0001837686-24-000110 | 10-Q | XBRL Viewer

EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2024

Vimeo common stock and Class B common stock are treated as one class of common stock for earnings per share ("EPS") purposes as both classes of common stock participate in earnings, dividends and other distributions on the same basis. Vimeo calculates basic EPS using the two-class method since the Vimeo Restricted Shares are participating securities as they are unvested and have a non-forfeitable dividend right in the event the Company declares a cash dividend to common shareholders and participates in all other distributions of the Company in the same manner as all other Vimeo common shareholders. Diluted EPS is calculated, on the most dilutive basis, which excludes equity awards that would be anti-dilutive.

The computation of basic and diluted earnings per share attributable to common shareholders is as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(In thousands, except per share data)
Basic EPS:
Numerator:
Net earnings	$	9,282	$	8,464	$	25,476	$	13,637
Less: Net earnings attributed to participating security	(182)		(164)		(494)		(304)
Net earnings attributable to common stock shareholders	$	9,100	$	8,300	$	24,982	$	13,333
Denominator: (a)
Weighted average basic common shares outstanding	162,686		163,877		164,332		162,822

Basic earnings per share	$	0.06	$	0.05	$	0.15	$	0.08

Diluted EPS:
Numerator:
Net earnings	$	9,282	$	8,464	$	25,476	$	13,637
Less: Net earnings attributed to participating security	(176)		(162)		(481)		(301)
Net earnings attributable to common stock shareholders	$	9,106	$	8,302	$	24,995	$	13,336
Denominator: (a)
Weighted average basic common shares outstanding	162,686		163,877		164,332		162,822
Dilutive securities	5,664		2,029		4,327		2,098
Weighted average diluted common shares outstanding	168,350		165,906		168,659		164,920

Antidilutive securities	11,589		20,059		12,790		22,674

Diluted earnings per share	$	0.05	$	0.05	$	0.15	$	0.08

_____________________

(a) Vimeo Restricted Shares were included in shares of common stock issued and outstanding at September 30, 2024 and December 31, 2023 in the accompanying consolidated balance sheet, but were excluded from the computation of average basic common shares outstanding for EPS purposes because the number of shares that ultimately vest is subject to the satisfaction of certain market-based conditions.

FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

Vimeo's financial instruments that are measured at fair value on a recurring basis are as follows:


	September 30, 2024
	Quoted Market Prices for Identical Assets in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value Measurements
	(In thousands)

Money market funds	$	293,985	$	—	$	—	$	293,985
Time deposits	—		6,872		—		6,872
Total	$	293,985	$	6,872	$	—	$	300,857


	December 31, 2023
	Quoted Market Prices for Identical Assets in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value Measurements
	(In thousands)

Money market funds	$	274,212	$	—	$	—	$	274,212
Time deposits	—		6,098		—		6,098
Total	$	274,212	$	6,098	$	—	$	280,310

Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The changes in the Company's financial instruments that are measured at fair value on a recurring basis using significant unobservable inputs (Level 3) are as follows and solely relate to the Company's contingent consideration arrangements, which were finalized and paid in 2023 (as described below):


	Three Months Ended September 30,		Nine Months Ended September 30,
	2023		2023
	(In thousands)
Balance at beginning of period	$	2,977	$	7,845

Total net gains:
Included in operating income	(500)		(396)

Settlements	(2,477)		(7,449)
Balance at end of period	$	—	$	—

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock Common Stock	Common Stock Class B common stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss	Treasury Stock
Balance at beginning of period at Dec. 31, 2022	$ 353,858	$ 1,572	$ 94	$ 768,390	$ (415,367)	$ (831)
Balance at beginning of period (in shares) at Dec. 31, 2022		157,187	9,399
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	13,637				13,637
Other comprehensive income (loss)	(425)					(425)
Stock-based compensation expense	5,429			5,429
Amounts related to settlement of equity awards	(5,779)	$ 23		(5,802)
Amounts related to settlement of equity awards (in shares)		2,365
Restricted Stock Award	0	$ (16)		16
Restricted Stock Award (in shares)		(1,624)
Balance at end of period at Sep. 30, 2023	366,720	$ 1,579	$ 94	768,033	(401,730)	(1,256)
Balance at end of period (in shares) at Sep. 30, 2023		157,928	9,399
Balance at beginning of period at Jun. 30, 2023	352,893	$ 1,574	$ 94	762,000	(410,194)	(581)
Balance at beginning of period (in shares) at Jun. 30, 2023		157,439	9,399
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	8,464				8,464
Other comprehensive income (loss)	(675)					(675)
Stock-based compensation expense	7,122			7,122
Amounts related to settlement of equity awards	(1,084)	$ 5		(1,089)
Amounts related to settlement of equity awards (in shares)		489
Balance at end of period at Sep. 30, 2023	366,720	$ 1,579	$ 94	768,033	(401,730)	(1,256)
Balance at end of period (in shares) at Sep. 30, 2023		157,928	9,399
Balance at beginning of period at Dec. 31, 2023	382,232	$ 1,585	$ 94	774,587	(393,335)	(699)	$ 0
Balance at beginning of period (in shares) at Dec. 31, 2023		158,511	9,399
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	25,476				25,476
Other comprehensive income (loss)	56					56
Stock-based compensation expense	23,620			23,620
Amounts related to settlement of equity awards	(5,161)	$ 24		(5,185)
Amounts related to settlement of equity awards (in shares)		2,383
Purchase of treasury stock	(16,812)						(16,812)
Balance at end of period at Sep. 30, 2024	409,411	$ 1,609	$ 94	793,022	(367,859)	(643)	(16,812)
Balance at end of period (in shares) at Sep. 30, 2024		160,894	9,399
Balance at beginning of period at Jun. 30, 2024	397,892	$ 1,603	$ 94	786,044	(377,141)	(937)	(11,771)
Balance at beginning of period (in shares) at Jun. 30, 2024		160,265	9,399
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	9,282				9,282
Other comprehensive income (loss)	294					294
Stock-based compensation expense	8,268			8,268
Amounts related to settlement of equity awards	(1,284)	$ 6		(1,290)
Amounts related to settlement of equity awards (in shares)		629
Purchase of treasury stock	(5,041)						(5,041)
Balance at end of period at Sep. 30, 2024	$ 409,411	$ 1,609	$ 94	$ 793,022	$ (367,859)	$ (643)	$ (16,812)
Balance at end of period (in shares) at Sep. 30, 2024		160,894	9,399

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

FAIR VALUE MEASUREMENTS - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Total	$ 300,857	$ 280,310
Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Total	293,985	274,212
Significant Other Observable Inputs (Level 2)
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Total	6,872	6,098
Significant Unobservable Inputs (Level 3)
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Total	0	0
Money market funds
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Total	293,985	274,212
Money market funds \| Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Total	293,985	274,212
Money market funds \| Significant Other Observable Inputs (Level 2)
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Total	0	0
Money market funds \| Significant Unobservable Inputs (Level 3)
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Total	0	0
Time deposits
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Total	6,872	6,098
Time deposits \| Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Total	0	0
Time deposits \| Significant Other Observable Inputs (Level 2)
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Total	6,872	6,098
Time deposits \| Significant Unobservable Inputs (Level 3)
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Total	$ 0	$ 0

RELATED PARTY TRANSACTIONS	9 Months Ended
RELATED PARTY TRANSACTIONS	Sep. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONSVimeo has entered into various sublease agreements with a subsidiary of Angi Inc., an indirect subsidiary of IAC, whereby Vimeo agreed to sublease a portion of the 5th floor and the entire 10th floor at 330 West 34th Street ("West 34th Street Sublease") in New York City, both through April 2028. At September 30, 2024 and December 31, 2023, Vimeo had a current lease liability of $2.6 million and $2.3 million included in "Accrued expenses and other current liabilities," respectively, and a non-current lease liability of $8.7 million and $10.7 million included in "Other long-term liabilities," respectively, related to the West 34th Street Sublease in the accompanying consolidated balance sheet. Rent expense for the three and nine months ended September 30, 2024 and 2023 were both $0.9 million and $2.6 million, respectively.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

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+ Details

FINANCIAL STATEMENT DETAILS - Schedule of Changes in Allowance for Credit Losses (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 2,728	$ 5,183
Provision for credit losses	344	326
Write-offs charged against the allowance	(1,519)	(3,683)
Recoveries collected	570	800
Currency translation adjustment	(1)	5
Balance at end of period	$ 2,122	$ 2,631

ACCUMULATED OTHER COMPREHENSIVE LOSS

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS

Accumulated other comprehensive loss consisting of foreign currency translation adjustments is as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(In thousands)
Balance at beginning of period	$	(937)	$	(581)	$	(699)	$	(831)
Other comprehensive income (loss)	294		(675)		56		(425)
Balance at end of period	$	(643)	$	(1,256)	$	(643)	$	(1,256)

At both September 30, 2024 and 2023, there was no tax benefit or provision on accumulated other comprehensive loss.

