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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2020
or
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from               to               
Commission File Number 001-39310               
ZoomInfo Technologies Inc.
(Exact name of registrant as specified in its charter)
Delaware
84-3721253
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
805 Broadway Street, Suite 900
Vancouver, Washington
98660
(Address of principal executive offices)(Zip Code)
(800) 914-1220
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class
Trading Symbol(s)
Name of each exchange on which registered
Class A common stock, par value $0.01 per shareZIThe Nasdaq Stock Market LLC
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes    No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes    No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large Accelerated Filer
Accelerated Filer
Non-accelerated Filer
Smaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  
Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act).  Yes    No

As of November 11, 2020, the number of outstanding shares of the registrant's common stock was:
69,240,501 shares of Class A common stock.
228,488,162 shares of Class B common stock.
91,582,353 shares of Class C common stock.



ZoomInfo Technologies Inc.
Quarterly Report on Form 10-Q
For the Quarterly Period Ended September 30, 2020

TABLE OF CONTENTS
Page
               Condensed Consolidated Balance Sheets
               Consolidated Statements of Operations
               Consolidated Statements of Comprehensive Loss
               Consolidated Statements of Cash Flows
i

Table of Contents
GLOSSARY
As used in this quarterly report on Form 10-Q (this “Form 10-Q”), the terms identified below have the meanings specified below unless otherwise noted or the context indicates otherwise. References in this Form 10-Q to “ZoomInfo Technologies Inc.” refer to ZoomInfo Technologies Inc. and not to any of its subsidiaries unless the context indicates otherwise. References in this Form 10-Q to “ZoomInfo,” the “Company,” “we,” “us,” and “our” refer (1) prior to the consummation of the Reorganization Transactions, to ZoomInfo OpCo and its consolidated subsidiaries, and (2) after the consummation of the Reorganization Transactions, to ZoomInfo Technologies Inc. and its consolidated subsidiaries unless the context indicates otherwise.
22C Capital” refers to investment funds associated with 22C Capital LLC and its predecessor.
ACV” refers to annual contract value, or the total annualized value that a customer has agreed to pay for subscription services at any particular point in time under contract(s) that are or were enforceable at that point in time.
Blocker Companies” refers to certain of our Pre-IPO OpCo Unitholders that are taxable as corporations for U.S. federal income tax purposes.
Blocker Mergers” refers to the mergers described under “Reorganization Transactions” in Note 1 to our unaudited consolidated financial statements included in Part I, Item 1 of this Form 10-Q.
Carlyle” refers to investment funds associated with The Carlyle Group.
Class P Units” refers to Class P Units (including, without limitation, any indirectly held Class P Units) of ZoomInfo OpCo.
Continuing Class P Unitholders” refers to certain pre-IPO owners who continued to hold Class P Units following the consummation of the Reorganization Transactions and the IPO.
Continuing members” refers to pre-IPO owners who continue to hold HoldCo Units or OpCo Units following the Reorganization Transactions and the IPO.
Customers” refers to companies that have contracted with us to use our services and, at the time of measurement, maintain one or more active paid subscriptions to our platform. Paid subscriptions will generally include access for a number of employees or other affiliated persons of the customer.
Exchange Tax Receivable Agreement” refers to the tax receivable agreement entered into with certain Pre-IPO OpCo Unitholders.
Founders” refers to Henry Schuck, our Chief Executive Officer, and Kirk Brown.
HoldCo Units” refers to the class of units of ZoomInfo HoldCo.
HSKB” and “HSKB I” refers to HSKB Funds, LLC, a privately held limited liability company formed on February 9, 2016 for the purpose of issuing equity to certain persons who had performed and would continue to perform services for ZoomInfo OpCo.
HSKB II” refers to HSKB Funds II, LLC, a privately held limited liability company formed on May 28, 2020 for the purpose of effecting a reorganization of HSKB I at the time of the IPO and to issue equity to certain persons who had performed and would continue to perform services for ZoomInfo OpCo.
IPO” refers to the initial public offering of Class A common stock of ZoomInfo Technologies Inc.
IPO Prospectus” refers to ZoomInfo Technologies Inc.’s prospectus dated June 3, 2020 filed with the SEC pursuant to Rule 424(b) of the Securities Act on June 5, 2020.
LTIP Units” refers to a class of partnership units that are intended to qualify as “profit interests” in ZoomInfo OpCo for federal income tax purposes that, subject to certain conditions, including vesting, are convertible by the holder into OpCo Units.
NeverBounce” refers to Metrics Delivered LLC.
OpCo Units” refers to the class of units of ZoomInfo OpCo and does not include Class P Units.
Pre-Acquisition ZI” refers to Zoom Information Inc.
Pre-IPO Blocker Holders” refers to the pre-IPO owners that held their interests in us through the Blocker Companies immediately prior to the IPO.
Pre-IPO HoldCo Unitholders” refers to the pre-IPO owners that held HoldCo Units immediately prior to the IPO.
Pre-IPO OpCo Unitholders” refers to the pre-IPO owners that held OpCo Units immediately prior to the IPO.
ii

