Accessibility StatementSkip Navigation MENLO PARK, Calif., Sept. 10, 2025 /PRNewswire/ -- Global talent solutions and business consulting firm Robert Half (NYSE:Â RHI) has been honored as one of Fortune's 2025 Best Workplaces in Consulting & Professional Servicesâ"¢. This prestigious honor highlights the company's reputation as an employer of choice. Protiviti, Robert Half's consulting subsidiary, was also recognized. The Fortune Best Workplaces in Consulting & Professional Services list, compiled in partne ...

Accessibility StatementSkip Navigation MENLO PARK, Calif., Sept. 10, 2025 /PRNewswire/ -- Global consulting firm Protiviti has been named to two prestigious lists of top consulting firms. For the ninth consecutive year, Protiviti has earned a spot on the Fortune Best Workplaces in Consulting & Professional Servicesâ"¢ list, based on the analysis of survey responses from more than 149,000 U.S. employees of Great Place To Work-Certifiedâ"¢ companies in the consulting and professional services industry. The fi ...

Accessibility StatementSkip Navigation Innovative Leader and Expert in AI-Enabled Business Models to Enhance Protiviti's Expertise MENLO PARK, Calif., Sept. 5, 2025 /PRNewswire/ --Â Protiviti, a global consulting firm, announces the appointment of Amy Wilkinson to its advisory board, effective September 1, 2025. The advisory board provides essential market insights and strategic guidance to assist Protiviti and its clients in navigating today's complex business landscape. As the founder and CEO of Ingenuity ...

Group 1 - Factset Research Systems Inc. has been named "Stock to Study" by BetterInvesting Magazine for November 2025, indicating potential interest from investors regarding its stock valuation [1][2] - The upcoming issue will provide a comprehensive report on Factset's financial metrics, including sales, earnings, pre-tax profit, and return on equity, accessible through the National Association of Investors Corp. [2] - Robert Half Inc. has also been highlighted for further study from an undervalued perspective in the same issue of BetterInvesting Magazine [3] Group 2 - The Editorial Advisory and Securities Review Committee of BetterInvesting consists of several CFA members, indicating a level of expertise in their evaluations [3] - BetterInvesting is a nonprofit organization focused on investment education, having empowered over 5 million individuals since its inception in 1951 [5]

Core Viewpoint - Robert Half's recent earnings report shows a mixed performance with earnings and revenues beating estimates, but significant year-over-year declines raise concerns about future performance [2][10]. Financial Performance - Q2 fiscal 2026 earnings were reported at 41 cents per share, exceeding the consensus estimate by 2.5%, but down 37.9% year-over-year [2]. - Revenues for the quarter reached $1.37 billion, surpassing the consensus by 1.4%, yet reflecting a 7% decline year-over-year [2]. Segment Performance - Talent Solutions revenues were $874.521 million, down 11.3% year-over-year and below the estimate of $914.2 million [3]. - U.S. Talent Solutions revenues were $668 million, a decrease of 11% year-over-year [3]. - Protiviti revenues were $495.2 million, up 2% year-over-year but below expectations [4]. - U.S. Protiviti revenues decreased by 1% year-over-year, while non-U.S. revenues increased by 11% [4]. Currency Impact - Currency exchange rate movements contributed an additional $8 million to total revenues year-over-year, with $4 million attributed to both Talent Solutions and Protiviti [5]. Profitability Metrics - Adjusted gross profit was $522.3 million, down 9.9% year-over-year, with a gross profit margin of 39.1%, declining by 210 basis points [6]. Balance Sheet and Cash Flow - The company ended the quarter with cash and cash equivalents of $380.6 million, down from $547.4 million in the same quarter of the previous year [7]. - Operating cash flow was $119 million, with capital expenditures of $15.2 million and $59 million paid out in dividends [7]. Future Guidance - For Q3 2025, Robert Half expects revenues between $1.31 billion and $1.41 billion, with EPS projected between 37 cents and 47 cents [8]. - Capital expenditures for 2025 are anticipated to be between $75 million and $90 million, with $15 million to $25 million expected in Q3 [9]. Estimate Trends - Since the earnings release, there has been a downward trend in estimates, with a consensus estimate shift of -20.19% [10][11]. VGM Scores - Robert Half holds a Growth Score of B, a Momentum Score of C, and a Value Score of A, placing it in the top 20% for value investment strategy [12]. Overall Outlook - The overall trend in estimates indicates a downward shift, leading to a Zacks Rank of 4 (Sell), suggesting below-average returns in the coming months [13].

MENLO PARK, Calif., Aug. 21, 2025 /PRNewswire/ -- Global talent solutions and business consulting firm Robert Half (NYSE: RHI) has been named one of America's Best-In-State Employers 2025 by Forbes. The company earned the No. 1 spot for its industry in the state of California. Robert Half (NYSE: RHI) is the world's first and largest specialized talent solutions and business consulting firm, connecting highly skilled job seekers with rewarding opportunities at great companies. We offer contract talent and pe ...

