ZoomInfo Technologies Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>ZoomInfo Technologies Inc. has submitted its 2023 annual report (10-K) detailing its financial performance and operations for the fiscal year ending December 31, 2023.</b>

AI Summary

ZoomInfo Technologies Inc. (GTM) filed a Annual Report (10-K) with the SEC on February 15, 2024. ZoomInfo Technologies Inc. filed its 2023 Form 10-K on February 15, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal executive offices are located in Vancouver, WA. ZoomInfo Technologies Inc. is classified under SIC code 7372 (Services-Prepackaged Software). The filing includes financial data for the fiscal years 2021, 2022, and 2023.

Why It Matters

For investors and stakeholders tracking ZoomInfo Technologies Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of ZoomInfo's financial health, operational performance, and strategic direction for the past fiscal year, which is crucial for investors and stakeholders to assess the company's current standing and future prospects. As a public company, ZoomInfo is required to disclose detailed financial information, risk factors, and management discussions, offering transparency into its business operations and market position within the software industry.

Risk Assessment

Risk Level: medium — ZoomInfo Technologies Inc. shows moderate risk based on this filing. The company operates in the competitive software industry, facing risks related to market saturation, technological advancements, and customer acquisition costs, as indicated by the need for ongoing investment in selling, marketing, and R&D expenses.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand ZoomInfo's performance drivers and potential challenges in the evolving software market.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period of report)
• 2024-02-15 — Filing Date (Date filed)
• 0001794515 — Central Index Key (Filer's identifier)
• 001-39310 — SEC File Number (Company's SEC file number)

Key Players & Entities

• ZoomInfo Technologies Inc. (company) — Filer name
• 2023 (date) — Fiscal year end
• February 15, 2024 (date) — Filing date
• Vancouver, WA (location) — Business address
• 7372 (other) — Standard Industrial Classification

FAQ

Industry Context

ZoomInfo operates in the Software industry, specifically focusing on prepackaged software solutions.

Regulatory Implications

As a publicly traded company, ZoomInfo Technologies Inc. is subject to the reporting requirements of the Securities Exchange Act of 1934, including the annual filing of a Form 10-K.

What Investors Should Do

1. Review ZoomInfo's revenue and expense trends for FY 2023.
2. Analyze the risk factors disclosed in the 10-K for potential business impacts.
3. Compare key financial metrics from the 2023 10-K with previous years.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-02-15: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year ending December 31, 2023, providing updated financial and operational data compared to previous filings.

Key Financial Figures

• $0.01 — ich Registered Common Stock, par value $0.01 per share ZI The Nasdaq Stock Market LL

Filing Documents

• zi-20231231.htm (10-K) — 2747KB
• zi-ex211x20240215.htm (EX-21.1) — 13KB
• zi-ex231x20240215.htm (EX-23.1) — 2KB
• zi-ex311x20240215.htm (EX-31.1) — 12KB
• zi-ex312x20240215.htm (EX-31.2) — 11KB
• zi-ex321x20240215.htm (EX-32.1) — 13KB
• zi-ex971x20240215.htm (EX-97.1) — 16KB
• zi-20231231_g1.jpg (GRAPHIC) — 213KB
• 0001794515-24-000016.txt (&nbsp;) — 15238KB
• zi-20231231.xsd (EX-101.SCH) — 88KB
• zi-20231231_cal.xml (EX-101.CAL) — 153KB
• zi-20231231_def.xml (EX-101.DEF) — 540KB
• zi-20231231_lab.xml (EX-101.LAB) — 1201KB
• zi-20231231_pre.xml (EX-101.PRE) — 861KB
• zi-20231231_htm.xml (XML) — 2420KB

Risk Factors

Item 1A. Risk Factors 7

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 31 Item 1C. C ybersecurity 32

Properties

Item 2. Properties 35

Legal Proceedings

Item 3. Legal Proceedings 35

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 35 Part II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 36

[Reserved]

Item 6. [Reserved] 37

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 38

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 62

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 64

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 125

Controls and Procedures

Item 9A. Controls and Procedures 125

Other Information

Item 9B. Other Information 126

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 126 Part III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 127

