ZoomInfo Lowers Full-Year Financial Guidance

by webmaster

ZoomInfo, a leading provider of database information for corporate sales and marketing teams, has lowered its full-year financial guidance, causing its shares to fall sharply in late trading on Monday. The company’s press release did not provide any explanation for the revised forecast.

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Second Quarter Performance

For the second quarter, ZoomInfo reported revenue of $308.6 million, representing a 16% increase compared to the previous year. However, this figure fell slightly below the Wall Street consensus of $310.9 million. Adjusted profits for the quarter stood at 26 cents per share, surpassing the consensus estimate of 23 cents per share. Under generally accepted accounting principles (GAAP), the company achieved earnings of nine cents per share.

CEO Henry Schuck expressed satisfaction with the company’s performance, stating, “We delivered another quarter of revenue growth, increased profitability, and free cash flow generation.”

Revised Guidance for September Quarter and Full Year

ZoomInfo has projected revenue of $309 million to $312 million for the September quarter, with adjusted profits expected to range between 24 and 25 cents per share. Analyst consensus had previously anticipated revenue of $325.8 million and 25 cents per share.

The company has also revised its guidance for the full year, lowering the revenue projection to a range of $1.225 billion to $1.235 billion. This represents a decrease from the previous forecast of $1.275 billion to $1.285 billion.

Additionally, ZoomInfo now expects non-GAAP free cash flow to be between $445 million and $455 million, down from the previous forecast of $507 million to $517 million. The new non-GAAP EPS forecast is 99 cents to $1 a share, narrowing the range from the previous estimate of 99 cents to $1.01 a share.

To enhance shareholder value, ZoomInfo has announced a $500 million expansion of its stock repurchase program.

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