REVENUE - Schedule of Current and Non-current Balances of Deferred Revenue (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 163,304	$ 168,610
Other long-term liabilities	$ 901	$ 1,216

FINANCIAL STATEMENT DETAILS (Tables)

9 Months Ended

Sep. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Cash and Cash Equivalents

The reconciliation of cash and cash equivalents and restricted cash reported within the accompanying consolidated balance sheet to the total amounts shown in the accompanying consolidated statement of cash flows is as follows:


	September 30, 2024		December 31, 2023		September 30, 2023		December 31, 2022
	(In thousands)
Cash and cash equivalents	$	324,781	$	301,372	$	290,564	$	274,497
Restricted cash included in Prepaid expenses and other current assets	240		64		327		337
Total cash and cash equivalents and restricted cash as shown in the accompanying consolidated statement of cash flows	$	325,021	$	301,436	$	290,891	$	274,834

Schedule of Restricted Cash


	September 30, 2024		December 31, 2023		September 30, 2023		December 31, 2022
	(In thousands)
Cash and cash equivalents	$	324,781	$	301,372	$	290,564	$	274,497
Restricted cash included in Prepaid expenses and other current assets	240		64		327		337
Total cash and cash equivalents and restricted cash as shown in the accompanying consolidated statement of cash flows	$	325,021	$	301,436	$	290,891	$	274,834

Schedule of Changes in Allowance for Credit Losses

The changes in the allowance for credit losses are as follows:


	Nine Months Ended September 30,
	2024		2023
	(In thousands)
Balance at beginning of period	$	2,728	$	5,183
Provision for credit losses	344		326
Write-offs charged against the allowance	(1,519)		(3,683)
Recoveries collected	570		800
Currency translation adjustment	(1)		5
Balance at end of period	$	2,122	$	2,631

Schedule of Accumulated Depreciation and Amortization

Accumulated amortization and depreciation within the accompanying consolidated balance sheet are as follows:


Asset Category	September 30, 2024		December 31, 2023
	(In thousands)
ROU assets included in Other non-current assets	$	17,846	$	14,536
Leasehold improvements and equipment	$	521	$	704
Intangible assets with definite lives	$	48,673	$	47,631

Schedule of Other Income, Net

The components of "Other income, net" are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(In thousands)
Interest income	3,827		3,349		$	11,258	$	9,027
Foreign exchange (losses) gains, net	$	(212)	$	308	54		245
Loss on the sale of an asset	—		—		—		(37)

Other income, net	$	3,615	$	3,657	$	11,312	$	9,235

Schedule of Revenue and Long-lived Assets by Geographic Area

Revenue by geography is based on where the customer is located. The United States was the only country from which revenue constituted greater than 10% of total revenue of the Company for the three and nine months ended September 30, 2024 and 2023.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(In thousands)
Revenue:
United States	$	56,705	$	57,272	$	170,930	$	166,171
All other countries	47,859		48,981		142,920		145,499
Total	$	104,564	$	106,253	$	313,850	$	311,670

Long-lived assets, excluding goodwill, intangible assets with definite lives and ROU assets, at September 30, 2024 and December 31, 2023 relate to "Leasehold improvements and equipment, net."


	September 30, 2024		December 31, 2023
	(In thousands)
Leasehold improvements and equipment, net:
United States	$	325	$	492
All other countries	123		115
Total	$	448	$	607

ORGANIZATION AND BASIS OF PRESENTATION	9 Months Ended
ORGANIZATION AND BASIS OF PRESENTATION	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	ORGANIZATION AND BASIS OF PRESENTATION Description of Business Vimeo is the world's leading all-in-one video software solution, providing the full breadth of video tools through a software-as-a-service model. Vimeo's comprehensive and cloud-based tools empower its users to create, collaborate and communicate with video on a single, turnkey platform. As used herein, "Vimeo," the "Company," "we," "our" or "us" and similar terms in these consolidated financial statements refer to Vimeo, Inc. and its subsidiaries (unless the context requires otherwise). Basis of Presentation and Consolidation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") and with the rules and regulations of the Securities and Exchange Commission ("SEC"). Accordingly, they do not include all of the information and notes required by GAAP for complete annual financial statements. In the opinion of management, the accompanying unaudited interim consolidated financial statements include all adjustments considered necessary for a fair presentation. Interim results are not necessarily indicative of the results that may be expected for the full year. The information included in this Form 10-Q should be read in conjunction with the audited annual consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. All intercompany balances and transactions between and among Vimeo and its subsidiaries have been eliminated. All related party balances between Vimeo and IAC/InterActiveCorp ("IAC") and its subsidiaries are reflected in the accompanying consolidated balance sheet within "Accrued expenses and other current liabilities" and "Other long-term liabilities." All related party transactions between Vimeo and IAC and its subsidiaries, other than amounts related to the settlement of equity awards, are reflected in the accompanying consolidated statement of cash flows as operating activities. Amounts related to the settlement of equity awards are reflected in the accompanying consolidated statement of cash flows as financing activities. Accounting Estimates Management of Vimeo is required to make certain estimates, judgments and assumptions during the preparation of its consolidated financial statements in accordance with GAAP that affect the amounts reported in the accompanying consolidated financial statements and footnotes thereto. Actual results could differ from these estimates. Significant estimates and judgments inherent in the preparation of the accompanying consolidated financial statements include those related to: the carrying value of accounts receivable, including the determination of the allowance for credit losses; the determination of the estimated customer relationship period for certain costs to obtain a contract with a customer; the carrying value of right-of-use assets ("ROU assets") and related lease liabilities; the useful lives and recoverability of intangible assets with definite lives; the recoverability of goodwill; contingencies; unrecognized tax benefits; the valuation allowance for deferred income tax assets; and the accounting for stock-based compensation expense, among others. Vimeo bases its estimates, judgments and assumptions on historical experience, its forecasts and budgets and other factors that Vimeo considers relevant. Recent Accounting Pronouncements Not Yet Adopted by the Company In November 2023, Accounting Standards Update ("ASU") 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures was issued, which amended existing guidance to require disclosure of significant segment expenses and other segment items on an annual and interim basis and to provide in interim periods all disclosures about a reportable segment's profit or loss and assets that are currently required annually. These amendments are effective on a retrospective basis for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements. In December 2023, ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures was issued, and requires disclosure of disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. This guidance will become effective for fiscal years beginning after December 15, 2024 on a prospective basis. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements.

FINANCIAL STATEMENT DETAILS - Schedule of Revenue and Long-lived Assets by Geographic Area (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Leasehold improvements and equipment, net	$ 448	$ 607
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Leasehold improvements and equipment, net	325	492
All other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Leasehold improvements and equipment, net	$ 123	$ 115

FAIR VALUE MEASUREMENTS - Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation (Details) - Contingent Consideration Liability - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Contingent Consideration Arrangements
Balance at beginning of period	$ 2,977	$ 7,845
Total net gains:
Included in operating income	(500)	(396)
Settlements	(2,477)	(7,449)
Balance at end of period	$ 0	$ 0

FINANCIAL STATEMENT DETAILS - Schedule of Accumulated Amortization and Depreciation (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ROU assets included in Other non-current assets	$ 17,846	$ 14,536
Leasehold improvements and equipment	521	704
Intangible assets with definite lives	$ 48,673	$ 47,631

RESTRUCTURING (Tables)

9 Months Ended

Sep. 30, 2024

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Costs Recognized in Consolidated Statement of Operations

Costs related to these restructuring plans have been recognized in the accompanying consolidated statement of operations as follows:


	Nine Months Ended September 30,
		2024		2023
		(In thousands)
Restructuring costs:
Cost of revenue		$	88	$	298
Research and development expense		116		2,813
Sales and marketing expense		1,104		1,078
General and administrative expense		897		699
Total		$	2,205	$	4,888

FAIR VALUE MEASUREMENTS

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

Vimeo's financial instruments that are measured at fair value on a recurring basis are as follows:


	September 30, 2024
	Quoted Market Prices for Identical Assets in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value Measurements
	(In thousands)

Money market funds	$	293,985	$	—	$	—	$	293,985
Time deposits	—		6,872		—		6,872
Total	$	293,985	$	6,872	$	—	$	300,857


	December 31, 2023
	Quoted Market Prices for Identical Assets in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value Measurements
	(In thousands)

Money market funds	$	274,212	$	—	$	—	$	274,212
Time deposits	—		6,098		—		6,098
Total	$	274,212	$	6,098	$	—	$	280,310

Money market funds and time deposits are included in "Cash and cash equivalents" in the accompanying consolidated balance sheet.