Table of Contents
Pre-IPO owners” refers collectively to the Sponsors, the Founders, and the management and other equity holders who were the owners of ZoomInfo OpCo immediately prior to the Reorganization Transactions.
RainKing” refers to Rain King Software, Inc.
Reorganization Tax Receivable Agreement” refers to the tax receivable agreement entered into with the Pre-IPO Blocker Holders.
Reorganization Transactions” refers to the transactions described under “Reorganization Transactions” in Note 1 to our unaudited consolidated financial statements included in Part I, Item 1 of this Form 10-Q.
SEC” refers to the Securities and Exchange Commission.
Secondary Offering” refers to the offering by certain selling stockholders, including entities affiliated with the Sponsors, of 17,179,135 shares of Class A common stock of ZoomInfo Technologies Inc. completed on August 24, 2020.
Securities Act” refers to the Securities Act of 1933, as amended.
Series A Preferred Units” refers to the Series A preferred units of ZoomInfo OpCo outstanding immediately prior to the IPO.
Sponsors” refers collectively to TA Associates, Carlyle, and 22C Capital.
TA Associates” refers to investment funds associated with TA Associates.
Tax Receivable Agreements” refers collectively to the Exchange Tax Receivable Agreement and the Reorganization Tax Receivable Agreement.
Topic 606” refers to Accounting Standard Update (“ASU”) 2014-09, Revenue from Contracts with Customers, later codified as Accounting Standards Codification (“ASC”) Topic 606.
ZoomInfo HoldCo” refers to ZoomInfo Intermediate Holdings LLC, a Delaware limited liability company, and a direct subsidiary of ZoomInfo Technologies Inc.
ZoomInfo OpCo” refers to ZoomInfo Holdings LLC (formerly known as DiscoverOrg Holdings, LLC), a Delaware limited liability company, and a direct subsidiary of ZoomInfo HoldCo and indirect subsidiary of ZoomInfo Technologies Inc.
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
From time to time we make statements concerning our expectations, beliefs, plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements that are not historical facts. These statements are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those expressed or implied by these statements. You can generally identify our forward-looking statements by the words “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “may,” “might,” “objective,” “outlook,” “plan,” “potential,” “predict,” “projection,” “seek,” “should,” “target,” “trend,” “will,” “would” or the negative version of these words or other comparable words.
We have based our forward-looking statements on our management’s beliefs and assumptions based on information available to our management at the time the statements are made. We caution you that assumptions, beliefs, expectations, intentions and projections about future events may and often do vary materially from actual results. Therefore, we cannot assure you that actual results will not differ materially from those expressed or implied by our forward-looking statements.
The following are some of the factors that could cause actual results to differ from those expressed or implied by our forward-looking statements, including forward-looking statements contained in this Quarterly Report on Form 10-Q:
the COVID-19 pandemic, including the global economic uncertainty and measures taken in response, could materially impact our business and future results of operations;
larger well-funded companies shifting their existing business models to become more competitive with us;
our ability to provide or adapt our platform for changes in laws and regulations or public perception, or changes in the enforcement of such laws, relating to data privacy;
the effects of companies more effectively catering to our customers by offering more tailored products or platforms at lower costs;
adverse general economic and market conditions reducing spending on sales and marketing;
the effects of declining demand for sales and marketing subscription platforms;
our ability to improve our technology and keep up with new processes for data collection, organization, and cleansing;
our ability to provide a highly accurate, reliable, and comprehensive platform moving forward;
our reliance on third-party systems that we do not control to integrate with our system and our potential inability to continue to support integration;
our ability to adequately fund research and development potentially limiting introduction of new features, integrations, and enhancements;
our ability to attract new customers and expand existing subscriptions;
a decrease in participation in our contributory network or increased opt-out rates impacting the depth, breadth, and accuracy of our platform;
our failure to protect and maintain our brand and our ability to attract and retain customers;
our ability to successfully integrate acquired businesses, services, databases and technologies into our operations; and
other factors described under “Risk Factors” in Item 1A of Part II of our Quarterly Report on Form 10-Q for the quarterly period ended June 30,2020, and in other reports we file from time to time with the SEC.
These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this Form 10-Q and our other filings with the SEC. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, our actual results may vary in material respects from those projected in our forward-looking statements. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures, investments, or other strategic transactions we may make.
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You should not place undue reliance on our forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future developments or otherwise, except as required by law.
Website Disclosure
The Company intends to use its website as a distribution channel of material company information. Financial and other important information regarding the Company is routinely posted on and accessible through the Company’s website at https://ir.zoominfo.com. In addition, you may automatically receive email alerts and other information about the Company when you enroll your email address by visiting the “Email Alerts” section of our investor relations page at https://ir.zoominfo.com. The information on our website is not incorporated herein or otherwise a part of this Form 10-Q.
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PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS

