Vimeo Inc (VMEO) 2025 Q1 法說會逐字稿

Hello, and thank you for joining Vimeo's Q1 2025 earnings live Q&A. Before we begin, a few comments. First, this session will be recorded and available on the Vimeo Investor Relations website later today. Second, we will discuss Vimeo's outlook and future performance. These future-looking statements typically may be preceded by words such as we expect, we believe, we anticipate, or other such statements. These forward-thinking views are subject to risks and uncertainties, and our actual results could differ materially from the views expressed today. Please refer to the earnings release we furnished to the SEC on Form 8-K earlier today, which is posted on our website for additional information regarding those risks and uncertainties.

您好，感謝您參加 Vimeo 的 2025 年第一季財報現場問答。在我們開始之前，先說幾點評論。首先，本次會議將錄製並於今天稍晚在 Vimeo 投資者關係網站上發布。其次，我們將討論 Vimeo 的前景和未來表現。這些面向未來的陳述通常可能以「我們期望」、「我們相信」、「我們預期」或其他類似的陳述開頭。這些前瞻性的觀點受風險和不確定性的影響，我們的實際結果可能與今天表達的觀點有重大差異。有關這些風險和不確定性的更多信息，請參閱我們今天早些時候以 8-K 表格形式向美國證券交易委員會提交的收益報告，該報告已發佈在我們的網站上。

We've also provided information regarding certain key metrics and our non-GAAP financial measures, including certain forward-looking measures. These should be considered in addition to and not as a substitute for or in isolation from GAAP measures. Additional information regarding Vimeo's financial performance, including reconciliations with comparable GAAP measures, can be found in our shareholder letter and Vimeo's filings with the SEC as well as in supplemental information posted on the Investor Relations section of our website.

我們也提供了有關某些關鍵指標和非公認會計準則財務指標（包括某些前瞻性指標）的資訊。這些應該被視為對 GAAP 指標的補充，而不是替代或孤立於 GAAP 指標。有關 Vimeo 財務表現的更多資訊（包括與可比較 GAAP 指標的對帳）可以在我們的股東信函和 Vimeo 向美國證券交易委員會提交的文件以及我們網站投資者關係部分發布的補充資訊中找到。

And with that, I'll turn it over to our CEO, Philip Moyer. Philip?

接下來，我將把發言權交給我們的執行長 Philip Moyer。菲利普？

Thank you for joining us for our Q1 2025 live question-and-answer earnings call. This April marked my one-year anniversary at Vimeo. It has been an incredible journey so far, and we are thrilled that 2025 is off to a solid start. After two-plus years of rightsizing our operations, we are now at a place of investing to drive growth, and the results are starting to show.

感謝您參加我們的 2025 年第一季現場問答收益電話會議。今年四月是我加入 Vimeo 的一週年紀念。到目前為止，這是一段令人難以置信的旅程，我們很高興 2025 年有一個好的開始。經過兩年多的營運調整，我們現在正處於投資推動成長的階段，成果開始顯現。

Self-service bookings grew 6%, marking the first growth in three years. This is a 16-point swing from the low point for this product of a negative 10% decline in year-over-year bookings in Q2 2023. This growth in bookings has cut the rate of decline in revenue from self-serve by nearly half as well.

自助預訂量成長6%，這是三年來的首次成長。與該產品 2023 年第二季度同比預訂量下降 10% 的最低點相比，這一數字出現了 16 個百分點的波動。預訂量的成長也使自助服務收入的下降率降低了近一半。

Vimeo Enterprise revenue was up 32%, and bookings were up 13%. As our Enterprise business becomes larger with more complex deals, we are increasingly focused on revenue growth and may adjust or remove some KPIs to best reflect how we are operating our business going forward. But I will note that in the first quarter, our quarterly revenue in this product was more than double the level from just two years ago.

Vimeo Enterprise 營收成長 32%，預訂量成長 13%。隨著我們的企業業務規模越來越大，交易也越來越複雜，我們越來越關注收入成長，可能會調整或刪除一些關鍵績效指標，以最好地反映我們未來的業務運作。但我要指出的是，第一季度，我們該產品的季度營收比兩年前增加了一倍多。

We are making calculated investments in critical areas that we believe can show return on investment for our business in a reasonably short period of time. We're already seeing our pace of innovation speed up this year and our recent releases of Vimeo Streaming, new Vimeo Central features, and expanded AI for self-service is generating good momentum across our business. While the economy is unpredictable and could create risks, we remain committed to our 2025 goal of profitable growth for the full year.

