Financial Data and Key Metrics Changes - In Q4 2022, Korn Ferry generated $721 million in fee revenue, a new high, representing a 33% increase at constant currency compared to the previous year [6][20] - Adjusted EBITDA grew over $31 million or 28% year-over-year to $144 million, with an adjusted EBITDA margin of 20% [23] - Adjusted fully diluted earnings per share reached $1.75, improving $0.54 or 45% year-over-year [24] Business Line Data and Key Metrics Changes - RPO and professional search fee revenue grew to $213.5 million, up 77% year-over-year, with professional search revenue increasing approximately 142% [36][39] - Consulting fee revenue reached approximately $174 million, up 13% year-over-year, with adjusted EBITDA for consulting growing to $30.7 million [33][35] - Digital fee revenue was $89.5 million, up 11% year-over-year, with adjusted EBITDA of $27.7 million and a 31% adjusted EBITDA margin [30][32] Market Data and Key Metrics Changes - The company’s marquee and regional accounts generated over $950 million in revenue last year, demonstrating the strength of these relationships [12] - New business in RPO remained exceptionally strong with $213 million of new contract awards in Q4 [22] Company Strategy and Development Direction - Korn Ferry aims to become the premier organizational consultancy, focusing on an integrated go-to-market strategy and expanding digital capabilities [5][11] - The company is investing heavily in expanding its suite of technological and digital capabilities to help clients succeed in a changing environment [10][11] - Recent acquisitions, including Patina Solutions Group, are expected to enhance the professional search segment and provide new growth opportunities [48] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the ongoing labor shortages and the need for organizations to rethink their talent strategies in the post-COVID economy [15][16] - The company expects consolidated fee revenue in Q1 FY '23 to range from $680 million to $710 million, with adjusted diluted earnings per share between $1.42 and $1.58 [47] - Management remains optimistic about future growth, citing strong demand for their services despite potential economic headwinds [50] Other Important Information - The company repurchased approximately 1.47 million shares for about $99 million in FY '22 and announced a 25% increase in its quarterly dividend [27][28] - Korn Ferry's investable cash position at the end of Q4 was approximately $605 million, indicating strong financial health [25] Q&A Session Summary Question: Monthly new business trends and consulting performance - Management indicated that the consulting business is well-positioned and that historical patterns suggest a deceleration in new business is expected [53][54] Question: Digital growth factors - Management noted that the October quarter is typically the strongest for digital growth and that new sales professionals are being added to enhance performance [56][57] Question: Cross-selling initiatives and revenue from referrals - Cross referrals accounted for nearly 30% of revenue, indicating successful integration across business lines [58][59] Question: Impact of tech industry trends on professional search - The tech business saw sequential growth, and management remains optimistic about the professional search market despite industry fluctuations [62] Question: Durability of margins in a recession - Management discussed the potential for maintaining a minimum 5% EBITDA margin and the possibility of further real estate reductions based on office usage [66][67] Question: Revenue impact from new logo wins in RPO - Management indicated that significant revenue from new RPO contracts would not be realized until Q2 and beyond due to the nature of large engagements [70][71] Question: Demographic trends affecting searches - Management acknowledged that the labor force is aging, with a notable percentage of searches driven by retirements [81] Question: Hiring plans and wage inflation - The company continues to seek talent aggressively across various segments, with wage inflation observed in both professional and executive search [85][86]

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|----------|-------|-------|-------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | FY'22 Q4 | | | | | | | | | | Safe Harbor Statement FORWARD-LOOKING STATEMENTS Statements in this presentation that relate to future results and events are based on Korn Ferry's current expectations. You are cautioned not to pla ...