INDEX TO FINANCIAL STATEMENTS
Unaudited Consolidated Financial Statements of ZoomInfo Technologies Inc. and Subsidiaries
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ZoomInfo Technologies Inc.
Condensed Consolidated Balance Sheets
(in millions, except share data)
September 30,December 31,
20202019
(unaudited)
Assets
Current assets:
Cash and cash equivalents$304.9 $41.4 
Restricted cash1.1 1.1 
Accounts receivable90.4 86.9 
Prepaid expenses and other current assets10.2 8.3 
Deferred costs10.7 6.6 
Income tax receivable4.1 3.9 
Total current assets421.4 148.2 
Property and equipment, net28.4 23.3 
Operating lease right-of-use assets, net34.0 36.8 
Other assets:
Intangible assets, net340.0 370.6 
Goodwill966.8 966.8 
Deferred tax assets238.1  
Deferred costs, net of current portion19.8 16.2 
Total assets$2,048.5 $1,561.9 
Liabilities, Temporary, and Permanent Equity (Deficit)
Current liabilities:
Accounts payable$9.7 $7.9 
Accrued expenses and other current liabilities52.5 62.9 
Unearned revenue, current portion175.3 157.7 
Income taxes payable5.1 0.5 
Current portion of operating lease liabilities4.9 4.0 
Current portion of long-term debt 8.7 
Total current liabilities247.5 241.7 
Unearned revenue, net of current portion0.7 1.4 
Tax receivable agreements liability, net of current portion182.6  
Operating lease liabilities, net of current portion37.0 40.7 
Long-term debt, net of current portion744.3 1,194.6 
Deferred tax liabilities7.9 82.8 
Other long-term liabilities8.0 14.3 
Total liabilities1,228.0 1,575.5 
Series A Preferred Units 200.2 
Commitments and Contingencies (Note 11)
Permanent Equity (Deficit)
Members' equity (deficit) (207.8)
Class A common stock, par value $0.01
0.7  
Class B common stock, par value $0.01
2.3  
Class C common stock, par value $0.01
0.9  
Additional paid-in capital402.1  
Accumulated other comprehensive income (loss)(2.9)(6.0)
Retained Earnings(29.5) 
Noncontrolling interests446.9  
Total equity (deficit)820.5 (213.8)
Total liabilities, temporary, and permanent equity (deficit)$2,048.5 $1,561.9 