我們正在對關鍵領域進行有計劃的投資，我們相信這些投資可以在相當短的時間內為我們的業務帶來投資回報。我們已經看到今年我們的創新步伐加快，我們最近發布的 Vimeo Streaming、新的 Vimeo Central 功能以及擴展的自助服務 AI 正在為我們的業務帶來良好的發展勢頭。儘管經濟狀況難以預測且可能帶來風險，但我們仍致力於實現 2025 年全年獲利成長的目標。

With that, we are looking forward to your questions.

我們期待您的提問。

(Operator Instructions) Tom Champion, Piper Sandler.

（操作員指示）湯姆·錢皮恩、派珀·桑德勒。

Good afternoon, everyone. Philip, let's start with self-serve. Great to see the business returning to bookings growth. Can you talk a little bit more about the impact of the pricing changes you made at the end of last year? Has that completely cycled its way through the base? What are you seeing on the retention side? And maybe what do you foresee as the trend in self-serve through the balance of the year?

大家下午好。菲利普，我們從自助服務開始吧。很高興看到業務恢復預訂量成長。能否再詳細談談去年年底進行的價格調整的影響？它已經完全循環通過基地了嗎？您在保留方面看到了什麼？您預測今年全年自助服務的趨勢會是怎麼樣的？

Sure. So we're very pleased. Again, I think I had mentioned back in Q3 and Q4 that we were pleased with the results that we were seeing from the price increase. One of the things we did is we increased prices by as much as, in some cases, 20% with some of our customers. But when we did that price increase, we also gave the customers more.

當然。所以我們非常高興。再次，我想我在第三季和第四季都提到過，我們對價格上漲帶來的結果感到滿意。我們採取的措施之一是，對部分客戶提高價格，有時甚至提高 20%。但當我們提高價格時，我們也給了顧客更多。

And as a result, we saw actually lower churn rates. We continue to see that trend. We're rippling more pricing changes through our base as we get into the higher priced plans. We're starting that as we talk here in the month of May. But in general, as you know, we get self-service bookings or we renew and the price increase kicks in as customers renew.

結果，我們的客戶流失率實際上降低了。我們繼續看到這種趨勢。隨著我們推出更高價格的計劃，我們將透過我們的基礎推出更多的價格變化。我們將在五月開始討論這個問題。但一般來說，如您所知，我們會進行自助預訂或續訂，隨著客戶續訂，價格也會上漲。

So we're expecting to see continued growth if the trends of churn continue and the trends that we're seeing inside of the business, we're expecting to see kind of similar growth going forward here this year.

因此，如果客戶流失趨勢和我們在業務內部看到的趨勢持續下去，我們預計會看到持續成長，我們預計今年這裡會出現類似的成長。

Okay, great. Maybe I'll just ask Gillian one more. Gillian, on the investment, the $30 million, do you think that's a good base case for us to consider? Do you think at this point, seeing what you can see that, that's the amount that you're going to reinvest back into the business? And what would you need to see to change for you not to invest the full amount?

好的，太好了。也許我應該再問吉莉安一個問題。吉莉安，關於這筆 3000 萬美元的投資，您認為這是我們可以考慮的一個好的基本情況嗎？就目前情況而言，您是否認為這就是您要重新投資到業務中的金額？您需要看到哪些變化才能不投資全部金額？

Sure. So when we think about the investment, we've said we have an appetite for up to $30 million of investment. As I look at the business, if you sort of take the fourth quarter, annualize it, add a little bit of inflation, what you've seen in terms of where the guidance plays out for the guidance of EBITDA to be between $25 million and $30 million would imply something in the 20s running through the EBITDA line. What you will see is we have capitalized some expense because some of our projects are bigger, so that would add to it. So I think we continue to say up to $30 million.

當然。因此，當我們考慮投資時，我們表示我們願意投資高達 3000 萬美元。當我審視這項業務時，如果你以第四季度的數據為例，將其按年計算，再加上一點通貨膨脹，那麼你所看到的指導方針是，EBITDA 的指導值在 2500 萬美元到 3000 萬美元之間，這意味著 EBITDA 線的走向在 20 左右。您將看到，我們已經將一些費用資本化，因為我們的一些項目規模較大，因此這會增加費用。所以我認為我們繼續說最高可達 3000 萬美元。

Don't expect it to be more than $30 million. And as we think about it, we're trying to be really, really responsible with the dollars, really looking at each project very specifically. So we're going to really try to not -- we don't want to spend all the way up to $30 million. We're going to really try to be very responsible as you've seen us be in the past. And we go through every quarter and look at every project and try to find the right balance of investment to growth potential for us.