Vimeo's non-financial assets (which consist primarily of goodwill, ROU assets, and intangible assets with definite lives) are adjusted to fair value only if an impairment is recognized. Such fair value measurements are based predominantly on Level 3 inputs.


	Three Months Ended September 30,		Nine Months Ended September 30,
	2023		2023
	(In thousands)
Balance at beginning of period	$	2,977	$	7,845

Total net gains:
Included in operating income	(500)		(396)

Settlements	(2,477)		(7,449)
Balance at end of period	$	—	$	—

Contingent Consideration Arrangements

The aggregate purchase price of the Company's 2021 acquisitions of WIREWAX Ltd. ("WIREWAX") and Wibbitz Ltd. ("Wibbitz") consisted of cash consideration and contingent consideration, based on a combination of certain financial metrics and integration milestones.

In the first quarter of 2023, the contingent consideration arrangement for WIREWAX was finalized and resulted in a payment of $5.0 million to WIREWAX's former shareholders and a $0.1 million loss that was recorded within "General and administrative expense" in the accompanying consolidated statement of operations. In the accompanying consolidated statement of cash flows, the final $5.0 million payment is included in "Contingent consideration payment" within financing activities and "Accounts payable and other liabilities" within operating activities for $3.3 million and $1.7 million, respectively.

In the third quarter of 2023, the contingent consideration arrangement for Wibbitz was finalized and the Company paid $2.5 million to Wibbitz's former shareholders.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

REVENUE - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
REVENUE - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Deferred revenue recognized during period			$ 155.9	$ 155.2
United States \| Revenue Benchmark \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk, percent (greater than)	10.00%	10.00%	10.00%	10.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

RESTRUCTURING - Schedule of Restructuring Costs Recognized in Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 2,205	$ 4,888
Cost of revenue
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 88	$ 298
Restructuring, incurred cost, statement of income or comprehensive income	Cost of revenue (exclusive of depreciation shown separately below)	Cost of revenue (exclusive of depreciation shown separately below)
Research and development expense
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 116	$ 2,813
Restructuring, incurred cost, statement of income or comprehensive income	Research and development expense	Research and development expense
Sales and marketing expense
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 1,104	$ 1,078
Restructuring, incurred cost, statement of income or comprehensive income	Sales and marketing expense	Sales and marketing expense
General and administrative expense
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 897	$ 699
Restructuring, incurred cost, statement of income or comprehensive income	General and administrative expense	General and administrative expense

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

ORGANIZATION AND BASIS OF PRESENTATION (Policies)	9 Months Ended
ORGANIZATION AND BASIS OF PRESENTATION (Policies)	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Vimeo is the world's leading all-in-one video software solution, providing the full breadth of video tools through a software-as-a-service model. Vimeo's comprehensive and cloud-based tools empower its users to create, collaborate and communicate with video on a single, turnkey platform. As used herein, "Vimeo," the "Company," "we," "our" or "us" and similar terms in these consolidated financial statements refer to Vimeo, Inc. and its subsidiaries (unless the context requires otherwise).
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") and with the rules and regulations of the Securities and Exchange Commission ("SEC"). Accordingly, they do not include all of the information and notes required by GAAP for complete annual financial statements. In the opinion of management, the accompanying unaudited interim consolidated financial statements include all adjustments considered necessary for a fair presentation. Interim results are not necessarily indicative of the results that may be expected for the full year. The information included in this Form 10-Q should be read in conjunction with the audited annual consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. All intercompany balances and transactions between and among Vimeo and its subsidiaries have been eliminated. All related party balances between Vimeo and IAC/InterActiveCorp ("IAC") and its subsidiaries are reflected in the accompanying consolidated balance sheet within "Accrued expenses and other current liabilities" and "Other long-term liabilities." All related party transactions between Vimeo and IAC and its subsidiaries, other than amounts related to the settlement of equity awards, are reflected in the accompanying consolidated statement of cash flows as operating activities. Amounts related to the settlement of equity awards are reflected in the accompanying consolidated statement of cash flows as financing activities.
Accounting Estimates	Accounting Estimates Management of Vimeo is required to make certain estimates, judgments and assumptions during the preparation of its consolidated financial statements in accordance with GAAP that affect the amounts reported in the accompanying consolidated financial statements and footnotes thereto. Actual results could differ from these estimates. Significant estimates and judgments inherent in the preparation of the accompanying consolidated financial statements include those related to: the carrying value of accounts receivable, including the determination of the allowance for credit losses; the determination of the estimated customer relationship period for certain costs to obtain a contract with a customer; the carrying value of right-of-use assets ("ROU assets") and related lease liabilities; the useful lives and recoverability of intangible assets with definite lives; the recoverability of goodwill; contingencies; unrecognized tax benefits; the valuation allowance for deferred income tax assets; and the accounting for stock-based compensation expense, among others. Vimeo bases its estimates, judgments and assumptions on historical experience, its forecasts and budgets and other factors that Vimeo considers relevant.
Recent Accounting Pronouncements Not Yet Adopted by the Company	Recent Accounting Pronouncements Not Yet Adopted by the Company In November 2023, Accounting Standards Update ("ASU") 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures was issued, which amended existing guidance to require disclosure of significant segment expenses and other segment items on an annual and interim basis and to provide in interim periods all disclosures about a reportable segment's profit or loss and assets that are currently required annually. These amendments are effective on a retrospective basis for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements. In December 2023, ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures was issued, and requires disclosure of disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. This guidance will become effective for fiscal years beginning after December 15, 2024 on a prospective basis. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements.
Revenue Recognition	Revenue Recognition Vimeo's revenue is derived primarily from fixed SaaS subscription fees paid by customers. Subscription periods generally range from one month to three years, with the most common being an annual subscription, and are generally non-cancellable. Vimeo accounts for a contract with a customer when it has approval and commitment from all parties, the rights of the parties and payment terms are identified, the contract has commercial substance and collectability of consideration is probable. The transaction price, which generally reflects the fixed SaaS subscription fees listed in the terms of the contract, is the amount of consideration Vimeo expects to be entitled to in exchange for access to the Vimeo platform. The transaction price is recognized as revenue on a straight-line basis over the contractual term of the arrangement beginning on the date access is provided to the Vimeo platform, which is considered to be a series of distinct services that comprise a single performance obligation and have the same pattern of transfer over the contractual term. All taxes assessed by governmental authorities that are both (i) imposed on and concurrent with a specific revenue-producing transaction and (ii) collected from customers are excluded from the measurement of the transaction price, and accordingly, not included as a component of revenue or cost of revenue. For contracts that have an original duration of one year or less, Vimeo does not consider the time value of money applicable to such contracts. Estimates of variable consideration are not significant. Deferred Revenue Deferred revenue consists of payments that are received or are contractually due in advance of Vimeo's performance. Vimeo's deferred revenue is reported on a contract by contract basis at the end of each reporting period. Vimeo classifies deferred revenue as current when the term of the applicable subscription period or expected completion of its performance obligation is one year or less. Costs to Obtain a Contract with a Customer Vimeo has determined that commissions paid to employees pursuant to certain sales incentive programs meet the requirements to be capitalized as a cost of obtaining a contract with a customer. Commissions paid to employees pursuant to certain sales incentive programs are amortized over the estimated customer relationship period. Vimeo calculates the estimated customer relationship period as the average customer life, which is based on historical data. When customer renewals are expected and the renewal commission is not commensurate with the initial commission, the average customer life includes renewal periods. Vimeo has elected the practical expedient to expense costs to obtain a contract with a customer as incurred when the customer relationship period is one year or less.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

