Kanzhun 2Q26 earnings call transcript.
Shareholder returns YTD topped $530 mn, already exceeding 100% of last year's adj. net income.
However, Q3 revenue guidance is RMB 24.1–25 bn. That implies +11.4% to +15.6% YoY, with no acceleration.
The company also made clear it will not pursue large AI capex. R&D expense ratio will remain at 20%–25%.
Below is Dolphin Research's Trans of $Kanzhun(BZ.US) 1Q26 earnings call. For the earnings analysis, see 'Kanzhun: The once small-but-refined recruiting platform is now fully mature.' Key takeaways.
1) Q2 outlook: total revenue guided to RMB 2.38-2.42bn (+13.2%-15.1% YoY), well above Q1's 7.6%. Mgmt expects full-year revenue growth to outpace Q1, with cash billings to grow at least double-digit YoY. 2) Capital return: over $200mn of shares repurchased YTD...
$Kanzhun(BZ.US) Q1 results were broadly in line. Profit slightly beat as G&A tightened.
With hyper-growth behind it and a tougher operating environment, revenue is unlikely to regain prior growth rates. Until overseas expansion reaches scale, the main near-term lever is to keep unlocking operating leverage.Specifically: 1) Multiple factors slowed billings. Q1 billings rose 10% YoY, within guidance but slower vs. last quarter. The external environment is one reason...The following are the minutes of the Boss FY25Q3 earnings call organized by Dolphin Research. For an interpretation of the earnings report, please refer to 'BOSS Zhipin: Not Surprising, but Still Strong'.
1. Review of Core Financial Data
Performance Overview:
Revenue: Total revenue for the third quarter was RMB 2.16 billion, an increase of 13.3% year-on-year.
Profit: According to US GAAP, net profit was RMB 780 million, an increase of 67.2% year-on-year, with a net profit margin of 35.8%; adjusted operating profit increased by 49.3% year-on-year...
$BOSS ZHIPIN-W(02076.HK) $Kanzhun(BZ.US) Q3 financial report has been released, and the overall performance basically met expectations. It is still the same BOSS—despite still facing pressure, the company's ability to outperform Beta is still evident. Specifically: 1. Billings showed signs of recovery: Q3 billings increased by 14% year-on-year, showing a significant recovery compared to the previous quarter. Although this was within expectations and last year's base was low, it is commendable to withstand the pressure in a relatively high-pressure environment...
The following are the minutes of the FY25Q2 earnings call for $Kanzhun(BZ.US) organized by Dolphin Research. For earnings interpretation, please refer to "BOSS Zhipin: The environment remains volatile, but the essence of being small and beautiful remains unchanged." 1. Review of Core Financial Information a. Growth Drivers: a. The number of paying corporate clients reached 6.5 million in the 12 months ending June 30, representing a year-on-year growth of 10%. b. Willingness to Pay: The recruitment market is recovering, and corporate willingness to pay is increasing, especially the demand recovery from small and medium-sized enterprises (SMEs) is more pronounced, with their revenue contribution increasing quarter-on-quarter...
$Kanzhun(BZ.US) Q2 report has been released. Although the performance is not perfect, the flaws do not overshadow the merits. It once again proves that in a headwind environment, a reliable and small yet beautiful team will increasingly highlight its competitive advantages. Specifically: 1. User share continues to rise: In the second quarter, platform users increased by 3 million quarter-on-quarter, reaching 60.6 million. At the same time, sales expenses for promotion increased by 10% year-on-year, returning to normal levels. However, due to significant optimization of sales personnel, overall marketing expenses still fell by 23% year-on-year. Compared to absolute values, Dolphin Research pays more attention to market share...
Below is the earnings call $Kanzhun(BZ.US) Minutes for FY25Q1. For the earnings interpretation, please refer to "BOSS Zhipin: The Little Leader Firmly Sits in the 'Boss' Seat, But the Cycle is Too Tough". 1. Review of Key Earnings Information 1. Stock-based compensation (SBC): Decreased by 10% quarter-over-quarter, accounting for nearly 4 percentage points less of revenue year-over-year, and will continue to decline as revenue grows in the long term. 2. Operating cash flow was 1 billion yuan, up 11% year-over-year; cash reserves reached 14.8 billion yuan...
$Kanzhun(BZ.US) The first-quarter report is out, overall showing a business facing headwinds, requiring short-term reliance on its own efforts to maintain its small but beautiful nature. Specifically: 1. To C brand awareness remains solid: Platform users increased by 4.9 million quarter-over-quarter, reaching 57.6 million. However, sales expenses excluding equity incentives fell 18% year-over-year, indicating that natural traffic remains strong under solid brand awareness. 2. To B recruitment environment has not yet bottomed out: But the pressure on the corporate side is a bit heavy. First-quarter revenue grew 13%...
The following is the minutes of the fourth quarter earnings conference call for $Kanzhun(BZ.US) $BOSS ZHIPIN-W(02076.HK). For the financial report interpretation, please refer to "BOSS ZhiPin: Facing Headwinds, Still Maintaining the 'Small but Beautiful' Essence." 1. Review of Core Financial Information 1. Fourth Quarter Financial Performance In the fourth quarter of 2024, the company's GAAP revenue reached RMB 1.82 billion, a year-on-year increase of 15%; adjusted net income (excluding stock-based compensation expenses) reached RMB 720 million, a year-on-year increase of 15%. The number of paying enterprise clients increased to 6.1 million in 2024...
