Vimeo Reports Q2 2022 Financial Results

NEW YORK, Aug. 03, 2022 (GLOBE NEWSWIRE) -- Vimeo, Inc. (NASDAQ: VMEO) (“Vimeo”) released its results for the second quarter ended June 30, 2022 today. 

“We continue to see the largest companies in the world embracing video,” said Anjali Sud, Chief Executive Officer of Vimeo. “We now have over 9,000 customers sold via our salesforce, representing 35% of our Q2 revenue, and are seeing new products like our recently launched interactive video capabilities gain adoption with companies from Estee Lauder to Splunk. We are executing several important strategic changes to the business as we look to respond with speed and agility to a challenging environment. We have plenty to do and prove, but believe we have all the ingredients to come out of this period with the best product and team in the market, and a clear path to becoming a fast growing and profitable business."

VIMEO, INC. SUMMARY RESULTS

($ in millions except per share amounts)

	Q2 2022				Q2 2021
Revenue	$	111.0			$	96.0
Gross profit		84.1				70.3
Gross profit margin		76	%			73	%
Operating income (loss)		(27.3	)			(20.3	)
Net income (loss)		(26.5	)			(20.4	)
Diluted EPS		(0.16	)			(0.13	)
Adjusted EBITDA		(6.4	)			(3.8	)

See reconciliations of GAAP to non-GAAP measures beginning on page 7.

Q2 2022 FINANCIAL HIGHLIGHTS

• Revenue increased 16% year-over-year driven by a 3% increase in Subscribers and 10% growth in ARPU. Sales-Assisted Revenue grew 45% year-over-year.

• Gross Profit: GAAP gross profit was $84.1 million, compared to GAAP gross profit of $70.3 million in the second quarter of 2021. Gross profit grew 20% year-over-year.

• Operating Loss: GAAP operating loss was $27.3 million, compared to GAAP operating loss of $20.3 million in the second quarter of 2021.

• Adjusted EBITDA: Adjusted EBITDA loss was $6.4 million, compared to Adjusted EBITDA loss of $3.8 million in the second quarter of 2021.

• Cash: Vimeo ended the quarter with $268.1 million in cash and cash equivalents.

RECENT BUSINESS HIGHLIGHTS

• Vimeo now has approximately 1.7 million Subscribers, with more than 9,000 paying Sales-Assisted Customers.

• Launched new interactive video capabilities to enable anyone to easily create highly engaging, dynamic and shoppable content in a few clicks. These capabilities are fully integrated within the Vimeo platform’s suite of workplace tools and have been adopted across use-cases ranging from eCommerce to training to learning & development.

• Expanded Sales-Assisted Customer base with customer wins including Estee Lauder, the City of Los Angeles, Splunk, Canva, ServiceNow, Fujifilm and the University of Pennsylvania.

• Appointed Lynn Girotto as Chief Marketing Officer and Ashraf Alkarmi as Chief Product Officer.

FINANCIAL OUTLOOK

For the third quarter of 2022, Vimeo expects:

• Revenue growth to exceed 5% year-over-year, GAAP operating loss between $29 million and $31 million, and Adjusted EBITDA loss between $3 million and $5 million.

For full-year 2022, Vimeo expects:

• Revenue growth near 10% year-over-year, GAAP operating loss between $107 million and $112 million, and Adjusted EBITDA loss between $20 million and $25 million.

The guidance provided above constitutes forward-looking statements and actual results may differ materially. Refer to “Forward-Looking Statements” below for information on the factors that could cause our actual results to differ materially from these forward-looking statements. 

VIDEO CONFERENCE CALL

Vimeo will live stream a video conference to answer questions regarding its second quarter results on Thursday, August 4, 2022, at 8:30 a.m. Eastern Time. This live stream will include the disclosure of certain information, including forward-looking information, which may be material to an investor’s understanding of Vimeo’s business. The live stream will be open to the public at https://www.vimeo.com/investors.

DILUTIVE SECURITIES

Vimeo has various dilutive securities. The table below details these securities as well as estimated dilution at various stock prices (shares in millions; rounding differences may occur).

