HeadHunter Doubled Third Quarter Revenue

In the third quarter of this year, HeadHunter's revenue doubled compared to the same period last year and amounted to 4.69 billion rubles, according to the company's report. According to HeadHunter CEO Mikhail Zhukov, the dynamics are associated with "accelerated transition from offline to online" and an increase in the platform's client base to 450,000 clients. The number of paid accounts increased by 45% to 283.5 thousand. Paid accounts provide employers with access to a database of 50 million job seekers, allow them to promote posted vacancies to prominent positions or highlight them separately in the search, and receive a selection of eligible candidates.

Adjusted EBITDA HeadHunter in the third quarter amounted to 2.83 billion rubles., Which is 116.8% more than the same period a year ago. Net profit grew 4 times, up to 1.7 billion rubles.

“In the third quarter, we expanded our customer offering with a new built-in chat feature, a completely redesigned mobile app for employers , and a user experience optimization for the blue collar category. In related areas such as recruitment automation, employer branding, and more recently the job market, we have made great progress through close collaboration with Skillaz, DreamJob and YouDo,” he said in the report.

HeadHunter has raised its full-year 2021 revenue guidance. If earlier it was assumed that at the end of the year the indicator would increase by 63-68%, now it is by 81-84%. At the same time, company representatives expect that non-working days, which were introduced in different regions of RUSSIA due to a sharp increase in cases of covid-19 from late October to November 7, will have an impact on revenue and net profit in the fourth quarter of this year.