不要指望它會超過 3000 萬美元。當我們考慮這個問題時，我們會努力真正負責任地使用資金，真正具體地審視每個項目。所以我們真的會盡力不——我們不想花掉高達 3000 萬美元。正如您過去所見，我們將真正努力做到非常負責任。我們每季都會審查每個項目，並試圖找到投資與成長潛力之間的適當平衡。

And our next caller, Youssef Squali from Truist.

我們的下一位嘉賓是來自 Truist 的 Youssef Squali。

Thanks for taking my questions. So maybe, Philip, can we just start at a high level. I know, obviously -- you provided the caveat of the macro being uncertain. Can you maybe talk about what you're seeing so far? What are you hearing exactly from your customers, both on the Enterprise side, on the Self-Serve side? And just in terms of maybe some of the challenges they're seeing, if any, at this point?

感謝您回答我的問題。所以，菲利普，也許我們可以從高層次開始。我知道，顯然——您提出了宏不確定的警告。您能談談目前所看到的情況嗎？您從企業客戶和自助服務客戶那裡聽到了什麼具體消息？那麼，他們目前可能面臨的一些挑戰是什麼？

Yeah. I think on the self-service side, we're seeing some consistency quarter over quarter just in terms of the macro conditions in that business. That business, as I mentioned, we're still seeing some good retention rates in Self-Service.

是的。我認為，在自助服務方面，就該業務的宏觀條件而言，我們看到季度間呈現一定的一致性。正如我所提到的，我們仍然看到自助服務業務具有良好的保留率。

In the Enterprise business, this past quarter, one of the things that we did was that we introduced a brand-new leader into our sales-assisted motion. So in that Vimeo Enterprise business, we have a new individual that's leading that business. We also made some foundational changes in that business to build on the relationships.

在企業業務中，上個季度我們所做的事情之一就是為我們的銷售輔助行動引入了一位全新的領導者。因此，在 Vimeo Enterprise 業務中，我們有一位新人來領導這項業務。我們也對該業務進行了一些基礎性變革，以建立關係。

Last year, we talked a lot about how we not just landed with customers, but expanded a lot. And we think that that's going to be a really important thing going forward with customers.

去年，我們多次談論我們如何不僅贏得客戶，而且還實現了大幅擴張。我們認為這對客戶的未來發展來說將是一件非常重要的事情。

One of the things that we're excited about, when we go out and talk to customers right now, cost is on everyone's mind. We believe that we represent an opportunity for cost takeout in a lot of these organizations because in some cases, we can replace two, three, four other products across different divisions.

令我們興奮的事情之一是，當我們出去與客戶交談時，每個人都關心成本問題。我們相信，我們為許多此類組織提供了降低成本的機會，因為在某些情況下，我們可以取代不同部門的兩種、三種、四種其他產品。

Some of our biggest customers are being used by in as many as 20 divisions inside of a company. And so a very big element of our sales motion is to go out and not just talk about the value that we can create, but also the cost that potentially we can take out for customers. And so that's an important conversation right now.

我們的一些最大客戶被公司內部多達 20 個部門所使用。因此，我們銷售行動的一個非常重要的因素是不僅要談論我們能夠創造的價值，還要談論我們可能為客戶降低的成本。所以這是現在的重要議題。

There are some segments. There are some deals that actually slowed down and slipped into Q2 for us from Q1 in some businesses that are impacted by the macroeconomic elements of the business. We are not impacted by tariffs right now. As you can imagine, we don't ship physical goods, and so we're not seeing kind of a tariff overhang. But some of our customers are taking a step back.

有一些片段。一些業務的交易實際上已經放緩，從第一季進入第二季度，這受到了宏觀經濟因素的影響。我們目前沒有受到關稅的影響。你可以想像，我們不運送實體商品，所以我們沒有看到關稅過剩的問題。但我們的一些客戶卻退縮了。

Some are slowing some deals down. But again, I think we're able to go in and actually have both a value and a cost conversation with those customers. So still optimistic around that Enterprise business, and we'll expect to get even more optimistic as our leadership, the new leadership kind of takes hold and some of the changes we made organizationally in Q1 also take hold with customers.

