ZipRecruiter, Inc.

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Thank you, operator, and good afternoon. Thank you for joining us in our earnings conference call during which we will discuss ZipRecruiter's performance for the quarter and year ended December 31st, 2024, and guidance for the first quarter of 2025. Joining me on the call today are Ian Siegel, co-founder and CEO, David Travers, president, and Tim Yarbrough, CFO. Before we begin, please be reminded that forward-looking statements made today are subject to risks and uncertainties relating to future events and or the future financial performance of ZipRecruiter. Actual results could differ materially from those anticipated in these forward-looking statements. A discussion of some of the risk factors that could cause actual results to differ materially from any forward-looking statements can be found in ZipRecruiter's annual report on Form 10-K for the year ended December 31st, 2024, which is available on our investor website and the SEC's website. The forward-looking statements in this comments call are based on the current expectations as of today, and ZipRecruiter assumes no obligation to update or revise them, whether as a result of new developments or otherwise. In addition, during today's call, we will discuss non-GAAP financial measures. These non-GAAP financial measures should be considered in addition to, not as a substitute for, or in isolation from GAAP results. Reconciliations of the non-GAAP metrics to the nearest GAAP metrics are included in ZIPRecruiter's shareholder letter N or Form 10-K. And now, I will turn the call over to Ian.

Thank you, and good afternoon to everyone joining us today. At ZipRecruiter, our mission is to actively connect people to their next great opportunity. We accomplish this with products that reduce friction in the job search process and speed up the time to hire. While the labor market environment over the past few years has been challenging, we believe ZipRecruiter's growing job seeker traffic, number one rated mobile app, proprietary data we use to train our matching algorithms, and strong brand recognition position us to grow our market share over the long term as the U.S. labor market recovers. In 2024, ZipRecruiter delivered multiple major customer-impacting improvements to the service. These improvements included new product launches, advancements to our existing products, and leveraging M&A as a tool to expand our product suite. Highlights include the launch of Zip Intro, which allows employers to talk face-to-face with vetted candidates within 24 hours of posting a job. The launch of our Next Generation Resume Database, which had an immediate impact on customer satisfaction, product usage, and new customer adoption. And finally, the acquisition of Break Room, an employer rating site in the UK. The deal was completed and the initial US rollout of the service is well underway. The steady drumbeat of product improvements has been noticed by job seekers. Total web traffic in Q4 2024 grew by 15% year over year, which is at least 10 percentage points more than any of our largest competitors. We believe that market share shifts and job seeker traffic will, over time, be followed by market share shifts in employer revenue dollars. We made these advancements while facing a difficult hiring environment. Seasonally adjusted hires have declined on a year-over-year basis for 28 consecutive months, surpassing the great recession of 2008. Fueling the decline is a steep drop in people quitting their jobs. The quits rate remains near its lowest level since 2015, excluding the onset of the COVID pandemic. Against that labor market backdrop, 2024 revenue of $474 million declined 27% year-over-year. However, our business remains resilient. We manage down operating expenses while continuing to invest aggressively into improving the marketplace. Adjusted EBITDA was 78 million, equating to a 16% adjusted EBITDA margin, which was towards the higher end of expectations we set earlier in 2024. Net loss in 2024 was 12.9 million. Despite the protracted labor market downturn, we entered 2025 with cautious optimism from both internal and external indicators. The NFIB Small Business Optimism Index in December posted its highest reading since October of 2018, which can be a leading indicator for employer hiring plans. There are other encouraging underlying signs internally, such as an uptick in employer account reactivations. Our Q1 revenue guidance of 109 million at the midpoint is down only 2% sequentially versus Q4 of 24. That contrasts with sequential declines of 13% in Q1 of 2023 and 10% in Q1 of 2024. Despite these positive signals, business uncertainty lingers over employer hiring plans. We will continue to let data guide our decision making and are poised to increase investment in ROI positive sales and marketing initiatives with a recovery and hiring activity. Throughout labor market cycles, our mission remains the foundation of our strategy. We relentlessly improve our ability to actively connect people to their next great opportunity. I will now turn the call over to Dave to share business highlights. Dave?