ZoomInfo Technologies (ZI) Q2 2026 earnings summary

Executive summary

• Q2 2026 GAAP revenue reached $310.4 million, up 1.2% year-over-year, with adjusted operating income margin improving to 35% and unlevered free cash flow up 7% year-over-year.

• A $650.5 million goodwill impairment led to a GAAP operating loss of $622 million and a net loss per share of $(2.19).

• Strategic initiatives included launching GTM.AI, expanding flexible pricing models, and integrating AI-driven workflows.

• Upmarket business now represents 76% of ACV, with 1,891 customers over $100,000 in ACV, up 9 year-over-year but down 9 sequentially.

• Major restructuring reduced headcount by up to 20% and incurred $21.6 million in related charges.

Financial highlights

• Adjusted operating income was $110 million, up 5% year-over-year, with a 35% margin.

• Unlevered free cash flow was $107.3 million, representing a 98% conversion from adjusted operating income.

• Net revenue retention was 89%, consistent year-over-year.

• Adjusted EBITDA for Q2 2026 was $119.1 million, up 7% year-over-year.

• Gross margin was 83%, down from 84% in Q2 2025.

Outlook and guidance

• Q3 2026 GAAP revenue expected between $298 million and $301 million; adjusted operating income between $113 million and $115 million.

• Full-year 2026 GAAP revenue guidance raised to $1.207–$1.217 billion; adjusted operating income expected at $446–$451 million; unlevered free cash flow at $403–$423 million.

• Adjusted net income per share for 2026 projected at $1.12–$1.13.

• Management expects near-term revenue headwinds and increased variability as it transitions to a hybrid pricing model.