GAAP Revenue of $197.6 million Grows 60%
year-over-year GAAP Operating Margin of 10% and Adjusted Operating
Income Margin of 39% Cash Flow from Operations of $46.5 million and
Unlevered Free Cash Flow of $73.3 million
ZoomInfo, (NASDAQ: ZI) a global leader in modern go-to-market
software, data, and intelligence, today announced its financial
results for the third quarter ended September 30, 2021.
“ZoomInfo delivered exceptional results, with another quarter of
accelerating revenue growth, and strong free cash flow generation,”
said Henry Schuck, ZoomInfo Founder and CEO. “We continue to
execute across all areas of the business as we build a category
defining company by delivering end-to-end success for go-to-market
teams worldwide.”
Third Quarter 2021 Financial and Other Recent Highlights
-
Financial Highlights:
- Revenue of $197.6 million, an increase of 60%
year-over-year.
- Operating income of $20.2 million and Adjusted Operating Income
of $78.4 million.
- GAAP operating income margin of 10% and Adjusted Operating
Income Margin of 39%.
- Cash flow from operations of $46.5 million and Unlevered Free
Cash Flow of $73.3 million.
Business and Operating Highlights:
- Acquired RingLead, a leading provider of data orchestration and
revenue operations automation that further connects the
intelligence and engagement layers of the ZoomInfo platform,
empowering customers to seamlessly manage their data across
systems. The acquisition was announced and closed in September
2021.
- After the acquisition in July, the company announced its first
integrations with Chorus.ai and the ZoomInfo platform in September,
allowing customers to transcribe and analyze calls taken in
ZoomInfo Engage, access Chorus’ Momentum Insights within the
ZoomInfo platform, and unlock ZoomInfo’s business-to-business data
and insights for the Chorus offering.
- Received multiple awards that recognize the company for career
growth, company leadership, diversity and inclusivity impact.
ZoomInfo founder and CEO Henry Schuck appeared on the list of Best
CEOs for diversity, ZoomInfo was named to the 2021 Fortune Best
Workplaces for Millennials List and was recognized by the Mass
Technology Leadership Council as a top company for Inclusivity
Impact.
- Announced that ZoomInfo’s board of directors unanimously
approved the elimination of the UP-C corporate structure and move
to a single class of common stock, with one share per vote.
Consistent with the Company’s plans, the conversion to a single
class of common stock has been completed in the fourth quarter of
2021.
- Closed the quarter with more than 25,000 customers, and more
than 1,250 customers with $100,000 or greater in annual contract
value.
Q3 2021 Financial Highlights
(Unaudited)
($ in millions, except per share
amounts)
GAAP Quarterly Results
Increase YoY
Non-GAAP Quarterly
Results
Increase YoY
Revenue
$197.6
60%
Operating Income
$20.2
10%
Adjusted Operating Income
$78.4
34%
Operating Income Margin
10%
Adjusted Operating Income Margin
39%
Net Income Per Share (Diluted)
$(0.15)
Adjusted Net Income per share
(Diluted)
$0.13
Cash Flow from Operating Activities
$46.5
(5)%
Unlevered Free Cash Flow
$73.3
23%
The Company uses a variety of operational and financial metrics,
including non-GAAP financial measures, to evaluate its performance
and financial condition. The accompanying financial data includes
additional information regarding these metrics and a reconciliation
of non-GAAP financial information for historical periods to the
most directly comparable GAAP financial measure. The presentation
of non-GAAP financial information should not be considered in
isolation or as a substitute for, or superior to, the financial
information prepared and presented in accordance with GAAP.
Business Outlook:
Based on information available as of November 1, 2021, ZoomInfo
is providing guidance for the fourth quarter and full year 2021 as
follows:
Q4 2021
Prior FY 2021
FY 2021
GAAP Revenue
$206 - $208 million
$703 - $707 million
$731 - $733 million
Non-GAAP Adjusted Operating Income
$79 - $81 million
$291 - $295 million
$299 - $301 million
Non-GAAP Adjusted Net Income per share
$0.12 - $0.13
$0.50 - $0.51
$0.51 - $0.52
Non-GAAP Unlevered Free Cash Flow
Not Guided
$300 - $305 million
$320 - $325 million
Weighted Average Shares Outstanding
407 million
405 million
405 million
Conference Call and Webcast Information:
ZoomInfo will host a conference call today, November 1, 2021, to
review its results at 4:30 p.m. Eastern Time, 1:30 p.m. Pacific
Time. The call will be accessible by telephone: (833) 519-1261
(U.S.) or (914) 800-3834 (International) with the passcode:
8165507.
