Technology

ROBERT HALF REPORTS FOURTH-QUARTER FINANCIAL RESULTS

Published

2 years ago

January 29, 2025

MENLO PARK, Calif., Jan. 29, 2025 /PRNewswire/ — Robert Half Inc. (NYSE: RHI) today reported revenues and earnings for the fourth quarter ended December 31, 2024.

For the three months ended December 31, 2024, net income was $54 million, or $0.53 per share, on revenues of $1.382 billion. For the three months ended December 31, 2023, net income was $87 million, or $0.83 per share, on revenues of $1.473 billion.

For the year ended December 31, 2024, net income was $252 million, or $2.44 per share, on revenues of $5.796 billion. For the year ended December 31, 2023, net income was $411 million, or $3.88 per share, on revenues of $6.393 billion.

“Revenues and earnings for the fourth quarter were largely in line with our expectations, led by Protiviti, which reported year-on-year revenue growth for the second straight quarter. Contract revenues remained stable throughout the quarter, sustaining early third-quarter levels for 23 consecutive weeks prior to the holidays. As we move into the new year, we are very encouraged by the significant rise in U.S. business confidence that followed the recent elections,” said M. Keith Waddell, president and chief executive officer at Robert Half. “We are very well-positioned to capitalize on emerging opportunities and support our clients’ talent and consulting needs through the strength of our industry-leading brand, people, technology, and unique business model that includes both professional staffing and business consulting services.

“We’d like to extend our gratitude to our global workforce for making possible a number of new accolades. Just today, Robert Half was honored by Fortune® as one of the World’s Most Admired Companies for the 28th consecutive year. We are proud of our unique position as the only company in our industry to be awarded this distinction for nearly three decades. We were also recently named one of Fortune’s Best Workplaces for Parents and chosen by Newsweek as one of America’s Most Responsible Companies,” Waddell concluded.

Robert Half management will conduct a conference call today at 5 p.m. EST. The prepared remarks for this call are available now in the Investor Center of the Robert Half website (www.roberthalf.com/investor-center). Simply click on the Quarterly Conference Calls link. The dial-in number is 888-394-8218 (+1-323-994-2093 outside the United States and Canada). The confirmation code to access the call is 2689591.

A recording of this call will be available for audio replay beginning at approximately 8 p.m. EST on January 29 and ending after 12 months. To access the replay, visit https://webcasts.com/RobertHalfQ42024. The conference call also will be archived in audio format on the Company’s website at roberthalf.com.

Robert Half 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 permanent placement solutions in the fields of finance and accounting, technology, marketing and creative, legal, and administrative and customer support, and we also provide executive search services. Robert Half is the parent company of Protiviti®, a global consulting firm that delivers internal audit, risk, business and technology consulting solutions. In the past 12 months, Robert Half, including Protiviti, has been named one of the Fortune® World’s Most Admired Companies™ and 100 Best Companies to Work For, and a Forbes Best Employer for Diversity.

Certain information contained in this press release and its attachments may be deemed forward-looking statements regarding events and financial trends that may affect the future operating results or financial positions of Robert Half Inc. (the “Company”). Forward-looking statements are not guarantees or promises that goals or targets will be met. These statements may be identified by words such as “anticipate,” “potential,” “estimate,” “forecast,” “target,” “project,” “plan,” “intend,” “believe,” “expect,” “should,” “could,” “would,” “may,” “might,” “will,” or variations or negatives thereof or by similar or comparable words or phrases. In addition, historical, current and forward-looking information about the Company’s environmental, social and governance and compliance programs, including targets or goals, may not be considered material for the Securities and Exchange Commission (“SEC”) or other mandatory reporting purposes and may be based on standards for measuring progress that are still developing, on internal controls, diligence, or processes that are evolving, on representations reviewed or provided by third parties, and on assumptions that are subject to change in the future. Forward-looking statements are estimates only, based on management’s current expectations, currently available information and current strategy, plans, or forecasts, and involve certain known and unknown risks, uncertainties, and assumptions that are difficult to predict and often beyond our control and are inherently uncertain. Forward-looking statements are subject to risks and uncertainties that could cause actual results, outcomes, or the timing of these results or outcomes, to differ materially from those expressed or implied in the statements.

