Kanzhun (BZ) Q4 2024 Earnings Call Transcript

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Wed, April 1, 2026 astatine 8:43 AM CDT 24 min read

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Tuesday, March 11, 2025 astatine 8 a.m. ET

• Chairman and Chief Executive Officer — Jonathan Peng Zhao

• Chief Financial Officer — Phil Yu Zhang

• Senior Vice President — Wenbei Wang

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Jonathan Peng Zhao: Hello, everyone. Thank you for joining our company's 4th fourth and afloat twelvemonth 2024 net league call. On behalf of the company's employees, absorption squad and the Board of Directors, I would similar to widen our sincere gratitude to our users and investors and friends, who person continuously believed successful america and supported us. Let maine archetypal supply an overview of our fiscal performance. In the 4th quarter, the institution achieved a GAAP gross of RMB 1.82 billion, up 15% year-on-year. Our adjusted nett income, which excludes share-based compensation expenses, reached RMB 720 million, reflecting a 15% year-on-year growth.

In the 4th quarter, mean verified monthly progressive users oregon MAU connected the BOSS Zhipin app accrued by 28% year-on-year to 52.7 million. For the afloat twelvemonth of 2024, the institution achieved a GAAP gross of RMB 7.36 billion, up 24% year-on-year. Adjusted nett income, which excludes share-based compensation expenses, reached RMB 2.71 billion, up 26% year-on-year. Furthermore, our adjusted operating income, excluding different income specified arsenic wealthiness absorption income was RMB 2.32 cardinal for afloat twelvemonth 2024, rising by 41% year-on-year. And successful 2024, we successfully delivered connected our nett commitments.

Share-based compensation expenses arsenic a percent of gross successful 2024 decreased by 2.3 percent points compared to 2023 and are expected to further diminution successful some implicit worth and the proportionality of gross successful 2025. In 2024, we attracted astir 49.5 cardinal recently added verified users, mounting a caller grounds for extremity idiosyncratic growth. At the aforesaid time, we reduced selling expenses compared to 2023, acknowledgment to our increasing marque designation and enhanced bilateral web effects, which person importantly improved lawsuit acquisition efficiency. As of December 31, 2024, the institution has provided work to implicit 225 cardinal users and 16.6 cardinal enterprises.

MAU connected the BOSS Zhipin app for the afloat twelvemonth reached 53 million, representing a year-on-year summation of 25.3%. In the year, we facilitated implicit 1.85 cardinal palmy resume exchanges based connected communal consent betwixt occupation seekers and employers, which is what we notation to arsenic accomplishment successful regular operation. Despite macroeconomic challenges successful 2024, the company's idiosyncratic growth-driven gross maturation exemplary remains effective, driving notable betterment successful some gross standard and profitability. Some whitethorn reason that we are much data-driven business. However, I would similar to stress that our concern exemplary is truthful overmuch much than that. To date, idiosyncratic enlargement has remained our halfway maturation driver.