CONSOLIDATED BALANCE SHEET (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Preferred stock, par value (USD per share)	$ 0.01	$ 0.01
Preferred stock authorized (in shares)	100,000,000	100,000,000
Preferred stock issued (in shares)	0	0
Preferred stock outstanding (in shares)	0	0
Treasury stock (in shares)	4,352,000	0
Common Stock
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock authorized (in shares)	1,600,000,000	1,600,000,000
Common stock issued (in shares)	160,894,000	158,511,000
Common stock outstanding (in shares)	156,542,000	158,511,000
Class B common stock
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock authorized (in shares)	400,000,000	400,000,000
Common stock issued (in shares)	9,399,000	9,399,000
Common stock outstanding (in shares)	9,399,000	9,399,000

CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue	$ 104,564	$ 106,253	$ 313,850	$ 311,670
Cost of revenue (exclusive of depreciation shown separately below)	21,708	21,802	67,829	68,319
Gross profit	82,856	84,451	246,021	243,351
Operating expenses:
Research and development expense	26,588	23,153	81,695	81,089
Sales and marketing expense	28,799	36,704	88,780	116,455
General and administrative expense	19,655	18,396	56,776	34,645
Depreciation	102	168	313	1,198
Amortization of intangibles	347	347	1,042	2,491
Total operating expenses	75,491	78,768	228,606	235,878
Operating income	7,365	5,683	17,415	7,473
Interest expense	0	0	0	(998)
Other income, net	3,615	3,657	11,312	9,235
Earnings before income taxes	10,980	9,340	28,727	15,710
Income tax provision	(1,698)	(876)	(3,251)	(2,073)
Net earnings	$ 9,282	$ 8,464	$ 25,476	$ 13,637
Per share information:
Basic earnings per share (USD per share)	$ 0.06	$ 0.05	$ 0.15	$ 0.08
Diluted earnings per share (USD per share)	$ 0.05	$ 0.05	$ 0.15	$ 0.08
Stock-based compensation expense by function:
Total stock-based compensation expense	$ 8,268	$ 7,122	$ 23,620	$ 5,429
Cost of revenue
Stock-based compensation expense by function:
Total stock-based compensation expense	220	271	565	740
Research and development expense
Stock-based compensation expense by function:
Total stock-based compensation expense	2,791	2,149	10,509	11,650
Sales and marketing expense
Stock-based compensation expense by function:
Total stock-based compensation expense	1,521	1,723	4,166	7,376
General and administrative expense
Stock-based compensation expense by function:
Total stock-based compensation expense	$ 3,736	$ 2,979	$ 8,380	$ (14,337)

RESTRUCTURING - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Reduction of workforce (as a percent)	4.00%	11.00%
Cost incurred for one-time termination benefits			$ 2,205	$ 4,888

REVENUE - Schedule of Current and Non-current Contract Asset Balances (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Prepaid expenses and other current assets	$ 5,236	$ 5,099
Other non-current assets	$ 8,180	$ 8,263

SHAREHOLDERS' EQUITY (Details)	1 Months Ended	3 Months Ended	9 Months Ended
SHAREHOLDERS' EQUITY (Details)	Oct. 31, 2024 USD ($) $ / shares shares	Sep. 30, 2024 USD ($) shares	Sep. 30, 2024 USD ($) vote $ / shares shares	Sep. 30, 2023 shares	Dec. 31, 2023 shares	Feb. 25, 2022 USD ($)	May 25, 2021 shares
Shareholders' Equity [Line Items]
Stock repurchase, authorized amount (up to) \| $						$ 50,000,000
Number of shares repurchased (in shares)			4,400,000	0
Average cost (USD per share) \| $ / shares			$ 3.86
Purchase of treasury stock \| $		$ 5,041,000	$ 16,812,000
Subsequent Event
Shareholders' Equity [Line Items]
Number of shares repurchased (in shares)	400,000
Average cost (USD per share) \| $ / shares	$ 4.87
Purchase of treasury stock \| $	$ 2,000,000.0
Authorized purchase of remaining common stock \| $	$ 31,300,000
Director \| Restricted Stock \| Restricted Stock Agreement
Shareholders' Equity [Line Items]
Shares authorized for issuance (in shares)		3,247,000	3,247,000		3,247,000
Common Stock
Shareholders' Equity [Line Items]
Percentage of directors that can be elected by holders of vimeo common stock			0.25
Votes per each share of stock \| vote			1
Common stock authorized (in shares)		1,600,000,000	1,600,000,000		1,600,000,000		1,600,000,000
Class B common stock
Shareholders' Equity [Line Items]
Votes per each share of stock \| vote			10
Common stock authorized (in shares)		400,000,000	400,000,000		400,000,000		400,000,000

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2024	Oct. 31, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-40420
Entity Registrant Name	VIMEO, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-4334195
Entity Address, Address Line One	330 West 34th Street
Entity Address, Address Line Two	5th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10001
City Area Code	212
Local Phone Number	524-8791
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	VMEO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001837686
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		156,451,664
Class B common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		9,399,250

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net earnings	$ 9,282	$ 8,464	$ 25,476	$ 13,637

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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+ Details

FINANCIAL STATEMENT DETAILS

9 Months Ended

Sep. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

FINANCIAL STATEMENT DETAILS

Cash and Cash Equivalents and Restricted Cash


	September 30, 2024		December 31, 2023		September 30, 2023		December 31, 2022
	(In thousands)
Cash and cash equivalents	$	324,781	$	301,372	$	290,564	$	274,497
Restricted cash included in Prepaid expenses and other current assets	240		64		327		337
Total cash and cash equivalents and restricted cash as shown in the accompanying consolidated statement of cash flows	$	325,021	$	301,436	$	290,891	$	274,834

Restricted cash at September 30, 2024, September 30, 2023, and December 31, 2022 primarily consisted of deposits related to a lease and corporate credit cards.

Restricted cash at December 31, 2023 primarily consisted of a deposit related to corporate credit cards.

Credit Losses

The changes in the allowance for credit losses are as follows:


	Nine Months Ended September 30,
	2024		2023
	(In thousands)
Balance at beginning of period	$	2,728	$	5,183
Provision for credit losses	344		326
Write-offs charged against the allowance	(1,519)		(3,683)
Recoveries collected	570		800
Currency translation adjustment	(1)		5
Balance at end of period	$	2,122	$	2,631

Accumulated Amortization and Depreciation

Accumulated amortization and depreciation within the accompanying consolidated balance sheet are as follows:


Asset Category	September 30, 2024		December 31, 2023
	(In thousands)
ROU assets included in Other non-current assets	$	17,846	$	14,536
Leasehold improvements and equipment	$	521	$	704
Intangible assets with definite lives	$	48,673	$	47,631

Other income, net

The components of "Other income, net" are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(In thousands)
Interest income	3,827		3,349		$	11,258	$	9,027
Foreign exchange (losses) gains, net	$	(212)	$	308	54		245
Loss on the sale of an asset	—		—		—		(37)

Other income, net	$	3,615	$	3,657	$	11,312	$	9,235

Geographic Concentrations

Long-lived assets, excluding goodwill, intangible assets with definite lives and ROU assets, at September 30, 2024 and December 31, 2023 relate to "Leasehold improvements and equipment, net."


	September 30, 2024		December 31, 2023
	(In thousands)
Leasehold improvements and equipment, net:
United States	$	325	$	492
All other countries	123		115
Total	$	448	$	607

REVENUE (Tables)

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

Disaggregated revenue is as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(In thousands)
Revenue:
Self-Serve & Add-Ons	$	67,864	$	71,935	$	206,341	$	214,358
Vimeo Enterprise	21,675		15,220		60,193		39,691
Other	15,025		19,098		47,316		57,621
Total	$	104,564	$	106,253	$	313,850	$	311,670

Schedule of Revenue and Long-lived Assets by Geographic Area


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(In thousands)
Revenue:
United States	$	56,705	$	57,272	$	170,930	$	166,171
All other countries	47,859		48,981		142,920		145,499
Total	$	104,564	$	106,253	$	313,850	$	311,670

Long-lived assets, excluding goodwill, intangible assets with definite lives and ROU assets, at September 30, 2024 and December 31, 2023 relate to "Leasehold improvements and equipment, net."


