Mission Statement, Vision, & Core Values (2024) of ZoomInfo Technologies Inc. (ZI).

An Overview of ZoomInfo Technologies Inc. (ZI)

General Summary of ZoomInfo Technologies Inc. (ZI)

ZoomInfo Technologies Inc. (ZI) is a leading provider of go-to-market intelligence solutions. Founded in 2000, the company specializes in delivering data and insights for sales and marketing teams through its SaaS platform. ZoomInfo's offerings include a comprehensive database of business contacts and companies, advanced analytics, and tools that help organizations enhance their marketing strategies and sales processes.

As of 2024, ZoomInfo reported a total revenue of $601.6 million for the six months ended June 30, 2024, marking a slight decrease of 1% compared to $609.3 million for the same period in 2023 .

Company's Financial Performance in the Latest Financial Reports

In the second quarter of 2024, ZoomInfo reported revenue of $291.5 million, a decrease of 6% from $308.6 million in Q2 2023. This decline was attributed to a change in accounting estimates that reduced revenue by $15.3 million .

The company's gross profit for the three months ended June 30, 2024, was $245.6 million, resulting in a gross margin of 84%, down from 86% in the previous year .

Operating expenses increased significantly, totaling $265.6 million for Q2 2024, which is an increase of 29% compared to $205.4 million in Q2 2023. This increase was largely due to higher general and administrative costs .

Net loss for the quarter was $24.4 million, a decrease of 164% from a net income of $38.1 million in Q2 2023 .

For the six months ended June 30, 2024, ZoomInfo's net income (loss) was ($9.3 million), compared to a net income of $82.6 million in the same period of 2023 .

Introduction to Company as a Leader in the Industry

ZoomInfo has established itself as a leader in the business intelligence and data solutions industry by providing robust tools that empower sales and marketing professionals. The company's focus on innovation and customer satisfaction has resulted in a strong customer base, with 1,797 customers contracting for more than $100,000 in annual contract value (ACV) as of June 30, 2024 .

With a net revenue retention rate of 85%, ZoomInfo continues to adapt its offerings to meet the evolving needs of its clients, ensuring sustained growth in a competitive landscape .

Mission Statement of ZoomInfo Technologies Inc. (ZI)

Mission Statement of ZoomInfo Technologies Inc. (ZI)

ZoomInfo Technologies Inc. (ZI) emphasizes its commitment to empowering businesses with essential data-driven insights to enhance their sales, marketing, and operational strategies. The mission statement serves as a guiding principle for the company's long-term objectives, focusing on delivering high-quality products and services that meet the evolving needs of its customers.

Core Component 1: Empowering Businesses

At the heart of ZoomInfo's mission is the goal of empowering businesses. This is reflected in their dedication to providing a platform that offers comprehensive and accurate information about companies and professionals. As of June 30, 2024, ZoomInfo reported a revenue of $291.5 million for the second quarter, demonstrating their capability to support businesses in achieving their sales and marketing goals.

This decline in revenue is attributed to a change in accounting estimates, which has led to adjustments in revenue recognition.

Core Component 2: Data-Driven Insights

ZoomInfo's mission highlights the importance of data-driven insights. The company utilizes advanced analytics and a robust data infrastructure to deliver actionable intelligence. With over 1,797 customers contracting for more than $100,000 in annual contract value (ACV) as of June 30, 2024, the demand for their insights reflects their effectiveness in enhancing customer engagement.

Furthermore, the net revenue retention rate stood at 85%, indicating a strong capability to maintain and expand customer relationships.

Core Component 3: High-Quality Products and Services

ZoomInfo is committed to delivering high-quality products and services that help clients improve their operational efficiency. The company invests significantly in research and development, with expenditures of $48.3 million in the second quarter of 2024. This investment underscores their focus on continuous improvement and innovation within their platform.

The significant increase in general and administrative expenses is primarily due to charges related to lease impairments and legal settlements.

Through these core components, ZoomInfo Technologies Inc. emphasizes its mission to drive business success by providing essential tools and insights that help companies navigate complex market landscapes.

