- Vimeo ( NASDAQ: VMEO ) continues to slide after posting earnings on Wednesday as weak revenue growth outlook overshadows second quarter's earnings beat.
- Q3 Outlook : The company said revenue growth is expected to exceed 5% Y/Y vs. consensus expectations of ~10% revenue growth; GAAP operating loss to be between $29-$31M, and Adjusted EBITDA loss between $3-$5M.
- For FY 2022 Guidance: Revenue growth expected near 10% year-over-year vs. consensus of 13% ; GAAP operating loss between $107-$112M, and Adjusted EBITDA loss between $20-$25M.
- The video company's second quarter revenue rose 15.6% to $111M, above the consensus estimate by $2.05M.
- GAAP gross profit was $84.1M compared to GAAP gross profit of $70.3M in the second quarter of 2021. Gross profit grew 20% Y/Y.
- Adjusted EBITDA loss was $6.4M compared to loss of $3.8M in Q2 2021.
- Non-GAAP EPS of -$0.03 beats by $0.04.
- Vimeo ended the quarter with $268.1M in cash and cash equivalents.
- "We now have over 9,000 customers sold via our salesforce, representing 35% of our Q2 revenue, and are seeing new products like our recently launched interactive video capabilities gain adoption with companies from Estee Lauder to Splunk," said Vimeo's CEO Anjali Sud.
- Stock is down 9% in premarket , Thursday.
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Vimeo tumbles after Q3 guidance falls below expectation