		Shares			Avg. Exercise Price				As of 7/29/2022			Dilution at:
Share Price									$	5.56		$	6.00		$	8.00		$	10.00		$	12.00
Common Stock Outstanding as of 7/29/2022		166.4								166.4			166.4			166.4			166.4			166.4
SARs and Stock Options		16.4			$	5.83				0.7			1.0			3.6			5.4			6.6
RSUs		11.5								9.8			9.8			9.8			9.8			9.8
Total Estimated Dilution										10.5			10.8			13.4			15.2			16.4
% Dilution										6.3	%		6.5	%		8.0	%		9.1	%		9.8	%
Total Estimated Diluted Shares Outstanding										176.9			177.2			179.8			181.6			182.8

The dilutive securities presentation is calculated using the methods and assumptions described below, which are different than those prescribed by GAAP.

The Company currently settles all equity awards on a gross basis; therefore, the estimated dilutive effect is calculated as the number of shares expected to be issued upon vesting or exercise, adjusted for (i) the estimated income tax benefit from the tax deduction received upon the vesting or exercise of awards held in the U.S., as such tax benefit is assumed to be used to repurchase shares of Vimeo common stock and (ii) in the case of stock options, the strike price proceeds that are received by the Company and assumed to be used to repurchase shares of Vimeo common stock. The number of shares required to settle stock appreciation rights will be impacted by movement in the stock price of Vimeo.

GAAP FINANCIAL STATEMENTS
VIMEO, INC. CONSOLIDATED STATEMENT OF OPERATIONS
($ in thousands except per share data)
	Three Months Ended June 30,								Six Months Ended June 30,
		2022				2021				2022				2021
Revenue	$	110,977			$	96,046			$	219,331			$	185,468
Cost of revenue (exclusive of depreciation shown separately below)		26,878				25,771				53,634				50,727
Gross profit		84,099				70,275				165,697				134,741
Operating expenses:
Research and development expense		35,728				27,062				70,146				48,538
Sales and marketing expense		43,080				40,248				86,236				72,317
General and administrative expense		29,710				21,508				58,322				36,026
Depreciation		1,537				186				1,913				300
Amortization of intangibles		1,341				1,583				2,632				3,471
Total operating expenses		111,396				90,587				219,249				160,652
Operating loss		(27,297	)			(20,312	)			(53,552	)			(25,911	)
Interest expense		(122	)			(122	)			(243	)			(186	)
Interest expense–related party		—				—				—				(726	)
Other income, net		1,172				142				1,513				10,229
Loss before income taxes		(26,247	)			(20,292	)			(52,282	)			(16,594	)
Income tax provision		(255	)			(100	)			(778	)			(485	)
Net loss	$	(26,502	)		$	(20,392	)		$	(53,060	)		$	(17,079	)
Per share information:
Basic loss per share	$	(0.16	)		$	(0.13	)		$	(0.33	)		$	(0.11	)
Diluted loss per share	$	(0.16	)		$	(0.13	)		$	(0.33	)		$	(0.11	)
Weighted average shares outstanding used in the computation of net loss per share(a):
Basic		161,455				159,418				161,384				159,399
Diluted		161,455				159,418				161,384				159,399
Stock-based compensation expense by function:
Cost of revenue	$	237			$	169			$	401			$	189
Research and development expense		6,722				5,748				11,421				7,468
Sales and marketing expense		2,443				1,498				3,375				1,820
General and administrative expense		9,270				7,280				17,668				10,130
Total stock-based compensation expense	$	18,672			$	14,695			$	32,865			$	19,607

(a) Approximately 4.9 million common shares outstanding have been excluded from the computation of shares outstanding for EPS purposes because they are subject to satisfaction of certain vesting conditions, the details of which can be found in our filings with the SEC. For additional information on the separation, see our Annual Report on Form 10-K filed with the SEC on March 1, 2022.

VIMEO, INC. CONSOLIDATED BALANCE SHEET
($ in thousands)
	June 30, 2022				December 31, 2021
ASSETS
Cash and cash equivalents	$	268,078			$	321,900
Accounts receivable, net		39,986				29,451
Prepaid expenses and other current assets		19,715				18,811
Total current assets		327,779				370,162
Leasehold improvements and equipment, net		1,497				2,868
Goodwill		245,406				242,586
Intangible assets with definite lives, net		7,936				11,008
Other non-current assets		16,428				22,737
TOTAL ASSETS	$	599,046			$	649,361
LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES:
Accounts payable, trade	$	3,364			$	17,501
Deferred revenue		176,918				173,167
Accrued expenses and other current liabilities		62,857				67,385
Total current liabilities		243,139				258,053
Other long-term liabilities		6,478				20,713
Commitments and contingencies
SHAREHOLDERS' EQUITY:
Common stock		1,570				1,567
Class B common stock		94				94
Preferred stock		—				—
Additional paid-in-capital		737,239				704,796
Accumulated deficit		(388,836	)			(335,776	)
Accumulated other comprehensive loss		(638	)			(86	)
Total shareholders' equity		349,429				370,595
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$	599,046			$	649,361

