ZoomInfo Announces Fourth Quarter and Full-Year 2021 Financial Results|||

Fourth Quarter GAAP Revenue of $222.3 one thousand thousand Grows 59% year-over-year

4th Quarter GAAP Operating Income Margin of 11% and Adapted Operating Income Margin of 39%

4th Quarter Cash Menstruation from Operations of $71.three one thousand thousand and Unlevered Costless Greenbacks Flow of $84.4 million

VANCOUVER, Wash.–(BUSINESS WIRE)–ZoomInfo, (NASDAQ: ZI) a global leader in modern become-to-market software, data, and intelligence, today announced its financial results for the fourth quarter and full-twelvemonth ended December 31, 2021.

“In 2021 nosotros delivered a leading combination of growth and profitability, significantly expanded our platform, added more new customers than ever before, and drove tape customer retention,” said Henry Schuck, ZoomInfo Founder and CEO. “2021 was a transformative year for ZoomInfo, and we proceed to execute our vision to deliver a comprehensive revenue operating system that reimagines how businesses become-to-market.”

Fourth Quarter 2021 Financial Highlights:

  • Revenue of $222.iii one thousand thousand, an increment of 59% year-over-year.
  • Operating income of $24.2 meg and Adjusted Operating Income of $86.four meg.
  • GAAP operating income margin of xi% and Adjusted Operating Income Margin of 39%.
  • Cash period from operations of $71.three million, and Unlevered Free Cash Menses of $84.4 million.

Total-Twelvemonth 2021 Fiscal Highlights:

  • Revenue of $747.2 one thousand thousand, an increment of 57% year-over-twelvemonth.
  • Operating income of $113.iii 1000000 and Adjusted Operating Income of $306.half-dozen one thousand thousand.
  • GAAP operating income margin of xv% and Adjusted Operating Income Margin of 41%.
  • Greenbacks flow from operations of $299.4 million, and Unlevered Gratuitous Cash Flow of $347.0 million.

Recent Business organisation and Operating Highlights:

  • Announced the expansion of the company’due south global operations in London. The company plans to relocate some of its senior executives to London in 2022 and is actively hiring for U.Thou. roles to expand sales and service capabilities locally and regionally. International revenue is currently more than $100 meg on an annualized basis; in 2021 international revenue increased 91% and represented 11% of revenue.
  • Appear a partnership with Google Cloud allowing customers to integrate ZoomInfo’s leading business-to-business appointment in Google BigQuery. Through this partnership, customers can expect to come across ZoomInfo and Google Deject converging through product innovations and integrations, start with seamless access to ZoomInfo data and intelligence directly within Google BigQuery.
  • Completed the elimination of the Upwardly-C corporate structure resulting in a single grade of outstanding common stock, with one vote per share.
  • The company’s annual cyberspace revenue retentiveness rate for 2021 was 116%, equally compared to 108% for 2020.
  • Closed the quarter with 1,452 customers with $100,000 or greater in annual contract value.

Q4 2021 Financial Highlights (Unaudited)

($ in millions, except per share amounts)

GAAP

Quarterly

Results

Change YoY

Non-GAAP

Quarterly

Results

Alter YoY

Acquirement

$

222.3

59

%

Operating Income

$

24.2

(eighteen

)%

Adjusted Operating

Income

$

86.4

36

%

Operating Income Margin

11

%

Adjusted Operating

Income Margin

39

%

Internet Income Per Share

(Diluted)

$

0.36

Adjusted Net Income per

share (Diluted)

$

0.18

Cash Flow from Operating

Activities

$

71.3

7

%

Unlevered Free Cash Flow

$

84.4

10

%

FY 2021 Fiscal Highlights (Unaudited)

($ in millions, except per share amounts)

GAAP

Results

Change YoY

Non-GAAP

Results

Change YoY

Acquirement

$

747.2

57

%

Operating Income

$

113.3

205

%

Adjusted Operating

Income

$

306.vi

36

%

Operating Income Margin

15

%

Adapted Operating

Income Margin

41

%

Cyberspace Income Per Share (Diluted)