The call will also be webcast live on the Company’s investor
relations website at https://ir.zoominfo.com/, where related
presentation materials will be posted prior to the conference call.
Following the conference call, an archived webcast of the call will
be available for one year on ZoomInfo’s Investor Relations
website.
Non-GAAP Financial Measures and Other Metrics:
To supplement our consolidated financial statements presented in
accordance with GAAP, this press release contains non-GAAP
financial measures, including Adjusted Operating Income, Adjusted
Operating Income Margin, Adjusted Net Income, Adjusted Net Income
Per Share, and Unlevered Free Cash Flow. We believe these non-GAAP
measures are useful to investors in evaluating our operating
performance because they eliminate certain items that affect
period-over-period comparability and provide consistency with past
financial performance and additional information about our
underlying results and trends by excluding certain items that may
not be indicative of our business, results of operations, or
outlook.
Non-GAAP financial measures are not meant to be considered in
isolation or as a substitute for the comparable GAAP measures, but
rather as supplemental information to our business results. This
information should be read only in conjunction with our
consolidated financial statements prepared in accordance with GAAP.
There are limitations to these non-GAAP financial measures because
they are not prepared in accordance with GAAP and may not be
comparable to similarly titled measures of other companies due to
potential differences in methods of calculation and items or events
being adjusted. In addition, other companies may use different
measures to evaluate their performance, all of which could reduce
the usefulness of our non-GAAP financial measures as tools for
comparison. A reconciliation is provided at the end of this press
release for each historical non-GAAP financial measure to the most
directly comparable financial measure stated in accordance with
GAAP. We do not provide a quantitative reconciliation of the
forward-looking non-GAAP financial measures included in this press
release to the most directly comparable GAAP measures due to the
high variability and difficulty to predict certain items excluded
from these non-GAAP financial measures; in particular, the effects
of stock-based compensation expense, taxes and amounts under the
exchange tax receivable agreement, deferred tax assets and deferred
tax liabilities, and restructuring and transaction expenses. We
expect the variability of these excluded items may have a
significant, and potentially unpredictable, impact on our future
GAAP financial results.
We define Adjusted Operating Income as income from operations
plus (i) impact of fair value adjustments to acquired unearned
revenue, (ii) amortization of acquired technology and other
acquired intangibles, (iii) equity-based compensation expense, (iv)
restructuring and transaction-related expenses, and (v) integration
costs and acquisition-related compensation. We define Adjusted
Operating Income Margin as Adjusted Operating Income divided by the
sum of revenue and the impact of fair value adjustments to acquired
unearned revenue.
We define Adjusted Net Income as Adjusted Operating Income less
(i) interest expense, net, (ii) other (income) expense, net,
excluding TRA liability remeasurement expense (benefit), and (iii)
income tax expense (benefit) including incremental tax effects of
adjustments to arrive at Adjusted Operating Income and current tax
benefits related to the TRA. We define Adjusted Net Income Per
Share as Adjusted Net Income divided by diluted weighted average
shares outstanding.
We define Unlevered Free Cash Flow as net cash provided from
operating activities less (i) purchases of property and equipment
and other assets, plus (ii) cash interest expense, (iii) cash
payments related to restructuring and transaction-related expenses,
and (iv) cash payments related to integration costs and
acquisition-related compensation. Unlevered Free Cash Flow does not
represent residual cash flow available for discretionary
expenditures since, among other things, we have mandatory debt
service requirements.
Cautionary Statement Regarding Forward-Looking
Information
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. Actual results may differ materially from those expressed or
implied by these statements. You can generally identify our
forward-looking statements by the words “anticipate,” “believe,”
“can,” “continue,” “could,” “estimate,” “expect,” “forecast,”
“goal,” “intend,” “may,” “might,” “objective,” “outlook,” “plan,”
“potential,” “predict,” “projection,” “seek,” “should,” “target,”
“trend,” “will,” “would” or the negative version of these words or
other comparable words. Any statements in this press release
regarding future revenue, earnings, margins, financial performance,
cash flow, liquidity or results of operations (including, but not
limited to, the guidance provided under “Business Outlook”), and
any other statements that are not historical facts are
forward-looking statements. We have based our forward-looking
statements on our management’s beliefs and assumptions based on
information available to our management at the time the statements
are made. We caution you that assumptions, beliefs, expectations,
intentions and projections about future events may and often do
vary materially from actual results. Therefore, we cannot assure
you that actual results will not differ materially from those
expressed or implied by our forward-looking statements.