Core Insights - The report emphasizes that strong data capabilities are essential for AI success, with 69% of organizations with high AI maturity expressing confidence in their data capabilities [1][3] - Effective governance, data engineering, analytics, and training are crucial for advancing AI maturity and improving ROI [1][3] AI Maturity Stages - Organizations progress through five stages of AI maturity, with Stage 5 representing the highest level where 97% of organizations report confidence in their data management capabilities [2][6] - At Stage 1, organizations recognize AI's potential but lack strategic initiatives, while by Stage 5, AI drives significant business transformation [6][7] Data Confidence and ROI - High data confidence correlates with exceeding AI investment expectations, as organizations with robust data governance are more likely to achieve meaningful outcomes [4][5] - 74% of organizations conduct regular data audits, a significant increase from 36% at Stage 1, indicating improved data practices [5] Barriers and Challenges - Despite advancements, 57% of AI-mature organizations still face challenges related to inadequate data governance [12] - Security and compliance concerns increase with maturity, with 59% of Stage 5 organizations citing these as top issues, up from 41% at Stage 1 [12] Sector and Role Insights - The technology and financial services sectors lead in data trust, while manufacturing and distribution lag behind [12] - Confidence in data increases with seniority, peaking at the C-suite level, indicating a correlation between leadership and data governance effectiveness [12]

Group 1: Industry Performance - The performance of human resource service providers in Europe and the US showed signs of stabilization in Q2 after a poor start to the year, with companies like ManpowerGroup, Robert Half, and Adecco reporting slight sequential profit growth as employers adapt to geopolitical and economic instability [1] - Adecco's Q2 earnings exceeded expectations due to a faster-than-expected increase in flexible positions, with the company anticipating better earnings in the second half of the year [4] - Robert Half's Q3 guidance fell below expectations, and the company reported a 16% decline in gross profit for the first half of the year due to weak recruitment activity in Europe [5] Group 2: Market Sentiment and Challenges - Despite some positive signs, the overall tone in the industry remains cautious, with companies warning of ongoing challenges ahead [4] - Analysts indicate that the job market is still sluggish, with manufacturing and professional services sectors experiencing slowed employment growth, which are key areas for ManpowerGroup and Robert Half [6] - In Europe, the job market is particularly dire, with the UK's unemployment rate reaching a four-year high and job vacancies falling below pre-pandemic levels, influenced by rising labor costs and government policies [6]

[Cover Page and Filing Information](index=1&type=section&id=Cover%20Page%20and%20Filing%20Information) [FORM 10-Q Filing Details](index=1&type=section&id=FORM%2010-Q%20Filing%20Details) This quarterly report for Robert Half Inc covers the period ending June 30, 2025, with 101,738,660 common shares outstanding - Robert Half Inc filed its quarterly report (FORM 10-Q) for the period ended June 30, 2025[2](index=2&type=chunk) Company Filing Information | Metric | Detail | | :--- | :--- | | Filing Type | Quarterly Report (FORM 10-Q) | | Quarter End Date | June 30, 2025 | | Registrant Name | ROBERT HALF INC | | State of Incorporation | Delaware | | Ticker Symbol | RHI | | Exchange | New York Stock Exchange | | Filer Status | Large Accelerated Filer | | Common Stock Outstanding (as of July 31, 2025) | 101,738,660 shares | | Common Stock Par Value | $0.001/share | [PART I—FINANCIAL INFORMATION](index=2&type=section&id=PART%20I%E2%80%94FINANCIAL%20INFORMATION) [ITEM 1. FINANCIAL STATEMENTS](index=2&type=section&id=ITEM%201.%20FINANCIAL%20STATEMENTS) This section presents the unaudited condensed consolidated financial statements for Robert Half Inc as of June 30, 2025 [CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (UNAUDITED)](index=2&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20FINANCIAL%20POSITION%20(UNAUDITED)) Condensed Consolidated Statements of Financial Position (Unaudited) | Metric (in thousands of USD) | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | 380,547 | 537,583 | | Accounts receivable, net | 826,872 | 772,285 | | Assets held in trust for employee deferred compensation | 716,782 | 673,240 | | Other current assets | 153,720 | 146,314 | | **Total current assets** | **2,077,921** | **2,129,422** | | Property and equipment, net | 129,870 | 119,564 | | Right-of-use assets | 202,869 | 198,384 | | Goodwill | 251,151 | 237,180 | | Noncurrent deferred income taxes | 156,542 | 158,120 | | Other noncurrent assets | 13,843 | 11,735 | | **Total assets** | **2,832,196** | **2,854,405** | | **Liabilities** | | | | Accounts payable and accrued expenses | 149,758 | 166,955 | | Accrued payroll and benefit costs | 396,564 | 372,785 | | Obligations under employee deferred compensation plans | 699,951 | 678,403 | | Income taxes payable | 7,078 | 2,977 | | Current operating lease liabilities | 69,275 | 64,619 | | **Total current liabilities** | **1,322,626** | **1,285,739** | | Noncurrent operating lease liabilities | 174,374 | 168,900 | | Other noncurrent liabilities | 23,278 | 21,763 | | **Total liabilities** | **1,520,278** | **1,476,402** | | **Stockholders' Equity** | | | | Common stock | 102 | 102 | | Additional paid-in capital | 1,341,843 | 1,418,150 | | Accumulated other comprehensive loss | (30,027) | (65,138) | | Retained earnings | — | 24,889 | | **Total stockholders' equity** | **1,311,918** | **1,378,003** | | **Total liabilities and stockholders' equity** | **2,832,196** | **2,854,405** | - As of June 30, 2025, total assets were **$2.832 billion**, a slight decrease from $2.854 billion on December 31, 2024; cash and cash equivalents decreased by **$157.04 million**, while net accounts receivable increased by **$54.59 million**[8](index=8&type=chunk) [CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)](index=3&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS%20(UNAUDITED)) Condensed Consolidated Statements of Operations (Unaudited) | Metric (in thousands of USD) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Service revenues | 1,369,743 | 1,472,524 | 2,721,650 | 2,948,461 | | Cost of services | 860,269 | 895,845 | 1,713,131 | 1,808,985 | | Gross profit | 509,474 | 576,679 | 1,008,519 | 1,139,476 | | Selling, general and administrative expenses | 507,934 | 501,136 | 968,097 | 1,023,035 | | Operating income | 1,540 | 75,543 | 40,422 | 116,441 | | Income from investments held in employee deferred compensation trusts | (57,654) | (15,733) | (37,483) | (59,109) | | Interest income, net | (2,239) | (5,186) | (5,811) | (11,599) | | Income before income taxes | 61,433 | 96,462 | 83,716 | 187,149 | | Provision for income taxes | 20,465 | 28,306 | 25,398 | 55,292 | | Net income | 40,968 | 68,156 | 58,318 | 131,857 | | **Net income per share** | | | | | | Basic | 0.41 | 0.66 | 0.58 | 1.27 | | Diluted | 0.41 | 0.66 | 0.58 | 1.27 | | Dividends per share | 0.59 | 0.53 | 1.18 | 1.06 | - Q2 2025 service revenues **decreased by 7.0%** year-over-year, with net income **down 39.9%**; H1 service revenues **decreased by 7.7%**, with net income **down 55.8%**[9](index=9&type=chunk) [CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)](index=4&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20COMPREHENSIVE%20INCOME%20(LOSS)%20(UNAUDITED)) Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) | Metric (in thousands of USD) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Net income | 40,968 | 68,156 | 58,318 | 131,857 | | Other comprehensive income (loss): | | | | | | Foreign currency translation adjustments, net of tax | 23,597 | (6,628) | 35,030 | (18,050) | | Foreign defined benefit plan adjustments, net of tax | 42 | 42 | 81 | 85 | | **Total other comprehensive income (loss)** | **23,639** | **(6,586)** | **35,111** | **(17,965)** | | **Total comprehensive income (loss)** | **64,607** | **61,570** | **93,429** | **113,892** | - Total comprehensive income for Q2 2025 was **$64.61 million**, a 4.9% year-over-year increase, while H1 total comprehensive income was **$93.43 million**, a 17.9% decrease[11](index=11&type=chunk) [CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED)](index=5&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20STOCKHOLDERS'%20EQUITY%20(UNAUDITED)) Condensed Consolidated Statements of Stockholders' Equity (Unaudited) | Metric (in thousands of USD) | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total Stockholders' Equity | 1,311,918 | 1,378,003 | | Net Income | 40,968 | 24,889 (Q1 2025) | | Other Comprehensive Income (Loss) | 23,639 | 11,472 (Q1 2025) | | Dividends Declared | (60,284) | (60,163) (Q1 2025) | | Stock Repurchases | (20,157) | (50,145) (Q1 2025) | | Stock Option Compensation | 14,530 | 16,705 (Q1 2025) | | Shares Issued (at end of period) | 101,739 | 102,199 | | Additional Paid-in Capital | 1,341,843 | 1,418,150 | | Accumulated Other Comprehensive Loss | (30,027) | (65,138) | - Total stockholders' equity decreased to **$1.312 billion** as of June 30, 2025, from $1.378 billion at year-end 2024, primarily due to dividends and stock repurchases[12](index=12&type=chunk) [CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)](index=6&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS%20(UNAUDITED)) Condensed Consolidated Statements of Cash Flows (Unaudited) | Metric (in thousands of USD) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | **Cash flows from operating activities:** | | | | Net income | 58,318 | 131,857 | | Net cash provided by operating activities | 60,030 | 126,035 | | **Cash flows from investing activities:** | | | | Capital expenditures | (27,573) | (24,174) | | Investments in employee deferred compensation trusts | (51,135) | (42,718) | | Proceeds from redemptions of investments in employee deferred compensation trusts | 40,081 | 29,695 | | Net cash paid for acquisitions | (10,114) | (264) | | Net cash used in investing activities | (48,741) | (37,461) | | **Cash flows from financing activities:** | | | | Repurchases of common stock | (70,999) | (146,191) | | Dividends paid | (120,659) | (112,248) | | Net cash used in financing activities | (191,658) | (258,439) | | Effect of exchange rate changes on cash | 23,333 | (14,505) | | Change in cash and cash equivalents | (157,036) | (184,370) | | Cash and cash equivalents at beginning of period | 537,583 | 731,740 | | Cash and cash equivalents at end of period | 380,547 | 547,370 | - In H1 2025, net cash from operating activities was **$60.03 million**, a 52.3% year-over-year decrease, leading to a reduction in ending cash and cash equivalents to **$380.55 million**[13](index=13&type=chunk) [NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)](index=7&type=section&id=NOTES%20TO%20CONDENSED%20CONSOLIDATED%20FINANCIAL%20STATEMENTS%20(UNAUDITED)) [Note A—Summary of Significant Accounting Policies](index=7&type=section&id=Note%20A%E2%80%94Summary%20of%20Significant%20Accounting%20Policies) This note outlines the company's business nature, basis of preparation, accounting estimates, and policies for revenue recognition and fair value measurements - The company provides professional talent solutions and business consulting services globally, including contract and permanent placement talent and Protiviti consulting[15](index=15&type=chunk) - Income from investments in employee deferred compensation trusts is fully offset by related costs and has no impact on net income[23](index=23&type=chunk) - The company's financial instruments, including cash equivalents and deferred compensation trust assets, are measured at fair value using Level 1 inputs (quoted market prices)[25](index=25&type=chunk)[28](index=28&type=chunk) Income from Investments Held in Employee Deferred Compensation Trusts (in thousands of USD) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Dividend income | (3,055) | (2,627) | (4,995) | (4,698) | | Realized and unrealized gains | (54,599) | (13,106) | (32,488) | (54,411) | | **Total investment income** | **(57,654)** | **(15,733)** | **(37,483)** | **(59,109)** | [Note B—New Accounting Pronouncements](index=10&type=section&id=Note%20B%E2%80%94New%20Accounting%20Pronouncements) This note discusses recently adopted and issued accounting standards, including FASB updates on income tax and income statement disclosures - FASB ASU No 2023-09, effective for annual periods after December 15, 2024, requires enhanced disclosure of income tax rate reconciliation items[33](index=33&type=chunk) - FASB ASU 2024-03, effective for annual periods after December 15, 2026, will require disaggregation of certain income statement expense captions[33](index=33&type=chunk) - The company anticipates these new standards will alter disclosures but not materially impact its financial results or condition[33](index=33&type=chunk) [Note C—Revenue Recognition](index=10&type=section&id=Note%20C%E2%80%94Revenue%20Recognition) This note details revenue recognition policies for the company's three business segments and provides a breakdown of revenues by functional specialization - Contract talent solutions revenue is recognized over time as services are rendered, with the company acting as the principal[35](index=35&type=chunk)[36](index=36&type=chunk) - Permanent