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ZoomInfo Technologies Inc.
Consolidated Statements of Operations
(in millions, except per share amounts; unaudited)
Three Months Ended September 30,Nine Months Ended September 30,
2020201920202019
Revenue$123.4 $79.1 $336.5 $202.2 
Cost of service:
Cost of service(2)
21.2 11.2 64.2 30.5 
Amortization of acquired technology5.5 6.6 16.7 19.6 
Gross profit96.7 61.3 255.6 152.1 
Operating expenses:
Sales and marketing(2)
46.1 24.2 139.7 63.0 
Research and development(2)
10.6 7.5 36.9 21.6 
General and administrative(2)
17.1 9.1 45.3 25.9 
Amortization of other acquired intangibles
4.6 4.6 13.9 12.9 
Restructuring and transaction related expenses
(0.1)2.8 12.3 11.8 
Total operating expenses
78.3 48.2 248.1 135.2 
Income (loss) from operations
18.4 13.1 7.5 16.9 
Interest expense, net
9.7 26.5 59.3 76.9 
Loss on debt extinguishment
  14.9 18.2 
Other (income) expense, net
(3.8) (3.8) 
Income (loss) before income taxes
12.5 (13.4)(62.9)(78.2)
Benefit (expense) from income taxes
(1.4)1.0 (9.8)5.7 
Net income (loss)11.1 (12.4)(72.7)(72.5)
Less: Net income (loss) attributable to ZoomInfo OpCo prior to the Reorganization Transactions (12.4)(5.1)(72.5)
Less: Net income (loss) attributable to noncontrolling interests6.2  (38.1) 
Net income (loss) attributable to ZoomInfo Technologies Inc.$4.9 $ $(29.5)$ 
Net income (loss) per share of Class A and Class C common stock(1):
Basic
$0.03 N/A$(0.26)N/A
Diluted
$0.02 N/A$(0.26)N/A
________________
(1)Basic and diluted net income (loss) per share of Class A and Class C common stock is applicable only for the period from June 4, 2020 through September 30, 2020, which is the period following the initial public offering ("IPO") and related Reorganization Transactions (as defined in Note 1 to the Unaudited Consolidated Financial Statements). See Note 13 for the number of shares used in the computation of net income (loss) per share of Class A and Class C common stock and the basis for the computation of net income (loss) per share.
(2)Amounts include equity-based compensation expense, as follows:
Cost of service
$6.8 $1.0 $23.8 $2.9 
Sales and marketing
15.2 3.1 53.6 7.2 
Research and development
1.8 0.5 11.9 3.4 
General and administrative
4.6 0.9 14.9 3.6 
Total equity-based compensation expense
$28.4 $5.5 $104.2 $17.1 


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ZoomInfo Technologies Inc.
Consolidated Statements of Comprehensive Income (Loss)
(in millions; unaudited)
Three Months Ended September 30,Nine Months Ended September 30,
2020201920202019
Net income (loss)$11.1 $(12.4)$(72.7)$(72.5)
Other comprehensive income (loss), net of tax
Unrealized gain (loss) on cash flow hedges(1.5)(1.4)(11.1)(7.3)
Realized loss (gain) on settlement of cash flow hedges1.7 0.1 4.0 0.1 
Amortization of deferred losses related to the dedesignated Interest Rate Swap  3.0  
Other comprehensive income (loss)0.2 (1.3)(4.1)(7.2)
Comprehensive income (loss)11.3 (13.7)(76.8)(79.7)
Less: Net income attributable to ZoomInfo OpCo prior to the Reorganization Transactions (13.7)(12.8)(79.7)
Less: Comprehensive income (loss) attributable to noncontrolling interests6.3  (35.7) 
Comprehensive income (loss) attributable to ZoomInfo Technologies Inc.$5.0 $ $(28.3)$ 



