VMEO - Vimeo stock hits near 3-month low as earnings disappoint

Vimeo (NASDAQ:VMEO) stock fell to a near 3-month low on Thursday after the video-sharing platform reported a wider loss in Q1. Q1 non-GAAP EPS was -$0.07, largely in-line with Street view, vs. $0.06 in Q1 2021. Adj. EBITDA loss was $10.4M vs. adj. EBITDA of $1.3M in Q1 2021, due to investments in product and go to market. Revenue grew 21.3% Y/Y to $108.4M, driven by a 6% increase in subscribers and 12% growth in ARPU. VMEO now has ~1.7M paying subscribers, about flat Q/Q, with over 8K paying Sales-Assisted Customers. Q1 free cash flow was -$27.3M vs. -$0.2M in Q1 of 2021. The company ended Q1 with $291.1M in cash and cash equivalents. VMEO expects Q2 revenue growth of 12-14% Y/Y, or $107.5M-109.4M. Consensus estimate is $109.32M. Q2 adj. EBITDA loss of $11M-13M, representing adj. EBITDA margin of roughly -11% at the midpoint of the guidance. VMEO expects 2022 adj. EBITDA

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Vimeo stock hits near 3-month low as earnings disappoint