$ZIP

ZIPRECRUITER, INC.

CIK:0001617553|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 118,061	$ 112,232	$ 225,608	$ 222,297
Cost of revenue	12,589	11,963	24,563	23,618
Gross profit	105,472	100,269	201,045	198,679
Operating expenses
Sales and marketing	58,936	58,065	113,945	116,533
Research and development	26,372	32,095	52,453	65,361
General and administrative	16,026	16,771	32,057	35,116
Total operating expenses	101,334	106,931	198,455	217,010
Income (loss) from operations	4,138	(6,662)	2,590	(18,331)
Other income (expense)
Interest expense	(6,686)	(7,401)	(14,132)	(14,793)
Gain on debt extinguishment	59,262	0	59,262	0
Other income (expense), net	3,144	4,953	6,564	10,308
Total other income (expense), net	55,720	(2,448)	51,694	(4,485)
Income (loss) before income taxes	59,858	(9,110)	54,284	(22,816)
Income tax expense (benefit)	16,433	396	15,597	(479)
Net income (loss)	$ 43,425	$ (9,506)	$ 38,687	$ (22,337)
Net income (loss) per share:
Basic (in dollars per share)	$ 0.53	$ (0.10)	$ 0.47	$ (0.24)
Diluted (in dollars per share)	$ 0.53	$ (0.10)	$ 0.46	$ (0.24)
Weighted average shares used in computing net income (loss) per share:
Basic (in shares)	81,659	90,569	82,659	94,297
Diluted (in shares)	82,674	90,569	83,309	94,297

Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income (loss)	$ 38,687,000	$ (22,337,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Stock-based compensation expense	15,738,000	27,239,000
Depreciation and amortization	5,928,000	6,369,000
Provision for bad debts	597,000	507,000
Deferred income taxes	15,888,000	(9,182,000)
Non-cash lease expense	957,000	2,015,000
Amortization and accretion of marketable securities	(1,731,000)	(4,132,000)
Gain on debt extinguishment	(59,262,000)	0
Other	1,793,000	1,185,000
Change in operating assets and liabilities:
Accounts receivable	(1,340,000)	(2,830,000)
Prepaid expenses and other assets	(1,153,000)	(47,000)
Deferred commissions	722,000	448,000
Other assets	(1,496,000)	675,000
Accounts payable	3,857,000	(2,356,000)
Accrued expenses and other liabilities	(457,000)	4,257,000
Accrued interest	(6,975,000)	(4,000)
Deferred revenue	1,346,000	900,000
Operating lease liabilities	(1,178,000)	(2,073,000)
Net cash provided by operating activities	11,921,000	634,000
Cash flows from investing activities
Purchases of property and equipment	(371,000)	(602,000)
Capitalized internal-use software costs	(3,927,000)	(3,990,000)
Purchases of marketable securities	(62,905,000)	(270,062,000)
Sales of marketable securities	1,301,000	983,000
Paydowns, maturities, and redemptions of marketable securities	239,311,000	342,162,000
Net cash provided by investing activities	173,409,000	68,491,000
Cash flows from financing activities
Repurchase of common stock	(9,533,000)	(84,093,000)
Proceeds from exercise of stock options	301,000	2,427,000
Payments of tax withholdings on net settlement of equity awards	(2,376,000)	(4,100,000)
Proceeds from issuance of stock under employee stock purchase plan	0	1,665,000
Repurchases of senior unsecured notes	(229,684,000)	0
Net cash used in financing activities	(241,292,000)	(84,101,000)
Net decrease in cash, cash equivalents, and restricted cash	(55,962,000)	(14,976,000)
Beginning of period	188,028,000	218,432,000
End of period	132,066,000	203,456,000
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets
Cash and cash equivalents	129,739,000	203,456,000
Restricted cash included in prepaid expenses and other assets	259,000	0
Restricted cash included in other assets	2,068,000	0
Total cash, cash equivalents, and restricted cash	132,066,000	203,456,000
Supplemental disclosure of non-cash activities
Repurchases of senior unsecured notes included in accounts payable and accrued expenses	3,129,000	0
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities	$ 0	$ 7,148,000

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 129,739	$ 188,028
Marketable securities	44,069	221,109
Accounts receivable, net of allowances of $2,230 and $2,031 at June 30, 2026 and December 31, 2025, respectively	26,409	25,666
Prepaid expenses and other assets	12,524	11,097
Deferred commissions, current portion	2,822	2,951
Total current assets	215,563	448,851
Property and equipment, net	3,870	4,076
Operating lease right-of-use assets	8,758	9,715
Deferred commissions, net of current portion	3,177	3,770
Goodwill	8,518	8,518
Deferred tax assets, net	59,304	75,192
Other assets	4,712	202
Total assets	321,326	569,743
Current liabilities
Accounts payable	15,665	9,115
Accrued expenses	36,132	36,610
Accrued interest	5,889	12,864
Deferred revenue	11,103	9,731
Operating lease liabilities, current portion	2,223	2,213
Other current liabilities	35	363
Total current liabilities	71,047	70,896
Operating lease liabilities, net of current portion	9,500	10,688
Long-term borrowings, net	253,269	544,780
Other long-term liabilities	21,323	20,580
Total liabilities	355,139	646,944
Commitments and contingencies (Note 8)
Stockholders' deficit
Preferred Stock, $0.00001 par value; 50,000 shares authorized as of June 30, 2026 and December 31, 2025; no shares issued and outstanding as of June 30, 2026 and December 31, 2025	0	0
Class B treasury stock, 195 shares outstanding as of June 30, 2026 and December 31, 2025	(644)	(644)
Additional paid-in capital	6,497	0
Accumulated deficit	(39,666)	(76,590)
Accumulated other comprehensive income (loss)	(1)	32
Total stockholders' deficit	(33,813)	(77,201)
Total liabilities and stockholders' deficit	321,326	569,743
Internal-use software, net
Current assets
Intangible assets, net	15,032	16,050
Intangible assets, net
Current assets
Intangible assets, net	2,392	3,369
Common Class A
Stockholders' deficit
Common stock	1	1
Common Class B
Stockholders' deficit
Common stock	$ 0	$ 0