ZoomInfo Technologies Inc
For the period ended Dec 31, 2023. Filed Feb 15, 2024.
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FY2023 · Filed Feb 15, 2024
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Consolidated Statements of Operations
| ZoomInfo Technologies Inc. | |||
|---|---|---|---|
| Consolidated Statements of Operations | |||
| (in millions, except per share amounts) | |||
| Year Ended December 31, | |||
| 2023 | 2022 | 2021 | |
| Revenue | $1,239.5 | $1,098.0 | $747.2 |
| Cost of service: | |||
| Cost of service(2) | 139.0 | 140.2 | 101.4 |
| Amortization of acquired technology | 39.1 | 48.2 | 35.3 |
| Gross profit | $1,061.4 | $909.6 | $610.5 |
| Operating expenses: | |||
| Sales and marketing(2) | 406.4 | 379.3 | 241.1 |
| Research and development(2) | 189.8 | 205.2 | 119.7 |
| General and administrative(2) | 173.5 | 123.2 | 92.4 |
| Amortization of other acquired intangibles | 21.9 | 22.0 | 20.3 |
| Restructuring and transaction-related expenses | 10.3 | 4.1 | 23.7 |
| Total operating expenses | 801.9 | 733.8 | 497.2 |
| Income (Loss) from operations | $259.5 | $175.8 | $113.3 |
| Interest expense, net | 45.2 | 47.6 | 43.9 |
| Loss on debt modification and extinguishment | 4.3 | — | 7.7 |
| Other (income) loss, net | (178.8) | (66.4) | (39.3) |
| Income (Loss) before income taxes | $388.8 | $194.6 | $101.0 |
| Provision (Benefit) for income taxes | 281.5 | 131.4 | 6.1 |
| Net income (loss) | $107.3 | $63.2 | $94.9 |
| Less: Net income (loss) attributable to noncontrolling interests | — | — | (21.9) |
| Net income (loss) attributable to ZoomInfo Technologies Inc. | $107.3 | $63.2 | $116.8 |
| Net income (loss) per share of Common Stock attributable to ZoomInfo Technologies Inc.(1): | |||
| Basic | $0.27 | $0.16 | $0.46 |
| Diluted | 0.27 | 0.16 | 0.43 |
(1)Basic and diluted net income (loss) per share for the year ended December 31, 2021 assumes all Old ZoomInfo shares at the time of the Holding Company Reorganization equal shares of New ZoomInfo. Refer to Note 13 - Earnings Per Share for the number of shares used in, as well as the basis for, the computation of net income (loss) per share of Common Stock.
(2)Amounts include equity-based compensation expense, as follows:
| Year Ended December 31, | |||
|---|---|---|---|
| (in millions) | 2023 | 2022 | 2021 |
| Cost of service | $15.7 | $20.2 | $13.2 |
| Sales and marketing | 71.3 | 80.4 | 38.2 |
| Research and development | 45.1 | 65.7 | 24.3 |
| General and administrative | 35.5 | 26.0 | 17.3 |
| Total equity-based compensation expense | $167.6 | $192.3 | $93.0 |
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