placement talent solutions revenue is recognized at the point in time a candidate accepts an offer of permanent employment[40](index=40&type=chunk) - Protiviti consulting services revenue is recognized over time using a cost-to-cost measure of progress for performance obligations[41](index=41&type=chunk) Service Revenues by Functional Specialization and Segment (in thousands of USD) | Segment/Specialization | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | **Contract Talent Solutions** | | | | | | Finance and accounting | 555,626 | 623,120 | 1,118,559 | 1,265,090 | | Administrative and customer support | 165,591 | 190,344 | 331,218 | 390,276 | | Technology | 158,403 | 157,899 | 310,945 | 315,869 | | Intersegment revenue eliminations | (119,812) | (116,466) | (237,709) | (229,280) | | **Total Contract Talent Solutions** | **759,808** | **854,897** | **1,523,013** | **1,741,955** | | **Permanent Placement Talent Solutions** | **114,713** | **131,063** | **226,804** | **255,830** | | **Protiviti** | **495,222** | **486,564** | **971,833** | **950,676** | | **Total Service Revenues** | **1,369,743** | **1,472,524** | **2,721,650** | **2,948,461** | [Note D—Other Current Assets](index=12&type=section&id=Note%20D%E2%80%94Other%20Current%20Assets) This note details the components of other current assets, primarily consisting of prepaid expenses and unamortized cloud computing implementation costs - Other current assets totaled **$153.72 million** as of June 30, 2025, a 5.06% increase from December 31, 2024[48](index=48&type=chunk) Other Current Assets (in thousands of USD) | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Prepaid expenses | 71,180 | 64,185 | | Unamortized cloud computing implementation costs, current | 24,957 | 28,417 | | Other | 57,583 | 53,712 | | **Total other current assets** | **153,720** | **146,314** | [Note E—Property and Equipment, Net](index=12&type=section&id=Note%20E%E2%80%94Property%20and%20Equipment,%20Net) This note provides a detailed breakdown of the company's property and equipment, including computer hardware, software, and leasehold improvements - Net property and equipment increased by **8.62%** to **$129.87 million** as of June 30, 2025, driven by additions to computer software and leasehold improvements[49](index=49&type=chunk) Property and Equipment, Net (in thousands of USD) | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Computer hardware | 118,375 | 131,059 | | Computer software | 233,650 | 224,609 | | Furniture and equipment | 97,792 | 96,288 | | Leasehold improvements | 207,454 | 200,565 | | **Cost of property and equipment** | **657,271** | **652,521** | | Accumulated depreciation | (527,401) | (532,957) | | **Property and equipment, net** | **129,870** | **119,564** | [Note F—Other Noncurrent Assets](index=13&type=section&id=Note%20F%E2%80%94Other%20Noncurrent%20Assets) This note lists the components of other noncurrent assets, primarily unamortized cloud computing implementation costs and other intangible assets - Total other noncurrent assets grew by **17.96%** to **$13.84 million** as of June 30, 2025, mainly due to an increase in other net intangible assets[52](index=52&type=chunk) Other Noncurrent Assets (in thousands of USD) | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Unamortized cloud computing implementation costs, noncurrent | 10,969 | 10,517 | | Other intangible assets, net | 2,874 | 1,218 | | **Total other noncurrent assets** | **13,843** | **11,735** | [Note G—Leases](index=13&type=section&id=Note%20G%E2%80%94Leases) This note provides detailed information on the company's operating leases, including lease terms, costs, and future minimum lease payments - The company leases corporate and field offices and certain equipment with lease terms ranging from less than one year to 11 years[53](index=53&type=chunk) Lease-Related Financial Data (in thousands of USD) | Metric | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Operating lease cost (three months) | 19,800 | 21,200 | | Operating lease cost (six months) | 39,800 | 42,400 | | Cash paid for amounts included in operating lease liabilities | 39,082 | 45,284 | | Right-of-use assets obtained in exchange for new operating lease liabilities | 37,696 | 40,668 | | Weighted-average remaining lease term | 4.6 years (2025) | 4.6 years (2024) | | Weighted-average discount rate | 4.0% (2025) | 3.9% (2024) | Future Minimum Lease Payments (in thousands of USD) | Year | Amount | | :--- | :--- | | 2025 (excluding six months ended) | 40,845 | | 2026 | 70,794 | | 2027 | 51,330 | | 2028 | 37,419 | | 2029 | 26,943 | | Thereafter | 43,801 | | Less: Imputed interest | (27,483) | | **Present value of operating lease liabilities** | **243,649** | [Note H—Goodwill](index=14&type=section&id=Note%20H%E2%80%94Goodwill) This note discloses changes in the company's goodwill, including balances by business segment, additions from acquisitions, and foreign currency adjustments - Goodwill increased by **5.97%** to **$251.15 million** as of June 30, 2025, primarily due to **$12.1 million** in goodwill recognized from two acquisitions in April 2025[58](index=58&type=chunk) Changes in Goodwill (in thousands of USD) | Segment | Balance at Dec 31, 2024 | Acquisitions | Foreign Currency Translation | Balance at June 30, 2025 | | :--- | :--- | :--- | :--- | :--- | | Contract Talent Solutions | 133,938 | 1,205 | 607 | 135,750 | | Permanent Placement Talent Solutions | 26,063 | 235 | 118 | 26,416 | | Protiviti | 77,179 | 10,667 | 1,139 | 88,985 | | **Total** | **237,180** | **12,107** | **1,864** | **251,151** | [Note I—Accrued Payroll and Benefit Costs](index=14&type=section&id=Note%20I%E2%80%94Accrued%20Payroll%20and%20Benefit%20Costs) This note details the components of accrued payroll and benefit costs, including salaries, benefits, payroll taxes, and workers' compensation - Total accrued payroll and benefit costs increased by **6.38%** to **$396.56 million** as of June 30, 2025, driven by higher accrued salaries and benefits[59](index=59&type=chunk) Accrued Payroll and Benefit Costs (in thousands of USD) | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Salaries and benefits | 354,949 | 330,803 | | Payroll taxes | 29,270 | 29,513 | | Workers' compensation | 12,345 | 12,469 | | **Total accrued payroll and benefit costs** | **396,564** | **372,785** | [Note J—Employee Deferred Compensation Plan Obligations](index=14&type=section&id=Note%20J%E2%80%94Employee%20Deferred%20Compensation%20Plan%20Obligations) This note describes the company's qualified and non-qualified deferred compensation plans and discloses related asset and liability values - The company offers qualified 401(k) and non-qualified deferred compensation plans; the non-qualified plan had