有些國家正在放慢一些交易的腳步。但我再次認為，我們能夠與這些客戶進行有關價值和成本的對話。因此，我們對企業業務仍然持樂觀態度，隨著我們的領導層、新領導層的確立以及我們在第一季在組織上做出的一些改變在客戶中產生的影響，我們預計會變得更加樂觀。

Okay. And maybe on the Enterprise side, when I look at bookings growth, it decelerated quite a bit between Q4 and Q1. I think you called out in the release that it's up against some tough comps, which we can clearly see. But you also called out this major transition in sales team. Any idea, any way we can kind of quantify that? And how do you see that transition going so far in April? And what's your expectations for the second quarter?

好的。也許在企業方面，當我查看預訂量成長時，它會在第四季度和第一季之間減速相當多。我想您在發布會上提到過，它面臨著一些艱難的競爭，這一點我們可以清楚地看到。但您也提到了銷售團隊的重大轉變。有什麼想法嗎？有什麼方法可以量化這一點？您認為四月的轉變進展如何？您對第二季的預期是什麼？

Yeah. In Q2, we still have solid growth goals for that Enterprise team. The Enterprise business, the interesting thing about that business, unlike the Self-Service business, if you don't make your number in one month, you can make it in the next month.

是的。在第二季度，我們仍然為企業團隊設定了穩健的成長目標。企業業務，該業務的有趣之處在於，與自助服務業務不同，如果您在一個月內沒有達到目標，您可以在下個月實現目標。

And the Enterprise business can be very lumpy, I mean I think that you're seeing that in -- as we cross over this $100 million in bookings. The focus that we have for that business is to expand ARPU and AOV in the business, getting larger relationships with customers. And so some of those deals actually can slip from month to month. We still have solid aggressive goals for that business.

企業業務可能會非常不穩定，我的意思是，我認為你會看到這一點——當我們的預訂量超過 1 億美元時。我們對該業務的重點是擴大業務中的 ARPU 和 AOV，與客戶建立更牢固的關係。因此，其中一些交易實際上可能會逐月下滑。我們對該業務仍然有堅定而積極的目標。

As I said at the remarks at the start, we're going to be increasingly focused on revenue inside of that business because bookings are not always necessarily translated in the very next quarter in the very next month. Sometimes you have Enterprise contracts that actually have requirements that you have to fulfill before you can start actually achieving the revenue.

正如我在一開始的評論中所說的那樣，我們將越來越關注該業務的收入，因為預訂量不一定會在下個季度或下個月轉化。有時，企業合約中確實有一些要求，您必須先滿足這些要求，然後才能真正開始獲得收入。

And so as I mentioned, bookings isn't always the best indicator of what growth is going to come. So still aggressive goals, still a great value proposition, still feel very good about that part of the business going forward.

正如我所提到的，預訂量並不總是未來成長的最佳指標。因此，我們仍然有積極的目標，仍然有很大的價值主張，我們對未來業務的這一部分仍然感到非常樂觀。

And now we'll go to Bill Kerr from TD Cowen.

現在我們來談談 TD Cowen 公司的 Bill Kerr。

So maybe my first one would just be, can you just talk about how GenAI and those features that you might be rolling out are coming up in conversations with customers and how that shifted over the last several months? And then maybe are there any features like that or just features broadly that we should be keeping an eye out on as we think about your product road map as we move through the rest of 2025? And then I have one more.

所以我的第一個問題是，您能否談談 GenAI 和您可能推出的那些功能在與客戶的對話中是如何出現的，以及它們在過去幾個月中是如何變化的？那麼，在我們考慮 2025 年剩餘時間的產品路線圖時，是否有類似的功能或只是廣泛的功能值得我們關注？然後我還有一個。

Sure. I think so far, we had rolled out our AI features, our GenAI features, to our Enterprise customers last year. And I think we had mentioned that a significant portion of our deals back in Q4 were being driven by our AI features. We continue to see really good traction in terms of interest in our AI features, things like translations, in particular, with our Enterprise customers.

當然。我認為到目前為止，我們去年已經向企業客戶推出了我們的 AI 功能，即 GenAI 功能。我想我們已經提到過，第四季度我們的很大一部分交易都是由我們的人工智慧功能推動的。我們繼續看到人們對我們的人工智慧功能（例如翻譯）的興趣日益濃厚，尤其是我們的企業客戶。

Roughly back in the second week of April, we actually started rolling that out to all of our Self-Service subscribers as well, that translations capability.

