Curious about ZoomInfo net worth and what drives its financial performance? As of 2024, ZoomInfo’s revenue streams are influenced by new product launches and enterprise expansion.
Let’s dive into the key factors contributing to ZoomInfo’s growth. Welcome to Ando Money, where we break down the financials of famous companies.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | ZoomInfo |
| Full Name | ZoomInfo Technologies Inc. |
| Website | zoominfo.com |
| Industry | Go-to-market platform |
| Traded as | NASDAQ: ZI |
| ISIN | N/A |
| Founded | 2007 |
| Founders | Henry Schuck |
| Country/Territory | United States |
| Headquarters | Vancouver, Washington, U.S. |
| Chief Executive Officer | Henry Schuck |
| Number of Employees | 35,000+ companies use platform |
| Market Cap | $3.79 billion (October 2024) |
| Total Assets | $6.68 billion |
| Total Equity | $1.86 billion |
| Revenue | $291.5 million (Q2 2024) |
| Net Income | $(24.4) million (Q2 2024) |
What is the Net Worth/Market Cap of ZoomInfo in 2024?
As of October 2024, ZoomInfo’s market cap stands at $3.79 billion. This positions ZoomInfo as a mid-sized player in the business intelligence sector.
While its market cap has seen fluctuations, ZoomInfo continues to hold steady compared to other similar companies.
Several brands operate in the same landscape, either as competitors or partners. Here’s a list of related entities:
- Salesforce
- HubSpot
- Dun & Bradstreet
- Oracle
- Google Cloud
- Microsoft
- Adobe
- Clearbit
- Demandbase
For readers interested in the ranking of the most valuable companies, check out our largest tech companies by market value.
ZoomInfo Financial Performance Overview
ZoomInfo‘s financial performance for Q2 2024 reflects a 6% decrease in revenue compared to the same period in 2023, bringing the total to $291.5 million.
This drop in revenue is partly due to adjustments in the company’s risk model, which impacted revenue recognition.
Despite these challenges, ZoomInfo implemented strategies to stabilize and grow its client base, particularly in the enterprise sector.
ZoomInfo’s net income for Q2 2024 resulted in a $(24.4) million loss, compared to a profit in the same quarter last year.
This shift is attributed to higher operating costs and incremental charges related to bad debt expenses and operational changes.
On a more positive note, the company’s cash flow from operations was robust, reaching $126.3 million, an 8% year-over-year increase.
Free cash flow remained stable at $120 million, highlighting the firm’s ability to generate cash even in a challenging environment.
Key Contributors to Revenue Growth
ZoomInfo’s new product launch – ZoomInfo Copilot, an AI-powered sales platform – significantly contributed to the company’s growth in mid-market and enterprise segments.
The product enhances how sales teams approach leads, driving efficiency and contributing to ZoomInfo’s competitive edge.
ZoomInfo also expanded its enterprise client base, closing the quarter with 1,797 customers spending $100,000 or more annually.
This marked an increase from the previous quarter, reflecting the company’s success in moving upmarket.
Significant Financial Adjustments
A notable adjustment was the implementation of a new risk model designed to address receivables and pre-payment procedures for smaller customers.
This resulted in $33 million in charges, impacting overall revenue by $15 million and leading to $14 million in bad debt expenses.
Despite these setbacks, these changes are expected to stabilize future income.
Cost Management Strategies
In terms of cost management, ZoomInfo executed several strategies, including a share repurchase program where the company bought back 10.8 million shares at an average price of $13.65, totaling $147.4 million.
Additionally, a debt repricing initiative reduced interest expenses by $3 million annually, enhancing long-term cost efficiency.
Restructuring costs, including lease adjustments and operational shifts, also contributed to improved cost control.
These efforts are part of the company’s broader strategy to streamline operations.
Impact of Partnerships on Revenue
ZoomInfo’s collaboration with Google Cloud for its Vertex AI platform played a significant role in expanding its market presence.
This partnership allows enterprises to leverage ZoomInfo’s data within AI-driven applications, enhancing its B2B sales capabilities.
These strategic alliances are essential to ZoomInfo’s revenue, driving adoption among enterprise clients and enhancing the value of its data offerings.
Cash Flow Analysis and Financial Health
ZoomInfo’s cash flow performance remains one of its financial strong points.
With $126.3 million in operating cash flow, ZoomInfo is well-positioned to handle debt and invest in future growth initiatives.
Its free cash flow has remained stable, highlighting strong financial management practices despite headwinds in other areas.
The company’s balance sheet remains healthy, with total assets of $6.68 billion and total equity of $1.86 billion, demonstrating a solid foundation for ongoing operations and future growth.
Equity and Debt Overview
ZoomInfo’s total liabilities, as of June 30, 2024, stood at $4.82 billion.
The company’s strategic decision to repurchase shares and reduce interest costs through debt repricing highlights its focus on maintaining a balanced equity-to-debt ratio.
ZoomInfo’s ability to manage debt while generating steady cash flow reflects its long-term financial stability.
The company’s equity position remains strong, with $1.86 billion in equity, providing a solid buffer for ongoing investments and operational needs.
Long-Term Financial Outlook
Looking ahead, ZoomInfo has provided guidance for Q3 2024 with expected revenues between $298 million and $301 million, and full-year 2024 revenues anticipated to range from $1.190 billion to $1.205 billion.
The company projects ongoing growth in its enterprise and mid-market segments, driven by new product offerings and strategic partnerships.
FAQs About ZoomInfo
What is ZoomInfo’s primary business focus?
It provides businesses with data and tools to improve their B2B sales efforts. Its go-to-market platform helps companies find, acquire, and grow customers through AI-powered insights.
How many employees does ZoomInfo have?
As of 2024, it serves over 35,000 companies worldwide, indicating its extensive reach in the B2B data and sales intelligence sectors.
Who is the CEO of ZoomInfo?
Henry Schuck is the founder and CEO of ZoomInfo, steering the company through its growth in the competitive market intelligence industry.
What are ZoomInfo’s total assets?
As of June 2024, it reported $6.68 billion in total assets, demonstrating the company’s significant financial foundation and growth potential.
How did ZoomInfo perform in Q2 2024?
In Q2 2024, it reported $291.5 million in revenue and a $(24.4) million net loss. Despite challenges, the company maintained a healthy cash flow and made strategic adjustments for future growth.
Conclusion
ZoomInfo continues to be a significant player in the business intelligence market. Interested in learning more or sharing your thoughts? Visit Ando Money for more in-depth financial insights, and join the conversation!
