ZipRecruiter (ZIP) Q4 2025 earnings summary

Executive summary

• Achieved Q4 2025 revenue of $111.7 million, up 1% year-over-year, and full-year 2025 revenue of $449.0 million, despite a challenging macroeconomic environment and a 10% year-over-year decline in job openings.

• Delivered full-year Adjusted EBITDA of $40.8 million (9% margin), with Q4 Adjusted EBITDA at $16.2 million (15% margin).

• Launched new products including Be Seen First, AI-powered screening questions, and enhancements to ZipIntro and the resume database, driving higher engagement and efficiency.

• Enterprise customer focus and performance marketing revenue growth offset softness in SMB demand, with enterprise revenue up and performance marketing revenue increasing 9% year-over-year in Q4.

• CFO Tim Yarbrough announced departure, with President Dave Travers serving as interim CFO and a search for a permanent replacement underway.

Financial highlights

• Q4 2025 revenue was $111.7 million, up 1% year-over-year; full-year 2025 revenue was $449.0 million, down 5% from 2024.

• Adjusted EBITDA for Q4 was $16.2 million (15% margin); full-year Adjusted EBITDA was $40.8 million (9% margin).

• Net loss for Q4 was $0.8 million; full-year net loss was $33.0 million (7% net loss margin).

• Ended Q4 with over 59,000 paid employers, up 2% year-over-year but down 12% sequentially.

• Revenue per paid employer was $1,889 in Q4, continuing a multi-year upward trend.

• Cash, cash equivalents, and marketable securities totaled $409.1 million as of December 31, 2025.

• Repurchased 1.8 million shares for $8 million in Q4.

Outlook and guidance

• Q1 2026 revenue guidance is $106 million at the midpoint, down 4% year-over-year and 5% sequentially, reflecting a lower baseline of paid employers.

• Q1 2026 Adjusted EBITDA guidance midpoint is $5 million (5% margin), flat year-over-year.

• For full-year 2026, expects flat year-over-year revenue (vs. 5% decline in 2025) and Adjusted EBITDA margin expansion from 9% in 2025 to 14% in 2026.

• Management highlights a flexible financial model to respond to macroeconomic headwinds and maintain profitability.

• Growth strategies include expanding the employer and job seeker base, optimizing performance-based pricing, and building an enduring brand.