ZIP earnings analysis
What we found in ZIP's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
For Q1 2026, ZipRecruiter reported revenue of $107.5 million, a slight decrease of 2% compared to $110.1 million in Q1 2025, alongside a reduced net loss of $4.7 million versus $12.8 million in the prior year. The company highlighted improved Adjusted EBITDA of $9.7 million, marking a significant increase from $5.9 million year-over-year. However, decreased revenue per Paid Employer indicates challenges in monetization despite maintaining a stable employer base.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Decline Stabilization
- Reported revenue of $107.5 million, a 2% decrease from $110.1 million in Q1 2025.
- Improved Net Loss
- Net loss narrowed to $4.7 million from $12.8 million year-over-year.
- Increased Adjusted EBITDA
- Adjusted EBITDA rose to $9.7 million from $5.9 million in the same quarter last year.
- Increased Paid Employers
- Quarterly Paid Employers up by 2% to 63,329 compared to prior quarter.
- Cost Control
- Sales and marketing expenses decreased by $3.5 million to $55 million compared to Q1 2025.
- Robust Cash Position
- Cash, cash equivalents, and marketable securities totaled $393.5 million, supporting operational stability.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Year-over-Year Revenue Decline
- Revenue declined by $2.5 million year-over-year, suggesting market challenges.
- Increasing Net Loss
- Continues to bear a net loss of $4.7 million, indicating financial pressures.
- Fluctuating Revenue per Employer
- Revenue per Paid Employer declined from $1,889 to $1,698, reflecting decreasing spending patterns.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.04
- Gross margin
- 89%
- Operating margin
- -1.4%
- Segment
- Subscription
- Segment
- Performance-based
What they said about what is next.
No specific numeric guidance provided for future quarters.
The filing reads about the same as the one before it.
What came before.
- 10-K · February 25, 2026
- ZipRecruiter positions itself as an AI-powered employment marketplace that leverages proprietary data, network effects and an AI advisor (“Phil”) to connect employers and job seekers. Fiscal 2025 saw modest revenue…
- 10-Q · November 6, 2024
- ZipRecruiter reported Q3 2024 revenue of $117,084,000 and GAAP diluted loss per share of $(0.03). Revenue and profitability deteriorated materially year-over-year (revenue down $38,546,000, operating loss of $3,239,000)…
- 10-K · February 28, 2024
- ZipRecruiter positions itself as an AI-powered two-sided hiring marketplace with proprietary data, a #1-rated job seeker app and network effects (jobs → job seekers → employers). The company reported revenue of $645.7…
- 10-Q · August 8, 2023
- ZipRecruiter reported a disappointing Q2 2023 with revenue declining 29.0% year-over-year to $170.42 million, primarily due to a decrease in performance-based revenue, which fell 36.5%. Despite the revenue decline, the…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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