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 July 2, 2021 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 0-18655 EXPONENT, INC. 94025 (ZipCode) (Exact name of registrant as specified in its charter) DELAWARE 77-0218 ...

Exponent, Inc. (NASDAQ:EXPO) Q1 2021 Earnings Conference Call April 29, 2021 4:30 PM ET Company Participants Whitney Kukulka - Investor Relations Dr. Catherine Corrigan - President and CEO Rich Schlenker - Executive Vice President and CFO Conference Call Participants Tobey Sommer - Truist Securities Andrew Nicholas - William Blair Marc Riddick - Sidoti Operator Good day. And welcome to the Exponent First Quarter and Fiscal Year 2021 Earnings Call. Today’s conference is being recorded. At this time, I would ...

Financial Data and Key Metrics Changes - For Q4 2020, total revenues declined by 6% to $103.2 million, while net revenues decreased by 5% to $97.3 million compared to Q4 2019, with an 8% headwind from having one less week in 2020 [18] - Net income for Q4 increased to $21.8 million or $0.41 per diluted share, compared to $19.1 million or $0.36 per share in the prior year [18] - EBITDA for Q4 increased by 2% to $28.3 million, resulting in a margin of 29.1%, an increase of 200 basis points year-over-year [19] - For the full year 2020, total revenues declined by 4% to $399.9 million, and net revenues decreased by 3% to $378.4 million compared to 2019 [20] - Net income for the year was slightly up at $82.6 million or $1.55 per diluted share compared to $82.5 million or $1.53 per diluted share in 2019 [21] Business Line Data and Key Metrics Changes - The Engineering and Other Scientific segment represented approximately 80% of net revenues, with a 5% decrease in Q4 and a 4% decrease for the full year compared to 2019 [13] - The Environmental & Health segment accounted for about 20% of net revenues, with a 5% decrease in Q4 but a 1% increase for the full year compared to 2019 [14] Market Data and Key Metrics Changes - Increased activity in domestic litigation support was noted, with a year-over-year decline of about 5% for the full year, but improvements were seen in Q4 [12][47] - International arbitration hearings increased as they proceeded virtually, indicating a shift in litigation dynamics due to COVID-19 [12] Company Strategy and Development Direction - The company aims to leverage its nimble business model to capitalize on market opportunities driven by increased demand for safety, health, sustainability, and reliability solutions [9] - Exponent is focused on expanding its capabilities in areas such as wearable technologies, electric vehicles, and human factors, which are expected to drive long-term growth [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's ability to grow in 2021, despite uncertainties related to the pandemic [15] - The company expects revenues before reimbursements to grow in the low single digits for Q1 2021 and in the high single digits for the full year [41][42] Other Important Information - The company ended 2020 with $243 million in cash and short-term investments and announced a 5% increase in its quarterly dividend from $0.19 to $0.20 [40] - Operating cash flows were $40.9 million for Q4 and $103.3 million for the year, with capital expenditures expected to be $7 million to $8 million in 2021 [39] Q&A Session Summary Question: Trends in litigation-related work year-over-year - Litigation work overall was down about 5% for the full year, with Q4 seeing a decline in the mid-single-digit percentage range [47] Question: Company pricing position and hiring posture - Rates increased by approximately 4.5% year-over-year, slightly lower than the previous year's increase, with a focus on hiring in areas of business strength [49][50] Question: Competitive disruption in markets - The competitive landscape is fragmented, but Exponent has successfully attracted talent from competitors, indicating a relative strength in the current environment [56][58] Question: Opportunities in the government space under the new administration - The company sees potential for expansion in government contracts, particularly in environmental and regulatory work [64] Question: Opportunities in Asia post-pandemic - Asia showed strength in Q4, with expectations for continued growth in advisory services and infrastructure projects [66][67] Question: User studies and vaccine rollout impact - Interest in user studies is present, but the timeline for execution remains uncertain due to ongoing restrictions [71][75] Question: Litigation process and trial dates - The litigation process is experiencing fits and starts, with trial dates being pushed back due to COVID-19, but there is optimism for continued growth in this area [78][79]

Exponent, Inc. (NASDAQ:EXPO) Q3 2020 Earnings Conference Call October 29, 2020 4:30 PM ET Company Participants Whitney Kukulka - IR Catherine Corrigan - President & CEO Rich Schlenker - EVP & CFO Conference Call Participants Sam England - Berenberg Bank Alexis Huseby - D.A. Davidson & Company Andrew Nicholas - William Blair Tobey Sommer - Truist Financial Operator Good day, and welcome to Exponent's Third Quarter Earnings Call. [Operator Instructions] At this time, I would like to turn the conference over t ...

