ZoomInfo Technologies (ZI) Q4 2025 earnings summary

Executive summary

• Achieved record Q4 revenue of $319.1M, up 3% year-over-year, and full-year revenue of $1.25B, with adjusted operating income margins of 38% for Q4 and 36% for the year, both exceeding guidance.

• Free cash flow per share grew over 10% for the year, with annual unlevered free cash flow of $454.9M, and more than $400M returned to shareholders via repurchases.

• Upmarket strategy drove 6% growth in Q4, with 1,921 customers exceeding $100K ACV, now over 50% of ACV and 74% of total ACV.

• Copilot AI platform now represents over 20% of total ACV after more than doubling in 2025.

• Announced an additional $1B share repurchase authorization, totaling nearly 50% of market cap.

Financial highlights

• Q4 2025 GAAP revenue: $319.1M (+3% YoY); adjusted operating income: $122.6M (38% margin); unlevered free cash flow: $135.2M (+44% YoY).

• Full-year 2025 GAAP revenue: $1,249.5M (+3% YoY); adjusted operating income: $445.9M (36% margin); unlevered free cash flow: $454.9M.

• Q4 GAAP operating income: $54.2M (+75% YoY); full-year: $225.7M (+132% YoY); Q4 net income: $34.7M; full-year net income: $124.2M.

• Q4 adjusted net income per share: $0.32; full-year: $1.09; Q4 diluted EPS: $0.11; full-year: $0.38.

• Repurchased 40.5M shares in 2025 for $407M; nearly $1B returned to shareholders over two years.

Outlook and guidance

• FY 2026 revenue guidance: $1.247B–$1.267B; adjusted operating income: $456M–$466M (37% margin); non-GAAP EPS: $1.10–$1.12; unlevered free cash flow: $435M–$465M.

• Q1 2026 revenue guidance: $306M–$309M; adjusted operating income: $105M–$108M; non-GAAP EPS: $0.25–$0.27.

• Guidance assumes no revenue from new products (GTM Studio, Workspace) in 2026, but includes associated costs.

• Upmarket mix expected to reach 80% by end of 2027.

• FY 2026 guidance projects stable revenue and margin performance, supported by continued share repurchases and data platform enhancements.