ZoomInfo Technologies (ZI) 47th Annual Raymond James Institutional Investor Conference summary

Business strategy and product evolution

• Focus has shifted upmarket, with upmarket business now 74% of total and growing 6% YoY in Q4; upmarket is more profitable and has higher retention, aided by new AI-powered products.

• OperationsOS, a DaaS product, is growing in the 20s percent YoY, surpassing $200M ARR, and is primarily sold to enterprise customers for territory planning and campaign design.

• Copilot ACV more than doubled in 2025, now over 20% of total ACV; Go-To-Market Studio launched mid-2025, with broader rollout starting in Q1.

• Progression toward a blended consumption model as seat-based revenue declines and non-seat-based products accelerate.

• AI-specific budgets are prioritized, with successful cross-departmental budget alignment and ELA motions for long-term investments.

Data strategy and competitive positioning

• Proprietary data asset is built from contributory networks, customer opt-ins, and exclusive licensing, enhanced by data science for enrichment and accuracy.

• Data asset is considered a strong moat, with limited risk of customers replicating it due to non-public sources and scale.

• Downmarket competition is fragmented with lower-cost, lower-quality players; upmarket sees less competition, with value placed on data quality, privacy, and compliance.

• Platform delivers significant ROI through improved data accuracy, time savings, and expanded pipeline identification.

Market expansion and customer dynamics

• Software remains the largest end market at 31–32% of mix, but diversification into finance, insurance, real estate, and transportation is underway.

• Adoption in legacy verticals is greenfield, with ZoomInfo often providing the first data and orchestration solutions.

• Growth is driven more by expansion within existing enterprise customers than by net new logos, with 1,921 customers spending $100K+ annually.