ZipRecruiter, Inc.

ZipRecruiter reported Q1 2026 revenue of $107.5 million, down 2% year over year and 4% sequentially, with net loss of $4.7 million and adjusted EBITDA of $9.7 million, representing a 9% margin versus 5% in Q1 2025. Quarterly paid employers were over 63,000, flat year over year and up 7% sequentially, and revenue per paid employer was $1,698, down 2% year over year and 10% sequentially. For Q2 2026, management guided to revenue of $112 million at the midpoint, implying flat year-over-year growth and 4% sequential growth, and adjusted EBITDA of $13 million at the midpoint, or a 12% margin. For full-year 2026, they said they expect flat year-over-year revenue, versus a 5% decline in 2025, and adjusted EBITDA margin expansion from 9% in 2025 to 14% in 2026.

Ian Siegel emphasized that ZipRecruiter is focusing on being an “active matchmaker” by increasing meaningful conversations between employers and job seekers. He highlighted the next-generation search and matching AI engine, ZipIntro, Be Seen First, and improved app reviews as evidence that product quality and marketplace engagement are improving. His tone was confident and upbeat, especially around the idea that the company is gaining share now and can outperform when hiring normalizes.

David Travers framed Q1 as evidence that the product-led strategy is working, citing 26% year-over-year growth in engaged job seekers through organic search and 5% year-over-year growth in performance marketing revenue. He said adjusted EBITDA margin improved to 9% from 5% a year ago, and cash, cash equivalents, and marketable securities totaled $393.5 million at March 31; the company also repurchased 3.5 million shares for $9.4 million in the quarter. He said the margin upside came from strong efficiency across G&A, sales and marketing, and R&D, plus high-ROI marketing investments, and reiterated a full-year target of flat revenue and 14% EBITDA margin.

Analysts asked about SMB versus Enterprise trends, the new ZipRecruiter app for ChatGPT, the rollout of the next-generation AI engine, and whether GenAI token costs could affect headcount needs. Management said Enterprise remained a growing share of revenue, with performance marketing up 5% year over year and Enterprise now 24% of revenue, versus 12% in Q1 2019. On AI, they said LLM traffic is still a tiny share but worth investing in early, and that AI is increasing efficiency and accelerating the roadmap rather than being viewed mainly as a cost-cutting tool.