ZipRecruiter (ZIP) Q4 2025 earnings summary

Executive summary

• Achieved year-over-year revenue growth in Q4 2025 for the first time since Q3 2022, with Q4 revenue at $111.7 million, up 1% year-over-year, despite a 10% year-over-year decline in job openings and a challenging macroeconomic environment.

• Product innovation included the launch of Be Seen First, AI-powered screening questions, and enhancements to ZipIntro and the resume database, driving higher engagement and efficiency for employers and job seekers.

• Enterprise customer focus and performance marketing revenue growth offset softness in SMB demand, with enterprise revenue up and performance marketing revenue increasing 9% year-over-year in Q4.

• Leadership transition announced: CFO Tim Yarbrough stepping down, with President Dave Travers serving as interim CFO.

• Over 4 million businesses and 180 million job seekers have used the platform since inception, leveraging proprietary data for AI-driven matching.

Financial highlights

• Q4 2025 revenue was $111.7 million, up 1% year-over-year and down 3% sequentially; FY 2025 revenue declined 5% to $449.0 million.

• Adjusted EBITDA for Q4 was $16.2 million (15% margin); FY 2025 Adjusted EBITDA was $40.8 million (9% margin).

• Net loss for Q4 was $0.8 million, a significant improvement from a $10.8 million loss in Q4 2024.

• Ended Q4 with over 59,000 paid employers, up 2% year-over-year but down 12% sequentially.

• Revenue per paid employer was $1,889 in Q4, with a 12% CAGR since 2021.

• Cash, cash equivalents, and marketable securities totaled $409.1 million as of December 31, 2025.

• Repurchased 1.8 million shares for $8 million in Q4.

Outlook and guidance

• Q1 2026 revenue guidance is $106 million at the midpoint, down 4% year-over-year and 5% sequentially, reflecting a lower baseline of paid employers.

• Q1 2026 Adjusted EBITDA guidance midpoint is $5 million (5% margin), flat year-over-year.

• For full-year 2026, expects flat year-over-year revenue (vs. 5% decline in 2025) and Adjusted EBITDA margin expansion from 9% in 2025 to 14% in 2026.

• Management highlights a flexible financial model to respond to macroeconomic headwinds and maintain profitability.

• Growth strategies include expanding the employer and job seeker base, optimizing performance-based pricing, and building an enduring brand.