ZoomInfo (NASDAQ: ZI) (The “Company”), the go-to-market platform
to find, acquire, and grow customers, today announced that its
Board of Directors approved a share repurchase program authorizing
the Company to repurchase, from time to time, up to $100 million of
the Company’s Common Stock.
“Based on our continued success generating a strong combination
of growth, profitability, and free cash flow at scale, we have the
opportunity to invest in the business and enhance shareholder value
through a share repurchase program,” ZoomInfo Founder and CEO Henry
Schuck said. “We expect to be opportunistic with this initial share
repurchase program, and while the current economic environment
remains uncertain, we are confident in our ability to drive
sustainable growth while compounding free cash flow over the
long-term.”
The shares of Common Stock proposed to be acquired in the share
repurchase program may be repurchased from time to time in open
market transactions or by other means in accordance with federal
securities laws. The Company intends to fund repurchases from
available working capital and cash provided by operating
activities. The timing, as well as the number and value of shares
of Common Stock repurchased under the program, will be determined
by the Company at its discretion and will depend on a variety of
factors, including management’s assessment of the intrinsic value
of the Company’s shares of Common Stock, the market price of the
Company’s Common Stock, general market and economic conditions,
available liquidity, alternative investment opportunities,
compliance with the Company’s debt and other agreements, and
applicable legal requirements. The exact number of shares of Common
Stock to be repurchased by the Company is not guaranteed, and the
program may be suspended, modified, or discontinued at any time
without prior notice.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall it
constitute an offer, solicitation, or sale in any jurisdiction in
which such offer, solicitation, or sale is unlawful.
Cautionary Statement Regarding Forward-Looking
Information
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. Actual results may differ materially from those expressed or
implied by these statements. You can generally identify our
forward-looking statements by the words “anticipate,” “believe,”
“can,” “continue,” “could,” “estimate,” “expect,” “forecast,”
“goal,” “intend,” “may,” “might,” “objective,” “outlook,” “plan,”
“potential,” “predict,” “projection,” “seek,” “should,” “target,”
“trend,” “will,” “would” or the negative version of these words or
other comparable words. Any statements in this press release
regarding future revenue, earnings, margins, financial performance,
cash flow, liquidity, or results of operations (including, but not
limited to, the guidance provided under “Business Outlook”), and
any other statements that are not historical facts are
forward-looking statements. We have based our forward-looking
statements on our management’s beliefs and assumptions based on
information available to our management at the time the statements
are made. We caution you that assumptions, beliefs, expectations,
intentions and projections about future events may and often do
vary materially from actual results. Therefore, actual results
could differ materially from those expressed or implied by our
forward-looking statements.
Factors that could cause actual results to differ from those
expressed or implied by our forward-looking statements include,
among other things: future economic, competitive, and regulatory
conditions, potential future uses of cash, the successful
integration of acquired businesses, and future decisions made by us
and our competitors. All of these factors are difficult or
impossible to predict accurately and many of them are beyond our
control. For a further list and description of these and other
important risks and uncertainties that may affect our future
operations, see Part I, Item 1A - Risk Factors in our most recent
Annual Report on Form 10-K filed with the Securities and Exchange
Commission, which we may update in Part II, Item 1A - Risk Factors
in Quarterly Reports on Form 10-Q we have filed or will file
hereafter. Our forward-looking statements do not reflect the
potential impact of any future acquisitions, mergers, dispositions,
joint ventures, investments, or other strategic transactions we may
make. Each forward-looking statement contained in this presentation
speaks only as of the date of this presentation, and we undertake
no obligation to update or revise any forward-looking statements
whether as a result of new information, future developments or
otherwise, except as required by law.
About ZoomInfo
ZoomInfo (NASDAQ: ZI) is a leader in modern go-to-market
software, data, and intelligence for more than 30,000 companies
worldwide. ZoomInfo’s revenue operating system, RevOS, empowers
business-to-business sales, marketing, operations, and recruiting
professionals to hit their number by pairing best-in-class
technology with unrivaled data coverage, accuracy, and depth of
company and contact information. With integrations embedded into
workflows and technology stacks, including the leading CRM, Sales
Engagement, Marketing Automation, and Talent Management
applications, ZoomInfo drives more predictable, accelerated, and
sustainable growth for its customers. ZoomInfo emphasizes GDPR and
CCPA compliance. In addition to creating the industry’s first
proactive notice program, the company is a registered data broker
with the states of California and Vermont. Read about ZoomInfo’s
commitment to compliance, privacy, and security. For more
information about ZoomInfo’s leading go-to-market software, data,
and intelligence, and how they help sales, marketing, operations,
and recruiting professionals, please visit www.zoominfo.com.
Website Disclosure
ZoomInfo intends to use its website as a distribution channel of
material company information. Financial and other important
information regarding the Company is routinely posted on and
accessible through the Company’s website at
https://ir.zoominfo.com/. Accordingly, you should monitor the
investor relations portion of our website at
https://ir.zoominfo.com/ in addition to following our press
releases, SEC filings, and public conference calls and webcasts. In
addition, you may automatically receive email alerts and other
information about ZoomInfo when you enroll your email address by
visiting the “Email Alerts” section of our investor relations page
at https://ir.zoominfo.com/.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230314005565/en/
Investor: Jeremiah Sisitsky VP, Investor Relations
617-826-2068 ir@zoominfo.com
Media: Steve Vittorioso Director, Communications
pr@zoominfo.com
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