These risks and uncertainties include, but are not limited to, the following: changes to or new interpretations of United States of America (“U.S.”) or international tax regulations; the global financial and economic situation; changes in levels of unemployment and other economic conditions in the U.S. or foreign countries where the Company does business, or in particular regions or industries; reduction in the supply of candidates for contract employment or the Company’s ability to attract candidates; the development, proliferation and adoption of artificial intelligence (“AI”) by the Company and the third parties it serves; the entry of new competitors into the marketplace or expansion by existing competitors; the ability of the Company to maintain existing client relationships and attract new clients in the context of changing economic or competitive conditions; the impact of competitive pressures, including any change in the demand for the Company’s services, on the Company’s ability to maintain its margins; the possibility of the Company incurring liability for its activities, including the activities of its engagement professionals, or for events impacting its engagement professionals on clients’ premises; the possibility that adverse publicity could impact the Company’s ability to attract and retain clients and candidates; the success of the Company in attracting, training, and retaining qualified management personnel and other staff employees; the Company’s ability to comply with governmental regulations affecting personnel services businesses in particular or employer/employee relationships in general; whether there will be ongoing demand for Sarbanes-Oxley or other regulatory compliance services; the Company’s reliance on short-term contracts for a significant percentage of its business; litigation relating to prior or current transactions or activities, including litigation that may be disclosed from time to time in the Company’s SEC filings; the impact of extreme weather conditions on the Company and its candidates and clients, the ability of the Company to manage its international operations and comply with foreign laws and regulations; the impact of fluctuations in foreign currency exchange rates; the possibility that the additional costs the Company will incur as a result of health care or other reform legislation may adversely affect the Company’s profit margins or the demand for the Company’s services; the possibility that the Company’s computer and communications hardware and software systems could be damaged or their service interrupted or the Company could experience a cybersecurity breach; and the possibility that the Company may fail to maintain adequate financial and management controls, and as a result suffer errors in its financial reporting.

Additionally, with respect to Protiviti, other risks and uncertainties include the fact that future success will depend on its ability to retain employees and attract clients; there can be no assurance that there will be ongoing demand for broad based consulting, regulatory compliance, technology services, public sector or other high demand advisory services; failure to produce projected revenues could adversely affect financial results; and there is the possibility of involvement in litigation relating to prior or current transactions or activities.

A summary of additional risks and uncertainties can be found in the Annual Report on Form 10-K for the year ended December 31, 2023, and in the Company’s other filings with the U.S. Securities and Exchange Commission.

Because long-term contracts are not a significant part of the Company’s business, future results cannot be reliably predicted by considering past trends or extrapolating past results. The Company undertakes no obligation to update information contained in this release, whether as a result of new information, future events, or otherwise, and notwithstanding any historical practice of doing so.

A copy of this release is available at www.roberthalf.com/investor-center.

ATTACHED:

Summary of Operations

Supplemental Financial Information

Non-GAAP Financial Measures

ROBERT HALF INC.

SUMMARY OF OPERATIONS

(in thousands, except per share amounts)

Three Months Ended
December 31,

Year Ended
December 31,

2024

2023

2024

2023

(Unaudited)

Service revenues

$ 1,382,372

$ 1,472,892

$ 5,795,837

$ 6,392,517

Costs of services

846,274

888,728

3,548,607

3,817,513

Gross margin

536,098

584,164

2,247,230

2,575,004

Selling, general and administrative expenses

471,326

516,666

2,004,539

2,107,531

Income from investments held in employee deferred compensation trusts
(which is completely offset by related costs and expenses)

(5,740)

(46,657)

(94,079)

(88,020)

Amortization of intangible assets

304

721

1,217

2,883

Interest income, net

(5,128)

(6,697)

(22,118)

(23,973)

Income before income taxes

75,336

120,131

357,671

576,583

Provision for income taxes

21,046

32,827

106,073

165,437

Net income

$ 54,290

$ 87,304

$ 251,598

$ 411,146

Diluted net income per share

$ 0.53

$ 0.83

$ 2.44

$ 3.88

Weighted average shares:

Basic

101,549

104,286

102,661

105,530

Diluted

102,008

104,960

103,028

106,074

ROBERT HALF INC.

SUPPLEMENTAL FINANCIAL INFORMATION

(in thousands)

Three Months Ended
December 31,

Year Ended
December 31,

2024

2023

2024

2023

(Unaudited)

SERVICE REVENUES INFORMATION

Contract talent solutions

Finance and accounting

$ 574,898

$ 635,281

$ 2,454,119

$ 2,811,093

Administrative and customer support

172,783

189,471

741,468

816,409

Technology

158,009

163,724

634,062

710,156

Elimination of intersegment revenues (1)

(120,176)

(101,098)

(471,777)

(442,326)

Total contract talent solutions

785,514

887,378

3,357,872

3,895,332

Permanent placement talent solutions

108,099

121,564

487,204

567,486

Protiviti

488,759

463,950

1,950,761

1,929,699

Total service revenues

$ 1,382,372

$ 1,472,892

$ 5,795,837

$ 6,392,517

(1)

Service revenues for finance and accounting, administrative and customer support, and technology include intersegment revenues, which represent revenues from services provided to the Company’s Protiviti segment in connection with the Company’s blended business solutions. Intersegment revenues for each functional specialization are aggregated and then eliminated as a single line.