Vision Statement of ZoomInfo Technologies Inc. (ZI)

Vision Statement Overview

The vision statement of ZoomInfo Technologies Inc. (ZI) emphasizes the company’s commitment to providing unparalleled access to business data and intelligence. As of 2024, the company aims to empower organizations with the insights needed to drive growth and efficiency.

Commitment to Innovation

ZoomInfo envisions a future where its advanced data analytics and AI-driven insights transform the way businesses operate. In 2024, the company allocated approximately $92.0 million to research and development, focusing on enhancing its product offerings and integrating new technologies .

Customer-Centric Approach

The company’s vision includes a strong commitment to customer satisfaction and success. As of June 30, 2024, ZoomInfo reported an unearned revenue of $440.4 million, indicating robust subscription growth and customer retention . This reflects a strategic focus on delivering value through continuous engagement and support.

Global Market Expansion

ZoomInfo's vision also encompasses global expansion. The company has been actively pursuing new markets and increasing its international presence. In the six months ended June 30, 2024, ZoomInfo reported revenue of $601.6 million, reflecting a strategic push to penetrate new geographical areas .

Financial Performance Goals

Financial sustainability is a key component of ZoomInfo's vision. The company aims to achieve significant profitability while investing in growth. For the three months ended June 30, 2024, ZoomInfo reported a net loss of $24.4 million, compared to a net income of $38.1 million in the same period in 2023 . This shift highlights the challenges faced while navigating growth and operational costs.

Table: Financial Overview of ZoomInfo (2024)

Long-Term Vision for Sustainability

ZoomInfo's long-term vision includes a focus on sustainability and ethical business practices. The company aims to leverage its data solutions not only for profit but also to contribute positively to the business ecosystem and society at large. This includes exploring environmentally friendly practices and supporting diverse business initiatives.

Core Values of ZoomInfo Technologies Inc. (ZI)

Customer Centricity

Customer Centricity is a core value at ZoomInfo Technologies Inc. (ZI), emphasizing the importance of understanding and fulfilling customer needs. This value drives the company to develop solutions that enhance customer experiences and outcomes.

In 2024, ZoomInfo launched several initiatives aimed at improving customer engagement. For instance, the company reported a net revenue retention rate of 85% as of June 30, 2024. This figure indicates a strong commitment to maintaining and expanding relationships with existing customers.

Additionally, ZoomInfo has focused on expanding its product offerings, which include ZoomInfo Sales, Marketing, Operations, and Talent platforms. Over 45% of customer contracts are multi-year agreements, showcasing the trust customers place in ZoomInfo.

Data Integrity

Data Integrity is vital for ZoomInfo, ensuring that customers receive accurate and reliable information. The company invests significantly in maintaining high-quality data standards.

As of June 30, 2024, ZoomInfo reported that their data platform contains billions of data points, including intent, hierarchy, location, and financial information, which are curated through first- and third-party sources. This extensive database allows customers to make informed decisions based on trustworthy insights.

Innovation

Innovation is a cornerstone of ZoomInfo's operational strategy, driving the company to continuously enhance its technology and services. The company dedicates resources towards research and development to foster creativity and adaptability in its offerings.

For the six months ended June 30, 2024, ZoomInfo's research and development expenses amounted to $92.0 million. This investment reflects the company's commitment to developing new products and integrating acquired technologies to improve functionality and customer value.

Collaboration

Collaboration is essential within ZoomInfo, fostering an environment where team members work together to achieve common goals. This value is reflected in the company's organizational structure and operational practices.

In the first half of 2024, ZoomInfo emphasized cross-departmental projects aimed at enhancing customer solutions and service delivery. The company’s approach to teamwork has contributed to a more agile response to market changes and customer demands.

Integrity

Integrity is a fundamental value at ZoomInfo, guiding ethical behavior and decision-making across the organization. The company is committed to transparency and accountability in all its operations.

As part of its integrity commitment, ZoomInfo has implemented robust compliance measures, ensuring adherence to data privacy regulations. The gross liabilities for unrecognized tax benefits were $12.8 million as of June 30, 2024, reflecting the company's diligence in managing tax-related obligations.