Business
ZoomInfo Announces Second Quarter 2023 Financial Results
GAAP Revenue of $308.6 million Grows 16% year-over-year GAAP Operating Margin of 19% and Adjusted Operating Income Margin of 41% Cash Flow from Operations of
About this update from Zoominfo Technologies Inc.
[{"type":"text","content":"\nGAAP Revenue of $308.6 million Grows 16% year-over-year\n\n\nGAAP Operating Margin of 19% and Adjusted Operating Income Margin of 41%\n\n\nCash Flow from Operations of $116.7 million and Unlevered Free Cash Flow of $121.5 million\n\n\nAnnounces $500 million Share Repurchase Program\n\n\n VANCOUVER, Wash.--(BUSINESS WIRE)--\nZoomInfo, (NASDAQ: ZI) the go-to-market platform to find, acquire, and grow customers, today announced its financial results for the second quarter ended June 30, 2023.\n\n\n“In Q2 we delivered another quarter of revenue growth, increased profitability, and free cash flow generation,” said Henry Schuck, ZoomInfo Founder and CEO. “Today we help more than 35,000 businesses use the data, insights, and workflows in the ZoomInfo platform to engage with customers and win faster. Businesses in all industries are leveraging our platform as an integral part of their technology stack to modernize how they go to market.”\n\n\nSecond Quarter 2023 Financial and Other Recent Highlights -\n\n\nFinancial Highlights:\n\n\n\nRevenue of $308.6 million, an increase of 16% year-over-year.\n\n\n\nOperating income of $59.6 million and Adjusted Operating Income of $125.6 million.\n\n\n\nGAAP operating income margin of 19% and Adjusted Operating Income Margin of 41%.\n\n\n\nCash flow from operations of $116.7 million and Unlevered Free Cash Flow of $121.5 million.\n\n\n\nBusiness and Operating Highlights:\n\n\n\nPartnered with Databricks to deliver ZoomInfo’s comprehensive business-to-business (B2B) data directly to customers. ZoomInfo’s Data-as-a-Service (DaaS) can be accessed within the Databricks Marketplace, an open marketplace where teams can exchange data assets.\n\n\n\nEarned a number of industry accolades from TrustRadius and G2. ZoomInfo was recognized with seven TrustRadius top rated awards including awards for intent data, sales intelligence and conversation intelligence. ZoomInfo was also recognized with 28 #1 grid rankings and 128 leader ratings, winning recognition as the top enterprise solution in nine categories in G2’s summer 2023 report, which calculates customer satisfaction and market presence scores based on user reviews and additional data.\n\n\n\nDuring the three months ended June 30, 2023, the Company repurchased 2,847,121 shares of Common Stock at an average price of $21.99, for an aggregate $62.6 million, ...