The following are some of the factors that could cause actual
results to differ from those expressed or implied by our
forward-looking statements: (i) the COVID-19 pandemic, including
the global economic uncertainty and measures taken in response,
could materially impact our business and future results of
operations; (ii) larger well-funded companies shifting their
existing business models to become more competitive with us; (iii)
our ability to provide or adapt our platform for changes in laws
and regulations or public perception, or changes in the enforcement
of such laws, relating to data privacy; (iv) the effects of
companies more effectively catering to our customers by offering
more tailored products or platforms at lower costs; (v) adverse
general economic and market conditions reducing spending on sales
and marketing; (vi) the effects of declining demand for sales and
marketing subscription platforms; (vii) our ability to improve our
technology and keep up with new processes for data collection,
organization, and cleansing; (viii) our ability to provide a highly
accurate, reliable, and comprehensive platform moving forward; (ix)
our reliance on third-party systems that we do not control to
integrate with our system and our potential inability to continue
to support integration; (x) our ability to adequately fund research
and development potentially limiting introduction of new features,
integrations, and enhancements; (xi) our ability to attract new
customers and expand existing subscriptions; (xii) a decrease in
participation in our contributory network or increased opt-out
rates impacting the depth, breadth, and accuracy of our platform;
(xiii) our failure to protect and maintain our brand and our
ability to attract and retain customers; (xiv) our failure to
achieve and maintain effective internal controls over financial
reporting; (xv) our ability to successfully integrate acquired
businesses, services, databases and technologies into our
operations; (xvi) our ability to successfully forecast the future
performance of acquired businesses, services, databases and
technologies upon integration; (xvii) our substantial indebtedness,
which could adversely affect our financial condition, our ability
to raise additional capital to fund our operations, our ability to
operate our business, our ability to react to changes in the
economy or our industry, and our ability to meet our obligations
under our outstanding indebtedness, and could divert our cash flow
from operations for debt payments; (xviii) the parties to our
stockholders agreement controlling us and their interests
conflicting with ours or our other stockholders in the future;
(xix) our being a “controlled company” within the meaning of the
Nasdaq rules and, as a result, qualifying for exemptions from
certain corporate governance requirements, as a result of which our
stockholders will not have the same protections afforded to
stockholders of companies that are subject to such requirements;
and (xx) other factors described under “Risk Factors” in our Annual
Report on Form 10-K for the fiscal year ended December 31, 2020 and
in other reports we file from time to time with the SEC. These
factors should not be construed as exhaustive. Should one or more
of these risks or uncertainties materialize, or should any of our
assumptions prove incorrect, our actual results may differ
materially from those projected in our forward-looking statements.
Factors or events that could cause our actual results to differ may
emerge from time to time, and it is not possible for us to predict
all of them. Our forward-looking statements do not reflect the
potential impact of any future acquisitions, mergers, dispositions,
joint ventures, investments, or other strategic transactions we may
make. Each forward-looking statement contained in this presentation
speaks only as of the date of this presentation, and we undertake
no obligation to update or revise any forward-looking statements
whether as a result of new information, future developments or
otherwise, except as required by law.
About ZoomInfo
ZoomInfo (NASDAQ: ZI) is a leader in modern go-to-market
software, data, and intelligence for more than 25,000 companies
worldwide. The ZoomInfo platform empowers business-to-business
sales, marketing, and recruiting professionals to hit their number
by pairing best-in-class technology with unrivaled data
coverage, accuracy, and depth of company and contact
information. With integrations embedded into workflows and
technology stacks, including the leading CRM, Sales
Engagement, Marketing Automation, and Talent Management
applications, ZoomInfo drives more predictable, accelerated, and
sustainable growth for its customers. ZoomInfo emphasizes GDPR
and CCPA compliance. In addition to creating the industry’s
first proactive notice program, the company is a registered data
broker with the states of California and Vermont. Read about
ZoomInfo’s commitment to compliance, privacy, and security.
For more information about our leading go-to-market software, data,
and intelligence, and how they help sales, marketing, and
recruiting professionals, please visit www.zoominfo.com.