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ZoomInfo Technologies Inc.
Consolidated Statements of Changes in Equity (Deficit)
(in millions, except share data; unaudited)
ZoomInfo Holdings LLC (Prior to Reorganization Transactions)ZoomInfo Technologies Inc. Stockholders' Equity
Members' DeficitClass A SharesClass B SharesClass C SharesClass A AmountClass B AmountClass C AmountAdditional paid-in capitalRetained EarningsAOCINoncontrolling interestsTotal Equity
Balance, December 31, 2019$(207.8)   $ $ $ $ $ $(6.0)$ $(213.8)
Net income (loss)(5.9)— — — — — — — — — — (5.9)
Member distributions(5.0)— — — — — — — — — — (5.0)
Other comprehensive income— — — — — — — — — (6.7)— (6.7)
Equity-based compensation11.3 — — — — — — — — — — 11.3 
Balance at March 31, 2020(207.4)        (12.7) (220.1)
Net income (loss) prior to Reorganization Transactions0.8 — — — — — — — — — — 0.8 
Other comprehensive loss prior to Reorganization Transactions and IPO— — — — — — — — — (1.0)— (1.0)
Member distributions prior to Reorganization Transactions(1.8)— — — — — — — — — — (1.8)
Equity-based compensation prior to Reorganization Transactions4.5 — — — — — — — — — — 4.5 
Impacts of Reorganization Transactions and IPO
Initial effect of the Reorganization Transactions and IPO on noncontrolling interests203.9 — 242,414,027 98,381,656 — 2.4 1.0 (628.1)— 8.4 412.4 — 
Issuance of Class A common stock in IPO, net of costs— 48,528,783 — — 0.5 — — 1,016.1 — — — 1,016.6 
Purchases of ZoomInfo OpCo units in connection with IPO— 2,370,948 (2,370,948)— — — — (47.2)— — — (47.2)
Purchases of Class C units in connection with IPO— 275,269 — (275,269)— — — (5.5)— — — (5.5)
Opco Units exchanged into Class A shares— 878,984 (878,984)— — — — — — — —  
Forfeitures / cancellations— (59,693)(10,882)— — — — — — — —  
Series A Preferred Unit redemption accretion— — — — — — — (74.0)— — — (74.0)
Increase in deferred tax asset from step-up in tax basis under TRA related to unit exchanges— — — — — — — 82.0 — 1.4 42.9 126.3 
Net income subsequent to Reorganization Transactions— — — — — — — — (34.4)— (44.3)(78.7)
Other comprehensive loss subsequent to Reorganization Transactions and IPO— — — — — — — — — 1.1 2.3 3.4 
Equity-based compensation subsequent to Reorganization Transactions— — — — — — — 23.1 — — 36.9 60.0 
Balance at June 30, 2020 51,994,291239,153,21398,106,3870.5 2.4 1.0 366.4 (34.4)(2.8)450.2 783.3 


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ZoomInfo Technologies Inc.
Consolidated Statements of Changes in Equity (Deficit)
(in millions, except share data; unaudited)(continued)
ZoomInfo Holdings LLC (Prior to Reorganization Transactions)ZoomInfo Technologies Inc. Stockholders' Equity
Members' DeficitClass A SharesClass B SharesClass C SharesClass A AmountClass B AmountClass C AmountAdditional paid-in capitalRetained EarningsAOCINoncontrolling interestsTotal Equity
Exchanges— 17,179,135 (10,655,101)(6,524,034)0.2 (0.1)(0.1)19.3 — (0.2)(19.1) 
Forfeitures / cancellations— — (6,511)— — — — — — — —  
Net income (loss) — — — — — — — — 4.9 — 6.2 11.1 
Other comprehensive income— — — — — — — — — 0.1 0.1 0.2 
Paid and accrued tax distributions— — — — — — — — — — (7.2)(7.2)
Equity-based compensation — — — — — — — 11.7 — — 16.7 28.4 
Tax receivable agreement adjustments— — — — — — — 4.7 — —  4.7 
Balance at September 30, 2020$ 69,173,426 228,491,601 91,582,353 $0.7 $2.3 $0.9 $402.1 $(29.5)$(2.9)$446.9 $820.5 




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ZoomInfo Technologies Inc.
Consolidated Statements of Changes in Equity (Deficit) (continued)
($ in millions; unaudited)
Members' DeficitAccumulated Other Comprehensive LossTotal Stockholders’ Equity
Balance at December 31, 2018$(119.1)$ $(119.1)
Net income (loss)(40.2)— (40.2)
Member distributions(6.1)— (6.1)
Impact of adoption of new accounting standard (ASC 842)
(1.8)— (1.8)
Equity-based compensation5.6 — 5.6 
Other comprehensive income (loss)— — — 
Balance at March 31, 2019(161.6) (161.6)
Net income (loss)(19.9)— (19.9)
Member distributions(7.3)— (7.3)
Repurchase outstanding equity / member units(11.9)— (11.9)
Equity-based compensation5.9 — 5.9 
Other comprehensive income (loss)— (5.9)(5.9)
Balance at June 30, 2019(194.8)(5.9)(200.7)
Net income (loss)(12.4)— (12.4)
Member distributions(3.1)— (3.1)
Repurchase outstanding equity / member units(5.2)— (5.2)
Equity-based compensation5.5 — 5.5 
Other comprehensive income (loss)— (1.3)(1.3)
Balance at September 30, 2019$(210.0)$(7.2)$(217.2)