大約在四月的第二週，我們實際上也開始向所有自助服務訂閱者推出該翻譯功能。

Now, that's been out for a grand total of a little bit over two weeks at this point. We're seeing some bright spots. We see some customers coming in and translating in some cases, some entire video libraries using some of our translation features.

現在，到現在為止，已經過了兩週多一點的時間。我們看到了一些亮點。我們看到一些客戶進來，在某些情況下，一些客戶使用我們的一些翻譯功能來翻譯整個影片庫。

A very, very important element of what we rolled out, and I do not want to -- I can't overstate how important this is, is that we rolled out security for every single one of the customers that uses that so that every single customer has their own memory and has their own capability to be able to control their AI, very important to the creator community, whether or not you're the largest company in the world or whether or not you're an individual filmmaker. So a really important element.

我們推出的一個非常非常重要的元素是，我們為每位使用該服務的客戶推出了安全性，以便每位客戶都有自己的記憶，都有自己的能力來控制他們的人工智慧，這對創作者社群非常重要，無論你是世界上最大的公司還是個人電影製作人。所以這是一個非常重要的因素。

Second thing that we rolled out was that ability to be able to monetize so that if you have 100 minutes of video that you want to translate or 1,000 minutes of video that you want to translate that we have a mechanism to be able to monetize that as we go forward. So very important infrastructure that was just put out for our over 1 million customer base. And so translations just in general, continue to be, I'll say, a lot of interest in it because approximately 45% of our customer base is international.

我們推出的第二件事是能夠將其貨幣化，這樣，如果您有 100 分鐘的影片需要翻譯，或者有 1,000 分鐘的影片需要翻譯，我們就會有一個機制，可以在前進的過程中將其貨幣化。這是我們為超過 100 萬名客戶群推出的非常重要的基礎設施。因此，我認為，人們對翻譯總體上仍然很感興趣，因為我們大約 45% 的客戶群是國際客戶。

Some of the other capabilities that we're starting to talk about with our Enterprise customers is this ability to be able to have discovery and also the ability to be able to ask video questions. We are excited about the notion of agentic video. So you might be hearing a lot about agents. So whether or not Google's Agentspace or Glean's capabilities, NVIDIA's Agent technology.

我們開始與企業客戶討論的其他一些功能包括發現能力以及提出視訊問題的能力。我們對代理影片的概念感到興奮。您可能聽過很多有關代理商的消息。因此，無論 Google 的 Agentspace 或 Glean 的功能，NVIDIA 的 Agent 技術都是如此。

Vimeo is actually rolling out this ability to be able to have agentic video. So the video can be used by agents in line with workflow. We think that that's going to be a very powerful element for things like customer support and sales and other use cases.

Vimeo 實際上正在推出這種功能，以便能夠擁有代理影片。因此代理商可以根據工作流程使用該影片。我們認為這對於客戶支援、銷售和其他用例來說將是一個非常強大的元素。

And then finally, some of our ability to be able to describe what's going on in a video, we think, is going to be very important for internal search, for internal learning and even in some cases, for external discovery. And so those capabilities, while they're not in our revenue today, we've got a very solid road map as we go in the next quarter and over the course of the rest of the year around a rollout of more and more AI capabilities. So we really expect to lead the market in video -- in AI as it relates to video and in this new category, what we call agentic video.

最後，我們認為，描述影片中發生的事情的能力對於內部搜尋、內部學習，甚至在某些情況下對於外部發現都非常重要。因此，雖然這些功能目前不在我們的收入來源中，但我們已經制定了非常可靠的路線圖，將在下個季度以及今年剩餘時間內推出越來越多的人工智慧功能。因此，我們確實希望引領視訊市場——在與視訊相關的人工智慧領域以及我們稱之為代理視訊的新類別中。

And Bill, when you think about it financially, I think there's another really important piece in this rollout, which is the idea of essentially a consumable, so an in-period revenue stream for Vimeo. And we think that this is a really great way to keep moving our ARPUs up over time across the whole business. So you've seen us be on a steady march up in ARPU across pretty much the two big products that we sell. And at the same time, you've seen a headwind in add-ons.