$

0.43

Adjusted Net Income per

share (Diluted)

$

0.57

Greenbacks Flow from Operating Activities

$

299.4

77

%

Unlevered Free Cash Period

$

347.0

42

%

The Company uses a variety of operational and financial metrics, including non-GAAP financial measures, to evaluate its performance and fiscal status. The accompanying financial information includes boosted data regarding these metrics and a reconciliation of non-GAAP financial measures for historical periods to the most directly comparable GAAP financial measures. The presentation of non-GAAP fiscal data should not be considered in isolation or every bit a substitute for, or superior to, the financial information prepared and presented in accord with GAAP.

Concern Outlook:

Based on information available as of February 15, 2022, ZoomInfo is issuing guidance for the beginning quarter and total-twelvemonth 2022 as follows:

Q1 2022

FY 2022

GAAP Acquirement

$226 – $228 million

$1.01 – $1.02 billion

Not-GAAP Adjusted Operating Income

$86 – $88 million

$405 – $415 million

Non-GAAP Adjusted Net Income per share

$0.14 – $0.15

$0.71 – $0.73

Non-GAAP Unlevered Free Cash Flow

Not guided

$425 – $435 million

Based on showtime quarter and full-year 2022 weighted boilerplate shares outstanding of 408 million and 410 million, respectively.

Briefing Call and Webcast Information:

ZoomInfo will host a conference telephone call today, February xv, 2022, to review its results at four:thirty p.g. Eastern Time, one:30 p.g. Pacific Time. The call will be accessible by telephone: (833) 519-1261 (U.S.) or (914) 800-3834 (International) with the passcode: 3356177.

The phone call will as well 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 briefing call, an archived webcast of the call will exist bachelor for i yr on ZoomInfo’s Investor Relations website.

Non-GAAP Fiscal 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 Internet Income, Adjusted Net Income Per Share, and Unlevered Free Cash Catamenia. We believe these non-GAAP measures are useful to investors in evaluating our operating functioning considering they eliminate sure items that touch on menstruation-over-period comparability and provide consistency with past financial performance and boosted data about our underlying results and trends by excluding sure items that may not exist indicative of our business, results of operations, or outlook.​

Non-GAAP financial measures are non meant to be considered in isolation or as a substitute for the comparable GAAP measures, merely rather every bit supplemental information to our business organisation results. This information should be read but in conjunction with our consolidated financial statements prepared in accordance with GAAP. There are limitations to these not-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 beingness adjusted. In addition, other companies may apply unlike measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparing. A reconciliation is provided at the stop of this printing release for each historical non-GAAP fiscal measure to the most directly comparable financial measure stated in accord with GAAP. We do not provide a quantitative reconciliation of the frontward-looking not-GAAP financial measures included in this printing release to the virtually 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 bounty expense, taxes and amounts under the substitution revenue enhancement receivable understanding, deferred tax assets and deferred tax liabilities, and restructuring and transaction expenses. We expect the variability of these excluded items may have a pregnant, and potentially unpredictable, bear on on our future GAAP financial results.

Nosotros define Adjusted Operating Income every bit income from operations plus (i) impact of fair value adjustments to acquired unearned acquirement, (ii) amortization of acquired technology and other acquired intangibles, (3) equity-based compensation expense, (iv) restructuring and transaction-related expenses, and (five) integration costs and acquisition-related compensation. Nosotros define Adapted 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, internet, excluding TRA liability remeasurement expense (benefit) and (three) income tax expense (benefit) including incremental taxation effects of adjustments to arrive at Adapted Operating Income and current revenue enhancement benefits related to the TRA. We define Adjusted Net Income Per Share every bit Adjusted Net Income divided by diluted weighted average shares outstanding.

