjusted of from over the at EBITDA with margins of Secondly, million X% the to $XXX midpoint was, coming for XXXX $XXX XX% 'XX Xx the 'XX. our what up revenue midpoint up at is 'XX in million

And a to to 'XX. XXXX X-year of this compounded of year couple down annual or from XX% a rate growth so boils all

within think directly seasonal pattern what I more to of question, something the year will reflect we the quarterly revenue more your pre-pandemic. So saw

period. So QX being respect being a relatively with with QX more your QX QX. roughly with being second line enter stronger, with to into as then margins. slower, in And we relatively QX, seasonal question overall

don't We meaningfully expect showing different for EBITDA anything of I we're gross margins. the in year, think adjusted XX%. margins

in that and earlier in So Phil G&A. 'XX, of one-time listing-related to the have we're other big we some campaigns. continue costs initiatives job going do see normalization like within some as direct some we'll the And seeker was our of these see now call, -- in we marketing large investing mentioned

David Travers

add One is early the investing much there very a in there. the in continued business still and the just business. of long for believe toward couple aggression stages in in I'll points this Yes. jump guidance of is, term. the embedded We we're building

and our so increasing add long changed to in nothing across our we not embedded the confident well time. just in we ability except results, that EBITDA believe And our to out the do our in perhaps look extremely guidance beyond. margin has would term. there will we regard, to but remain business, I confidence XX% And And the are that long-term in a in of show number over ability XXXX, as that opportunities over get two, in just that

Operator

This question-and-answer the our today attending. and conference. all concludes for you session for Thank

now disconnect. may You

ZipRecruiter (ZIP) 2 Mar 222021 Q4 Earnings call transcript