ZoomInfo beat earnings, cut 600 jobs, and lost 29 per cent of its stock price. Its database is being repriced by AI.
TL;DR
ZoomInfo beat Q1 earnings but cut full-year revenue guidance by 62 million dollars, announced a 600-job restructuring (20 per cent of headcount), and lost 29 per cent of its stock price as AI-native competitors reprice B2B sales intelligence.
ZoomInfo beat its first-quarter earnings estimates, cut its full-year revenue guidance by 62 million dollars, announced a restructuring that will eliminate 600 jobs, and lost 29 per cent of its stock price in a single trading session. The company reported 310.2 million dollars in revenue, up 1.5 per cent year over year. Adjusted earnings per share came in at 28 cents, beating estimates by nearly nine per cent. None of it mattered. Investors looked at the guidance cut, the 20 per cent headcount reduction, and the 90 per cent net revenue retention rate, and sold.
The stock closed at 4.32 dollars. In November 2021, it traded at 77.35 dollars. ZoomInfo’s market...
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