ZoomInfo Technologies Inc.

Q2 GAAP revenue was $310 million, up 1.2% year over year. Adjusted operating income was $110 million, up 5% year over year, with a 35% margin. Unlevered free cash flow was $107 million, with 98% conversion from adjusted operating income; GAAP operating cash flow was $87 million. Non-GAAP stock-based compensation was $25.7 million, down 13% year over year and equal to 8% of revenue. For Q3, the company expects GAAP revenue of $298 million to $301 million, adjusted operating income of $113 million to $115 million, and non-GAAP EPS of $0.28 to $0.29. For full-year 2026, guidance was raised to GAAP revenue of $1.207 billion to $1.217 billion, adjusted operating income of $446 million to $451 million, non-GAAP EPS of $1.12 to $1.13, and unlevered free cash flow of $403 million to $423 million.

Henry Schuck framed the quarter as progress on a broader transition toward innovative enterprise-grade products, stronger cash generation, and a return to durable growth. He highlighted GTM.AI, new integrations into AI and workflow tools, and a hybrid pricing model that will start later this quarter, but stressed the company is being intentional and not yet counting on upside from those changes. His tone was confident and strategic, emphasizing stronger competitive positioning, enterprise trust, and a long-term focus on free cash flow per share.

Graham O’Brien emphasized that the quarter delivered strong profitability and cash flow, with $310 million of revenue, $110 million of adjusted operating income at a 35% margin, and $107 million of unlevered free cash flow. He also pointed out the $651 million noncash goodwill impairment and a $35 million restructuring charge, plus $10 million of cash interest paid in the quarter. On capital allocation, he said ZoomInfo repurchased 6.3 million shares for $28 million and retired $58.5 million of senior notes for $48 million, reducing future cash interest by $2.3 million per year. He ended with a comfortable liquidity and leverage profile, including $151 million of cash, $1.27 billion of gross debt, and net leverage of 2.3x.

Analysts focused on the implied second-half slowdown, the pace of adoption for consumption-based pricing, and whether software weakness could spread beyond that vertical. Management said the raised guidance mostly reflects Q2 overperformance, that it is not assuming much impact from the pricing change in Q3, and that rollout to the customer base will be gradual later this year and into 2027. They also said non-software verticals continue to perform consistently or improve, while the software footprint in the lower end of upmarket remains the main headwind.