Executive Compensation

Item 11. Executive Compensation 127

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 127

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 127

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 127 Part IV

Exhibit and Financial Statement Schedules

Item 15. Exhibit and Financial Statement Schedules 128

Form 10-K Summary

Item 16. Form 10-K Summary 132

Signatures

Signatures 133 i Table of Contents GLOSSARY As used in this Annual Report on Form 10-K (this " Form 10-K "), the terms identified below have the meanings specified unless otherwise noted or the context indicates otherwise. References in this Form 10-K to "ZoomInfo Technologies Inc." refer to ZoomInfo Technologies Inc. and not to any of its subsidiaries unless the context indicates otherwise. References in this Form 10-K to "ZoomInfo", the "Company", "we", "us", and "our" refer (1) prior to the consummation of the Reorganization Transactions, to ZoomInfo OpCo and its consolidated subsidiaries, (2) after the consummation of the Reorganization Transactions, to ZoomInfo Technologies Inc., and (3) after the consummation of the Holding Company Reorganization, to ZoomInfo Technologies Inc. (formerly known as ZoomInfo NewCo Inc.) and its consolidated subsidiaries unless the context indicates otherwise. " ACV " refers to annual contract value, or the total annualized value that a customer has agreed to pay for subscription services at any particular point in time under contract(s) that are or were enforceable at that point in time. " Blocker Companies " refers to certain of our Pre-IPO OpCo Unitholders that are taxable as corporations for U.S. federal income tax purposes. " Blocker Mergers " refers to the mergers described under "Reorganization Transactions" in Note 1 to our audited consolidated financial statements included in Part II, Item 8 of this Form 10-K. " Carlyle " refers to investment funds associated with The Carlyle Group. " Class P Units " refers to Class P Units (including, without limitation, any indirectly held Class P Units) of ZoomInfo OpCo. " Common Stock Option " refers to an award granted under Section 7 of the 2020 Omnibus Incentive Plan. " Continuing Class P Unitholders " refers to certain Pre-IPO Owners who continued to hold Class P Units following the consummation of the Reorganization Transactions and the IPO. " Continuing Members "

BUSINESS

ITEM 1. BUSINESS ZoomInfo, formerly known as DiscoverOrg, was co-founded in 2007 by our chief executive officer ("CEO"), Henry Schuck. DiscoverOrg achieved significant organic growth since its founding and acquired Zoom Information, Inc. ("Pre-Acquisition ZI") in February 2019 to further expand the breadth of our go-to-market intelligence, industry coverage, and addressable market opportunity. The combined business was incorporated as the former ZoomInfo Technologies Inc. (now ZoomInfo Intermediate Inc.) on November 14, 2019 for the purposes of facilitating an IPO. On June 8, 2020, ZoomInfo completed the IPO. On October 29, 2021, ZoomInfo implemented a holding company reorganization in which ZoomInfo NewCo Inc., which subsequently was renamed "ZoomInfo Technologies Inc.," became the successor registrant to its subsidiary, ZoomInfo Technologies Inc., which subsequently changed its name to "ZoomInfo Intermediate Inc.". Our corporate headquarters are located in Vancouver, Washington. The Company has additional offices in Waltham, Massachusetts; Bethesda, Maryland; Conshohocken, Pennsylvania; Grand Rapids, Michigan; San Francisco, California; Ra'anana, Israel; Toronto, Canada; Chennai, India; and London, England. Our primary website address is https://www.zoominfo.com. The information on our website is not incorporated herein or otherwise a part of this Annual Report on Form 10-K. Overview ZoomInfo is a global leader in modern go-to-market software, data, and intelligence for sales, marketing, operations, and recruiting teams. RevOS – our modern, cloud-based operating system for revenue professionals – delivers comprehensive and high-quality intelligence and analytics to provide sales, marketing, operations, and recruiting professionals accurate information and insights on the organizations and professionals they target. This enables our customers to shorten sales cycles and increase win rates by empowering sellers, marketers, and recruiters to deliver the right m

View Full Filing

View this 10-K filing on SEC EDGAR