assets of **$716.8 million** and liabilities of **$700.0 million** as of June 30, 2025[60](index=60&type=chunk)[61](index=61&type=chunk) Deferred Compensation Plan Contribution Expense (in thousands of USD) | Period | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Contribution Expense | 11,600 | 11,400 | 25,300 | 24,800 | [Note K—Commitments and Contingencies](index=15&type=section&id=Note%20K%E2%80%94Commitments%20and%20Contingencies) This note discloses legal proceedings and contingencies, including two class action lawsuits, and details a new $100 million credit agreement - The company is facing two class action lawsuits: the Jessica Gentry case (unpaid interview time) and the Shari Dorff case (recruiter misclassification)[64](index=64&type=chunk)[65](index=65&type=chunk) - Management believes it has meritorious defenses to these claims and has not recorded a provision for potential losses[64](index=64&type=chunk)[65](index=65&type=chunk) - On May 28, 2025, the company entered into a **$100 million credit agreement** maturing in May 2030, with no cash borrowings drawn as of June 30, 2025[67](index=67&type=chunk) [Note L—Stockholders' Equity](index=16&type=section&id=Note%20L%E2%80%94Stockholders'%20Equity) This note details the company's stock repurchase program, including the number of shares repurchased and associated costs - As of June 30, 2025, the company was authorized to repurchase up to **6.2 million** additional shares of its common stock[70](index=70&type=chunk) Common Stock Repurchases (in thousands of shares/USD) | Metric | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Common stock repurchases (shares) | 1,128 | 1,660 | | Common stock repurchases (cost) | 59,378 | 121,272 | | Repurchases related to employee stock plans (shares) | 191 | 271 | | Repurchases related to employee stock plans (cost) | 10,924 | 21,435 | [Note M—Net Income Per Share](index=16&type=section&id=Note%20M%E2%80%94Net%20Income%20Per%20Share) This note provides the calculation details for basic and diluted net income per share, including weighted-average shares outstanding - Q2 2025 basic and diluted EPS were both **$0.41**, down from $0.66 in the prior-year period; H1 basic and diluted EPS were both **$0.58**, down significantly from $1.27[72](index=72&type=chunk) Net Income Per Share Calculation (in thousands of shares/USD) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Net income | 40,968 | 68,156 | 58,318 | 131,857 | | Basic weighted-average shares | 100,410 | 103,151 | 100,537 | 103,469 | | Diluted weighted-average shares | 100,539 | 103,328 | 100,776 | 103,864 | | **Basic net income per share** | **0.41** | **0.66** | **0.58** | **1.27** | | **Diluted net income per share** | **0.41** | **0.66** | **0.58** | **1.27** | [Note N—Business Segments](index=17&type=section&id=Note%20N%E2%80%94Business%20Segments) This note provides financial information for the company's three reportable segments: Contract Talent Solutions, Permanent Placement Talent Solutions, and Protiviti - The company operates three reportable segments, and the chief operating decision maker uses segment income to evaluate performance and allocate resources[75](index=75&type=chunk)[76](index=76&type=chunk) Service Revenues and Segment Income by Segment (in thousands of USD) | Segment | Q2 2025 Service Revenues | Q2 2024 Service Revenues | Q2 2025 Segment Income | Q2 2024 Segment Income | | :--- | :--- | :--- | :--- | :--- | | Contract Talent Solutions | 759,808 | 854,897 | 18,423 | 38,146 | | Permanent Placement Talent Solutions | 114,713 | 131,063 | 8,259 | 16,148 | | Protiviti | 495,222 | 486,564 | 32,512 | 36,982 | | **Total** | **1,369,743** | **1,472,524** | **59,194** | **91,276** | Depreciation Expense by Segment (in thousands of USD) | Segment | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Contract Talent Solutions | 6,219 | 6,364 | 12,717 | 12,957 | | Permanent Placement Talent Solutions | 2,043 | 2,047 | 4,141 | 4,271 | | Protiviti | 4,340 | 4,105 | 8,750 | 8,292 | | **Total Depreciation Expense** | **12,602** | **12,516** | **25,608** | **25,520** | [Note O—Subsequent Events](index=19&type=section&id=Note%20O%E2%80%94Subsequent%20Events) This note discloses the declaration of a quarterly cash dividend on August 4, 2025 Quarterly Dividend Declaration Details | Metric | Detail | | :--- | :--- | | Quarterly Dividend Per Share | $0.59 | | Declaration Date | August 4, 2025 | | Record Date | August 25, 2025 | | Payment Date | September 15, 2025 | [ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=20&type=section&id=ITEM%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section provides management's perspective on the company's financial condition, results of operations, liquidity, and capital resources [Forward-Looking Statements](index=20&type=section&id=Forward-Looking%20Statements) This section clarifies that forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially - Forward-looking statements are subject to risks including global economic conditions, competition, government regulation, and cybersecurity threats, among others[86](index=86&type=chunk) [Executive Overview](index=20&type=section&id=Executive%20Overview) This overview summarizes financial performance for Q2 and H1 2025, noting that economic uncertainty has led to a slowdown in hiring activity - Q2 2025 results met management's expectations, but global economic uncertainty has led to client and candidate caution and slower decision-making[87](index=87&type=chunk) - The US labor market remains resilient, with a **3.0%** GDP growth rate in Q2 2025 and a low unemployment rate of **2.5%** for professionals with a college degree[88](index=88&type=chunk)[89](index=89&type=chunk) - The company continues to invest in technology and AI to enhance digital experiences and improve talent acquisition tools[91](index=91&type=chunk) Key Financial Metrics for H1 2025 | Metric | Amount | | :--- | :--- | | Service Revenues | $2.72 billion | | Year-over-Year Change | -7.7% | | Net Income | $58 million | | Diluted Net Income Per Share | $0.58 | [Critical Accounting Policies and Estimates](index=21&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) This section confirms there have been no material changes to the company's critical accounting policies and estimates during the first half of 2025 - There have been no material changes to the company's critical accounting policies and estimates during the six months ended June 30, 2025[93](index=93&type=chunk) [Recent Accounting Pronouncements](index=21&type=section&id=Recent%20Accounting%20Pronouncements) This section refers to Note B of the financial statements for a detailed discussion of new accounting standards - For information on recent accounting pronouncements, refer to Note B to the Financial