Three Months Ended December 31,

Year Ended December 31,

2024

2023

2024

2023

% of
Revenue

(Unaudited)

BUSINESS SEGMENT INCOME INFORMATION:

Contract talent solutions

$ 16,410

2.1 %

$ 50,878

5.7 %

$ 130,518

3.9 %

$ 292,815

7.5 %

Permanent placement talent solutions

$ 5,862

5.4 %

$ 10,392

8.5 %

$ 46,052

9.5 %

$ 75,004

13.2 %

Protiviti

$ 48,240

9.9 %

$ 52,885

11.4 %

$ 160,200

8.2 %

$ 187,674

9.7 %

December 31,

2024

2023

(Unaudited)

SELECTED BALANCE SHEET INFORMATION:

Cash and cash equivalents

$ 537,583

$ 731,740

Accounts receivable, net

$ 772,285

$ 860,872

Total assets

$ 2,854,405

$ 3,010,789

Total current liabilities

$ 1,285,739

$ 1,235,111

Total stockholders’ equity

$ 1,378,003

$ 1,588,351

Year Ended December 31,

2024

2023

(Unaudited)

SELECTED CASH FLOW INFORMATION:

Depreciation

$ 52,053

$ 51,364

Capitalized cloud computing implementation costs

$ 29,210

$ 34,895

Capital expenditures

$ 56,318

$ 45,874

Open market repurchases of common stock (shares)

3,507

3,047

ROBERT HALF INC.
NON-GAAP FINANCIAL MEASURES

The financial results of Robert Half Inc. (the “Company”) are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and the rules of the SEC. To help readers understand the Company’s financial performance, the Company supplements its GAAP financial results with the following non-GAAP measures: adjusted gross margin; adjusted selling, general and administrative expenses; combined segment income; and as adjusted revenue growth rates.

The following measures: adjusted gross margin and adjusted selling, general and administrative expenses, include gains and losses on investments held to fund the Company’s obligations under employee deferred compensation plans. The Company provides these measures because they are used by management to review its operational results.

Combined segment income is income before income taxes, adjusted for interest income and amortization of intangible assets. The Company provides combined segment income because it is how management evaluates performance.

As adjusted revenue growth rates represent year-over-year revenue growth rates after removing the impacts on reported revenues from the changes in the number of billing days and foreign currency exchange rates. The Company provides this data because it focuses on the Company’s revenue growth rates attributable to operating activities and aids in evaluating revenue trends over time. The impacts from the changes in billing days and foreign currency exchange rates are calculated as follows:

Billing days impact is calculated by dividing each comparative period’s reported revenues by the number of billing days for that period to arrive at a per billing day amount. Same billing day growth rates are then calculated based on the per billing day amounts. Management calculates a global, weighted-average number of billing days for each reporting period based upon inputs from all countries and all functional specializations and segments.Foreign currency impact is calculated by retranslating current period international revenues, using foreign currency exchange rates from the prior year’s comparable period.

The non-GAAP financial measures provided herein may not provide information that is directly comparable to that provided by other companies in the Company’s industry, as other companies may calculate such financial results differently. The Company’s non-GAAP financial measures are not measurements of financial performance under GAAP and should not be considered as alternatives to amounts presented in accordance with GAAP. The Company does not consider these non-GAAP financial measures to be a substitute for, or superior to, the information provided by GAAP financial results. A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures is provided on the following pages.

ROBERT HALF INC.

NON-GAAP FINANCIAL MEASURES

ADJUSTED GROSS MARGIN (UNAUDITED):

(in thousands)

