DHI Group, Inc. the owners of Dice.com and other job boards reported earnings recently. In summary, their revenue was pretty flat except for ClearanceJobs.com which is now up to $6 million in revenue. They also published what they are up to with each site which I thought you would find interesting.
Second Quarter 2019 Financial Highlights
- Revenues were $37.4 million. Ongoing tech-focused1 revenues were up 1% year over year and 2% excluding the effect of foreign exchange
- Dice revenues were $23.2 million, down 1%, compared to the prior year period and up slightly on a sequential basis
- eFinancialCareers revenues were $8.1 million, in line with the prior year period, excluding foreign exchange
- ClearanceJobs revenues were $6.0 million, up 17% year over year
- Net income was $3.1 million, or $0.06 per diluted share, compared to a net loss of $(0.2) million, or $0.00 per diluted share in the year ago quarter
- Cash flow from operations was $11.1 million
- Cash was $7.6 million; total debt reduced to $10 million
- Adjusted EBITDA2 was $9.1 million and Adjusted EBITDA margin2 was 24%
Commenting on the quarter, Art Zeile, President and CEO of DHI Group, Inc., said:
“We are pleased to report our second consecutive quarter of year-over-year growth in our ongoing tech-focused1revenues, reflecting the solid progress we continue to make on our product, sales and marketing efforts. We further strengthened our product offering, adopting several industry leading product features from ClearanceJobs into our Dice and eFinancialCareers brands, and continued to build out our commercial sales team, which was launched late last year. While we still have lots of work ahead, we expect these efforts will further position DHI to become the industry leader for matching tech professionals with employers.”
1 Excludes Dice Europe, which ceased operations August 31, 2018.
2 See “Notes Regarding the Use of Non-GAAP Financial Measures” later in this press release.
Second Quarter 2019 Product Highlights
- Released Candidate Match, which uses DHI’s AI-based technology skills data model to grade each candidate’s skills, experience and relevance against the requirements of a job posting.
- Launched improved employer Jobs Management in beta, with new features including improved search, metrics-at-a-glance and usage status, that enable a better workflow for our clients when it comes to managing their job postings.
- Launched new personalized Dice.com home page for candidates that curates job recommendations, suggests profile updates and highlights salary predictions and career paths based on their profile.
- Launched Job Search and Job Alerts in beta, which deliver improved search relevance and user experience to candidates by applying our tech skills data model.
- Launched Recruiter Profile, which is the first step in creating a trusted network between recruiters and candidates. Recruiters can now create a profile with personalized photos, contact information and job postings that can be shared with candidates.
- Launched Messaging platform in beta, which is an in-app messaging service that allows recruiters and candidates to chat in real time. In ClearanceJobs, Messaging and Recruiter Profile were successful in more than doubling recruiter connections with candidates.
- Launched BrandAmp, which gives employers effective new ways to bring their job postings to life. With large format photos, videos, social links and featured company recruiters, BrandAmp creates a compelling first impression to security-cleared professionals.
The Company expects its ongoing tech-focused1 business will continue to achieve modest year over year revenue growth in the second half of the year. The Company further anticipates that Dice will turn to positive year over year revenue growth in the fourth quarter of 2019. The Company expects its Adjusted EBITDA margin2 for the full year to be approximately 23%, as the Company continues to increase its product and engineering capacity, as well as invest in more sales and marketing resources to accelerate growth. The Company is unable to provide guidance for net income because it cannot reasonably assess the impact of stock-based compensation and income tax expense.
Subscribe via RSS