Statements in Part I, Item 1 of this report[94](index=94&type=chunk) [Results of Operations](index=21&type=section&id=Results%20of%20Operations) This section analyzes the operating results of the company's three reportable segments for the three and six months ended June 30, 2025 - The company's operating results are analyzed across its three reportable segments: Contract Talent Solutions, Permanent Placement Talent Solutions, and Protiviti[95](index=95&type=chunk) - Demand for the company's services is highly dependent on global economic and labor market trends, making future demand difficult to predict[96](index=96&type=chunk) [Non-GAAP Financial Measures](index=22&type=section&id=Non-GAAP%20Financial%20Measures) This section defines the non-GAAP financial measures used by the company to supplement its GAAP results and aid in performance analysis - The company uses non-GAAP measures such as adjusted gross profit and adjusted revenue growth to provide additional insight into operational performance[97](index=97&type=chunk)[98](index=98&type=chunk)[99](index=99&type=chunk) - Adjusted revenue growth is calculated by removing the impacts of billing day variations and foreign currency exchange rates[99](index=99&type=chunk) [Three Months Ended June 30, 2025 and 2024](index=22&type=section&id=Three%20Months%20Ended%20June%2030,%202025%20and%202024) This section provides a detailed comparative analysis of the company's operating results for the second quarter of 2025 versus 2024 [Service Revenues_Q2](index=22&type=section&id=Service%20Revenues_Q2) Q2 2025 service revenues decreased 7.0% year-over-year, with declines in both contract and permanent placement solutions, partially offset by growth in Protiviti - The decline in Contract Talent Solutions revenue was driven by a **15.4% decrease** in hours worked, while Permanent Placement revenue fell due to an **18.0% drop** in placements[103](index=103&type=chunk)[105](index=105&type=chunk) Q2 2025 Service Revenues (in thousands of USD) | Metric | June 30, 2025 | June 30, 2024 | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Service Revenues | 1,369,743 | 1,472,524 | -7.0% | | U.S. Revenues | 1,060,000 | 1,150,000 | -7.4% | | International Revenues | 306,000 | 323,000 | -5.3% | | Contract Talent Solutions Revenues | 760,000 | 855,000 | -11.1% | | Permanent Placement Talent Solutions Revenues | 115,000 | 131,000 | -12.5% | | Protiviti Revenues | 495,000 | 487,000 | +1.8% | [Gross Margin_Q2](index=23&type=section&id=Gross%20Margin_Q2) Q2 2025 gross profit decreased 11.7% year-over-year, with gross margin rates declining across the Contract Talent Solutions and Protiviti segments Q2 2025 Gross Profit (in thousands of USD) | Metric | June 30, 2025 | June 30, 2024 | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Gross Profit | 509,474 | 576,679 | -11.7% | | Contract Talent Solutions Gross Profit | 297,367 | 336,161 | -11.5% | | Permanent Placement Talent Solutions Gross Profit | 114,551 | 130,801 | -12.4% | | Protiviti Gross Profit | 97,556 | 109,717 | -11.1% | Q2 2025 Gross Margin (%) | Segment | June 30, 2025 (Reported) | June 30, 2024 (Reported) | June 30, 2025 (Adjusted) | June 30, 2024 (Adjusted) | | :--- | :--- | :--- | :--- | :--- | | Contract Talent Solutions | 39.1% | 39.3% | 39.1% | 39.3% | | Permanent Placement Talent Solutions | 99.9% | 99.8% | 99.9% | 99.8% | | Protiviti | 19.7% | 22.5% | 22.3% | 23.2% | | **Total** | **37.2%** | **39.2%** | **38.1%** | **39.4%** | [Selling, General and Administrative Expenses_Q2](index=25&type=section&id=Selling,%20General%20and%20Administrative%20Expenses_Q2) Q2 2025 SG&A expenses increased 1.4% year-over-year, and as a percentage of revenue, adjusted SG&A rose from 33.2% to 33.8% due to negative leverage Q2 2025 Selling, General and Administrative Expenses (in thousands of USD) | Metric | June 30, 2025 (Reported) | June 30, 2024 (Reported) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total SG&A Expenses | 507,934 | 501,136 | +1.4% | | Contract Talent Solutions | 318,871 | 308,886 | +3.2% | | Permanent Placement Talent Solutions | 111,218 | 116,285 | -4.4% | | Protiviti | 77,845 | 75,965 | +2.5% | Q2 2025 SG&A Expenses as a Percentage of Revenue (%) | Segment | June 30, 2025 (Reported) | June 30, 2024 (Reported) | June 30, 2025 (Adjusted) | June 30, 2024 (Adjusted) | | :--- | :--- | :--- | :--- | :--- | | Contract Talent Solutions | 42.0% | 36.1% | 36.7% | 34.9% | | Permanent Placement Talent Solutions | 97.0% | 88.7% | 92.7% | 87.5% | | Protiviti | 15.7% | 15.6% | 15.7% | 15.6% | | **Total** | **37.1%** | **34.0%** | **33.8%** | **33.2%** | [Operating Income_Q2](index=26&type=section&id=Operating%20Income_Q2) Q2 2025 operating income declined sharply by 98.0% year-over-year to $2 million, with the adjusted operating margin falling from 6.2% to 4.3% Q2 2025 Operating Income (in thousands of USD) | Metric | June 30, 2025 (Reported) | June 30, 2024 (Reported) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Income | 1,540 | 75,543 | -98.0% | | Contract Talent Solutions | (21,504) | 27,275 | -178.8% | | Permanent Placement Talent Solutions | 3,333 | 14,516 | -77.1% | | Protiviti | 19,711 | 33,752 | -41.6% | Q2 2025 Operating Income as a Percentage of Revenue (%) | Segment | June 30, 2025 (Reported) | June 30, 2024 (Reported) | June 30, 2025 (Adjusted) | June 30, 2024 (Adjusted) | | :--- | :--- | :--- | :--- | :--- | | Contract Talent Solutions | (2.8%) | 3.2% | 2.4% | 4.5% | | Permanent Placement Talent Solutions | 2.9% | 11.1% | 7.2% | 12.3% | | Protiviti | 4.0% | 6.9% | 6.6% | 7.6% | | **Total** | **0.1%** | **5.1%** | **4.3%** | **6.2%** | [Income from Investments Held in Employee Deferred Compensation Trusts_Q2](index=27&type=section&id=Income%20from%20Investments%20Held%20in%20Employee%20Deferred%20Compensation%20Trusts_Q2) Q2 2025 investment income from employee deferred compensation trusts was $58 million, a significant increase from $16 million in the prior-year period - The increase in investment income was primarily attributable to positive market returns during the second quarter of 2025[123](index=123&type=chunk) Q2 2025 Income from Investments Held in Employee Deferred Compensation Trusts (in thousands of USD) | Metric | June 30, 2025 | June 30, 2024 | YoY Change (%) | | :--- | :--- | :--- | :--- | | Investment Income | 58,000 | 16,000 | +262.5% | [Provision for income taxes_Q2](index=27&type=section&id=Provision%20for%20income%20taxes_Q2) The effective tax rate for Q2 2025 was 33.3%, up from 29.3% in the prior-year period, due to the impact of non-deductible expenses on lower pre-tax income - The higher tax rate in 2025 is attributed to the increased impact of non-deductible expenses on lower pre-tax income[124](index=124&type=chunk) - The company is currently