VIMEO, INC. CONSOLIDATED STATEMENT OF CASH FLOWS
($ in thousands)
	Three Months Ended June 30,								Six Months Ended June 30,
		2022				2021				2022				2021
Cash flows from operating activities:
Net loss	$	(26,502	)		$	(20,392	)		$	(53,060	)		$	(17,079	)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Stock-based compensation expense		18,672				14,695				32,865				19,607
Amortization of intangibles		1,341				1,583				2,632				3,471
Depreciation		1,537				186				1,913				300
Provision for credit losses		3,892				198				7,015				280
Gain on the sale of an asset		—				—				—				(10,217	)
Non-cash lease expense		1,650				655				3,421				825
Other adjustments, net		(735	)			309				(719	)			540
Changes in assets and liabilities:
Accounts receivable		(9,539	)			(2,970	)			(18,225	)			(5,248	)
Prepaid expenses and other assets		(3,208	)			(4,926	)			(2,870	)			(6,925	)
Accounts payable and other liabilities		(14,620	)			10,545				(26,127	)			3,026
Deferred revenue		5,555				18,290				4,445				29,571
Net cash (used in) provided by operating activities		(21,957	)			18,173				(48,710	)			18,151
Cash flows from investing activities:
Acquisitions, net of cash acquired		—				—				21				—
Capital expenditures		(115	)			(80	)			(630	)			(215	)
Proceeds from the sale of an asset		—				—				1,611				7,768
Net cash (used in) provided by investing activities		(115	)			(80	)			1,002				7,553
Cash flows from financing activities:
Proceeds from sale of common stock, net of fees		—				—				—				299,750
Principal payments on related-party debt		—				—				—				(94,565	)
Deferred financing costs		—				—				—				(1,440	)
Withholding taxes paid related to equity awards		11				(3,448	)			(5,126	)			(8,181	)
Proceeds from exercise of stock options		—				4				18				4
Other		(621	)			—				(621	)			—
Net cash (used in) provided by financing activities		(610	)			(3,444	)			(5,729	)			195,568
Total cash (used) provided		(22,682	)			14,649				(53,437	)			221,272
Effect of exchange rate changes on cash and cash equivalents and restricted cash		(363	)			75				(488	)			(57	)
Net (decrease) increase in cash and cash equivalents and restricted cash		(23,045	)			14,724				(53,925	)			221,215
Cash and cash equivalents and restricted cash at beginning of period		291,465				316,528				322,345				110,037
Cash and cash equivalents and restricted cash at end of period	$	268,420			$	331,252			$	268,420			$	331,252

RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES

($ in millions; rounding differences may occur)