Part I. Financial Information [Consolidated Financial Statements](index=3&type=section&id=Item%201.%20Consolidated%20Financial%20Statements) This section presents the unaudited consolidated financial statements for the quarter ended January 31, 2022, highlighting significant year-over-year growth in revenue and net income Key Financial Highlights (Q3 FY2022 vs Q3 FY2021) | Financial Metric | Three Months Ended Jan 31, 2022 | Three Months Ended Jan 31, 2021 | | :--- | :--- | :--- | | **Total Revenue** | $685.0 million | $477.9 million | | **Operating Income** | $126.3 million | $65.2 million | | **Net Income Attributable to Korn Ferry** | $84.1 million | $51.3 million | | **Diluted EPS** | $1.54 | $0.94 | Key Balance Sheet Data | Balance Sheet Item | Jan 31, 2022 (unaudited) | April 30, 2021 | | :--- | :--- | :--- | | **Total Assets** | $3,336.1 million | $3,056.5 million | | **Total Liabilities** | $1,800.9 million | $1,687.8 million | | **Total Stockholders' Equity** | $1,535.2 million | $1,368.8 million | | **Cash and cash equivalents** | $846.5 million | $850.8 million | [Notes to Consolidated Unaudited Financial Statements](index=8&type=section&id=Notes%20to%20Consolidated%20Unaudited%20Financial%20Statements) This section details the company's accounting policies and financial data, covering business lines, revenue recognition, the Lucas Group acquisition, segment performance, debt, and employee stock plans - The company operates through **four main lines of business**: **Consulting, Digital, Executive Search, and RPO & Professional Search** Executive Search is managed geographically, representing four of the seven reportable segments[23](index=23&type=chunk)[102](index=102&type=chunk) - On November 1, 2021, the Company acquired **Lucas Group** for **$90.9 million**, net of cash acquired This acquisition is expected to enhance the RPO & Professional Search segment by adding professional search and contracting expertise[124](index=124&type=chunk)[125](index=125&type=chunk) - As of January 31, 2022, the company had **$400 million** in **4.625% Senior Unsecured Notes** due 2027 and a **$650 million revolving credit facility** with no outstanding balance[110](index=110&type=chunk)[113](index=113&type=chunk)[116](index=116&type=chunk) - On March 8, 2022, the Board of Directors declared a quarterly cash dividend of **$0.12 per share**[127](index=127&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=29&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations%20%28MD%26A%29) Management discusses the company's strong financial performance for Q3 and the first nine months of fiscal 2022, highlighting a **43% increase in fee revenue** and covering segment results, liquidity, and capital resources [Results of Operations](index=32&type=section&id=Results%20of%20Operations) The company experienced significant growth across all business lines, with fee revenue increasing **43% to $680.7 million** for the quarter and **52% to $1.91 billion** for the nine months, driven by increased demand and improved profitability Fee Revenue Growth by Segment (Q3 FY2022 vs Q3 FY2021) | Segment | Q3 FY22 Fee Revenue | YoY Growth | | :--- | :--- | :--- | | **Consulting** | $162.9M | 20% | | **Digital** | $90.2M | 19% | | **Executive Search** | $239.0M | 42% | | **RPO & Professional Search** | $188.7M | 98% | | **Total** | **$680.7M** | **43%** | Adjusted EBITDA by Segment (Q3 FY2022 vs Q3 FY2021) | Segment | Q3 FY22 Adjusted EBITDA | Q3 FY21 Adjusted EBITDA | | :--- | :--- | :--- | | **Consulting** | $28.6M | $27.5M | | **Digital** | $28.1M | $27.1M | | **Executive Search** | $65.7M | $41.7M | | **RPO & Professional Search** | $44.1M | $19.6M | | **Total Consolidated** | **$138.3M** | **$96.7M** | - The **RPO & Professional Search segment's** significant revenue growth was partially driven by the acquisition of **Lucas Group** on November 1, 2021[156](index=156&type=chunk) - Compensation and benefits expense increased by **37%** for the quarter, primarily due to higher performance-related bonuses and increased headcount corresponding to revenue growth[157](index=157&type=chunk) [Liquidity and Capital Resources](index=44&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains a strong liquidity position with **$1.11 billion** in cash and marketable securities, supporting capital allocation activities including the Lucas Group acquisition, increased dividends, and share repurchases - As of January 31, 2022, cash, cash equivalents, and marketable securities were **$1,107.3 million**[243](index=243&type=chunk) - The company has a **$650.0 million revolving credit facility**, with **$645.3 million available** for borrowing as of January 31, 2022[239](index=239&type=chunk) - The Board of Directors increased the quarterly dividend by **20%** to **$0.12 per share**, effective June 21, 2021[240](index=240&type=chunk) - The company repurchased approximately **$31.5 million** of its stock during the nine months ended January 31, 2022, with **$96.4 million remaining** available under the share repurchase program[241](index=241&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=47&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is exposed to market risks from foreign currency fluctuations and interest rate changes, primarily related to its global operations and variable-rate revolving credit facility - The company's primary foreign currency exposures are to the **Pound Sterling, Euro, Canadian Dollar, and Australian Dollar**, among others A hypothetical **10% change** in the value of these currencies could result in a foreign exchange gain or loss of **$12.8 million**[262](index=262&type=chunk) - Interest rate risk is linked to the **$650 million Revolver**, which bears interest at **LIBOR plus a margin (1.125% to 2.00%)** As of January 31, 2022, there were no amounts outstanding under the Revolver[263](index=263&type=chunk) [Controls and Procedures](index=48&type=section&id=Item%204.%20Controls%20and%20Procedures) The CEO and CFO concluded that disclosure controls and procedures were effective as of January 31, 2022, with no material changes to internal control over financial reporting - The CEO and CFO concluded that disclosure controls and procedures were **effective** as of January 31, 2022[266](index=266&type=chunk) - **No material changes** to internal control over financial reporting occurred during the three months ended January 31, 2022[266](index=266&type=chunk) Part II. Other Information [Legal Proceedings](index=49&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently involved in any legal proceedings expected to have a material adverse effect on its business or financial condition - The company is **not currently engaged** in any legal proceedings that are expected to be **materially adverse**[269](index=269&type=chunk) [Risk Factors](index=49&type=section&id=Item%201A.%20Risk%20Factors) No material changes have occurred to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the fiscal year ended April 30, 2021 - **No material changes** to the risk factors described in the Form 10-K have occurred[270](index=270&type=chunk) [Issuer Purchases of Equity Securities](index=49&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details the company's common stock repurchases during Q3 FY2022, including **304,500 shares** for **$22.1 million**, with **$96.4 million** remaining available under the program Share Repurchases (Quarter Ended Jan 31, 2022) | Period | Total Shares Purchased | Average Price Paid | Shares Purchased (Program) | Value Remaining in Program | | :--- | :--- | :--- | :--- | :--- | | Nov 2021 | 52,500 | $80.47 | 52,500 | $114.3M | | Dec 2021 | 81,453 | $75.56 | 80,000 | $108.2M | | Jan 2022 | 173,056 | $69.06 | 172,000 | $96.4M | | **Total** | **307,009** | **$72.74** | **304,500** | **$96.4M** | - The share repurchase program has **no expiration date** Repurchases are permitted as long as the company meets certain leverage and liquidity covenants under its Credit Agreement and Notes indenture[272](index=272&type=chunk)[273](index=273&type=chunk) [Exhibits](index=50&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including CEO and CFO certifications and Inline XBRL documents for financial reporting - Key exhibits filed include **CEO and CFO certifications** (Exhibits 31.1, 31.2, 32.1) and **Inline XBRL data files** (Exhibits 101 and 104)[275](index=275&type=chunk)

