ZipRecruiter, Inc. (ZIP) Q1 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.700 The year-over-year decrease was driven by a soft hiring environment, while the sequential 00:00:04.700 -- 00:00:10.170 decline reflects post-holiday seasonality, where employers join or return our platform 00:00:10.170 -- 00:00:12.394 over the course of the quarter. 00:00:12.394 -- 00:00:17.503 We finished the first quarter with over 63,000 quarterly paid employers, which 00:00:17.503 -- 00:00:22.424 was flat year-over-year and represented a 7% increase sequentially. 00:00:22.424 -- 00:00:27.590 Quarterly paid employers remaining flat year over year in spite of macroeconomic volatility 00:00:27.590 -- 00:00:30.974 demonstrates the stability of our employer base. 00:00:30.974 -- 00:00:36.160 The sequential growth is consistent with our historical seasonal patterns where quarterly 00:00:36.160 -- 00:00:41.487 paid employers typically grow over the course of Q1 after the holiday slowdown 00:00:41.487 -- 00:00:43.890 in Q4. 00:00:43.890 -- 00:00:50.117 Revenue per paid employer was $1,698, down 2% year over year 00:00:50.117 -- 00:00:52.310 and down 10% sequentially. 00:00:52.310 -- 00:00:56.674 The year-over-year decrease reflects more muted hiring demand. 00:00:56.674 -- 00:01:01.039 The sequential decrease was primarily driven by seasonal growth in the number of quarterly 00:01:01.039 -- 00:01:07.085 paid employers as they ramped up their hiring campaigns over the course of Q1. 00:01:07.085 -- 00:01:09.908 Our net loss in the first quarter was $4.7 million. 00:01:09.908 -- 00:01:11.390 Adjusted 00:01:11.390 -- 00:01:16.975 EBITDA in Q1 was $9.7 million, representing a 9% margin 00:01:16.975 -- 00:01:20.103 coming ahead of the high end of our guidance range. 00:01:20.103 -- 00:01:26.190 This compares to an adjusted EBITDA margin of 5...