ZoomInfo Technologies Inc. (ZI) demonstrated a remarkable performance in the premarket trading session, with its stock price appreciating to $17.77. This surge reflects a significant change of $1.75, translating to an impressive 10.92% increase from the previous close.
The trading volume in the session stood at 757.55K, indicating a robust interest from investors and possibly reacting to recent company news or market conditions favorable to ZoomInfo.
Such a substantial premarket change often suggests investor optimism and can be a harbinger of heightened activity and attention toward the company during the upcoming trading day.
Latest News
In the latest financial discourse, ZoomInfo (NASDAQ: ZI), a leading platform renowned for its efficacy in streamlining the market outreach process, has unveiled its earnings report for both the final quarter of 2023 and the cumulative fiscal year ending on December 31, 2023.
Delving into the financial specifics for the fourth quarter, ZoomInfo witnessed a revenue tally of $316.4 million, marking a year-over-year augmentation of 5%. The quarter was further highlighted by an operating income reported under GAAP at $70.5 million, with its adjusted counterpart reaching $126.5 million. Profitability metrics painted a positive picture with GAAP operating margins standing at 22% and an elevated adjusted figure of 40%. The cash flow narrative remained strong with operational cash flow under GAAP hitting $128.8 million, accompanied by an unlevered free cash flow of $126.0 million.
Extending the fiscal telescope to the entire year, ZoomInfo celebrated a robust increase in GAAP revenue, which soared to $1,239.5 million, up by 13% from the previous year. As per GAAP, the operating income for the year settled at $259.5 million with an adjusted operating income nearly doubling to $498.6 million. The operating income margins were reported at a consistent 21% under GAAP, maintaining an adjusted margin stasis at 40%. The company’s operational efficiency translated into a strong cash flow from operations, which stood at $434.9 million, and an unlevered free cash flow impressively concluded at $463.5 million.