evaluating the potential impact of the "One Big Beautiful Bill Act," a new U.S. tax law enacted on July 4, 2025[125](index=125&type=chunk) Q2 2025 Provision for Income Taxes (%) | Period | June 30, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Effective Tax Rate | 33.3% | 29.3% | [Six Months Ended June 30, 2025 and 2024](index=27&type=section&id=Six%20Months%20Ended%20June%2030,%202025%20and%202024) This section provides a detailed comparative analysis of the company's operating results for the first half of 2025 versus 2024 [Service Revenues_H1](index=27&type=section&id=Service%20Revenues_H1) H1 2025 service revenues decreased 7.7% year-over-year, with declines in both contract and permanent placement solutions, partially offset by growth in Protiviti - The decline in Contract Talent Solutions revenue was driven by a **15.8% decrease** in hours worked, while Permanent Placement revenue fell due to a **14.8% drop** in placements[127](index=127&type=chunk)[128](index=128&type=chunk) H1 2025 Service Revenues (in thousands of USD) | Metric | June 30, 2025 | June 30, 2024 | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Service Revenues | 2,721,650 | 2,948,461 | -7.7% | | U.S. Revenues | 2,130,000 | 2,290,000 | -7.2% | | International Revenues | 594,000 | 657,000 | -9.5% | | Contract Talent Solutions Revenues | 1,520,000 | 1,740,000 | -12.6% | | Permanent Placement Talent Solutions Revenues | 227,000 | 256,000 | -11.3% | | Protiviti Revenues | 972,000 | 951,000 | +2.2% | [Gross Margin_H1](index=28&type=section&id=Gross%20Margin_H1) H1 2025 gross profit decreased 11.5% year-over-year, with gross margin rates declining across the Contract Talent Solutions and Protiviti segments H1 2025 Gross Profit (in thousands of USD) | Metric | June 30, 2025 | June 30, 2024 | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Gross Profit | 1,008,519 | 1,139,476 | -11.5% | | Contract Talent Solutions Gross Profit | 594,300 | 686,731 | -13.5% | | Permanent Placement Talent Solutions Gross Profit | 226,412 | 255,349 | -11.3% | | Protiviti Gross Profit | 187,807 | 197,396 | -4.9% | H1 2025 Gross Margin (%) | Segment | June 30, 2025 (Reported) | June 30, 2024 (Reported) | June 30, 2025 (Adjusted) | June 30, 2024 (Adjusted) | | :--- | :--- | :--- | :--- | :--- | | Contract Talent Solutions | 39.0% | 39.4% | 39.0% | 39.4% | | Permanent Placement Talent Solutions | 99.8% | 99.8% | 99.8% | 99.8% | | Protiviti | 19.3% | 20.8% | 20.2% | 22.0% | | **Total** | **37.1%** | **38.6%** | **37.4%** | **39.0%** | [Selling, General and Administrative Expenses_H1](index=30&type=section&id=Selling,%20General%20and%20Administrative%20Expenses_H1) H1 2025 SG&A expenses decreased 5.4% year-over-year, but as a percentage of revenue, adjusted SG&A rose from 33.1% to 34.5% due to negative leverage H1 2025 Selling, General and Administrative Expenses (in thousands of USD) | Metric | June 30, 2025 (Reported) | June 30, 2024 (Reported) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total SG&A Expenses | 968,097 | 1,023,035 | -5.4% | | Contract Talent Solutions | 595,083 | 640,474 | -7.1% | | Permanent Placement Talent Solutions | 217,353 | 232,861 | -6.7% | | Protiviti | 155,661 | 149,700 | +4.0% | H1 2025 SG&A Expenses as a Percentage of Revenue (%) | Segment | June 30, 2025 (Reported) | June 30, 2024 (Reported) | June 30, 2025 (Adjusted) | June 30, 2024 (Adjusted) | | :--- | :--- | :--- | :--- | :--- | | Contract Talent Solutions | 39.1% | 36.8% | 37.4% | 34.4% | | Permanent Placement Talent Solutions | 95.8% | 91.0% | 94.6% | 88.9% | | Protiviti | 16.0% | 15.7% | 16.0% | 15.7% | | **Total** | **35.6%** | **34.7%** | **34.5%** | **33.1%** | [Operating Income_H1](index=31&type=section&id=Operating%20Income_H1) H1 2025 operating income declined sharply by 65.3% year-over-year to $40 million, with the adjusted operating margin falling from 6.0% to 2.9% H1 2025 Operating Income (in thousands of USD) | Metric | June 30, 2025 (Reported) | June 30, 2024 (Reported) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Income | 40,422 | 116,441 | -65.3% | | Contract Talent Solutions | (783) | 46,257 | -101.7% | | Permanent Placement Talent Solutions | 9,059 | 22,488 | -59.7% | | Protiviti | 32,146 | 47,696 | -32.6% | H1 2025 Operating Income as a Percentage of Revenue (%) | Segment | June 30, 2025 (Reported) | June 30, 2024 (Reported) | June 30, 2025 (Adjusted) | June 30, 2024 (Adjusted) | | :--- | :--- | :--- | :--- | :--- | | Contract Talent Solutions | (0.1%) | 2.7% | 1.6% | 5.1% | | Permanent Placement Talent Solutions | 4.0% | 8.8% | 5.2% | 10.9% | | Protiviti | 3.3% | 5.0% | 4.2% | 6.2% | | **Total** | **1.5%** | **3.9%** | **2.9%** | **6.0%** | [Income from Investments Held in Employee Deferred Compensation Trusts_H1](index=32&type=section&id=Income%20from%20Investments%20Held%20in%20Employee%20Deferred%20Compensation%20Trusts_H1) H1 2025 investment income from employee deferred compensation trusts was $37 million, a decrease from $59 million in the prior-year period - The investment income was generated from positive market returns during the first half of 2025[146](index=146&type=chunk) H1 2025 Income from Investments Held in Employee Deferred Compensation Trusts (in thousands of USD) | Metric | June 30, 2025 | June 30, 2024 | YoY Change (%) | | :--- | :--- | :--- | :--- | | Investment Income | 37,000 | 59,000 | -37.2% | [Provision for income taxes_H1](index=32&type=section&id=Provision%20for%20income%20taxes_H1) The effective tax rate for H1 2025 was 30.3%, slightly higher than the 29.5% rate in the prior-year period H1 2025 Provision for Income Taxes (%) | Period | June 30, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Effective Tax Rate | 30.3% | 29.5% | [Liquidity and Capital Resources](index=32&type=section&id=Liquidity%20and%20Capital%20Resources) This section discusses the company's liquidity position and capital resources, analyzing cash flows from operating, investing, and financing activities - The company's liquidity is primarily influenced by cash from operations and its use for capital expenditures, stock repurchases, and dividends[148](index=148&type=chunk) - In H1 2025, operating activities provided **$60 million** in net cash, while investing and financing activities used **$49 million** and **$192 million**, respectively[149](index=149&type=chunk) - The company anticipates capital expenditures for 2025 to be between **$75 million** and **$90 million**[152](index=152&type=chunk) - During H1 2025, the company repurchased **1.1 million** shares for **$59 million** and paid **$121 million** in dividends[153](index=153&type=chunk)[154](index=154&type=chunk) - The company entered into a **$100 million credit agreement** on May 28, 2025, with no borrowings outstanding as of June 30, 2025[157](index=157&type=chunk) Cash