ZoomInfo Registers Strong Q1 Beat, Boosts 2023 Adj. EPS Guidance - ZoomInfo Technologies (NASDAQ:ZI)

ZoomInfo Technologies Inc ZI reported Q1 2023 revenue growth of 24% Y/Y to $300.7 million, beating the consensus of $300.3 million.
Adjusted EPS was $0.24, beating the consensus of $0.22.
The gross margin expanded by 310 bps to 84.9%. Adjusted operating income rose 26% Y/Y to $120.3 million, with margin of 40%.
ZoomInfo generated cash flow from operations of $108.6 million, compared to $105.0 million a year ago. Unlevered free cash flow was $121.1 million.
At the end of Q1, ZoomInfo had 1,905 customers, with $100,000 or greater in annual contract value.
The company repurchased shares worth $24.3 million in Q1.
Q2 2023 Outlook: ZoomInfo expects revenue of $310 million - $312 million (consensus of $311.29 million), adjusted operating income of $125 million - $127 million, and adjusted EPS of $0.22 - $0.23 (vs consensus of $0.23).
2023 Outlook: The company raised the guidance for adjusted EPS to $0.99 - $1.01 (up from $0.98 - $1.00) vs consensus of $0.98.
It continues to expect revenues of $1.275 billion - $1.285 billion (consensus of $1.280 billion), adjusted operating income of $523 million - $533 million, and unlevered free cash flow of $507 million - $517 million.
"Businesses are unlocking our insights, engaging with customers more effectively, and winning faster through our platform. We're still early in the digital revolution of B2B sales and marketing, but we're in a position to empower every business worldwide to modernize their go-to-market motion," said Henry Schuck, Founder and CEO.
Price Action: ZI shares closed lower by 0.96% at $21.70 on Monday.

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