We define Unlevered Costless Greenbacks Menses as net cash provided from operating activities less (i) purchases of property and equipment and other avails, plus (ii) greenbacks involvement expense, (three) greenbacks 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 stand for residual cash flow available for discretionary expenditures since, amongst other things, we have mandatory debt service requirements.

Internet revenue retention is an annual metric that we summate based on customers that were contracted for services at the outset of the year, or, for those that became customers through an acquisition, at the fourth dimension of the acquisition. Net revenue retentivity is calculated as: (a) the ACV for those customers at the end of the year divided past (b) ZoomInfo ACV at the beginning of the twelvemonth plus the ACV of caused companies at the time of acquisition.

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 past these statements. You can generally place our forward-looking statements by the words “anticipate,” “believe,” “tin can,” “continue,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “may,” “might,” “objective,” “outlook,” “plan,” “potential,” “predict,” “projection,” “seek,” “should,” “target,” “trend,” “volition,” “would” or the negative version of these words or other comparable words. Whatsoever statements in this press release regarding time to come revenue, earnings, margins, fiscal performance, cash flow, liquidity or results of operations (including, simply not limited to, the guidance provided under “Business Outlook”), and whatever other statements that are not historical facts are frontwards-looking statements. We have based our forward-looking statements on our management’southward beliefs and assumptions based on data bachelor to our management at the time the statements are fabricated. We circumspection you that assumptions, beliefs, expectations, intentions and projections about future events may and often do vary materially from bodily results. Therefore, we cannot clinch y’all that actual results volition not differ materially from those expressed or implied past our forward-looking statements.

Factors that could crusade actual results to differ from those expressed or implied by our forrard-looking statements include, amid other things: futurity economical, competitive, and regulatory conditions, the COVID-nineteen pandemic, the successful integration of acquired businesses, and future decisions made by united states of america and our competitors. All of these factors are difficult or impossible to predict accurately and many of them are beyond our control. For a farther list and description of these and other important risks and uncertainties that may bear upon our futurity operations, see Function I, Item 1A – Adventure Factors in our almost recent Almanac Report on Class ten-K filed with the Securities and Commutation Committee, which nosotros may update in Office Ii, Detail 1A – Risk Factors in Quarterly Reports on Form ten-Q nosotros have filed or will file hereafter. 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 forwards-looking argument independent in this presentation speaks only as of the appointment of this presentation, and nosotros undertake no obligation to update or revise any forwards-looking statements whether as a result of new information, futurity developments or otherwise, except as required by law.

Near ZoomInfo:

ZoomInfo (NASDAQ: ZI) is a leader in modern go-to-marketplace software, data, and intelligence for more 25,000 companies worldwide. ZoomInfo’s revenue operating organization, RevOS, empowers business organisation-to-business organization sales, marketing, operations, and recruiting professionals to striking their number by pairing best-in-class technology with unrivaled information coverage, accuracy, and depth of company and contact information. With integrations embedded into workflows and technology stacks, including the leading CRM, Sales Date, 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 manufacture’due south first proactive notice plan, the visitor is a registered data broker with united states of america of California and Vermont. Read about ZoomInfo’s commitment to compliance, privacy, and security. For more than information about ZoomInfo’due south leading go-to-market software, data, and intelligence, and how they help sales, marketing, operations, and recruiting professionals, please visit www.zoominfo.com.

Website Disclosure:

ZoomInfo intends to utilise its website as a distribution aqueduct of material company data. Financial and other important information regarding the Visitor is routinely posted on and attainable through the Company’due south website at https://ir.zoominfo.com/. Accordingly, yous should monitor the investor relations portion of our website at https://ir.zoominfo.com/ in addition to post-obit our printing releases, SEC filings, and public conference calls and webcasts. In improver, you may automatically receive e-mail alerts and other information nigh ZoomInfo when y’all enroll your electronic mail 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 information; unaudited)

December 31,

2021

2020

Assets

Electric current assets:

Greenbacks and cash equivalents

$

308.3

$

269.8

Short-term investments

18.4

30.6

Restricted cash, current

1.2

Accounts receivable

187.0

121.ii

Prepaid expenses and other current assets

27.1

14.3

Income tax receivable

4.9

2.four

Total electric current assets

545.vii

439.five

Restricted greenbacks, non-current

5.8

Holding and equipment, net

41.seven

31.0

Operating lease right-of-use avails, net

59.8

32.0

Intangible assets, net

431.0

365.7

Goodwill

1,575.1

1,000.ane

Deferred revenue enhancement assets

4,116.0

415.7

Deferred costs and other assets, net of current portion

77.8

43.four

Total assets

$

6,852.9

$

two,327.4

Liabilities and Permanent Disinterestedness

Current liabilities:

Accounts payable

$

xv.9

$

viii.half dozen

Accrued expenses and other electric current liabilities

103.three

81.5

Unearned revenue, electric current portion

361.5

221.3

Income taxes payable

8.four

3.4

Current portion of tax receivable agreements liability

10.4

Electric current portion of operating lease liabilities

8.1

vi.0

Total electric current liabilities

507.6

320.8

Unearned revenue, cyberspace of current portion

ii.vii

1.four

Revenue enhancement receivable agreements liability, net of current portion

iii,046.0

271.0

Operating lease liabilities, net of current portion

61.5

33.6

Long-term debt, internet of current portion

1,232.9

744.9

Deferred tax liabilities

1.5

eight.3

Other long-term liabilities

2.viii

7.8

Total liabilities

4,855.0

i,387.8

Commitments and Contingencies

Permanent Equity

Course A common stock, par value $0.01

4.0

0.nine

Class B mutual stock, par value $0.01

ii.two

Grade C common stock, par value $0.01

0.9

Boosted paid-in capital

i,871.half dozen

505.2

Accumulated other comprehensive income (loss)

ix.five

(2.four

)

Retained Earnings

112.8

(4.0

)

Noncontrolling interests

436.8

Total disinterestedness

1,997.9

939.6

Total liabilities and permanent disinterestedness

$

half dozen,852.9

$

ii,327.4

ZoomInfo Technologies Inc.

Consolidated Statements of Operations


(in millions, except per share amounts; unaudited)

Three Months Ended December 31,

Year Ended Dec 31,

2021

2020

2021

2020

Revenue

$

222.iii

$

139.7

$

747.two

$

476.2

Price of service:

Price of service(2)

29.iii

20.0

101.four

84.2

Amortization of caused technology

11.one

half-dozen.6

35.three

23.iii

Gross turn a profit

181.9

113.i

610.5

368.seven

Operating expenses:

Sales and marketing(2)

77.1

45.2

241.1

184.nine

Enquiry and evolution(2)

forty.9

14.5

119.7

51.4

General and administrative(2)

28.3

17.v

92.iv

62.8

Amortization of other caused intangibles

5.3

four.viii

twenty.3

eighteen.vii

Restructuring and transaction related

expenses

6.1

1.5

23.7

thirteen.8

Total operating expenses

157.seven

83.v

497.2

331.half-dozen

Income (loss) from operations

24.ii

29.6

113.3

37.1

Interest expense, net

xiii.4

x.0

43.9

69.3

Loss on debt modification and extinguishment

seven.7

14.9

Other (income) expense, net

(39.one

)

(11.half-dozen

)

(39.3

)

(15.4

)

Income (loss) before income taxes

49.9

31.2

101.0

(31.7

)

Income taxation expense (benefit)

(95.3

)

(5.ane

)

6.i

iv.vii

Net income (loss)

145.2

36.iii

94.9

(36.iv

)

Less: Internet income (loss) attributable to ZoomInfo

OpCo prior to the Reorganization Transactions

(v.1

)

Less: Net income (loss) owing to

noncontrolling interests

0.iii

10.8

(21.9

)

(27.3

)

Net income (loss) attributable to ZoomInfo

Technologies Inc.