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 April 3, 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 0-18655 EXPONENT, INC. (Exact name of registrant as specified in its charter) DELAWARE 77-0218904 (State or o ...

Exponent, Inc. (NASDAQ:EXPO) Q1 2020 Earnings Conference Call April 30, 2020 4:30 PM ET Company Participants Whitney Kukulka – Investor Relations Catherine Corrigan – President and Chief Executive Officer Rich Schlenker – Executive Vice President and Chief Financial Officer Conference Call Participants Tobey Sommer – SunTrust Trevor Romeo – William Blair Marc Riddick – Sidoti Alexis Huseby – D.A. Davidson Sam England – Berenberg Operator Good day and welcome to the Exponent’s First Quarter of Fiscal Year 20 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended January 3, 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 0-18655 EXPONENT, INC. | --- | --- | --- | --- | --- | |------------------------------------------------------------------------- ...

Exponent, Inc. (NASDAQ:EXPO) Q4 2019 Results Earnings Conference Call February 6, 2020 4:30 PM ET Company Participants Whitney Kukulka - Investor Relations Dr. Catherine Corrigan - President and CEO Rich Schlenker - Executive Vice President and CFO Conference Call Participants Drew Kootman - Cantor Fitzgerald Alexis Huseby - D.A. Davidson & Company Jasper Bibb - SunTrust Andrew Nicholas - William Blair Marc Riddick - Sidoti Operator Good day. And welcome to the Exponent Fourth Quarter and Fiscal Year 2019 E ...