Three Months Ended December 31,

Relationships

Year Ended December 31,

Relationships

As Reported

As Adjusted

As Reported

As Adjusted

As Reported

As Adjusted

As Reported

As Adjusted

2024

2023

2024

2023

2024

2023

2024

2023

2024

2023

2024

2023

2024

2023

2024

2023

Gross Margin

Contract talent solutions

$ 306,758

$ 351,893

$ 306,758

$ 351,893

39.1 %

39.7 %

39.1 %

39.7 %

$ 1,316,524

$ 1,549,312

$ 1,316,524

$ 1,549,312

39.2 %

39.8 %

39.2 %

39.8 %

Permanent placement talent
solutions

107,866

121,330

107,866

121,330

99.8 %

486,219

566,381

486,219

566,381

99.8 %

Total talent solutions

414,624

473,223

414,624

473,223

46.4 %

46.9 %

46.4 %

46.9 %

1,802,743

2,115,693

1,802,743

2,115,693

46.9 %

47.4 %

46.9 %

47.4 %

Protiviti

121,474

110,941

122,560

119,951

24.9 %

23.9 %

25.1 %

25.9 %

444,487

459,311

463,250

475,572

22.8 %

23.8 %

23.7 %

24.6 %

Total

$ 536,098

$ 584,164

$ 537,184

$ 593,174

38.8 %

39.7 %

38.9 %

40.3 %

$ 2,247,230

$ 2,575,004

$ 2,265,993

$ 2,591,265

38.8 %

40.3 %

39.1 %

40.5 %

The following tables provide reconciliations of the non-GAAP adjusted gross margin to reported gross margin for the three months ended December 31, 2024 and 2023:

Three Months Ended December 31, 2024

Three Months Ended December 31, 2023

Contract talent

solutions

Permanent
placement talent
solutions

Total talent
solutions

Protiviti

Total

Contract talent

solutions

Permanent
placement talent
solutions

Total talent
solutions

Protiviti

Total

% of
Revenue

Gross Margin

As Reported

$ 306,758

39.1 %

$ 107,866

99.8 %

$ 414,624

46.4 %

$ 121,474

24.9 %

$ 536,098

38.8 %

$ 351,893

39.7 %

$ 121,330

99.8 %

$ 473,223

46.9 %

$ 110,941

23.9 %

$ 584,164

39.7 %

Adjustments (1)

—

1,086

0.2 %

1,086

0.1 %

—

9,010

2.0 %

9,010

0.6 %

As Adjusted

$ 306,758

39.1 %

$ 107,866

99.8 %

$ 414,624

46.4 %

$ 122,560

25.1 %

$ 537,184

38.9 %

$ 351,893

39.7 %

$ 121,330

99.8 %

$ 473,223

46.9 %

$ 119,951

25.9 %

$ 593,174

40.3 %

The following tables provide reconciliations of the non-GAAP adjusted gross margin to reported gross margin for the years ended December 31, 2024 and 2023:

Year Ended December 31, 2024

Year Ended December 31, 2023

Contract talent

solutions

Permanent
placement talent
solutions

Total talent
solutions

Protiviti

Total

Contract talent

solutions

Permanent
placement talent
solutions

Total talent
solutions

Protiviti

Total

% of
Revenue

Gross Margin

As Reported

$ 1,316,524

39.2 %

$ 486,219

99.8 %

$ 1,802,743

46.9 %

$ 444,487

22.8 %

$ 2,247,230

38.8 %

$ 1,549,312

39.8 %

$ 566,381

99.8 %

$ 2,115,693

47.4 %

$ 459,311

23.8 %

$ 2,575,004

40.3 %

Adjustments (1)

—

18,763

0.9 %

18,763

0.3 %

—

16,261

0.8 %

16,261

0.2 %

As Adjusted

$ 1,316,524

39.2 %

$ 486,219

99.8 %

$ 1,802,743

46.9 %

$ 463,250

23.7 %

$ 2,265,993

39.1 %

$ 1,549,312

39.8 %

$ 566,381

99.8 %

$ 2,115,693

47.4 %

$ 475,572

24.6 %

$ 2,591,265

40.5 %

(1)

Changes in the Company’s employee deferred compensation plan obligations related to Protiviti operations are included in costs of services, while the related investment income is presented separately. The non-GAAP financial adjustments shown in the table above are to reclassify investment income from investments held in employee deferred compensation trusts to the same line item that includes the corresponding change in obligation. These adjustments have no impact on income before income taxes.

ROBERT HALF INC.

NON-GAAP FINANCIAL MEASURES

ADJUSTED SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (UNAUDITED):

(in thousands)