Website Disclosure
ZoomInfo intends to use its website as a distribution channel of
material company information. Financial and other important
information regarding the Company is routinely posted on and
accessible through the Company’s website at
https://ir.zoominfo.com/. Accordingly, you should monitor the
investor relations portion of our website at
https://ir.zoominfo.com/ in addition to following our press
releases, SEC filings, and public conference calls and webcasts. In
addition, you may automatically receive email alerts and other
information about ZoomInfo when you enroll your email address by
visiting the “Email Alerts” section of our investor relations page
at https://ir.zoominfo.com/.
ZoomInfo Technologies
Inc.
Condensed Consolidated Balance
Sheets
(in millions, except share
data)
September 30,
December 31,
2021
2020
(unaudited)
Assets
Current assets:
Cash and cash equivalents
$
196.8
$
269.8
Short-term investments
36.5
30.6
Restricted cash, current
—
1.2
Accounts receivable
115.1
121.2
Prepaid expenses and other current
assets
56.2
14.3
Income tax receivable
4.1
2.4
Total current assets
408.7
439.5
Property and equipment, net
38.7
31.0
Operating lease right-of-use assets,
net
62.1
32.0
Intangible assets, net
447.3
365.7
Goodwill
1,575.4
1,000.1
Deferred tax assets
4,006.0
415.7
Deferred costs and other assets, net of
current portion
64.1
43.4
Restricted cash, non-current
5.8
—
Total assets
$
6,608.1
$
2,327.4
Liabilities, Temporary, and Permanent
Equity (Deficit)
Current liabilities:
Accounts payable
$
24.9
$
8.6
Accrued expenses and other current
liabilities
77.6
81.5
Unearned revenue, current portion
285.6
221.3
Income taxes payable
5.5
3.4
Current portion of tax receivable
agreements liability
6.2
—
Current portion of operating lease
liabilities
8.1
6.0
Total current liabilities
407.9
320.8
Unearned revenue, net of current
portion
2.3
1.4
Tax receivable agreements liability, net
of current portion
3,059.6
271.0
Operating lease liabilities, net of
current portion
63.2
33.6
Long-term debt, net of current portion
1,232.2
744.9
Deferred tax liabilities
1.2
8.3
Other long-term liabilities
7.0
7.8
Total liabilities
4,773.4
1,387.8
Commitments and Contingencies
Permanent Equity (Deficit)
Members' equity (deficit)
—
—
Class A common stock, par value $0.01
3.7
0.9
Class B common stock, par value $0.01
0.2
2.2
Class C common stock, par value $0.01
—
0.9
Additional paid-in capital
1,808.9
505.2
Accumulated other comprehensive income
(loss)
4.3
(2.4
)
Retained Earnings
(32.1
)
(4.0
)
Noncontrolling interests
49.7
436.8
Total equity (deficit)
1,834.7
939.6
Total liabilities, temporary, and
permanent equity (deficit)
$
6,608.1
$
2,327.4
ZoomInfo Technologies
Inc.
Consolidated Statements of
Operations
(in millions, except per share
amounts; unaudited)
Three Months Ended September
30,
Nine Months Ended September
30,
2021
2020
2021
2020
Revenue
$
197.6
$
123.4
$
524.9
$
336.5
Cost of service:
Cost of service(1)
27.2
21.2
72.1
64.2
Amortization of acquired technology
10.7
5.5
24.2
16.7
Gross profit
159.7
96.7
428.6
255.6
Operating expenses:
Sales and marketing(1)
65.3
46.1
164.0
139.7
Research and development(1)
34.4
10.6
78.8
36.9
General and administrative(1)
23.4
17.1
64.1
45.3
Amortization of other acquired
intangibles
5.4
4.6
15.0
13.9
Restructuring and transaction-related
expenses
11.0
(0.1
)
17.6
12.3
Total operating expenses
139.5
78.3
339.5
248.1
Income (loss) from operations
20.2
18.4
89.1
7.5
Interest expense, net
13.9
9.7
30.5
59.3
Loss on debt modification and
extinguishment
1.8
—
7.7
14.9
Other (income) expense, net
(0.1
)
(3.8
)
(0.2
)
(3.8
)
Income (loss) before income taxes
4.6
12.5
51.1
(62.9
)
Income tax expense (benefit)
45.5
1.4
101.4
9.8
Net income (loss)
(40.9
)
11.1
(50.3
)
(72.7
)
Less: Net income (loss) attributable to
ZoomInfo OpCo prior to the Reorganization Transactions
—
—
—
(5.1
)
Less: Net income (loss) attributable to
noncontrolling interests
(0.3
)
6.2
(22.2
)
(38.1
)
Net income (loss) attributable to
ZoomInfo Technologies Inc.
