ZoomInfo Technologies Inc. (ZI) shares gained 9.89% in after-hours on Monday, August 2, 2021, and closed the daily trading at $60.20 per share. in the regular trading session on Monday, ZI’s stock gained 1.92%. The stock volume remained 3.63 million shares, which was higher than the average daily volume of 1.58 million shares within the past 50 days. ZI shares have risen 34.03% over the last 12 months, and they have moved up 0.74% in the past week. Over the past three months, the stock has gained 9.76%, while over the past six months, it has lost 9.08%.
Let’s have a look at its recent news and developments.
ZI recent financial results announcement
On August 02, 2021, ZoomInfo, (ZI) reported its financial results for the second quarter ended June 30, 2021.
Q2 2021 financial highlights
- ZI reported revenue of $174.0 million in Q2 2021 compared to $110.9 million in Q2 2020.
- The company generated an operating income of $40.9 million in Q2 2021 compared to $31.2 million in Q2 2020.
- Total operating expenses were $102.8 million in Q2 2021 compared to $108.3 million in Q2 2020.
- Net income(loss) was $9.3 million in Q2 2021 compared to $34.3 million of loss in Q2 2020.
- Net income (loss) per basic & diluted share was $0.05 in Q2 2021 compared to $0.30 in Q2 2020.
ZI Q3 2021 financial guidance
For the next quarter, ZI is expecting
- GAAP revenue to be in the range of $182-184 million.
- Non-GAAP adjusted operating income in the range of $72-$74 million
- Non-GAAP adjusted net income per share in the range of $0.11 to $0.12.
Best Workplaces & three Comparably Awards
On July 27, 2021, ZoomInfo (ZI), was named to the 2021 Fortune Best Workplaces for Millennials list.
Earlier on July 21, 2021, ZoomInfo received three more Comparably Awards, including recognition for Best Career Growth and Best Leadership Teams. ZoomInfo Founder and CEO Henry Schuck also appeared on the list of Best CEOs for Diversity.
Pricing of Additional ZI Senior Notes
On July 14, 2021, ZoomInfo Technologies LLC and ZoomInfo Finance Corp which are the indirect subsidiaries of ZoomInfo Technologies, priced their previously announced offering of an additional $300.0 million aggregate principal amount of their existing 3.875% Senior Notes which will be due in 2029.
The Company intends to use the proceeds from the offering, together to repay outstanding revolving credit borrowings under the first lien credit agreement, pay fees and expenses incurred in connection with the transaction, and the remainder for general corporate purposes.
Conclusion
ZI stock performed well after the company announced its Q2 2021 financial results which improved significantly. It can continue its positive momentum in the coming days as well.