Three Months Ended December 31,

Relationships

Year Ended December 31,

Relationships

As Reported

As Adjusted

As Reported

As Adjusted

As Reported

As Adjusted

As Reported

As Adjusted

2024

2023

2024

2023

2024

2023

2024

2023

2024

2023

2024

2023

2024

2023

2024

2023

Selling, General and

Administrative Expenses

Contract talent solutions

$ 294,387

$ 334,785

$ 290,348

$ 301,015

37.5 %

37.7 %

37.0 %

33.9 %

$ 1,252,588

$ 1,320,752

$ 1,186,006

$ 1,256,497

37.3 %

33.9 %

35.3 %

32.3 %

Permanent placement talent
solutions

102,619

114,815

102,004

110,938

94.9 %

94.4 %

91.3 %

448,901

498,881

440,167

491,377

92.1 %

87.9 %

90.3 %

86.6 %

Total talent solutions

397,006

449,600

392,352

411,953

44.4 %

44.6 %

43.9 %

40.8 %

1,701,489

1,819,633

1,626,173

1,747,874

44.3 %

40.8 %

42.3 %

39.2 %

Protiviti

74,320

67,066

74,320

67,066

15.2 %

14.5 %

15.2 %

14.5 %

303,050

287,898

303,050

287,898

15.5 %

14.9 %

15.5 %

14.9 %

Total

$ 471,326

$ 516,666

$ 466,672

$ 479,019

34.1 %

35.1 %

33.8 %

32.5 %

$ 2,004,539

$ 2,107,531

$ 1,929,223

$ 2,035,772

34.6 %

33.0 %

33.3 %

31.8 %

The following tables provide reconciliations of the non-GAAP adjusted selling, general and administrative expenses to reported selling, general and administrative expenses for the three months ended December 31, 2024 and 2023:

Three Months Ended December 31, 2024

Three Months Ended December 31, 2023

Contract talent

solutions

Permanent
placement talent
solutions

Total talent
solutions

Protiviti

Total

Contract talent

solutions

Permanent
placement talent
solutions

Total talent
solutions

Protiviti

Total

% of
Revenue

Selling, General and

Administrative Expenses

As Reported

$ 294,387

37.5 %

$ 102,619

94.9 %

$ 397,006

44.4 %

$ 74,320

15.2 %

$ 471,326

34.1 %

$ 334,785

37.7 %

$ 114,815

94.4 %

$ 449,600

44.6 %

$ 67,066

14.5 %

$ 516,666

35.1 %

Adjustments (1)

(4,039)

(0.5 %)

(615)

(0.5 %)

(4,654)

(0.5 %)

—

(4,654)

(0.3 %)

(33,770)

(3.8 %)

(3,877)

(3.1 %)

(37,647)

(3.8 %)

—

(37,647)

(2.6 %)

As Adjusted

$ 290,348

37.0 %

$ 102,004

94.4 %

$ 392,352

43.9 %

$ 74,320

15.2 %

$ 466,672

33.8 %

$ 301,015

33.9 %

$ 110,938

91.3 %

$ 411,953

40.8 %

$ 67,066

14.5 %

$ 479,019

32.5 %

Year Ended December 31, 2024

Year Ended December 31, 2023

Contract talent
solutions

Permanent
placement talent
solutions

Total talent
solutions

Protiviti

Total

Contract talent
solutions

Permanent
placement talent
solutions

Total talent
solutions

Protiviti

Total

% of
Revenue

Selling, General and

Administrative Expenses

As Reported

$ 1,252,588

37.3 %

$ 448,901

92.1 %

$ 1,701,489

44.3 %

$ 303,050

15.5 %

$ 2,004,539

34.6 %

$ 1,320,752

33.9 %

$ 498,881

87.9 %

$ 1,819,633

40.8 %

$ 287,898

14.9 %

$ 2,107,531

33.0 %

Adjustments (1)

(66,582)

(2.0 %)

(8,734)

(1.8 %)

(75,316)

(2.0 %)

—

(75,316)

(1.3 %)

(64,255)

(1.6 %)

(7,504)

(1.3 %)

(71,759)

(1.6 %)

—

(71,759)

(1.2 %)

As Adjusted

$ 1,186,006

35.3 %

$ 440,167

90.3 %

$ 1,626,173

42.3 %

$ 303,050

15.5 %

$ 1,929,223

33.3 %

$ 1,256,497

32.3 %

$ 491,377

86.6 %

$ 1,747,874

39.2 %

$ 287,898

14.9 %

$ 2,035,772

31.8 %

(1)

Changes in the Company’s employee deferred compensation plan obligations related to talent solutions operations are included in selling, general and administrative expenses, while the related investment income is presented separately. The non-GAAP financial adjustments shown in the table above are to reclassify investment income from investments held in employee deferred compensation trusts to the same line item that includes the corresponding change in obligation. These adjustments have no impact on income before income taxes.

ROBERT HALF INC.
NON-GAAP FINANCIAL MEASURES
COMBINED SEGMENT INCOME (UNAUDITED):
(in thousands)

The following tables provide reconciliations of the non-GAAP combined segment income to reported income before income taxes for the three months and years ended December 31, 2024 and 2023:

Three Months Ended December 31,

Year Ended December 31,

2024

2023

2024

2023

% of
Revenue

Income before income taxes

$ 75,336

5.4 %

$ 120,131

8.2 %

$ 357,671

6.2 %

$ 576,583

9.0 %

Interest income, net

(5,128)

(0.3 %)

(6,697)

(0.4 %)

(22,118)

(0.4 %)

(23,973)

(0.3 %)

Amortization of intangible assets

304

0.0 %

721

0.0 %

1,217

0.0 %

2,883

0.0 %

Combined segment income

$ 70,512

5.1 %

$ 114,155

7.8 %

$ 336,770

5.8 %

$ 555,493

8.7 %

ROBERT HALF INC.

