Wednesday, January 19, 2022
Jan. 19, 2022

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ZoomInfo, Barrett Business Services see strong Q3 growth

By , Columbian Innovation Editor

Clark County-based publicly traded companies ZoomInfo and Barrett Business Services Inc. showed strong revenue growth during their third-quarter financial earnings reports.

ZoomInfo’s revenue of $197.6 million grew 60 percent year-over-year. Its operating income was $20.2 million and adjusted operating income was $78.4 million. Its cash flow from operations came in at $46.5 million.

Part of the success comes from the acquisition of RingLead, a data orchestration and revenue operations automation company.

The business-to-business marketing company also hit a 25,000 customer benchmark for the first time and grew its customer base of spenders of at least $100,000 per year to more than 1,250.

“ZoomInfo delivered exceptional results, with another quarter of accelerating revenue growth, and strong free cash flow generation,” said Henry Schuck, ZoomInfo Founder and CEO.

ZoomInfo’s shares prices ended Friday at $73.65, up 61.58 percent year-over-year.

Barrett Business Services Inc.’s reported revenue rose 9 percent year-over-year in the third quarter to $247 million. Its quarterly earnings amounted to $14.9 million with a net income of $1.96 per share.

“Our third-quarter results exceeded our expectations and are reflective of the strength of our client base,” Barrett Business Services Inc. President and CEO Gary Kramer said.

Barrett’s stock price ended Friday at $82.32, up 25.18 percent year-over-year.

nLIGHT, a high-power semiconductor and fiber lasers company, recorded a $6.9 million loss in the third quarter, matching Wall Street predictions. Its revenue was $72.2 million, which was up 17 percent compared with $61.7 million for the third quarter of 2020.

“As a result of a 17 percent year-over-year increase in revenue combined with a higher mix of business coming from outside of China, we increased our products gross margins by 490 basis year-over-year to a record 37.1 percent. Assuming the midpoint of our Q4 revenue guidance, we are again on track to deliver more than 20 percent year-over-year growth.”

nLIGHT’s stock price ended Friday at $29.68, down 7.6 percent year-over-year.

Other local publicly owned companies Northwest Pipe Co., Absci and Nautilus announce their quarterly earning statements next week.

Nautilus Inc.’s stock price ended on Friday at $10.35, down 44.38 percent year-over-year. Northwest Pipe Co.’s stock ended on Friday at $25.39, down 7.71 percent year-over-year.