Kanzhun LimitedBZ

Key highlights

• Positive revenue outlook: The company expects revenue for the second quarter of 2026 to be between RMB2.38 billion and RMB2.42 billion, a growth range of 13.2% to 15.1%. This suggests business is picking up speed compared to the 7.6% growth reported this quarter.
• Monthly active users climbing: Average monthly active users reached 60.9 million for the quarter, and that momentum peaked in March with more than 72 million users logging on. This 5.7% yearly increase shows the platform is successfully pulling in more job seekers and employers to fuel its matching engine.
• Enterprise customer growth: The number of companies paying for recruitment services grew 10.9% to 7.1 million over the last twelve months. This is a critical sign of health because these paying businesses drove nearly all the revenue this quarter, bringing in RMB2,057.8 million.
• Record profit margins: The operating margin, which is the percentage of revenue left after paying for the costs of running the business, hit 30.1% this quarter. This is up from 22.9% a year ago, as the company spent 3% less on overall operations while growing its sales.
• Aggressive share repurchases: The company bought back more than 28 million shares for RMB1.4 billion so far in 2026, which represents about 3% of all its shares. Management also increased the total amount they are allowed to spend on buybacks to $400 million through August 2027 to return more cash to owners.

Our take: A strong quarter that showed much better profit discipline than the modest revenue growth suggests. By keeping costs flat while expanding its paid customer base to 7.1 million, Kanzhun is proving its platform can scale profitably. This efficiency gains confidence in the long-term case as the business enters its peak hiring season.