Net revenue at Danish recruitment marketplace JobIndex declined by 4.9% year-on-year (y-o-y) in Q3 2022, to DKK100 million ($13.8 million). However, revenue rose by 9% y-o-y, to DKK340 million ($47 million U.S.), during the period Jan-Sep 2022.
EBITDA fell by 21.8% y-o-y in Q3 2022, to DKK43 million ($6.6 million U.S.).
In its earnings report (full details here), the company said while the number of job ads posted on its site fell during Q3 2022, it remained above pre-pandemic levels. It added that while it looked like the number of ads would stabilize after the summer, the outlook for the Danish economy subsequently deteriorated amid rising interest rates and elevated commodity prices.
Revenue from sales of ad products fell by 6.9% y-o-y in Q3 2022, to DKK 81 million ($11.2 million). However, revenue from recruitment products increased by 22.0% y-o-y, to DKK 6.1 million ($0.8 million).