NON-GAAP FINANCIAL MEASURES

REVENUE GROWTH RATES (%) (UNAUDITED):

Year-Over-Year Growth Rates

(As Reported)

Non-GAAP Year-Over-Year Growth Rates

(As Adjusted)

2023

2024

2023

2024

Global

Finance and accounting

-16.0

-17.2

-17.5

-13.6

-9.2

-9.5

-15.2

-17.8

-17.0

-13.5

-10.5

-9.8

Administrative and customer
support

-21.5

-18.7

-8.9

-9.8

-9.2

-8.8

-21.2

-19.4

-8.3

-9.8

-10.8

-9.4

Technology

-21.3

-21.7

-18.6

-13.1

-6.1

-3.5

-20.0

-21.8

-17.8

-13.1

-7.6

-4.1

Elimination of intersegment
revenues (1)

-24.2

-26.6

-10.3

1.4

21.6

18.9

-23.8

-27.2

-9.9

1.3

19.4

17.8

Total contract talent solutions

-17.3

-17.2

-16.7

-14.5

-11.9

-11.5

-16.4

-17.7

-16.2

-14.4

-13.2

-11.8

Permanent placement talent
solutions

-23.3

-22.0

-20.4

-12.2

-11.9

-11.1

-22.5

-22.6

-19.8

-12.0

-13.2

-11.4

Total talent solutions

-18.1

-17.8

-17.2

-14.2

-11.9

-11.4

-17.3

-18.3

-16.7

-14.0

-13.2

-11.7

Protiviti

-6.0

-7.1

-6.1

-0.9

6.4

5.3

-4.9

-7.5

-5.4

-0.9

4.5

Total

-14.7

-14.0

-10.2

-6.3

-6.1

-13.8

-15.2

-13.4

-10.1

-7.7

-6.6

United States

Contract talent solutions

-20.7

-20.5

-19.1

-15.7

-12.4

-10.3

-19.2

-20.3

-18.6

-15.8

-13.7

-11.2

Permanent placement talent
solutions

-26.9

-22.6

-19.3

-11.5

-9.0

-9.6

-25.5

-22.5

-18.7

-11.7

-10.4

Total talent solutions

-21.5

-20.7

-19.1

-15.2

-12.0

-10.2

-20.0

-20.6

-18.6

-15.3

-13.3

-11.1

Protiviti

-7.4

-7.3

-4.8

3.3

9.3

6.6

-5.6

-7.2

-4.2

3.1

7.6

5.6

Total

-17.5

-16.8

-14.9

-9.6

-5.2

-4.7

-15.9

-16.7

-14.3

-9.7

-6.7

-5.7

International

Contract talent solutions

-3.1

-4.4

-8.4

-10.0

-10.6

-15.2

-4.9

-7.5

-9.4

-11.7

-13.9

Permanent placement talent
solutions

-13.0

-20.6

-23.2

-13.8

-18.6

-14.7

-14.2

-22.8

-22.1

-13.0

-19.8

-13.7

Total talent solutions

-4.8

-7.2

-10.8

-10.7

-11.9

-15.1

-6.6

-10.1

-9.9

-10.0

-13.0

-13.9

Protiviti

0.3

-6.1

-11.3

-16.2

-5.6

0.2

-1.5

-8.9

-10.1

-15.9

-8.1

-0.4

Total

-3.5

-6.9

-10.9

-12.2

-10.2

-10.9

-5.3

-9.8

-10.0

-11.6

-11.7

-10.2

(1)

Service revenues for finance and accounting, administrative and customer support, and technology include intersegment revenues, which represent revenues from services provided to Protiviti in connection with the Company’s blended business solutions. Intersegment revenues for each functional specialization are aggregated and then eliminated as a single line item.

The non-GAAP financial measures included in the table above adjust for the following items:

Billing Days. The “As Reported” revenue growth rates are based upon reported revenues. Management calculates the billing day impact by dividing each comparative period’s reported revenues by the number of billing days for that period to arrive at a per billing day amount. Same billing day growth rates are then calculated based on the per billing day amounts. Management calculates a global, weighted-average number of billing days for each reporting period based upon input from all countries and all functional specializations and segments.

Foreign Currency Translation. The “As Reported” revenue growth rates are based upon reported revenues, which include the impact of changes in foreign currency exchange rates. The foreign currency impact is calculated by retranslating current period international revenues, using foreign currency exchange rates from the prior year’s comparable period.

