ZoomInfo, (NASDAQ: ZI) reported GAAP Revenue of $123.4 million Grows 56% year-over-year (41% Organic Growth).
“We delivered another quarter of record results, as more customers than ever modernized their go-to-market motions with ZoomInfo’s data and insights platform,” said Henry Schuck, ZoomInfo Founder and CEO. “In the third quarter, we added a record number of new customers, drove record expansion with our largest clients, and launched new platform enhancements. With a model that combines durable growth and profitability and a team that is executing on all fronts, we are seeing momentum across all areas of the business. This momentum gives us even more confidence that we can capitalize on the many growth opportunities ahead.”
Third Quarter 2020 Financial and Other Recent Highlights –
- Revenue of $123.4 million, an increase of 56% year-over-year
- Sequential revenue growth of 10% as compared to the second quarter of 2020 (as adjusted for the relative days in the quarter)
- Allocated Combined Receipts of $123.6 million, an increase of 41% year-over-year
- Operating income of $18.4 million, or 15% of revenue, and Adjusted Operating Income of $58.5 million, or 47% of Allocated Combined Receipts
- Cash flows from operations of $53.0 million, and Unlevered Free Cash Flow of $59.8 million
Business and Operating Highlights:
- Launched ZoomInfo Engage, a sales engagement platform, designed to help sales teams maximize productivity by empowering them with an automated sales dialer, built-in email automation, and technology to manage and optimize sales workflows.
- Increased the size of the total addressable market by more than $5 billion to more than $30 billion through expansion into the sales enablement market.
- Grew our professional data set more than 30% since the beginning of the year, increasing the profiles under coverage to more than 132 million at the end of Q3.
- Announced the acquisition of Clickagy, a leading provider of artificial intelligence-powered buyer intent data. As part of the acquisition, ZoomInfo is launching real-time Streaming Intent, an innovative solution that identifies companies with above-average search volume on business-to-business (B2B) topics within minutes of their web activity.
- Announced the acquisition of EverString, a leading AI-powered business-to-business company data-as-a-service provider with industry-leading data coverage of small- and medium-sized businesses. This enables ZoomInfo to provide a more complete picture of the total addressable market for customers who target SMBs.
- ZoomInfo closed the quarter with more than 720 customers with $100,000 or greater in annual contract value.
The Company uses a variety of operational and financial metrics, including non-GAAP financial measures, to evaluate its performance and financial condition. The accompanying financial data includes additional information regarding these metrics and a reconciliation of non-GAAP financial information for historical periods to the most directly comparable GAAP financial measure. The presentation of non-GAAP financial information should not be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.