	September 30, 2024		December 31, 2023
	(In thousands)
Leasehold improvements and equipment, net:
United States	$	325	$	492
All other countries	123		115
Total	$	448	$	607

Schedule of Current and Non-current Balances of Deferred Revenue and Contract Asset

The current and non-current deferred revenue balances are included in the accompanying consolidated balance sheet as follows:


	September 30, 2024		December 31, 2023
	(In thousands)
Deferred revenue	$	163,304	$	168,610
Other long-term liabilities	901		1,216

The current and non-current balances of capitalized costs to obtain a contract with a customer are included in the accompanying consolidated balance sheet as follows:


	September 30, 2024		December 31, 2023
	(In thousands)
Prepaid expenses and other current assets	$	5,236	$	5,099
Other non-current assets	8,180		8,263

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Common Stock
Common stock, par value (USD per share)	$ 0.01	$ 0.01	$ 0.01
Class B common stock
Common stock, par value (USD per share)	$ 0.01	$ 0.01	$ 0.01

CONTINGENCIES (Details)						1 Months Ended		72 Months Ended
CONTINGENCIES (Details)	Oct. 12, 2023 EUR (€)	Jun. 01, 2023 EUR (€)	Jun. 02, 2019 EUR (€)	Jan. 15, 2019 EUR (€)	Sep. 18, 2013 video	Mar. 31, 2021 EUR (€)	Dec. 31, 2009 lawsuit video	Dec. 31, 2017 lawsuit	Sep. 30, 2024 lawsuit
EMI/Capitol Records Copyright Infringement Litigation
Contingencies [Line Items]
Number of lawsuits \| lawsuit							2
Number of videos					199		199
EMI/Capitol Records Copyright Infringement Litigation \| Partial Summary Judgement
Contingencies [Line Items]
Number of videos					144
EMI/Capitol Records Copyright Infringement Litigation \| Denied Summary Judgement
Contingencies [Line Items]
Number of videos					35
EMI/Capitol Records Copyright Infringement Litigation \| Judicial Ruling
Contingencies [Line Items]
Number of videos					20
Amended number of videos					1,500
RTI Copyright Litigation
Contingencies [Line Items]
Number of lawsuits \| lawsuit								4
Damages awarded, value \| €	€ 3,865,161	€ 8,500,000	€ 4,746,273	€ 8,500,000
Number of pending cases \| lawsuit									2
Sony, Universal, Warner Copyright
Contingencies [Line Items]
Penalty payment per day of delay \| €						€ 10,000

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Business Acquisition [Line Items]
Contingent consideration payment			$ 0	$ 5,774
Accounts payable and other liabilities			$ (7,371)	$ (6,210)
Wirewax
Business Acquisition [Line Items]
Contingent consideration arrangements		$ 5,000
Contingent consideration arrangements loss		100
Wirewax \| Contingent Consideration Liability
Business Acquisition [Line Items]
Contingent consideration payment		3,300
Accounts payable and other liabilities		$ 1,700
Wibbitz
Business Acquisition [Line Items]
Contingent consideration payment	$ 2,500

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income tax provision	$ 1,698	$ 876	$ 3,251	$ 2,073
Unrecognized tax benefits	$ 5,500		5,500		$ 4,600
Unrecognized tax benefit, related deferred tax assets and interest			$ 500

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

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+ Details

CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 324,781	$ 301,372
Accounts receivable, net	25,611	26,605
Prepaid expenses and other current assets	23,450	23,491
Total current assets	373,842	351,468
Leasehold improvements and equipment, net	448	607
Goodwill	245,406	245,406
Intangible assets with definite lives, net	1,587	2,629
Other non-current assets	21,694	22,810
TOTAL ASSETS	642,977	622,920
LIABILITIES:
Accounts payable, trade	4,760	4,696
Deferred revenue	163,304	168,610
Accrued expenses and other current liabilities	53,274	53,573
Total current liabilities	221,338	226,879
Other long-term liabilities	12,228	13,809
Commitments and contingencies
SHAREHOLDERS' EQUITY:
Preferred stock, $0.01 par value; 100,000 shares authorized; no shares issued and outstanding	0	0
Additional paid-in capital	793,022	774,587
Accumulated deficit	(367,859)	(393,335)
Accumulated other comprehensive loss	(643)	(699)
Treasury stock, 4,352 and — shares, respectively	(16,812)	0
Total shareholders' equity	409,411	382,232
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	642,977	622,920
Common Stock
SHAREHOLDERS' EQUITY:
Common stock, value	1,609	1,585
Class B common stock
SHAREHOLDERS' EQUITY:
Common stock, value	$ 94	$ 94

FINANCIAL STATEMENT DETAILS - Schedule of Other Income, Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interest income	$ 3,827	$ 3,349	$ 11,258	$ 9,027
Foreign exchange (losses) gains, net	(212)	308	54	245
Loss on the sale of an asset	0	0	0	(37)
Other income, net	$ 3,615	$ 3,657	$ 11,312	$ 9,235

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accumulated Other Comprehensive Loss
Balance at beginning of period	$ 397,892,000	$ 352,893,000	$ 382,232,000	$ 353,858,000
Other comprehensive income (loss)	294,000	(675,000)	56,000	(425,000)
Balance at end of period	409,411,000	366,720,000	409,411,000	366,720,000
Income tax provision (benefit)	1,698,000	876,000	3,251,000	2,073,000
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss
Balance at beginning of period	(937,000)	(581,000)	(699,000)	(831,000)
Other comprehensive income (loss)	294,000	(675,000)	56,000	(425,000)
Balance at end of period	(643,000)	(1,256,000)	(643,000)	(1,256,000)
Income tax provision (benefit)			0	0
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Loss
Other comprehensive income (loss)	$ 294,000	$ (675,000)	$ 56,000	$ (425,000)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

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+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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+ Details

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Operating lease, liability, current, statement of financial position	Accrued expenses and other current liabilities		Accrued expenses and other current liabilities		Accrued expenses and other current liabilities
Operating lease, liability, noncurrent, statement of financial position	Other long-term liabilities		Other long-term liabilities		Other long-term liabilities
Affiliated Entity \| IAC/InterActive Corp
Related Party Transaction [Line Items]
Current lease liability	$ 2.6		$ 2.6		$ 2.3
Non-current lease liability	8.7		8.7		$ 10.7
Affiliated Entity \| IAC/InterActive Corp \| IAC Headquarters Occupancy and Subsidiary of Angi Occupancy
Related Party Transaction [Line Items]
Rent expense	$ 0.9	$ 0.9	$ 2.6	$ 2.6

