Summary by Moomoo AI
ZipRecruiter, an online employment marketplace, reported a decrease in financial performance for the first quarter ended March 31, 2024. The company's revenue dropped to $122.2 million from $183.7 million in the same period last year, marking a 33% decline. The net loss for the quarter was $6.5 million, compared to a net income of $5.0 million in the previous year. Adjusted EBITDA also fell to $20.8 million from $35.3 million, with the margin slightly decreasing from 19% to 17%. The number of Quarterly Paid Employers saw a slight increase from the previous quarter, but overall, there was a decrease year-over-year. Revenue per Paid Employer also decreased in the quarter. The company attributes the decline in performance to the challenging macroeconomic conditions, including high inflation and interest rates, which...Show More