$

144.ix

$

25.5

$

116.8

$

(4.0

)

Net income (loss) per share of Grade A and Course

C common stock(1):

Bones

$

0.37

$

0.sixteen

$

0.46

$

(0.ten

)

Diluted

$

0.36

$

0.14

$

0.43

$

(0.xi

)

(1) Bones and diluted net income (loss) per share of Class A and Class C common stock is applicable merely for periods after the initial public offering (“IPO”) and related Reorganization Transactions.

(2) Amounts include equity-based compensation expense, every bit follows:

Cost of service

$

iii.vii

$

3.6

$

xiii.2

$

27.four

Sales and marketing

xiii.one

9.0

38.two

62.vi

Enquiry and development

11.ane

one.7

24.3

xiii.6

General and administrative

5.iv

three.1

17.3

18.0

Total equity-based compensation expense

$

33.iii

$

17.iv

$

93.0

$

121.6

ZoomInfo Technologies Inc.

Consolidated Statements of Cash Flows


(in millions; unaudited)

Year Ended December 31,

2021

2020

Cash flows from operating activities:

Internet income (loss)

$

94.9

$

(36.4

)

Adjustments to reconcile net income (loss) to net cash provided past (used in)

operating activities:

Depreciation and acquittal

69.3

l.viii

Acquittal of debt discounts and issuance costs

2.5

3.9

Amortization of deferred commissions costs

41.7

25.i

Asset impairments

2.7

Loss on debt modification and extinguishment

7.vii

14.9

Deferred consideration valuation adjustments

0.2

1.3

Equity-based bounty expense

93.0

121.6

Deferred income taxes

(14.5

)

(i.8

)

Taxation receivable agreement remeasurement

(39.five

)

(15.7

)

Provision for bad debt expense

4.five

i.four

Changes in operating avails and liabilities, net of acquisitions:

Accounts receivable

(66.i

)

(32.9

)

Prepaid expenses and other current assets

(9.8

)

(5.ix

)

Deferred costs and other avails

(53.4

)

(40.0

)

Income tax receivable

(2.three

)

1.5

Accounts payable

4.6

(0.two

)

Accrued expenses and other liabilities

32.5

21.9

Unearned revenue

131.4

60.one

Net cash provided past (used in) operating activities

299.4

169.vi

Cash flows from investing activities:

Purchases of short-term investments

(119.viii

)

(30.6

)

Maturities of curt-term investments

61.three

Proceeds from sales of short-term investments

lxx.5

Purchases of property and equipment and other assets

(23.half-dozen

)

(16.eight

)

Greenbacks paid for acquisitions, cyberspace of greenbacks acquired

(684.two

)

(65.ix

)

Net cash provided by (used in) investing activities

(695.8

)

(113.iii

)

Greenbacks flows from financing activities:

Payments of deferred consideration

(9.four

)

(24.vii

)

Proceeds from debt issuances

1,071.8

35.0

Repayment of debt

(581.iv

)

(510.9

)

Payments of debt issuance and modification costs

(eleven.6

)

(1.0

)

Proceeds from exercise of stock options

2.1

Repurchase outstanding equity / fellow member units

(332.4

)

Taxes paid related to net share settlement of equity awards

(10.four

)

(0.4

)

Proceeds from equity offering, net of underwriting discounts

1,023.7

Payments of equity issuance costs

(1.7

)

(seven.2

)

Tax distributions

(nineteen.ix

)

(9.9

)

Cyberspace cash provided by (used in) financing activities

439.v

172.2

Net increase (subtract) in greenbacks, cash equivalents, and restricted greenbacks

43.1

228.5

Greenbacks, cash equivalents, and restricted cash at kickoff of year

271.0

42.v

Cash, cash equivalents, and restricted cash at end of yr

$

314.1

$

271.0

Cash, cash equivalents, and restricted cash at end of period:

Greenbacks and cash equivalents

$

308.iii

$

269.8

Restricted cash, current

1.2

Restricted greenbacks, non-current

5.viii

Total cash, greenbacks equivalents, and restricted cash

$

314.1

$

271.0

Supplemental disclosures of cash menses data:

Interest paid in cash:

$

33.3

$

66.5

Greenbacks paid for taxes

$

xviii.one

$

1.9

Supplemental disclosures of non-cash investing and financing activities:

Property and equipment included in accounts payable and accrued expenses

and other current liabilities

$

1.2

$

Deferred consideration from acquisition of a business

$

ii.2

$

ZoomInfo Technologies Inc.

