Revenue

Q1 2024: -33% " " " ; Q1 2025: -10% " " " "

In Q1 2024, revenue dropped steeply by 33% to $122.2M due to weak hiring demand—with subscription revenue down 33% and performance-based revenue down 37%—driven by adverse macroeconomic factors; by Q1 2025, the decline moderated to 10% as seasonal rebound effects and a slight shift in revenue mix helped partially offset ongoing market softness. " " " " " " "

Quarterly Paid Employers

Q1 2024: -32% " " " " " ; Q1 2025: -11% YoY with a 10% sequential increase " " "

The 32% drop in Q1 2024 reflected reduced employer participation amid a soft labor market, while Q1 2025’s smaller 11% decline—coupled with a 10% sequential increase—indicates a modest seasonal rebound as employers, particularly SMBs, begin to regain confidence despite lingering uncertainties. " " " " " " " "

Revenue per Paid Employer

Q1 2024: -1% " " " " " ; Q1 2025: +2% YoY but -10% sequentially " "

In Q1 2024, revenue per employer of $1,708 declined slightly by 1%, and by Q1 2025 it increased by 2% YoY to $1,734 due to a favorable shift from subscription to performance-based mix; however, a 10% sequential decline remains a reminder of seasonal adjustments impacting the metric amid market contraction. " " " " " " "

Adjusted EBITDA

Q1 2024: Margin declined from 19% to 17% " " " ; Q1 2025: Dropped to $5.9M or 5% margin " " "

Profitability was squeezed in Q1 2024 by lower revenues despite operational efficiencies, and in Q1 2025 the further drop in Adjusted EBITDA—to $5.9M and a 5% margin—was driven by continued revenue weakness combined with increased marketing and personnel expenses. " " " " " "

Net Loss

Q1 2024: Shifted to -$6.5M from a previous net income of $5M " " " ; Q1 2025: -$12.8M " " "

The transition from net income in earlier periods to a $6.5M loss in Q1 2024—and further to a $12.8M loss in Q1 2025—reflects cumulative pressures from declining revenue and rising operating costs, highlighting the challenges of a persistently weak hiring market and increased investments in growth during uncertain economic conditions. " " " " " "

Sales & Marketing Expenses

Q1 2024: Decreased by 38% " ; Q1 2025: Increased by 7% from $54.7M to $58.5M " "

In Q1 2024, a reduction in S&M expenses was achieved through restructuring and a 20% workforce reduction, whereas in Q1 2025 the 7% increase in S&M spending—despite lower revenues—signals renewed investment to capture emerging hiring opportunities as seasonal and market stabilization trends begin to surface. " " "