	Three Months Ended June 30,								Six Months Ended June 30,
		2022				2021				2022				2021
Reconciliation of non-GAAP gross profit:
GAAP Gross profit	$	84.1			$	70.3			$	165.7			$	134.7
% of Revenue		76	%			73	%			76	%			73	%
Add back: Stock-based compensation expense		0.2				0.2				0.4				0.2
Non-GAAP Gross Profit	$	84.3			$	70.4			$	166.1			$	134.9
% of Revenue		76	%			73	%			76	%			73	%
Reconciliation of non-GAAP operating expenses:
GAAP Research and development expense	$	35.7			$	27.1			$	70.1			$	48.5
% of Revenue		32	%			28	%			32	%			26	%
Less: Stock-based compensation expense		6.7				5.7				11.4				7.5
Non-GAAP Research and development expense	$	29.0			$	21.3			$	58.7			$	41.1
% of Revenue		26	%			22	%			27	%			22	%
GAAP Sales and marketing expense	$	43.1			$	40.2			$	86.2			$	72.3
% of Revenue		39	%			42	%			39	%			39	%
Less: Stock-based compensation expense		2.4				1.5				3.4				1.8
Non-GAAP Sales and marketing expense	$	40.6			$	38.7			$	82.9			$	70.5
% of Revenue		37	%			40	%			38	%			38	%
GAAP General and administrative expense	$	29.7			$	21.5			$	58.3			$	36.0
% of Revenue		27	%			22	%			27	%			19	%
Less: Stock-based compensation expense		9.3				7.3				17.7				10.1
Non-GAAP General and administrative expense	$	20.4			$	14.2			$	40.7			$	25.9
% of Revenue		18	%			15	%			19	%			14	%
Reconciliation of net loss to Adjusted EBITDA:
Net loss	$	(26.5	)		$	(20.4	)		$	(53.1	)		$	(17.1	)
Add back:
Income tax provision		0.3				0.1				0.8				0.5
Other income, net		(1.2	)			(0.1	)			(1.5	)			(10.2	)
Interest expense–related party		—				—				—				0.7
Interest expense		0.1				0.1				0.2				0.2
Operating loss		(27.3	)			(20.3	)			(53.6	)			(25.9	)
% of Revenue		(25	)%			(21	)%			(24	)%			(14	)%
Add back:
Stock-based compensation expense		18.7				14.7				32.9				19.6
Depreciation		1.5				0.2				1.9				0.3
Amortization of intangibles		1.3				1.6				2.6				3.5
Contingent consideration		(0.7	)			—				(0.7	)			—
Adjusted EBITDA	$	(6.4	)		$	(3.8	)		$	(16.8	)		$	(2.5	)
% of Revenue		(6	)%			(4	)%			(8	)%			(1	)%

RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES

($ in millions except per share data; shares in thousands; rounding differences may occur)

	Three Months Ended June 30,								Six Months Ended June 30,
		2022				2021				2022				2021
Reconciliation of Net loss to Adjusted Net (Loss) Income:
Net loss	$	(26.5	)		$	(20.4	)		$	(53.1	)		$	(17.1	)
% of Revenue		(24	)%			(21	)%			(24	)%			(9	)%
Add back:
Stock-based compensation expense		18.7				14.7				32.9				19.6
Depreciation		1.5				0.2				1.9				0.3
Amortization of intangibles		1.3				1.6				2.6				3.5
Contingent consideration		(0.7	)			—				(0.7	)			—
Income tax effects related to non-GAAP adjustments		—				—				—				—
Adjusted Net (Loss) Income	$	(5.6	)		$	(3.9	)		$	(16.3	)		$	6.3
% of Revenue		(5	)%			(4	)%			(7	)%			3	%
Reconciliation of diluted loss per share to Adjusted EPS:
Diluted loss per share	$	(0.16	)		$	(0.13	)		$	(0.33	)		$	(0.11	)
Add back:
Stock-based compensation expense		0.12				0.09				0.20				0.12
Depreciation		0.01				—				0.01				—
Amortization of intangibles		0.01				0.01				0.02				0.02
Contingent consideration		—				—				—				—
Income tax effects related to non-GAAP adjustments		—				—				—				—
Adjusted EPS	$	(0.03	)		$	(0.02	)		$	(0.10	)		$	0.04
Weighted average diluted shares		161,455				159,418				161,384				159,399
Computation of Free Cash Flow:
Net cash (used in) provided by operating activities	$	(22.0	)		$	18.2			$	(48.7	)		$	18.2
Less: Capital expenditures		(0.1	)			(0.1	)			(0.6	)			(0.2	)
Free Cash Flow	$	(22.1	)		$	18.1			$	(49.3	)		$	17.9

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL OUTLOOK

($ in millions; rounding differences may occur)

	Three Months Ended September 30, 2022								Twelve Months Ended December 31, 2022
Operating loss to Adjusted EBITDA range:
Operating loss	$	(28.8	)	—	$	(30.8	)		$	(106.7	)	—	$	(111.7	)
Add back:
Stock-based compensation expense		20.5				20.5				75.4				75.4
Depreciation		0.1				0.1				2.2				2.2
Amortization of intangibles		1.2				1.2				5.1				5.1
Restructuring costs		4.0				4.0				4.0				4.0
Adjusted EBITDA	$	(3.0	)	—	$	(5.0	)		$	(20.0	)	—	$	(25.0	)