The term “As Adjusted” means that the impact of different billing days and constant currency fluctuations are removed from the revenue growth rate calculation. A reconciliation of the non-GAAP year-over-year revenue growth rates to the “As Reported” year-over-year revenue growth rates is included herein, on Pages 10-12.

ROBERT HALF INC.

NON-GAAP FINANCIAL MEASURES

REVENUE GROWTH RATE (%) RECONCILIATION (UNAUDITED):

Year-Over-Year Revenue Growth – GLOBAL

Q3 2023

Q4 2023

Q1 2024

Q2 2024

Q3 2024

Q4 2024

Finance and accounting

As Reported

-16.0

-17.2

-17.5

-13.6

-9.2

-9.5

Billing Days Impact

1.6

0.1

0.7

-0.3

-1.5

-0.8

Currency Impact

-0.8

-0.7

-0.2

0.4

0.2

0.5

As Adjusted

-15.2

-17.8

-17.0

-13.5

-10.5

-9.8

Administrative and customer support

As Reported

-21.5

-18.7

-8.9

-9.8

-9.2

-8.8

Billing Days Impact

1.4

0.2

0.8

-0.3

-1.5

-0.8

Currency Impact

-1.1

-0.9

-0.2

0.3

-0.1

0.2

As Adjusted

-21.2

-19.4

-8.3

-9.8

-10.8

-9.4

Technology

As Reported

-21.3

-21.7

-18.6

-13.1

-6.1

-3.5

Billing Days Impact

1.5

0.1

0.7

-0.3

-1.5

-0.7

Currency Impact

-0.2

0.1

0.3

0.0

0.1

As Adjusted

-20.0

-21.8

-17.8

-13.1

-7.6

-4.1

Elimination of intersegment revenues

As Reported

-24.2

-26.6

-10.3

1.4

21.6

18.9

Billing Days Impact

1.4

0.1

0.7

-0.3

-1.9

-1.0

Currency Impact

-1.0

-0.7

-0.3

0.2

-0.3

-0.1

As Adjusted

-23.8

-27.2

-9.9

1.3

19.4

17.8

Total contract talent solutions

As Reported

-17.3

-17.2

-16.7

-14.5

-11.9

-11.5

Billing Days Impact

1.6

0.2

0.6

-0.3

-1.4

-0.7

Currency Impact

-0.7

-0.1

0.4

0.1

0.4

As Adjusted

-16.4

-17.7

-16.2

-14.4

-13.2

-11.8

Permanent placement talent solutions

As Reported

-23.3

-22.0

-20.4

-12.2

-11.9

-11.1

Billing Days Impact

1.5

0.1

0.7

-0.3

-1.4

-0.7

Currency Impact

-0.7

-0.1

0.5

0.1

0.4

As Adjusted

-22.5

-22.6

-19.8

-12.0

-13.2

-11.4

Total talent solutions

As Reported

-18.1

-17.8

-17.2

-14.2

-11.9

-11.4

Billing Days Impact

1.5

0.2

0.6

-0.2

-1.4

-0.7

Currency Impact

-0.7

-0.1

0.4

0.1

0.4

As Adjusted

-17.3

-18.3

-16.7

-14.0

-13.2

-11.7

Protiviti

As Reported

-6.0

-7.1

-6.1

-0.9

6.4

5.3

Billing Days Impact

1.8

0.2

0.7

-0.3

-1.7

-0.8

Currency Impact

-0.7

-0.6

0.0

0.3

-0.2

0.0

As Adjusted

-4.9

-7.5

-5.4

-0.9

4.5

Total

As Reported

-14.7

-14.0

-10.2

-6.3

-6.1

Billing Days Impact

1.6

0.1

0.7

-0.3

-1.4

-0.8

Currency Impact

-0.7

-0.6

-0.1

0.4

0.0

0.3

As Adjusted

-13.8

-15.2

-13.4

-10.1

-7.7

-6.6

ROBERT HALF INC.

NON-GAAP FINANCIAL MEASURES

REVENUE GROWTH RATE (%) RECONCILIATION (UNAUDITED):