SHAREHOLDERS' EQUITY	9 Months Ended
SHAREHOLDERS' EQUITY	Sep. 30, 2024
Equity [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS' EQUITY Description of Vimeo Common Stock and Vimeo Class B Common Stock Except as described herein, shares of Vimeo common stock and Vimeo Class B common stock are identical. In general, the holders of shares of Vimeo common stock vote together as a single class with the holders of shares of Vimeo Class B common stock on all matters, including the election of directors; provided, however, that the holders of shares of Vimeo common stock, acting as a single class, are entitled to elect twenty-five percent (25%) of the total number of Vimeo directors, rounded up to the next whole number in the event of a fraction. Each outstanding share of Vimeo common stock and Vimeo Class B common stock entitles the holder to one vote per share and ten votes per share, respectively. The holders of shares of Vimeo common stock and the holders of shares of Vimeo Class B common stock are entitled to receive, share for share, such dividends as may be declared by Vimeo's Board of Directors (the "Board") out of funds legally available for the payment of dividends. In the event of a liquidation, dissolution, distribution of assets or winding-up of Vimeo, the holders of shares of Vimeo common stock and the holders of shares of Vimeo Class B common stock are entitled to receive, share for share, all the assets available for distribution after payment of a proper amount to the holders of any series of Vimeo preferred stock, including any series that may be issued in the future. Vimeo is authorized to issue 1,600,000,000 shares of Vimeo common stock and 400,000,000 shares of Vimeo Class B common stock. Vimeo Restricted Shares Vimeo Restricted Shares (held by Joseph Levin, Special Advisor to the Board and former Chairman and member of the Board) totaling 3,247,000 shares were reflected in the accompanying consolidated balance sheet within "Common Stock" at September 30, 2024 and December 31, 2023. Vesting of the Vimeo Restricted Shares is subject to Mr. Levin's continued service as Special Advisor to the Board through November 5, 2030, as well as the achievement of certain stock price targets. Vimeo Restricted Shares have a non-forfeitable dividend right in the event the Company declares a cash dividend to common shareholders and participates in all other distributions of the Company in the same manner as all other Vimeo common shareholders. Description of Preferred Stock The Board is authorized to provide for the issuance of shares of preferred stock, and any class or series thereof, and to assign the designations, powers, preferences and rights to each such class or series and any qualifications, limitations or restrictions. There have been no preferred stock issuances to date. Stock Repurchase Program On February 25, 2022, the Board authorized a stock repurchase program of up to $50.0 million of the Company’s common stock through open market or private transactions (the "Stock Repurchase Program"). Under the Stock Repurchase Program, Vimeo may repurchase shares of its common stock at any time or from time to time, without prior notice, subject to market conditions and other considerations, as determined by management. Vimeo's repurchases may be made through 10b5-1 plans, open market purchases, privately negotiated transactions, block purchases or other transactions. No date has been established for the completion of the Stock Repurchase Program. Vimeo intends to fund repurchases under the Stock Repurchase Program from cash on hand. Vimeo has no obligation to repurchase any shares under the Stock Repurchase Program and may suspend or discontinue it at any time. During the nine months ended September 30, 2024, the Company repurchased 4.4 million shares of its common stock, on a trade date basis, at an average cost of $3.86 per share, or in aggregate $16.8 million. There were no shares repurchased during the nine months ended September 30, 2023. The Company accounts for treasury stock under the cost method. Subsequent to September 30, 2024 and through October 31, 2024, the Company repurchased 0.4 million shares of its common stock, on a trade date basis, at an average cost of $4.87 per share, or in aggregate $2.0 million. At October 31, 2024, the Company has $31.3 million remaining under its share repurchase authorization.

- Definition

The entire disclosure for equity.

+ References

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-Section 50
-Paragraph 13
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Earnings per Share

The computation of basic and diluted earnings per share attributable to common shareholders is as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(In thousands, except per share data)
Basic EPS:
Numerator:
Net earnings	$	9,282	$	8,464	$	25,476	$	13,637
Less: Net earnings attributed to participating security	(182)		(164)		(494)		(304)
Net earnings attributable to common stock shareholders	$	9,100	$	8,300	$	24,982	$	13,333
Denominator: (a)
Weighted average basic common shares outstanding	162,686		163,877		164,332		162,822

Basic earnings per share	$	0.06	$	0.05	$	0.15	$	0.08

Diluted EPS:
Numerator:
Net earnings	$	9,282	$	8,464	$	25,476	$	13,637
Less: Net earnings attributed to participating security	(176)		(162)		(481)		(301)
Net earnings attributable to common stock shareholders	$	9,106	$	8,302	$	24,995	$	13,336
Denominator: (a)
Weighted average basic common shares outstanding	162,686		163,877		164,332		162,822
Dilutive securities	5,664		2,029		4,327		2,098
Weighted average diluted common shares outstanding	168,350		165,906		168,659		164,920

Antidilutive securities	11,589		20,059		12,790		22,674

Diluted earnings per share	$	0.05	$	0.05	$	0.15	$	0.08

_____________________

EARNINGS PER SHARE - Schedule (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net earnings	$ 9,282	$ 8,464	$ 25,476	$ 13,637
Less: Net earnings attributed to participating security	(182)	(164)	(494)	(304)
Net earnings attributable to common stock shareholders	$ 9,100	$ 8,300	$ 24,982	$ 13,333
Denominator:
Weighted average basic common shares outstanding (in shares)	162,686	163,877	164,332	162,822
Basic earnings per share (USD per share)	$ 0.06	$ 0.05	$ 0.15	$ 0.08
Numerator:
Net earnings	$ 9,282	$ 8,464	$ 25,476	$ 13,637
Less: Net earnings attributed to participating security	(176)	(162)	(481)	(301)
Net earnings attributable to common stock shareholders	$ 9,106	$ 8,302	$ 24,995	$ 13,336
Denominator:
Weighted average basic common shares outstanding (in shares)	162,686	163,877	164,332	162,822
Dilutive securities (in shares)	5,664	2,029	4,327	2,098
Weighted average diluted common shares outstanding (in shares)	168,350	165,906	168,659	164,920
Antidilutive securities (in shares)	11,589	20,059	12,790	22,674
Diluted earnings per share (USD per share)	$ 0.05	$ 0.05	$ 0.15	$ 0.08

FINANCIAL STATEMENT DETAILS - Schedule of Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 324,781	$ 301,372	$ 290,564	$ 274,497
Restricted cash included in Prepaid expenses and other current assets	240	64	327	337
Total cash and cash equivalents and restricted cash as shown in the accompanying consolidated statement of cash flows	$ 325,021	$ 301,436	$ 290,891	$ 274,834

CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net earnings	$ 25,476	$ 13,637
Adjustments to reconcile net earnings to net cash provided by operating activities:
Stock-based compensation expense	23,620	5,429
Amortization of intangibles	1,042	2,491
Depreciation	313	1,198
Provision for credit losses	344	326
Loss on the sale of an asset	0	37
Non-cash lease expense	3,310	3,410
Other adjustments, net	64	1,053
Changes in assets and liabilities:
Accounts receivable	(795)	3,453
Prepaid expenses and other assets	4,231	(1,987)
Accounts payable and other liabilities	(7,371)	(6,210)
Deferred revenue	(4,177)	4,966
Net cash provided by operating activities	46,057	27,803
Cash flows from investing activities:
Capital expenditures	(173)	(108)
Proceeds from the sale of an asset	0	639
Net cash (used in) provided by investing activities	(173)	531
Cash flows from financing activities:
Amounts related to settlement of equity awards	(5,243)	(5,697)
Proceeds from exercise of stock options	47	134
Purchases of treasury stock	(16,797)	0
Contingent consideration payment	0	(5,774)
Other	0	(266)
Net cash used in financing activities	(21,993)	(11,603)
Total cash provided	23,891	16,731
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(306)	(674)
Net increase in cash and cash equivalents and restricted cash	23,585	16,057
Cash and cash equivalents and restricted cash at beginning of period	301,436	274,834
Cash and cash equivalents and restricted cash at end of period	$ 325,021	$ 290,891

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss consisting of foreign currency translation adjustments is as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(In thousands)
Balance at beginning of period	$	(937)	$	(581)	$	(699)	$	(831)
Other comprehensive income (loss)	294		(675)		56		(425)
Balance at end of period	$	(643)	$	(1,256)	$	(643)	$	(1,256)

RESTRUCTURING

9 Months Ended

Sep. 30, 2024

Restructuring and Related Activities [Abstract]

RESTRUCTURING

During the quarters ended March 31, 2024 and 2023, the Company completed evaluations to sufficient levels of detail to commit to restructuring plans that resulted in reductions to its workforce of approximately 4% and 11% of its employees, respectively. One-time termination benefits provided as part of the restructuring plans include severance, continuation of health insurance coverage and other benefits for a specified period of time, which resulted in $2.2 million and $4.9 million of restructuring costs for the nine months ended September 30, 2024 and 2023, respectively.

Costs related to these restructuring plans have been recognized in the accompanying consolidated statement of operations as follows:


	Nine Months Ended September 30,
		2024		2023
		(In thousands)
Restructuring costs:
Cost of revenue		$	88	$	298
Research and development expense		116		2,813
Sales and marketing expense		1,104		1,078
General and administrative expense		897		699
Total		$	2,205	$	4,888

At September 30, 2024, all payments under the restructuring plans have been made.

REVENUE - Schedule of Disaggregation of Revenue and Revenue and Long-lived Assets by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 104,564	$ 106,253	$ 313,850	$ 311,670
United States
Disaggregation of Revenue [Line Items]
Revenue	56,705	57,272	170,930	166,171
All other countries
Disaggregation of Revenue [Line Items]
Revenue	47,859	48,981	142,920	145,499
Self-Serve & Add-Ons
Disaggregation of Revenue [Line Items]
Revenue	67,864	71,935	206,341	214,358
Vimeo Enterprise
Disaggregation of Revenue [Line Items]
Revenue	21,675	15,220	60,193	39,691
Other
Disaggregation of Revenue [Line Items]
Revenue	$ 15,025	$ 19,098	$ 47,316	$ 57,621

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

CONSOLIDATED STATEMENT OF COMPREHENSIVE OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net earnings	$ 9,282	$ 8,464	$ 25,476	$ 13,637
Other comprehensive income (loss):
Change in foreign currency translation adjustment	294	(675)	56	(425)
Total other comprehensive income (loss)	294	(675)	56	(425)
Comprehensive income	$ 9,576	$ 7,789	$ 25,532	$ 13,212

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

REVENUE

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

REVENUE

Revenue Recognition

Vimeo's revenue is derived primarily from fixed SaaS subscription fees paid by customers. Subscription periods generally range from one month to three years, with the most common being an annual subscription, and are generally non-cancellable.

