DHI Group Inc. (NYSE: DHX), a tech jobs website operator, reported third-quarter revenue rose 25.3% year over year to $38.5 million. Revenue rose at both its ClearanceJobs division, which focuses on jobs that require federal security clearances, and its Dice segment.
Total bookings were up 19% year over year to $36.5 million.
Dice bookings increased 17% year over year, while Dice revenue renewal and retention rates remained strong at 98% and 110%.
Similarly, ClearanceJobs bookings increased 23% in the third quarter, and revenue renewal and retention rates were 97% and 110%.
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“Tech job postings are about two times the number of tech workers looking for employment, even in the current macro environment,” said DHI Group President and CEO of DHI Group Art Zeile. “With this significant supply-demand gap, employers need access to our growing community of 6 million-plus tech candidates and our sophisticated tool set to find, attract, engage and hire the highest quality tech professionals.”
“We believe the total addressable market for our subscription-based offering is over $1 billion annually and that we are just scratching the surface as the growing demand for technologists continues to be strong,” Zeile said.
Guidance
DHI expects fourth-quarter revenue to be in the range of $38.5 million to $39.5 million, representing growth of between 14% and 17% year over year.
“Based on our continued strong bookings growth across both Dice and [ClearanceJobs], we are raising our guidance for the full year 2022 of total revenue in the range of $148.5 million to $149.5 million, representing growth of between 24% and 25% year over year,” said CFO Kevin Bostick. This is up from full-year revenue guidance of growth of 21% and 23% issued with the company’s second-quarter earnings release.
Share price and market cap
Shares in DHI were down 9.27% to $5.63 as of 11:33 a.m. Eastern time; they were 34.89% above their 52-week low, according to FT.com. The company had a market cap of $300.71 million.