6/22/2023 0 Comments Vimeo stockAll videos are automatically captioned and transcribed, easily searchable and can be organized into team workspaces with robust permissioning and controls. Launched Video Library, a secure content hub for employees to share and access knowledge across teams.Added and expanded Enterprise customers from the Fortune 500 and across diverse industries, including Ralph Lauren, Expedia, AT&T Wireless, TIAA, Oliver Wyman, eBay and Williams Sonoma.We ended the quarter with $331.0 million in cash and cash equivalents. Free cash flow was $18.1 million, compared to $10.2 million in the second quarter of fiscal 2020. Cash Flow / Liquidity: Cash flow from operating activities was $18.2 million, compared to $10.6 million in the second quarter of fiscal 2020.Adjusted EBITDA: Adjusted EBITDA was $(3.8) million, compared to $(5.3) million in the second quarter of fiscal 2020.Operating Loss: GAAP operating loss was $20.3 million, or 21% of revenues, compared to GAAP operating loss of $12.3 million, or 18% of revenues, in the second quarter of fiscal 2020.Enterprise revenue grew more than 80% in the quarter. Revenue increased 43% year on year driven by a 17% increase in subscribers and 18% growth in ARPU.See reconciliation of GAAP to non-GAAP measures beginning on page 7. Our execution is on track and we are investing strategically to position Vimeo as a long-term winner in this large and early market.” ”In the second quarter we gained momentum in the enterprise with expanded product breadth, as we enhanced our all-in-one software solution to enable every employee to be a content creator and every business to be video-first. “The evolution of video as the new way to work continues," said Anjali Sud, Chief Executive Officer of Vimeo. Monthly metrics for Vimeo through July 2021 are included on page 2 of this release. (NASDAQ: VMEO) (“Vimeo”) released its second quarter results today.
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