Vimeo exceeds $100 million in quarterly revenue for the first time as enterprise push continues

Vimeo VMEO, +2.37% reported adjusted earnings before interest, taxes, depreciation and amortization of $800,000, whereas it posted adjusted Ebitda of $2.7 million a year earlier. The FactSet consensus was for a $6.7 million loss on the metric.

Revenue grew to $100.1 million from $75.1 million a year ago, and came in flat with the FactSet consensus. This marked the first quarter that Vimeo topped $100 million in revenue.

Vimeo’s revenue from enterprise customers grew more quickly than the overall company total and was up more than 60% in the period relative to a year earlier. The company has more than 6,000 paying enterprise customers.

See more: Vimeo CEO says company is trying to ‘create a market that was never there’

The company recently launched a new events feature, which it says enables businesses to conduct virtual events “without the need for a dedicated production team.”

Vimeo separated from IAC/InterActiveCorp. IAC, +0.88% in May and posted its second earnings report since becoming a standalone public company.

Shares of Vimeo are off 22% over the past three months, while the S&P 500 SPX, +0.65% has risen roughly 5%.