比爾，當你從財務角度考慮時，我認為這次推出還有另一個非常重要的部分，那就是本質上的消耗品，也就是 Vimeo 的期間收入流。我們認為，這是一種非常好的方法，可以讓我們整個業務的 ARPU 值隨著時間的推移而不斷上升。因此，您會看到，我們銷售的兩種主要產品的 ARPU 都在穩步上升。同時，您也會看到附加元件方面遭遇阻力。

The way we're thinking about this is AI is the beginning, just translations itself is the beginning of a number of items that we can sell to our customer base on an as-you-needed basis. And so I think that's a really important piece of our story and will be a big piece of how we think about our long-term growth as we move out even over years in terms of what we can do with our platform itself and then the consumables that customers might want for their specific uses and needs.

我們對此的看法是，人工智慧是一個開始，翻譯本身就是一系列產品的開始，我們可以根據需要將這些產品出售給我們的客戶群。因此，我認為這是我們故事中非常重要的一部分，也是我們如何思考長期成長的重要組成部分，因為我們會在未來的幾年中繼續前進，考慮我們可以用我們的平臺本身做什麼，以及客戶可能需要的用於特定用途和需求的消耗品。

That's very helpful. And then I was wondering about whether there are any particular industries or categories that you're seeing particular strength or maybe even softness over the course of the first quarter and so far into 2Q? That would be really helpful.

這非常有幫助。然後我想知道，在第一季以及目前的第二季中，您是否看到某些特定行業或類別表現得特別強勁，或者甚至疲軟？那將會非常有幫助。

Yeah, I think there's a few. Marketing is a very important cohort to us where people are using more and more video in e-commerce and in their marketing environments.

是的，我認為有幾個。行銷對我們來說是一個非常重要的領域，人們在電子商務和行銷環境中使用越來越多的影片。

The second thing I would say is that we are seeing a tremendous amount of interest from regulated industries. We can go into a video and say, does this video promise any kind of returns that it shouldn't be promising, or we can say, for a pharmaceutical company, does the video actually -- does the video talk about side effects of a particular medication. Because of the AI work that we're doing, you actually can interrogate videos in a way that you couldn't before.

我想說的第二件事是，我們看到受監管行業表現出極大的興趣。我們可以查看一段影片並判斷，這段影片是否承諾了任何不應該承諾的回報，或者我們可以說，對於一家製藥公司來說，這段影片是否真的——這段影片是否談到了某種特定藥物的副作用。由於我們正在進行的人工智慧工作，您實際上可以以以前無法實現的方式查詢影片。

And so I think a lot of organizations that are in regulated industries are starting to look at some of our capabilities and saying that it's actually -- you can actually achieve compliance and achieve some of the regulatory requirements, both internally and externally in the marketplace with some of the technologies we're delivering.

因此，我認為許多受監管行業的組織開始關注我們的一些能力，並表示實際上——利用我們提供的一些技術，您實際上可以在市場內部和外部實現合規性並滿足一些監管要求。

Additionally, some of the work that we've done around translations, again, in the marketing world, being able to have your video discoverable in more languages actually leads to better discovery. And so that translations capability for both marketing and even for educators is really -- is doing well. So marketing, education and regulated industries, we're seeing a lot of interest.

此外，我們在行銷領域所做的一些翻譯工作，能夠讓您的影片以更多語言被發現實際上會帶來更好的發現。因此，對於行銷人員和教育工作者來說，翻譯能力確實做得很好。因此，我們看到了行銷、教育和受監管行業的大量興趣。

That concludes today's question-and-answer period. Now we're going to turn it back to Philip, our CEO. Philip?

今天的問答環節到此結束。現在我們將話題轉回給我們的執行長菲利普。菲利普？

I want to thank you again for joining our Q1 2025 earnings call.

我想再次感謝您參加我們的 2025 年第一季財報電話會議。

One other item of note. Last week, we filed our recent proxy statement, and we're saying goodbye and a huge thank you to our Board members, Alesia Haas and Ida Kane, for their contributions to Vimeo since May 2021. We're also excited to nominate our new Board members for shareholder approval, Adam Cahan, Kirsten Kliphouse, and Lydia Jett.

還有一件值得注意的事。上週，我們提交了最近的代理聲明，我們向董事會成員 Alesia Haas 和 Ida Kane 道別，並衷心感謝他們自 2021 年 5 月以來對 Vimeo 的貢獻。我們也很高興提名新董事會成員 Adam Cahan、Kirsten Kliphouse 和 Lydia Jett 以獲得股東批准。

I want to thank you again, and we'll see you for our Q2 update.

我想再次感謝您，我們將在第二季更新中與您見面。