Korn Ferry (NYSE:KFY) Q3 2022 Earnings Conference Call March 9, 2022 12:00 PM ET Company Participants Gary Burnison – Chief Executive Officer Bob Rozek – Executive Vice President, Chief Financial Officer and Chief Corporate Officer Gregg Kvochak – Senior Vice President-Finance, Treasury, Tax, Investor Relations Conference Call Participants Tobey Sommer – Truist Securities George Tong – Goldman Sachs Mark Marcon – Baird Marc Riddick – Sidoti Operator Ladies and gentlemen, thank you for standing by, and welco ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|----------|-------|-------|-------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | FY'22 Q3 | | | | | | | | | | Safe Harbor Statement FORWARD-LOOKING STATEMENTS Statements in this presentation that relate to future results and events are based on Korn Ferry's current expectations. You are cautioned not to pla ...

Korn Ferry (NYSE:KFY) Q2 2022 Earnings Conference Call December 8, 2021 12:00 PM ET Company Participants Gary Burnison - Chief Executive Officer Robert Rozek - Chief Financial Officer, Executive Vice President, Chief Corporate Officer Gregg Kvochak - Senior Vice President of Investor Relations at Korn Ferry International Conference Call Participants Tobey Sommer - Truist Securities Tim Mulrooney - William Blair George Tong - Goldman Sachs Mark Marcon - Robert W. Baird Operator Ladies and gentlemen, thank yo ...

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 October 31, 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 001-14505 KORN FERRY (Exact Name of Registrant as Specified in its Charter) (State or Other Jurisdiction of ...

Korn Ferry (NYSE:KFY) Q1 Fiscal 2022 Earnings Conference Call September 8, 2021 12:00 PM ET Company Participants Gary Burnison – Chief Executive Officer Robert Rozek – Chief Financial Officer, Exec. VP Chief Corporate Officer Gregg Kvochak – Sr. Vice President Investor Relations at Korn Ferry International Conference Call Participants George Tong – Goldman Sachs Tim Mulrooney – William Blair Mark Marcon – Baird Marc Riddick – Sidoti Tobey Sommer – Truist Securities Operator Ladies and gentlemen, thank you f ...

< R KORN FERRY FY'22 Q1 Earnings Call September 8, 2021 Safe Harbor Statement FORWARD-LOOKING STATEMENTS Statements in this presentation that relate to future results and events are based on Korn Ferry's current expectations. You are cautioned not to place undue reliance on such statements. Actual results in future periods may differ materially from those currently expected because of a number of risks and uncertainties. For a detailed description of many of those risks and uncertainties, please refer to Ko ...

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 31, 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 001-14505 KORN FERRY (Exact Name of Registrant as Specified in its Charter) (State or Other Jurisdiction of Inc ...