$
(40.6
)
$
4.9
$
(28.1
)
$
(29.5
)
Net income (loss) per share of Class A and
Class C common stock:
Basic
$
(0.15
)
$
0.03
$
(0.13
)
$
(0.26
)
Diluted
$
(0.15
)
$
0.02
$
(0.13
)
$
(0.26
)
(1) Amounts include equity-based
compensation expense, as follows:
Three Months Ended September
30,
Nine Months Ended September
30,
2021
2020
2021
2020
Cost of service
$
2.8
$
6.8
$
9.5
$
23.8
Sales and marketing
9.5
15.2
25.1
53.6
Research and development
7.4
1.8
13.2
11.9
General and administrative
4.8
4.6
11.9
14.9
Total equity-based compensation
expense
$
24.5
$
28.4
$
59.7
$
104.2
ZoomInfo Technologies
Inc.
Consolidated Statements of
Cash Flows
(in millions;
unaudited)
Nine Months Ended September
30,
2021
2020
Cash flows from operating
activities:
Net income (loss)
$
(50.3
)
$
(72.7
)
Adjustments to reconcile net income (loss)
to net cash provided by (used in) operating activities:
Depreciation and amortization
49.6
37.0
Amortization of debt discounts and
issuance costs
1.8
3.2
Amortization of deferred commissions
costs
29.3
17.5
Asset impairments
2.7
—
Loss on debt modification and
extinguishment
7.7
14.9
Deferred consideration valuation
adjustments
0.2
1.2
Equity-based compensation expense
59.7
104.2
Deferred income taxes
84.5
4.5
Tax receivable agreement remeasurement
(0.3
)
(3.9
)
Provision for bad debt expense
3.1
1.1
Changes in operating assets and
liabilities, net of acquisitions:
Accounts receivable
7.2
(4.6
)
Prepaid expenses and other current
assets
(5.7
)
(2.7
)
Deferred costs and other assets, net of
current portion
(33.5
)
(22.3
)
Income tax receivable
(1.6
)
(0.2
)
Accounts payable
11.8
1.8
Accrued expenses and other liabilities
6.9
6.9
Unearned revenue
55.0
16.8
Net cash provided by (used in) operating
activities
228.1
102.7
Cash flows from investing
activities:
Purchases of short-term investments
(119.8
)
—
Maturities of short-term investments
52.0
—
Proceeds from sales of short-term
investments
61.7
—
Purchases of property and equipment and
other assets
(15.8
)
(11.8
)
Cash paid for acquisitions, net of cash
acquired
(717.5
)
—
Net cash provided by (used in) investing
activities
(739.4
)
(11.8
)
Cash flows from financing
activities:
Payments of deferred consideration
(9.4
)
(24.7
)
Proceeds from debt
1,071.8
35.0
Repayment of debt
(581.4
)
(510.9
)
Payments of debt issuance and modification
costs
(11.4
)
(1.0
)
Proceeds from exercise of stock
options
1.4
—
Taxes paid related to net share settlement
of equity awards
(7.2
)
—
Repurchase outstanding equity / member
units
—
(332.4
)
Proceeds from equity offering, net of
underwriting discounts
—
1,023.7
Payments of equity issuance costs
(1.0
)
(7.2
)
Tax distributions
(19.9
)
(9.9
)
Net cash provided by (used in) financing
activities
442.9
172.6
Net increase (decrease) in cash, cash
equivalents, and restricted cash
(68.4
)
263.5
Cash, cash equivalents, and restricted
cash at beginning of period
271.0
42.5
Cash, cash equivalents, and restricted
cash at end of period
$
202.6
$
306.0
Cash, cash equivalents, and restricted
cash at end of period:
Cash and cash equivalents
196.8
304.9
Restricted cash, current
—
1.1
Restricted cash, non-current
5.8
—
Total cash, cash equivalents, and
restricted cash
$
202.6
$
306.0
Supplemental disclosures of cash flow
information
Interest paid in cash
$
26.3
$
56.8
Cash paid for taxes
$
15.6
$
0.8
Supplemental disclosures of non-cash
investing and financing activities:
Property and equipment included in
accounts payable and accrued expenses and other current
liabilities
$
3.0
$
—
Estimated business combination
consideration receivable
$
33.9
$
—
ZoomInfo Technologies
Inc.