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ZoomInfo Technologies Inc.
Consolidated Statements of Cash Flows
(in millions; unaudited)
Nine Months Ended September 30,
20202019
Cash flows from operating activities:
Net income (loss)$(72.7)$(72.5)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization37.0 36.7 
Amortization of debt discounts and issuance costs3.2 3.6 
Amortization of deferred commissions costs17.5 4.5 
Loss on early extinguishment of debt14.9 9.4 
Deferred consideration valuation adjustments1.2 1.0 
Equity-based compensation expense104.2 17.1 
Deferred income taxes4.5 (6.1)
Tax receivable agreement remeasurement(3.9) 
Provision for bad debt expense1.1 0.4 
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable(4.6)(7.4)
Prepaid expenses and other current assets(2.7)(1.3)
Deferred costs and other assets(22.3)(13.2)
Income tax receivable(0.2)(1.9)
Accounts payable1.8 4.7 
Accrued expenses and other liabilities6.9 6.2 
Unearned revenue16.8 46.2 
Net cash provided by (used in) operating activities102.7 27.4 
Cash flows from investing activities:
Purchases of property and equipment and other assets(11.8)(9.3)
Cash paid for acquisitions, net of cash acquired (714.9)
Net cash provided by (used in) investing activities(11.8)(724.2)
Cash flows from financing activities:
Payments of deferred consideration(24.7)(0.3)
Proceeds from debt35.0 1,220.8 
Repayment of debt(510.9)(647.6)
Payments of debt issuance costs(1.0)(16.7)
Repurchase outstanding equity / member units(332.4)(11.9)
Proceeds from equity offering, net of underwriting discounts1,023.7 200.2 
Payments of IPO issuance costs(7.2) 
Tax distributions(9.9)(16.5)
Net cash provided by (used in) financing activities172.6 728.0 
Net increase (decrease) in cash, cash equivalents, and restricted cash263.5 31.2 
Cash, cash equivalents, and restricted cash at beginning of period42.5 9.0 
Cash, cash equivalents, and restricted cash at end of period$306.0 $40.2 
Supplemental disclosures of cash flow information
Interest paid in cash$56.8 $70.7 
Cash paid for taxes$0.8 $ 
Supplemental disclosures of non-cash investing and financing activities:
Deferred variable consideration from acquisition of a business$ $33.2 



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ZoomInfo Technologies Inc.
Notes to Unaudited Consolidated Financial Statements (Unaudited)
(In millions, except share/unit data and per share/unit amounts, unless otherwise noted)


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Note 1 - Organization and Background
Business
ZoomInfo Technologies Inc. through its operating subsidiaries provides a go-to-market intelligence platform for sales and marketing teams. The Company’s cloud-based platform provides accurate and comprehensive information on organizations and professionals in order to help users identify target customers and decision makers, obtain continually updated predictive lead and company scoring, monitor buying signals and other attributes of target companies, craft messages, engage via automated sales tools, and track progress through the deal cycle. Unless otherwise indicated or the context otherwise requires, references to “we,” “us,” “our,” “ZoomInfo,” and the “Company” refer (1) prior to the consummation of the Reorganization Transactions, to ZoomInfo OpCo and its consolidated subsidiaries, and (2) after the consummation of the Reorganization Transactions, to ZoomInfo Technologies Inc. and its consolidated subsidiaries.
Organization
ZoomInfo Technologies Inc. was formed on November 14, 2019 with no operating assets or operations as a Delaware corporation for the purposes of facilitating an initial public offering (“IPO”) and other related transactions in order to carry on the business of Zoom