TriNet(US:TNET)2025-10-29 11:20Financial Performance - Total revenues for Q3 2025 were $1.2 billion, a decrease of 2% compared to the same period last year[5]. - Professional service revenues decreased by 8% to $169 million compared to the same period last year[5]. - Net income for Q3 2025 was $34 million, or $0.70 per diluted share, down from $45 million, or $0.89 per diluted share, in the same period last year[5]. - Adjusted EBITDA was $100 million, representing an Adjusted EBITDA Margin of 8.2%, compared to $109 million and an 8.8% margin in the same period last year[5]. - Total revenues for the nine months ended September 30, 2025, were $3,762 million, down slightly from $3,776 million in the same period of 2024, reflecting a decrease of 0.4%[14]. - Net income for Q3 2025 was $34 million, a decline of 24.4% compared to $45 million in Q3 2024[14]. - The company reported a comprehensive income of $34 million for Q3 2025, down from $52 million in Q3 2024[14]. - Adjusted EBITDA for the nine months ended September 30, 2025, was $368 million, down from $425 million in 2024, representing a decline of 13.4%[21]. - The Adjusted EBITDA margin for the three months ended September 30, 2025, was 8.2%, compared to 8.8% in the same period of 2024[21]. Guidance and Projections - The company reaffirms its full-year 2025 guidance with total revenues expected between $4.95 billion and $5.14 billion[4]. - Adjusted Net Income per share is projected to be between $3.25 and $4.75 for the full year 2025[4]. - The Insurance Cost Ratio is expected to be between 90% and 92% for the full year 2025[4]. - The company provided full-year 2025 guidance for net income to be between a decrease of 46% to 3% compared to the actual net income of $173 million in 2024[22]. - Adjusted Net Income for the full year 2025 is projected to be between $161 million and $239 million, reflecting a decrease of 40% to 12% from the previous year[22]. - The Adjusted Net Income per share - diluted for 2025 is expected to range from $3.25 to $4.75, down from $5.32 in 2024[22]. - Stock-based compensation for the full year 2025 is expected to remain stable with an increase of 11% compared to 2024[22]. - Restructuring costs for the full year 2025 are projected to decrease by 80% compared to the previous year[22]. Cash and Assets - Cash and cash equivalents decreased to $321 million as of September 30, 2025, from $360 million at the end of 2024[16]. - Total assets decreased to $3,425 million as of September 30, 2025, compared to $4,119 million at the end of 2024[16]. - Total liabilities decreased to $3,315 million as of September 30, 2025, from $4,050 million at the end of 2024[16]. - Net cash provided by operating activities for the nine months ended September 30, 2025, was $242 million, an increase from $214 million in the same period of 2024[17]. - The company reported a net cash provided by operating activities of $242 million for the nine months ended September 30, 2025, compared to $214 million in 2024[21]. Employee Metrics - Average Worksite Employees (WSEs) decreased by 6% year-over-year to approximately 335,000[5]. Customer Metrics - Customer retention remains above historical averages, with the highest ever customer net promoter score recorded[2]. Regulatory Filings - The company anticipates filing its Quarterly Report on Form 10-Q with the SEC today[6].