Vimeo accounts for a contract with a customer when it has approval and commitment from all parties, the rights of the parties and payment terms are identified, the contract has commercial substance and collectability of consideration is probable. The transaction price, which generally reflects the fixed SaaS subscription fees listed in the terms of the contract, is the amount of consideration Vimeo expects to be entitled to in exchange for access to the Vimeo platform. The transaction price is recognized as revenue on a straight-line basis over the contractual term of the arrangement beginning on the date access is provided to the Vimeo platform, which is considered to be a series of distinct services that comprise a single performance obligation and have the same pattern of transfer over the contractual term. All taxes assessed by governmental authorities that are both (i) imposed on and concurrent with a specific revenue-producing transaction and (ii) collected from customers are excluded from the measurement of the transaction price, and accordingly, not included as a component of revenue or cost of revenue. For contracts that have an original duration of one year or less, Vimeo does not consider the time value of money applicable to such contracts. Estimates of variable consideration are not significant.

Disaggregated revenue is as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(In thousands)
Revenue:
Self-Serve & Add-Ons	$	67,864	$	71,935	$	206,341	$	214,358
Vimeo Enterprise	21,675		15,220		60,193		39,691
Other	15,025		19,098		47,316		57,621
Total	$	104,564	$	106,253	$	313,850	$	311,670


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(In thousands)
Revenue:
United States	$	56,705	$	57,272	$	170,930	$	166,171
All other countries	47,859		48,981		142,920		145,499
Total	$	104,564	$	106,253	$	313,850	$	311,670

Deferred Revenue

Deferred revenue consists of payments that are received or are contractually due in advance of Vimeo's performance. Vimeo's deferred revenue is reported on a contract by contract basis at the end of each reporting period. Vimeo classifies deferred revenue as current when the term of the applicable subscription period or expected completion of its performance obligation is one year or less. The current and non-current deferred revenue balances are included in the accompanying consolidated balance sheet as follows:


	September 30, 2024		December 31, 2023
	(In thousands)
Deferred revenue	$	163,304	$	168,610
Other long-term liabilities	901		1,216

During the nine months ended September 30, 2024, Vimeo recognized $155.9 million of revenue that was included in the deferred revenue balance at December 31, 2023. During the nine months ended September 30, 2023, Vimeo recognized $155.2 million of revenue that was included in the deferred revenue balance at December 31, 2022.

Costs to Obtain a Contract with a Customer

Vimeo has determined that commissions paid to employees pursuant to certain sales incentive programs meet the requirements to be capitalized as a cost of obtaining a contract with a customer. Commissions paid to employees pursuant to certain sales incentive programs are amortized over the estimated customer relationship period. Vimeo calculates the estimated customer relationship period as the average customer life, which is based on historical data. When customer renewals are expected and the renewal commission is not commensurate with the initial commission, the average customer life includes renewal periods. Vimeo has elected the practical expedient to expense costs to obtain a contract with a customer as incurred when the customer relationship period is one year or less.

The current and non-current balances of capitalized costs to obtain a contract with a customer are included in the accompanying consolidated balance sheet as follows:


	September 30, 2024		December 31, 2023
	(In thousands)
Prepaid expenses and other current assets	$	5,236	$	5,099
Other non-current assets	8,180		8,263