PRINCIPLES OF FINANCIAL REPORTING

We have provided in this press release certain non-GAAP financial measures, including Adjusted EBITDA, non-GAAP gross profit, non-GAAP operating expenses, Adjusted net income (loss), Adjusted EPS and free cash flow, to supplement our financial information presented in accordance with GAAP. We use these non-GAAP financial measures internally in analyzing our financial results and believe that use of these non-GAAP financial measures is useful to investors as an additional tool to evaluate ongoing operating results and trends and in comparing our financial results with other companies in our industry, many of which present similar non-GAAP financial measures. However, our presentation of these non-GAAP financial measures may differ from the presentation of similarly titled measures by other companies. Adjusted EBITDA is the metric on which our internal budgets are based and also the metric by which management is compensated. We believe that investors should have access to, and we are obligated to provide, the same set of tools that we use in analyzing our results. These non-GAAP measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to GAAP results. We endeavor to compensate for the limitations of the non-GAAP measures presented by providing the comparable GAAP measure with equal or greater prominence and descriptions of the reconciling items, including quantifying such items, to derive the non-GAAP measure. We encourage investors to examine the reconciling adjustments between the GAAP and corresponding non-GAAP measure.

From time to time, we provide forward-looking outlook information, including for Adjusted EBITDA and free cash flow. Adjusted EBITDA and free cash flow used in our outlook will differ from net earnings (loss) and operating income (loss), and net cash provided by operating activities, respectively, in ways similar to the reconciliations provided above and the definitions of Adjusted EBITDA and free cash flow provided below.

Definitions of Non-GAAP Measures

Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("Adjusted EBITDA") is defined as operating loss excluding: (1) stock-based compensation expense; (2) depreciation; (3) acquisition-related items consisting of (i) amortization of intangible assets, (ii) impairments of goodwill and intangible assets, if applicable, and (iii) gains and losses recognized on changes in the fair value of contingent consideration arrangements; and (4) restructuring costs associated with exit or disposal activities such as a reduction in force. We believe this measure is useful for analysts and investors as this measure allows a more meaningful comparison between our performance and that of our competitors. Stock-based compensation, depreciation, and acquisition-related items are excluded from our Adjusted EBITDA measure because these items are non-cash in nature, and in the case of restructuring costs, are non-recurring. The above items are collectively referred to as "Adjusted EBITDA Non-GAAP Adjustments." Adjusted EBITDA has certain limitations because it excludes the impact of these expenses.

Non-GAAP gross profit excludes stock-based compensation expense included in Cost of revenue.

Non-GAAP operating expenses include Non-GAAP Research and development expense, Non-GAAP Sales and marketing expense, and Non-GAAP General and administrative expense. These Non-GAAP operating expenses exclude Adjusted EBITDA Non-GAAP Adjustments in their respective expense items.

Adjusted Net Income (Loss) and Adjusted EPS exclude the Adjusted EBITDA Non-GAAP Adjustments, as well as the related income tax effects. Adjusted EPS is calculated by dividing Adjusted Net Income (Loss) by the Diluted weighted average shares outstanding used in the computation of net earnings (loss) per share.

Free Cash Flow is defined as net cash used in, or provided by, operating activities less cash used for capital expenditures, contingent consideration arrangements and restructuring costs. We believe Free Cash Flow is useful to investors as a liquidity measure because it measures our ability to generate or use cash.

Items That Are Excluded From Non-GAAP Measures

Stock-based compensation expense consists of expense associated with the grants of Vimeo stock-based awards. These expenses are not paid in cash and we view the economic costs of stock-based awards to be the dilution to our share base. We also consider the dilutive impact of stock-based awards in GAAP diluted earnings per share, to the extent such impact is dilutive. Stock-based awards are generally settled on a gross basis in shares of Vimeo common stock such that individual award holders will pay their withholding tax obligation, generally by selling shares of Vimeo common stock (including a portion of the shares received in connection with the applicable exercise).

Depreciation is a non-cash expense relating to our leasehold improvements and equipment and is computed using the straight-line method to allocate the cost of depreciable assets to operations over their estimated useful lives, or, in the case of leasehold improvements, the lease term, if shorter.

Amortization of intangible assets and impairments of goodwill and intangible assets are non-cash expenses related to acquisitions. At the time of an acquisition, the identifiable definite-lived intangible assets of the acquired company, such as customer relationships, technology and trade names, are valued and amortized over their estimated lives. An impairment is recorded when the carrying value of an intangible asset or goodwill exceeds its fair value. We believe that intangible assets represent costs incurred by the acquired company to build value prior to acquisition and the related amortization and impairments of intangible assets or goodwill, if applicable, are not ongoing costs of doing business.