[PART I – FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20%E2%80%93%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Presents unaudited financial statements for Q3 2019, reflecting revenue growth and the adoption of a new lease standard [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Condensed Consolidated Balance Sheet Highlights (in thousands) | Balance Sheet Item | September 27, 2019 | December 28, 2018 | Change | | :--- | :--- | :--- | :--- | | Cash and cash equivalents | $132,843 | $127,059 | +$5,784 | | Accounts receivable, net | $128,333 | $105,814 | +$22,519 | | Total current assets | $351,532 | $326,612 | +$24,920 | | Operating lease right-of-use assets | $23,715 | $0 | +$23,715 | | Total assets | $544,491 | $468,936 | +$75,555 | | Total current liabilities | $101,034 | $98,304 | +$2,730 | | Total liabilities | $187,212 | $155,027 | +$32,185 | | Total stockholders' equity | $357,279 | $313,909 | +$43,370 | - The company adopted a new lease accounting standard in 2019, resulting in the recognition of **$23.7 million in Operating lease right-of-use assets** and corresponding lease liabilities on the balance sheet[11](index=11&type=chunk)[30](index=30&type=chunk) [Condensed Consolidated Statements of Income](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) Statement of Income Summary (in thousands, except per share data) | Metric | Q3 2019 | Q3 2018 | YoY Change | Nine Months 2019 | Nine Months 2018 | YoY Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Revenues | $101,548 | $95,302 | +6.6% | $307,085 | $287,380 | +6.9% | | Operating Income | $23,184 | $20,594 | +12.6% | $63,761 | $64,670 | -1.4% | | Net Income | $19,633 | $17,453 | +12.5% | $63,339 | $56,218 | +12.7% | | Diluted EPS | $0.36 | $0.32 | +12.5% | $1.17 | $1.04 | +12.5% | | Dividends per share | $0.160 | $0.130 | +23.1% | $0.480 | $0.390 | +23.1% | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash Flow Summary for Nine Months Ended (in thousands) | Cash Flow Activity | September 27, 2019 | September 28, 2018 | Change | | :--- | :--- | :--- | :--- | | Net cash provided by operating activities | $52,293 | $46,826 | +$5,467 | | Net cash used in investing activities | ($11,717) | ($21,958) | +$10,241 | | Net cash used in financing activities | ($34,437) | ($28,271) | -$6,166 | | Net increase (decrease) in cash | $5,784 | ($3,817) | +$9,601 | | Cash and cash equivalents at end of period | $132,843 | $120,977 | +$11,866 | - The increase in cash from operating activities was primarily driven by higher net income, while financing cash usage grew due to higher dividend payments[24](index=24&type=chunk)[119](index=119&type=chunk)[120](index=120&type=chunk) [Notes to Unaudited Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) - The company adopted the new lease accounting standard (Topic 842), which materially impacted the balance sheet by recognizing **right-of-use (ROU) assets and lease liabilities**[30](index=30&type=chunk)[32](index=32&type=chunk)[34](index=34&type=chunk) - Time and materials contracts constituted **84.9% of total revenues** for the first nine months of 2019, up from 83.3% in the prior year period[35](index=35&type=chunk) Segment Revenues for Nine Months Ended (in thousands) | Segment | September 27, 2019 | September 28, 2018 | YoY Change | | :--- | :--- | :--- | :--- | | Engineering and Other Scientific | $250,134 | $231,980 | +7.8% | | Environmental and Health | $56,951 | $55,400 | +2.8% | | **Total Revenues** | **$307,085** | **$287,380** | **+6.9%** | - On October 17, 2019, the Board of Directors declared a quarterly cash dividend of **$0.16 per share**[82](index=82&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q3 2019 financial results, highlighting revenue drivers, net income growth, and key client projects [Results of Operations - Three Months Ended](index=23&type=section&id=Results%20of%20Operations%20-%20Three%20Months%20Ended) Q3 2019 vs Q3 2018 Performance (in thousands) | Metric | Q3 2019 | Q3 2018 | % Change | | :--- | :--- | :--- | :--- | | Revenues | $101,548 | $95,302 | +6.6% | | Revenues before reimbursements | $95,506 | $88,714 | +8.0% | | Net Income | $19,633 | $17,453 | +12.0% | - Growth was driven by strong demand in biomedical engineering, chemical regulation, construction consulting, and other scientific practices[90](index=90&type=chunk) - A project for an electric utility client, focused on infrastructure integrity and wildfire risk mitigation, contributed approximately **4% of revenues** before reimbursements in Q3 2019[90](index=90&type=chunk) - The effective tax rate decreased from **27.2% to 22.1%** year-over-year, primarily due to a significant increase in the excess tax benefit from stock-based awards[104](index=104&type=chunk) [Results of Operations - Nine Months Ended](index=26&type=section&id=Results%20of%20Operations%20-%20Nine%20Months%20Ended) Nine Months 2019 vs 2018 Performance (in thousands) | Metric | Nine Months 2019 | Nine Months 2018 | % Change | | :--- | :--- | :--- | :--- | | Revenues | $307,085 | $287,380 | +6.9% | | Engineering & Other Scientific Revenue | $250,134 | $231,980 | +7.8% | | Environmental & Health Revenue | $56,951 | $55,400 | +2.8% | - Compensation and related expenses increased by **10.0%** primarily due to higher payroll from an increased number of employees and salary adjustments[108](index=108&type=chunk) - The effective tax rate for the nine-month period decreased to **18.1% from 21.2%** in the prior year, driven by a larger excess tax benefit from stock-based awards[117](index=117&type=chunk) [Liquidity and Capital Resources](index=28&type=section&id=Liquidity%20and%20Capital%20Resources) - As of September 27, 2019, the company held **$210.0 million in cash, cash equivalents, and short-term investments**, deemed sufficient for near-term liquidity needs[118](index=118&type=chunk) - Net cash from operations increased to **$52.3 million** for the first nine months of 2019, up from $46.8 million in the prior year, mainly due to higher net income[118](index=118&type=chunk)[119](index=119&type=chunk) - Capital expenditures increased due to construction costs for a new office and laboratory facility in Natick, Massachusetts[120](index=120&type=chunk) [Non-GAAP Financial Measures](index=29&type=section&id=Non-GAAP%20Financial%20Measures) - The company uses **EBITDA** and **EBITDAS** as key non-GAAP measures to evaluate operating performance[127](index=127&type=chunk) Reconciliation of Net Income to EBITDA and EBITDAS (in thousands) | Metric | Q3 2019 | Q3 2018 | Nine Months 2019 | Nine Months 2018 | | :--- | :--- | :--- | :--- | :--- | | Net Income | $19,633 | $17,453 | $63,339 | $56,218 | | EBITDA | $25,968 | $24,810 | $79,394 | $74,255 | | EBITDAS | $29,812 | $28,382 | $92,979 | $87,860 | [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=30&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risks are interest rate fluctuations on its investment portfolio and foreign currency exchange rates - Primary market risks are interest rate fluctuations on its portfolio of cash and investments, and foreign currency exchange rate changes[132](index=132&type=chunk)[133](index=133&type=chunk) - The main foreign currency exposures are to the **British Pound, the Euro, and the Chinese Yuan**, which the company does not hedge[133](index=133&type=chunk)[136](index=136&type=chunk) [Item 4. Controls and Procedures](index=31&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective with no material changes in internal controls - Based on an evaluation, the CEO and CFO concluded that the company's disclosure controls and procedures were **effective** as of September 27, 2019[138](index=138&type=chunk) - **No material changes** in internal control over financial reporting occurred during the third quarter of 2019[139](index=139&type=chunk) [PART II – OTHER INFORMATION](index=32&type=section&id=PART%20II%20%E2%80%93%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=32&type=section&id=Item%201.%20Legal%20Proceedings) The company reports no involvement in any material legal proceedings - Exponent is **not currently involved** in any material legal proceedings[141](index=141&type=chunk) [Item 1A. Risk Factors](index=32&type=section&id=Item%201A.%20Risk%20Factors) Details key business risks including client dependency, talent retention, cybersecurity, and international operations - The business is unpredictable as it is primarily reactive to client requests, making **backlog an unreliable indicator** of future revenue[143](index=143&type=chunk) - Success is highly dependent on **attracting and retaining qualified technical and managerial personnel** in a competitive market[145](index=145&type=chunk) - A client's inability to pay for services poses a risk, with **$3.0 million in pre-bankruptcy accounts receivable** from PG&E Corp outstanding[149](index=149&type=chunk)[150](index=150&type=chunk) - The company faces risks from potential **security breaches** of its operating systems, which could disrupt operations and lead to data disclosure[160](index=160&type=chunk) - International operations create special risks, including **currency fluctuations, regulatory hurdles, and compliance with laws like the FCPA and GDPR**[165](index=165&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=37&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company provides an update on its stock repurchase program, noting no shares were repurchased in Q3 2019 - The company did **not repurchase any of its common stock** during the third quarter of 2019[179](index=179&type=chunk) - As of September 27, 2019, the company had **$92,462,000 remaining** under its authorized stock repurchase programs[179](index=179&type=chunk) [Item 6. Exhibits](index=38&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the report, including CEO and CFO certifications - Exhibits filed include **certifications from the Chief Executive Officer and Chief Financial Officer**[184](index=184&type=chunk)[185](index=185&type=chunk)

