Vimeo net worth is a crucial indicator of its success in the ever-evolving video hosting industry. In 2024, Vimeo’s financial performance reflects its growing dominance, particularly through its SaaS offerings.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | Vimeo |
| Full Name | Vimeo, Inc. |
| Website | vimeo.com |
| Industry | Video hosting, SaaS |
| Traded as | NASDAQ: VMEO |
| ISIN | US92719V1008 |
| Founded | 2004 |
| Founders | Zach Klein, Jakob Lodwick |
| Country/Territory | United States |
| Headquarters | New York City, New York, U.S. |
| Chief Executive Officer | Philip Moyer |
| Number of Employees | 1,054 |
| Market Cap | $0.82 billion |
| Total Assets | $626.3 million |
| Total Equity | $397.9 million |
| Revenue | $104.4 million (Q2 2024) |
| Net Income | $10.1 million (Q2 2024) |
What is the Net Worth/Market Cap of Vimeo in 2024?
As of October 2024, Vimeo’s market capitalization is $0.82 billion. This positions the company among notable players in the SaaS sector.
While Vimeo’s net worth may not rank among the top-tier global giants, it remains a force in the video hosting space. Its success stems from strategic SaaS growth, serving millions of users and businesses alike.
Compared to other brands, Vimeo’s market cap is competitive, although smaller than some of the largest players in tech and SaaS industries.
For those interested in exploring similar high-value companies, here’s a list of notable peers:
Want to explore more? Discover how Vimeo compares with other financially powerful brands on the top-performing companies list.
Vimeo Financial Performance Overview
Revenue Growth and Key Drivers
Vimeo’s revenue has seen steady growth, reaching $104.4 million in Q2 2024. This growth was largely driven by Vimeo Enterprise, which showed a 55% year-over-year increase, now comprising 19% of total revenue.
This section of Vimeo’s business has been a key driver of its success, with substantial contributions from large enterprises such as Mazda, Goodyear, and the Church of England.
Vimeo has successfully positioned itself as a go-to provider for secure, high-quality video streaming for businesses globally.
Additionally, the Self-Serve & Add-Ons category remained important, contributing $68.6 million to the total revenue in Q2 2024.
Despite a slight decline in subscribers by 9%, the average revenue per user (ARPU) increased by 6%. This reflects Vimeo’s ability to maintain strong retention and capture higher-value users.
Operating Expenses and Profitability Trends
Vimeo has managed its operating expenses effectively, with GAAP operating expenses remaining largely flat year-over-year.
Non-GAAP operating expenses even decreased by 12%, reflecting Vimeo’s disciplined approach to cost control.
The company’s focus on efficiency is also evident in the reduction of headcount by 6%, alongside a significant reduction in advertising spend by over 50%.
This has positively impacted Vimeo’s profitability.
In Q2 2024, the company generated a net income of $10.1 million, an increase of $4 million from the previous year, along with Adjusted EBITDA of $16.3 million, marking an impressive $11 million year-over-year improvement.
Cash Flow and Liquidity Status
Vimeo’s liquidity position remains strong, with $311 million in cash reserves as of June 2024.
The company reported $20 million in cash from operations and a 55% increase in Free Cash Flow, totaling $20.3 million.
These figures demonstrate Vimeo’s solid financial foundation, which enables the company to continue investing in product development while maintaining a shareholder-focused approach through stock repurchases.
Employee Structure and Financial Implications
In 2024, Vimeo reduced its workforce by 6%, ending Q2 with 1,054 employees.
This headcount reduction helped manage operational costs, aligning with the company’s strategy to focus on efficiency and profitability.
Additionally, stock-based compensation rose to $8.4 million, a result of executive turnover in 2023, which significantly impacted the company’s financials.
Strategic Investments and Product Innovations
Vimeo’s future looks promising due to its focus on innovation.
The company is heavily investing in AI-powered video tools, including video translation with authentic voice cloning.
This technological advancement not only improves customer engagement but also drives higher revenue from enterprise clients.
Vimeo’s long-term strategy is clear—enhance its SaaS offerings to increase market share and retain its leadership position in video technology.
Shareholder Returns and Stock Repurchase Programs
Vimeo remains committed to rewarding its shareholders. As of August 2024, the company repurchased 4 million shares at an average price of $3.84, returning $16 million to shareholders.
This is part of an ongoing effort to reduce dilution from future share issuances, with $34 million still available under its current repurchase authorization.
FAQs about Vimeo
How did Vimeo perform financially in Q2 2024?
It reported $104.4 million in revenue and a net income of $10.1 million for Q2 2024. The company showed significant growth in its enterprise segment.
What drives Vimeo’s revenue growth?
Vimeo’s revenue growth is primarily driven by its Enterprise SaaS offerings, which have grown by 55% year-over-year. Large enterprises like Mazda and Goodyear have played a key role in this expansion.
How has Vimeo managed its operating costs?
The company has effectively controlled its operating expenses, with non-GAAP operating expenses down by 12% year-over-year. The company achieved this by reducing headcount and cutting advertising spend by over 50%.
What is Vimeo’s cash position?
As of June 2024, it holds $311 million in cash reserves. The company generated $20 million in Free Cash Flow in Q2 2024, up by 55% year-over-year.
What is Vimeo’s employee count in 2024?
At the end of Q2 2024, the company had 1,054 employees, down 6% from the previous year. This reduction helped lower operating costs and improve overall profitability.
Conclusion
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