Kanzhun Clocks 105% Revenue Growth In Q3, Beats Consensus

Chinese online recruitment platform Kanzhun Ltd BZ reported a third-quarter revenue increase of 105.4% year-over-year to $188.1 million, beating the consensus of $185.8 million.

• Revenues from online recruitment services were $185.8 million), up by 104.4% Y/Y.
• Calculated cash billings were $189.5 million, up 61.8% Y/Y. Average monthly active users (MAUs) were 28.8 million, an increase of 28.6% Y/Y.
• In the twelve months ended September 30, 2021, total paid enterprise customers increased by 110.5% Y/Y to 4 million.
• Income from operations improved to RMB311.1 million ($48.3 million) versus RMB34.4 million in Q3 2020.
• Adjusted EPADS of $0.13 beat the consensus of $0.11.
• Kanzhun generated cash from operating activities of $41.9 million and held cash and cash equivalents of $1.85 billion.
• In the third quarter, we focused on improving our service for existing users and enhancing our core competencies, continually investing in both platform and data security enhancements, Chair and CEO Jonathan Peng Zhao said. We believe this is a key factor in driving the sustainable growth of our business and creating long-term value.
• Q4 Outlook: Kanzhun expects total revenues of RMB1.02 billion - RMB1.05 billion, representing $158.3 million - $162.96 million, below the consensus of $170.2 million.
• Price Action: BZ shares traded higher by 5.41% at $36.44 in the premarket session on the last check Tuesday.