Reconciliation of GAAP
Operating Cash Flow to Unlevered Free Cash Flow
($ in millions;
unaudited)
Three Months Ended September
30,
Nine Months Ended September
30,
2021
2020
2021
2020
Cash flow from operations
$
46.5
$
49.1
$
228.1
$
102.7
Purchases of property and equipment and
other assets
(4.8
)
(3.6
)
(15.8
)
(11.8
)
Interest paid in cash
14.0
9.7
26.3
56.8
Restructuring and transaction-related
expenses paid in cash
15.5
2.5
19.3
11.7
Integration costs and acquisition-related
compensation paid in cash
2.1
2.2
4.7
7.6
Unlevered Free Cash Flow
$
73.3
$
59.8
$
262.6
$
167.0
ZoomInfo Technologies
Inc.
Reconciliation of GAAP Net
Income (Loss) to Adjusted Net Income and Income (Loss) From
Operations to Adjusted Operating Income
(in millions, except per share
amounts; unaudited)
Three Months Ended September
30,
Nine Months Ended September
30,
2021
2020
2021
2020
Net income (loss)
$
(40.9
)
$
11.1
$
(50.3
)
$
(72.7
)
Add (less): Expense (benefit) from income
taxes
45.5
1.4
101.4
9.8
Add: Interest expense, net
13.9
9.7
30.5
59.3
Add: Loss on debt modification and
extinguishment
1.8
—
7.7
14.9
Add (less): Other expense (income),
net
(0.1
)
(3.8
)
(0.2
)
(3.8
)
Income (loss) from operations
20.2
18.4
89.1
7.5
Add: Impact of fair value adjustments to
acquired unearned revenue
1.6
0.2
2.7
1.9
Add: Amortization of acquired
technology
10.7
5.5
24.2
16.7
Add: Amortization of other acquired
intangibles
5.4
4.6
15.0
13.9
Add: Equity-based compensation
24.5
28.4
59.7
104.2
Add: Restructuring and transaction-related
expenses
11.0
(0.1
)
17.6
12.3
Add: Integration costs and
acquisition-related expenses
5.1
1.5
12.0
6.0
Adjusted Operating Income
78.4
58.5
220.2
162.6
Less: Interest expense, net
(13.9
)
(9.7
)
(30.5
)
(59.3
)
Less (add): Other expense (income), net,
excluding TRA liability remeasurement (benefit) expense
0.1
0.1
0.1
0.1
Add (less): Benefit (expense) from income
taxes
(45.5
)
(1.4
)
(101.4
)
(9.8
)
Less: Tax impacts of adjustments to net
income (loss)
31.8
(4.6
)
69.5
(3.4
)
Adjusted Net Income
$
50.7
$
42.8
$
157.8
$
89.9
Shares for Adjusted Net Income Per
Share(1)
406
403
405
403
Adjusted Net Income Per Share
$
0.13
$
0.11
$
0.39
$
0.22
Three Months Ended September
30,
Nine Months Ended September
30,
($ in millions)
2021
2020
2021
2020
Adjusted Operating Income
$
78.4
$
58.5
$
220.2
$
162.6
Revenue
197.6
123.4
524.9
336.5
Impact of fair value adjustments to
acquired unearned revenue
1.6
0.2
2.7
1.9
Revenue for adjusted operating margin
calculation
$
199.2
$
123.6
$
527.5
$
338.4
Adjusted Operating Income Margin
39
%
47
%
42
%
48
%
____________________________________________
1.
Diluted earnings per share is
computed by giving effect to all potential weighted average Class A
common stock, Class C common stock, and any securities that are
convertible into Class A common stock, including options and
restricted stock units. The dilutive effect of outstanding awards
and convertible securities is reflected in diluted earnings per
share by application of the treasury stock method, excluding deemed
repurchases assuming proceeds from unrecognized compensation as
required by GAAP. Shares and grants issued in conjunction with the
IPO were assumed to be issued at the beginning of the period.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211101005849/en/
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Relations 617-826-2068 IR@zoominfo.com
Media Contact: Steve Vittorioso Director, Communications
978-875-1297 PR@zoominfo.com
ZI Corp (MM) (NASDAQ:ZICA)
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ZI Corp (MM) (NASDAQ:ZICA)
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