Reconciliation of GAAP Cash Flow From Operations to Unlevered Complimentary Cash Menstruum


($ in millions; unaudited)

Three Months Ended December 31,

Year Ended December 31,

2021

2020

2021

2020

Cash period from operations

$

71.3

$

66.eight

$

299.iv

$

169.6

Purchases of property and equipment and other assets

(7.8

)

(four.nine

)

(23.6

)

(16.8

)

Interest paid in cash

seven.0

9.7

33.three

66.5

Restructuring and transaction-related expenses paid in

cash

4.9

1.4

24.2

13.1

Integration costs and acquisition-related compensation

paid in greenbacks

9.0

3.7

thirteen.7

11.iii

Unlevered Free Cash Menstruation

$

84.4

$

76.6

$

347.0

$

243.7

ZoomInfo Technologies Inc.

Reconciliation of GAAP Internet Income (Loss) to Adjusted Internet Income and Income (Loss) From

Operations to Adapted Operating Income


(in millions, except per share amounts; unaudited)

Three Months Ended December 31,

Year Ended December 31,

2021

2020

2021

2020

Net income (loss)

$

145.2

$

36.iii

$

94.9

$

(36.4

)

Add (less): Expense (benefit) from income

taxes

(95.3

)

(5.1

)

half-dozen.1

four.vii

Add: Interest expense, internet

13.iv

x.0

43.9

69.3

Add: Loss on debt modification and

extinguishment

7.seven

14.ix

Add together (less): Other expense (income), cyberspace

(39.1

)

(eleven.6

)

(39.3

)

(15.4

)

Income (loss) from operations

24.2

29.half-dozen

113.3

37.ane

Add: Impact of fair value adjustments to

acquired unearned revenue

ane.ix

0.7

4.6

2.6

Add: Amortization of acquired applied science

11.i

6.6

35.iii

23.three

Add: Amortization of other acquired

intangibles

5.3

four.8

20.three

18.7

Add: Disinterestedness-based bounty

33.3

17.4

93.0

121.6

Add: Restructuring and transaction-related

expenses

6.1

1.5

23.7

13.8

Add: Integration costs and acquisition-related

expenses

4.4

3.0

16.4

9.0

Adjusted Operating Income

86.4

63.4

306.6

226.0

Less: Interest expense, internet

(13.4

)

(x.0

)

(43.9

)

(69.3

)

Less (add): Other expense (income), internet,

excluding TRA liability remeasurement

(benefit) expense

(0.2

)

(0.ii

)

(0.3

)

(0.iii

)

Add (less): Benefit (expense) from income

taxes

95.three

5.1

(vi.i

)

(four.7

)

Less: Tax impacts of adjustments to net

income (loss)

(94.8

)

(10.one

)

(25.3

)

(13.5

)

Adjusted Net Income

$

73.2

$

48.3

$

231.1

$

138.2

Shares for Adjusted Net Income Per Share(1)

407

403

405

403

Adapted Net Income Per Share

$

0.eighteen

$

0.12

$

0.57

$

0.34

Contacts

Investors:

Jeremiah Sisitsky

VP, Investor Relations

617-826-2068

IR@zoominfo.com

Media:

Steve Vittorioso

Director, Communications

978-875-1297

PR@zoominfo.com

Read full story here

Source: https://www.dailyhostnews.com/zoominfo-announces-fourth-quarter-and-full-year-2021-financial-results

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