ZoomInfo Technologies Announces 3% Reduction in Workforce
June 3, 2023
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ZOOMINFO ($NASDAQ:ZI): ZoomInfo Technologies, a cloud-based company that provides business intelligence for sales and marketing professionals, has announced that it will reduce its workforce by approximately 3%. The aim of the company is to provide sales and marketing professionals with the data and insights they need to maximize revenue opportunities. The company has stated that the decision to reduce its workforce is part of a restructuring plan that will enable ZoomInfo to focus on its core strengths and expand its customer base. As part of this plan, ZoomInfo has implemented a number of cost-cutting measures to ensure the sustainability of the business. ZoomInfo has stated that it will continue to invest in product innovation and customer service initiatives in order to provide its customers with the best possible experience.
The impact of ZoomInfo Technologies’ workforce reduction is expected to be felt across the company’s business operations. The company has stated that it will be taking all necessary steps to minimize the impact of this decision on its employees and their families. ZoomInfo is also committed to providing those affected by the reduction with assistance during this challenging time.
Analysis
GoodWhale is proud to provide a comprehensive analysis of ZOOMINFO TECHNOLOGIES‘s financials. After evaluating their financial statements, we have assigned them a medium risk rating in terms of both their financial and business aspects. Our analysis has detected three areas of risk in their income statement, balance sheet, and cash flow statement that should be taken into account when assessing their financial health. Register with GoodWhale to explore our detailed analysis and see what other insights we have uncovered. Our team is dedicated to helping you make informed and reliable decisions about your investments, so don’t hesitate to reach out to us if you have any questions. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Zoominfo Technologies. More…
| Total Revenues | Net Income | Net Margin |
| 1.16k | 101.5 | 9.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Zoominfo Technologies. More…
| Operations | Investing | Financing |
| 420.6 | -292.1 | -44.9 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Zoominfo Technologies. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 7.17k | 4.85k | 5.75 |
Key Ratios Snapshot
Some of the financial key ratios for Zoominfo Technologies are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 50.3% | 45.3% | 25.0% |
| FCF Margin | ROE | ROA |
| 33.9% | 7.9% | 2.5% |
Peers
Its competitors include Salesforce Inc, Snowflake Inc, Microsoft Corp.
– Salesforce Inc ($NYSE:CRM)
Salesforce is a cloud-based customer relationship management software company. They offer a variety of software solutions for businesses of all sizes, including Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud, and more. Their products are designed to help businesses automate and streamline their sales, marketing, customer service, and commerce processes. Salesforce has a market cap of $162.59B as of 2022 and a Return on Equity of 0.08%.
– Snowflake Inc ($NYSE:SNOW)
Snowflake Inc is a data warehouse company that focuses on cloud-based data warehousing. The company has a market cap of 51.3B as of 2022 and a Return on Equity of -8.11%. Snowflake was founded in 2012 and is headquartered in San Mateo, California. The company went public in September 2020.
– Microsoft Corp ($NASDAQ:MSFT)
Microsoft Corporation is an American multinational technology company with a market cap of 1.7 trillion as of April 2021. It develops, manufactures, licenses, supports, and sells computer software, consumer electronics, personal computers, and services. Its best known software products are the Microsoft Windows line of operating systems, the Microsoft Office suite, and the Internet Explorer and Edge web browsers. Its flagship hardware products are the Xbox video game consoles and the Microsoft Surface lineup of tablets, laptops, and desktop computers. The company also has a cloud computing division called Azure and a professional social network LinkedIn.
Summary
ZoomInfo Technologies is a provider of business intelligence and contact management tools. For investors, ZoomInfo offers industry-leading insights into market trends and competitive intelligence, allowing them to make informed decisions. Recently, ZoomInfo announced a reduction of its workforce, estimated to be around 3%.
This cost-saving measure is likely to boost the company’s bottom line, as well as create efficiencies in their operations. For investors, ZoomInfo offers a potential long-term growth opportunity, as it continues to expand its market share and maximize its industry presence.
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