and Cash Equivalents (in thousands of USD) | Period | June 30, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Cash and Cash Equivalents | 381,000 | 547,000 | [Material Cash Requirements from Contractual Obligations](index=33&type=section&id=Material%20Cash%20Requirements%20from%20Contractual%20Obligations) This section outlines the company's primary contractual cash requirements, including lease liabilities and employee deferred compensation plan obligations - As of June 30, 2025, the company had current and long-term operating lease liabilities of **$69 million** and **$175 million**, respectively[159](index=159&type=chunk) - Purchase obligations did not change materially during the first half of 2025[161](index=161&type=chunk) - Employee deferred compensation plan obligations totaled **$700 million** as of June 30, 2025, and are funded by investment trust assets that exceed the obligation[162](index=162&type=chunk) [ITEM 3. Quantitative and Qualitative Disclosures About Market Risk](index=34&type=section&id=ITEM%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section discloses the company's exposure to market risks, primarily related to foreign currency exchange rate fluctuations - Approximately **21.8%** of the company's revenues are generated outside the U.S., exposing it to foreign currency exchange rate risk[163](index=163&type=chunk)[164](index=164&type=chunk) - In H1 2025, currency fluctuations decreased reported service revenues by **$4.2 million** (0.1%) and net income by **$0.1 million** (0.4%)[165](index=165&type=chunk) - Exchange rate movements impact reported results but generally do not result in realized economic gains or losses or affect cash flows[167](index=167&type=chunk) [ITEM 4. Controls and Procedures](index=35&type=section&id=ITEM%204.%20Controls%20and%20Procedures) This section confirms management's evaluation of disclosure controls and procedures, concluding they were effective as of the end of the reporting period - Management has evaluated and concluded that the company's disclosure controls and procedures were effective as of the end of the reporting period[168](index=168&type=chunk) - There were no material changes to the company's internal controls during the three months ended June 30, 2025[168](index=168&type=chunk) [PART II—OTHER INFORMATION](index=36&type=section&id=PART%20II%E2%80%94OTHER%20INFORMATION) [ITEM 1. Legal Proceedings](index=36&type=section&id=ITEM%201.%20Legal%20Proceedings) This section states there have been no material developments in any legal proceedings previously disclosed in the company's 2024 Annual Report - There have been no material developments in previously disclosed legal proceedings during the reporting period[171](index=171&type=chunk) [ITEM 1A. Risk Factors](index=36&type=section&id=ITEM%201A.%20Risk%20Factors) This section refers to the risk factor discussions in the company's Annual Report and previous quarterly reports - For a discussion of potential risks and uncertainties, refer to the "Risk Factors" section of the company's 2024 Annual Report and Q1 2025 Quarterly Report[172](index=172&type=chunk) [ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=36&type=section&id=ITEM%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section discloses the company's stock repurchase activities during the second quarter of 2025 - As of June 30, 2025, the company has repurchased **131.8 million** of the **138 million** shares authorized for repurchase[177](index=177&type=chunk) Issuer Purchases of Equity Securities | Period | Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans | Maximum Number of Shares that May Yet Be Purchased Under the Plans | | :--- | :--- | :--- | :--- | :--- | | April 1 - April 30, 2025 | 202 (a) | $43.68 | — | 6,611,589 | | May 1 - May 31, 2025 | 100,000 | $46.08 | 100,000 | 6,511,589 | | June 1 - June 30, 2025 | 361,674 (b) | $42.97 | 360,504 | 6,151,085 | | **Total April 1 - June 30, 2025** | **461,876** | | **460,504** | | [ITEM 3. Defaults Upon Senior Securities](index=36&type=section&id=ITEM%203.%20Defaults%20Upon%20Senior%20Securities) This section states that there were no defaults upon senior securities - No defaults upon senior securities[174](index=174&type=chunk) [ITEM 4. Mine Safety Disclosure](index=36&type=section&id=ITEM%204.%20Mine%20Safety%20Disclosure) This section states that mine safety disclosures are not applicable to the company's business - Mine safety disclosures are not applicable[175](index=175&type=chunk) [ITEM 5. Other Information](index=36&type=section&id=ITEM%205.%20Other%20Information) This section states that there is no other information to disclose - No other information[176](index=176&type=chunk) [ITEM 6. Exhibits](index=36&type=section&id=ITEM%206.%20Exhibits) This section lists the exhibits filed with the report, including certifications and XBRL data - Exhibits include the company's articles of incorporation, CEO and CFO certifications, and financial data in Inline XBRL format[179](index=179&type=chunk) [SIGNATURES](index=38&type=section&id=SIGNATURES) This section contains the signatures of the company's authorized officers as required by the Securities Exchange Act - The report was signed on August 5, 2025, by Michael C Buckley, Executive Vice President and Chief Financial Officer[181](index=181&type=chunk)

Core Insights - The majority of workers (73%) plan to remain in their current roles through the end of 2025, indicating a trend towards job stability [2][3] - Only 27% of workers intend to actively seek new employment in the latter half of the year, a decrease from 29% in January and 35% a year prior [1][3] Worker Sentiment - Among those planning to stay, 37% value their current flexibility and do not wish to risk losing it [3] - The top reasons for staying include a positive company culture (33%), professional fulfillment (31%), and competitive compensation (29%) [6] Job Search Trends - Gen Z (32%) and Millennials (31%) are the most likely demographics to seek new jobs, with marketing and creative (34%) and technology professionals (30%) also showing significant interest [3] - The primary motivators for job seekers are better benefits and perks (45%), career advancement opportunities (43%), and higher pay (42%) [3] Contract Work Insights - A significant portion (91%) of those considering a career change are interested in switching industries, while 71% would contemplate contract work instead of full-time positions [4] - Contract work is increasingly viewed as a viable long-term career path, offering flexibility and diverse experiences [8][9] Company Strategy - Employers are encouraged to adopt strategic approaches to attract talent, focusing on flexibility, career development, and fostering a positive workplace culture [4]