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

CONTINGENCIES	9 Months Ended
CONTINGENCIES	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES In the ordinary course of business, Vimeo is, and from time to time may become, a party to various legal proceedings. Vimeo establishes reserves for specific legal matters when it determines that the likelihood of an unfavorable outcome is probable and the loss is reasonably estimable. Management has also identified certain other legal matters where it believes an unfavorable outcome is not probable and, therefore, no reserve is established. Although management currently believes that resolving claims against Vimeo, including claims where an unfavorable outcome is reasonably possible, will not have a material impact on the liquidity, results of operations or financial condition of Vimeo, these matters are subject to inherent uncertainties and management's view of these matters may change in the future. Vimeo also evaluates other contingent matters, including income and non-income tax contingencies, to assess the likelihood of an unfavorable outcome and estimated extent of potential loss. It is possible that an unfavorable outcome of one or more of these lawsuits or other contingencies could have a material impact on the liquidity, results of operations or financial condition of Vimeo. See "Note 3—Income Taxes" for additional information related to income tax contingencies. EMI/Capitol Records Copyright Infringement Litigation In December 2009, a group of music publishers owned by EMI Music Publishing (now owned by Sony/ATV Music Publishing, a subsidiary of Sony Entertainment) and a group of then EMI-affiliated record companies, including Capitol Records (now owned by Universal Music Group), filed two lawsuits against Vimeo and its former owner, Connected Ventures, in the U.S. District Court for the Southern District of New York. See Capitol Records, LLC v. Vimeo, LLC, No. 09 Civ. 10101 (S.D.N.Y.) and EMI Blackwood Music, Inc. v. Vimeo, LLC, No. 09 Civ. 10105 (S.D.N.Y.). In both cases, plaintiffs allege that Vimeo infringed their music copyrights (in the publishers' musical compositions and the record companies' sound recordings) by hosting and streaming videos uploaded by users (and in certain cases, former employees) featuring their musical works. Plaintiffs seek, among other things, injunctive relief and monetary damages. The initial complaints identified 199 videos as infringing (which Vimeo removed post-suit). Prior to suit, plaintiffs did not avail themselves of their right to submit a takedown notice to Vimeo pursuant to the online safe harbor provisions of the Digital Millennium Copyright Act of 1998 ("DMCA"), which limits the liability of online service providers for copyright infringement of their users when the provider takes certain measures. Vimeo asserts that the DMCA limits its liability because it complies with the DMCA and plaintiffs failed to submit takedown notices. Plaintiffs disagree, asserting various theories as to why the DMCA may not apply to some or all of the videos-in-suit. The district court bifurcated proceedings and required the parties to first litigate the issue of whether Vimeo satisfied the DMCA's safe harbor provisions. On September 18, 2013, the district court granted partial summary judgment to Vimeo on 144 of the 199 original videos-in-suit on the ground that Vimeo complied with the threshold requirements of the DMCA and that there was no evidence that a Vimeo employee had watched the videos in question such that Vimeo had actual or "red flag" knowledge of infringement, which would disqualify the DMCA's application. The court denied summary judgment as to 35 videos-in-suit on the ground that there was a material question of fact as to whether Vimeo had "red flag" knowledge of infringement based upon employees having watched all or part of these videos. The court further held that the DMCA did not apply to the record companies' state-law claims regarding sound recordings fixed before February 1972; a trial was necessary to determine whether Vimeo was liable for employees who uploaded approximately 20 videos; and that plaintiffs should be permitted to amend their complaints to add over 1,500 videos allegedly infringing their copyrights (which Vimeo removed after receiving plaintiffs' proposed amended complaint). Vimeo sought and obtained the right to appeal certain issues on an interlocutory basis to the U.S. Court of Appeals for the Second Circuit. On June 16, 2016, the Second Circuit held that (1) the district court had applied the incorrect summary-judgment standard for "red flag" infringement and that evidence that an employee watched all or part of a video containing plaintiffs' music did not raise a genuine issue of fact as to whether Vimeo had "red flag" knowledge in such video; (2) the DMCA applies to state-law copyright infringement claims predicated on pre-1972 sound recordings; and (3) on an issue raised by plaintiffs in their cross-appeal, the record did not show that Vimeo was willfully blind towards infringing activity taking place on its platform. As a result of these rulings, the Second Circuit partially vacated the district court's ruling and remanded the case for further proceedings consistent with its judgment. On March 31, 2018, the district court granted Vimeo’s motion to dismiss plaintiffs' state-law unfair competition claims on the grounds that they were state-law copyright claims covered by the DMCA per the Second Circuit's judgment. On May 28, 2021, the district court granted Vimeo summary judgment as to videos for which the sole remaining basis of liability was the assertion that Vimeo had "red flag" knowledge of infringement. On August 26, 2021, the district court approved a stipulation whereby plaintiffs agreed to conditionally dismiss all remaining claims to allow a final judgment to issue. Under the stipulation, plaintiffs may refile their claims regarding the alleged employee-uploaded videos if the Second Circuit reverses the district court's other rulings in whole or in part. On November 1, 2021, the district court entered a final judgment adopting the terms of the parties' stipulation. On November 29, 2021, plaintiffs filed an appeal to the U.S. Court of Appeals for the Second Circuit. The appeal has been fully briefed and argued. RTI Copyright Litigation Between 2012 and 2017, Italian broadcaster Reti Televisive Italiane s.p.a. and an affiliate thereof (collectively, "RTI") filed four lawsuits for copyright infringement against Vimeo in the Civil Court of Rome. See Reti Televisive Italiane s.p.a. v. Vimeo, LLC, Cause Nos. 23732/12, 62343/2015, and 59780/2017 (Rome Civil Court), and Medusa Film v. Vimeo, Inc., Cause No. 74775/2017 (Rome Civil Court). In each case, RTI asserts that Vimeo infringed its copyrights by hosting and streaming user-uploaded videos that allegedly contain RTI's television or film programming, and seeks, among other things, injunctive relief and monetary damages. On January 15, 2019, the Civil Court of Rome concluded the first case (No. 23732/12) and entered a judgment against Vimeo, awarding RTI damages of €8,500,000 plus interest and entering an injunction against Vimeo with respect to further acts of infringement. Vimeo filed an appeal and petitioned to stay the judgment pending appeal. On May 13, 2019, the Rome Court of Appeals stayed the judgment pending appeal. On August 10, 2022, the Rome Court of Appeals affirmed the judgment. Vimeo has appealed to the Italian Supreme Court of Cassation and the case is currently pending (No. 26719/2022). On June 2, 2019, the Civil Court of Rome concluded the second case (No. 62343/2015) and entered a judgment against Vimeo, awarding RTI damages of €4,746,273 plus interest and entering an injunction against Vimeo as to further acts infringement. Vimeo filed an appeal and petitioned to stay the judgment pending appeal. The Rome Court of Appeals declined to stay the judgment. On October 12, 2023, the Rome Court of Appeals published its decision affirming the lower court's judgment on liability but reducing the amount of damages to €3,865,161 plus interests and costs. Vimeo has appealed to the Italian Supreme Court of Cassation and the case is currently pending (No. 856/2024). To pursue enforcement of the judgments in the United States, RTI initially commenced a lawsuit against Vimeo in the U.S. District Court for the Southern District of New York on October 26, 2020 to enforce the June 2019 judgment. See Reti Televisive Italiane s.p.a. v. Vimeo, LLC, No. 20 Civ. 8954 (S.D.N.Y.). On December 22, 2020, Vimeo and RTI filed, and the district court entered, a stipulation and order staying the U.S. proceedings pending the final outcome of the appeals from the Italian judgment at issue. On June 1, 2023, RTI filed an action in the Supreme Court of New York, New York County to enforce the Civil Court's judgment of €8,500,000 (No. 652646/2023). The case was removed to federal court and is now pending in the Southern District of New York. See Reti Televisive Italiane S.p.A. v. Vimeo.com, Inc, No. 23 Civ. 05488 (S.D.N.Y.). On October 20, 2023, the U.S. District Court for the Southern District of New York entered an order lifting the stay of the U.S. enforcement proceedings in the first case (No. 20 Civ. 8954) and consolidating the two enforcement proceedings (No. 20 Civ. 8954 and No. 23 Civ. 05488). Vimeo has filed a Motion for Summary Judgement or, in the Alternative, to Stay the Case. On April 7, 2023, the Civil Court of Rome published a decision finding in favor of Vimeo and dismissing the third case (No. 59780/2017) in its entirety. On October 9, 2023, RTI served Vimeo with its appeal challenging the court's decision in the third case. On October 18, 2022, the Civil Court of Rome issued a decision in the fourth case, Medusa Film v. Vimeo, Inc. (No. 74775/2017) finding liability but rejecting RTI's damage calculation and reserving judgment as to the amount of damages. On November 30, 2022, RTI served a notice of appeal challenging the court's decision on damages. On June 26, 2024, the parties entered into a settlement agreement to resolve the lawsuits pending in Italy and the consolidated enforcement action pending in New York. The settlement agreement included a payment to the plaintiffs, which did not have a material impact on Vimeo’s financial condition, results of operations, or cash flows. Pursuant to the settlement agreement, on July 12, 2024, the parties filed a Joint Stipulation of Dismissal of the consolidated enforcement action in the Southern District of New York (No. 23 Civ. 05488), and the case is now closed. On July 18, 2024, the parties filed Joint Stipulations of Dismissal to resolve the cases pending in the Civil Court of Rome (No. 74775/2017), the Rome Court of Appeals (Nos. 6536/2022 and 5033/2023), and the Italian Supreme Court of Cassation (Nos. 26719/2022 and 856/2024). The Civil Court of Rome and the Rome Court of Appeals have dismissed the cases pending before them. The Italian Supreme Court of Cassation has not yet dismissed the two cases pending before it. Sony/Universal/Warner Copyright Litigation In March 2021, Sony Music Entertainment Italy (a subsidiary of Sony Music Entertainment Group), Warner Music Italia (a subsidiary of Warner Music Group), Universal Music Italia (a subsidiary of Universal Music Group), and Warner Music International Services (a subsidiary of Warner Music Group) filed a lawsuit against Vimeo in the Court of Milan alleging violations of Italian copyright and unfair competition laws. See Sony Music Entertainment Italy s.p.a. et al. v. Vimeo, Inc., Case No. 10977/2021 (Court of Milan, Business Division). The complaint alleges that Vimeo infringed plaintiffs' copyrights by hosting and streaming user-uploaded videos that contain plaintiffs' copyrighted works and that, upon notification of the alleged infringement, Vimeo employed a takedown process that did not comply with Italian law. The complaint seeks, among other things, injunctive relief and damages to be quantified in a separate proceeding. Additionally, the complaint seeks potential penalties of €10,000 per day of delay in removing unauthorized works after receipt of a court order to do so, if applicable. On November 3, 2021, Vimeo filed its initial brief. On November 23, 2021, the parties attended the initial hearing with the Court of Milan where the court set forth a briefing schedule. The parties have exchanged briefs, and the claims hearing scheduled for October 16, 2024 has been rescheduled for October 8, 2025.

INCOME TAXES	9 Months Ended
INCOME TAXES	Sep. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES At the end of each interim period, Vimeo estimates the annual expected effective income tax rate and applies that rate to its ordinary year-to-date earnings or loss with discrete items recorded in the period. The estimates used to compute the provision or benefit for income taxes may change as new events occur, additional information is obtained, or Vimeo's tax environment changes. For the three months ended September 30, 2024 and 2023, Vimeo recorded an income tax provision of $1.7 million and $0.9 million, respectively. For the nine months ended September 30, 2024 and 2023, Vimeo recorded an income tax provision of $3.3 million and $2.1 million, respectively. For the three and nine months ended September 30, 2024, the effective income tax rate was lower than the federal statutory rate of 21% primarily due to movement in the valuation allowance and the effects of international tax provisions as required under 2017 Tax Cuts and Jobs Act, partially offset by stock-based awards. Vimeo's largest deferred tax assets are capitalized research and development expenses and tax attribute carryforwards. Vimeo has recorded a valuation allowance for the majority of its net deferred tax assets because it has concluded that it is more likely than not that the tax benefit will not be realized. At September 30, 2024 and December 31, 2023, unrecognized tax benefits, including interest and penalties, were $5.5 million and $4.6 million, respectively. The Company would recognize an income tax benefit of $0.5 million if unrecognized tax benefits at September 30, 2024 are subsequently recognized. Vimeo believes no unrecognized tax benefits would decrease by September 30, 2025. Vimeo recognizes interest and penalties related to unrecognized tax benefits, if applicable, in the income tax provision.

- Definition

The entire disclosure for income tax.

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-Topic 740
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
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-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details