Gains and losses recognized on changes in the fair value of contingent consideration arrangements are accounting adjustments to report contingent consideration liabilities at fair value. These adjustments can be highly variable and are excluded from our assessment of performance because they are considered non-operational in nature and, therefore, are not indicative of current or future performance or the ongoing cost of doing business.

Restructuring Costs consist of costs associated with exit or disposal activities such as severance and other post-employment benefits paid in connection with a reduction in force. We consider these costs to be non-recurring in nature and therefore, are not indicative of current or future performance or the ongoing cost of doing business.

Metric Definitions

Gross Margin – Revenue less cost of revenue, divided by revenue.

Subscribers – The number of users who have an active subscription to one of Vimeo’s paid plans measured at the end of the relevant period. Vimeo counts each account with a subscription plan as a Subscriber. In the case of Sales-Assisted Customers who maintain multiple accounts across Vimeo’s platforms as part of a single Sales-Assisted subscription plan, Vimeo counts only one Subscriber. Vimeo does not count team members who have access to a Subscriber’s account as additional Subscribers.

Average Subscribers – The sum of the number of Subscribers at the beginning and at the end of the relevant measurement period divided by two.

Average Revenue per User (“ARPU”) – The annualized revenue for the relevant period divided by Average Subscribers. For periods that are less than a full year, annualized revenue is calculated by dividing the revenue for that particular period by the number of calendar days in the period and multiplying this value by the number of days in that year.

Sales-Assisted Customers – Subscribers who purchase plans through contact with our sales force.

OTHER INFORMATION

Cautionary Statement Regarding Forward-Looking Information

This press release and the Vimeo livestream which will be held at 8:30 a.m. Eastern Time on August 4, 2022, contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "will," "may," "could," "should," "would," "anticipates," "estimates," "expects," "plans," "projects," "forecasts," "intends," "targets," "seeks" and "believes," as well as variations of these words or comparable words, among others, generally identify forward-looking statements. These forward-looking statements include, among others, statements relating to Vimeo's expectations regarding future results of operations and financial condition, business strategy, and plans and objectives of management for future operations. Forward-looking statements are based on our management’s beliefs and assumptions and on information currently available. These forward-looking statements are subject to a number of known and unknown risks, uncertainties and assumptions. Actual results could differ materially from those contained in or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: adverse changes in economic conditions, changes in the regulatory landscape, including, in particular, changes in laws that might increase the liability of online intermediaries for user-generated content, reputational damage caused by problematic user content or our decisions to remove (or not remove) it; changes in policies implemented by third party platforms upon which we rely for traffic and distribution of mobile apps, increased competition in the online video category, our ability to convert visitors into uploaders and uploaders into paying subscribers, our ability to retain paying subscribers by maintaining and improving our value proposition, our ability to provide video storage and streaming in a cost-effective manner, our ability to successfully attract sales-assisted customers, our ability to protect sensitive data from unauthorized access, the integrity, quality, scalability and redundancy of our systems, technology and infrastructure (and those of third parties with which we do business), our ability to successfully operate in and expand into additional international markets, our ability to adequately protect our intellectual property rights and not infringe the intellectual property rights of third parties, foreign exchange currency rate fluctuations, the impact of the COVID-19 pandemic and geopolitical events on our business, the possibility that our historical consolidated and combined results may not be indicative of our future results and the other factors set forth in the section titled "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021 filed with the Securities and Exchange Commission ("SEC") on March 1, 2022 as they may be updated by our periodic reports subsequently filed with the SEC. Other unknown or unpredictable factors that could also adversely affect Vimeo’s business, financial condition and results of operations may arise from time to time. In light of these risks and uncertainties, these forward-looking statements may not prove to be accurate. Accordingly, you should not place undue reliance on these forward-looking statements, which only reflect the views of Vimeo’s management as of the date of this communication. Vimeo does not undertake to update these forward-looking statements.

About Vimeo

Vimeo is the world's leading all-in-one video software solution. Our platform enables any professional, team, and organization to unlock the power of video to create, collaborate and communicate. We proudly serve our growing community of over 230 million users — from creatives to entrepreneurs to the world's largest companies. Learn more at www.vimeo.com.

Contact Us

Vimeo IR
Ankit Hira or Ed Yuen
Solebury Trout for Vimeo, Inc.
ir@vimeo.com

Vimeo Communications
Matt Anchin
pr@vimeo.com