KANZHUN LIMITED: Q3 2024 Financial Results and Growth Drivers

KANZHUN LIMITED, a leading online recruitment platform in China, recently announced its unaudited financial results for the quarter ended September 30, 2024. The company's strong performance was driven by robust user growth, solid enterprise retention, and stable ARPPU, reflecting the resilience of its business model. This article delves into the key highlights of the financial results and the growth drivers behind them.



Key Financial Highlights

* Total paid enterprise customers increased by 22.4% YoY to 6.0 million.
* Average monthly active users (MAU) grew by 30.0% YoY to 58.0 million.
* Revenues surged by 19.0% YoY to RMB1,911.6 million (US$272.4 million).
* Adjusted income from operations rose by 10.2% YoY to RMB605.3 million (US$86.2 million).
* Adjusted net income increased by 3.5% YoY to RMB738.9 million (US$105.3 million).

Growth Drivers

1. Expansion in Paid Enterprise Customers: The 22.4% increase in paid enterprise customers contributed significantly to Kanzhun's revenue mix and profitability. Revenues from online recruitment services to enterprise customers grew by 18.7% YoY, accounting for 98.7% of total revenues. This growth demonstrates the company's ability to effectively monetize its user base.

2. MAU Growth and User Engagement: Kanzhun's MAU growth of 30.0% YoY was driven by strategic marketing and user engagement initiatives. The company's focus on robust user growth, solid enterprise retention, and stable ARPPU showcases the resilience of its business model. The increase in MAU can be attributed to the company's effective marketing strategies and commitment to shareholder returns.
3. Expansion of Job Seeker Base and Enterprise User Retention: The growth in paid enterprise customers, coupled with a 49% rise in value-added services for job seekers, contributed to the robust MAU growth. This expansion of the job seeker base and solid enterprise retention reflect the platform's resilience and sustainability.

In conclusion, Kanzhun Limited's strong financial performance in Q3 2024 was driven by a combination of factors, including the expansion of paid enterprise customers, MAU growth, and user engagement initiatives. As the company continues to focus on sustainable cost control and improved marketing efficiency, investors can expect further enhancements to its profitability in the coming quarters.