Financial Data and Key Metrics Changes - Exponent reported net revenues of $95.5 million for Q3 2019, an 8% increase year-over-year, while net income rose 13% to $19.6 million and EBITDA increased 5% to $26 million [6][13] - Year-to-date net income increased 13% to $63.3 million, with earnings per diluted share at $1.17 compared to $1.04 last year [14] - EBITDA margin for Q3 decreased by 78 basis points to 27.2% of net revenue, while year-to-date EBITDA margin decreased 11 basis points to 27.5% [17] Business Line Data and Key Metrics Changes - The engineering and scientific segment accounted for approximately 81% of net revenues, growing 8% year-over-year [9] - The environmental and health segments represented about 19% of net revenues, with a 6% growth in Q3 and 4% year-to-date [10] Market Data and Key Metrics Changes - Exponent's work for Pacific Gas and Electric contributed approximately 4% of revenues in Q3, with ongoing projects expected to step down over time [8] - International arbitration work expanded geographically, with projects in Asia, Australia, Europe, the Middle East, and North America [8] Company Strategy and Development Direction - Exponent is focused on addressing technological challenges and leveraging its leadership in failure analysis to drive long-term growth [25] - The company aims to capitalize on long-term trends in engineering and scientific consulting, particularly in human factors and battery technology [11][37] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued execution and reiterated revenue guidance for the full year, expecting high-single-digit growth [5][23] - The company anticipates a decline in utilization in Q4 due to additional holidays and vacations, but expects long-term utilization to increase as it builds critical mass [15][20] Other Important Information - Exponent distributed $25.2 million to shareholders through dividends and ended the period with $210 million in cash and short-term investments [22] - The company expects capital expenditures to be between $20 million and $22 million for 2019, returning to approximately $6 million to $8 million annually after completing a new building in Boston [21] Q&A Session Summary Question: Update on large projects and PG&E - Management confirmed ongoing work with PG&E, which represented about 4% of revenue in the quarter, and highlighted the challenges faced by the client [27][28] Question: Expectations for growth rates and margins in 2020 - Management indicated that it is early in the planning process for 2020, but expects long-term growth in the high-single to low-double digits [33][34] Question: Opportunities in autonomous driving and other areas - Management highlighted human factors and battery technology as key growth drivers across multiple industries [36][37] Question: Specific timeline for revenue contribution step down from PG&E - Management stated that it is difficult to predict the timeline due to the dynamic nature of the situation [40] Question: Impact of Brexit on regulatory opportunities - Management noted that while they are monitoring the situation, they have not seen material effects yet [41] Question: Headcount growth expectations - Management expects headcount to grow in the 4% to 7% range to support business growth [50] Question: Progress on sales strategies and market approach - Management discussed the focus on business development planning across various industries and the positive outlook for cross-selling opportunities [52][53] Question: Success in battery technology markets - Management identified micro mobility and large-scale energy storage as key areas of growth in battery technology [65][66]