Year-Over-Year Revenue Growth – UNITED STATES

Q3 2023

Q4 2023

Q1 2024

Q2 2024

Q3 2024

Q4 2024

Contract talent solutions

As Reported

-20.7

-20.5

-19.1

-15.7

-12.4

-10.3

Billing Days Impact

1.5

0.2

0.5

-0.1

-1.3

-0.9

Currency Impact

―

As Adjusted

-19.2

-20.3

-18.6

-15.8

-13.7

-11.2

Permanent placement talent solutions

As Reported

-26.9

-22.6

-19.3

-11.5

-9.0

-9.6

Billing Days Impact

1.4

0.1

0.6

-0.2

-1.4

-0.8

Currency Impact

―

As Adjusted

-25.5

-22.5

-18.7

-11.7

-10.4

Total talent solutions

As Reported

-21.5

-20.7

-19.1

-15.2

-12.0

-10.2

Billing Days Impact

1.5

0.1

0.5

-0.1

-1.3

-0.9

Currency Impact

―

As Adjusted

-20.0

-20.6

-18.6

-15.3

-13.3

-11.1

Protiviti

As Reported

-7.4

-7.3

-4.8

3.3

9.3

6.6

Billing Days Impact

1.8

0.1

0.6

-0.2

-1.7

-1.0

Currency Impact

―

As Adjusted

-5.6

-7.2

-4.2

3.1

7.6

5.6

Total

As Reported

-17.5

-16.8

-14.9

-9.6

-5.2

-4.7

Billing Days Impact

1.6

0.1

0.6

-0.1

-1.5

-1.0

Currency Impact

―

As Adjusted

-15.9

-16.7

-14.3

-9.7

-6.7

-5.7

ROBERT HALF INC.

NON-GAAP FINANCIAL MEASURES

REVENUE GROWTH RATE (%) RECONCILIATION (UNAUDITED):

Year-Over-Year Revenue Growth – INTERNATIONAL

Q3 2023

Q4 2023

Q1 2024

Q2 2024

Q3 2024

Q4 2024

Contract talent solutions

As Reported

-3.1

-4.4

-8.4

-10.0

-10.6

-15.2

Billing Days Impact

1.8

0.1

1.5

-1.1

-1.6

-0.4

Currency Impact

-3.6

-3.2

-0.6

1.7

0.5

1.7

As Adjusted

-4.9

-7.5

-9.4

-11.7

-13.9

Permanent placement talent solutions

As Reported

-13.0

-20.6

-23.2

-13.8

-18.6

-14.7

Billing Days Impact

1.6

0.1

1.3

-1.0

-1.6

-0.4

Currency Impact

-2.8

-2.3

-0.2

1.8

0.4

1.4

As Adjusted

-14.2

-22.8

-22.1

-13.0

-19.8

-13.7

Total talent solutions

As Reported

-4.8

-7.2

-10.8

-10.7

-11.9

-15.1

Billing Days Impact

1.7

0.2

1.4

-1.0

-1.6

-0.5

Currency Impact

-3.5

-3.1

-0.5

1.7

0.5

1.7

As Adjusted

-6.6

-10.1

-9.9

-10.0

-13.0

-13.9

Protiviti

As Reported

0.3

-6.1

-11.3

-16.2

-5.6

0.2

Billing Days Impact

1.8

0.2

1.4

-1.0

-1.7

-0.4

Currency Impact

-3.6

-3.0

-0.2

1.3

-0.8

-0.2

As Adjusted

-1.5

-8.9

-10.1

-15.9

-8.1

-0.4

Total

As Reported

-3.5

-6.9

-10.9

-12.2

-10.2

-10.9

Billing Days Impact

1.7

0.1

1.3

-1.0

-1.6

-0.5

Currency Impact

-3.5

-3.0

-0.4

1.6

0.1

1.2

As Adjusted

-5.3

-9.8

-10.0

-11.6

-11.7

-10.2

View original content to download multimedia:https://www.prnewswire.com/news-releases/robert-half-reports-fourth-quarter-financial-results-302363747.html

SOURCE Robert Half

Technology

DataOne Adds Massachusetts Registration and Sales Data to Cross-Sell Reports for Auto Dealers, Expanding State Coverage to 40 States

Published

54 minutes ago

October 19, 2026

BEVERLY, Mass., Oct. 19, 2026 /PRNewswire/ — DataOne Software, a Dominion Enterprises company and a leading provider of automotive data and software solutions, today announced the availability of Massachusetts vehicle registration and sales data within its Cross-Sell Reports market intelligence solutions for dealers. Cross-Sell Reports, including the Cross-Sell Interactive web interface, provide auto dealers with unparalleled insight into local market trends, giving them a competitive edge in reaching new customers and expanding market share. The addition of Massachusetts data to Cross-Sell Reports expands coverage to 40 states.

“As of today, Massachusetts dealers can now access a current, accurate view of new and used vehicle transactions within their market area,” explains David Wall, DataOne head of Cross-Sell Reports. “Localized data, in easy-to-interpret views, are an incredible advantage to dealers who want to spot trends early and make decisions based on accurate market intelligence. We are thrilled to be bringing this capability not only to Massachusetts dealers but also to dealerships in other New England states whose target markets cross into Massachusetts.”

On average, over 3.8 million vehicle transactions are processed monthly for inclusion in Cross-Sell Reports, covering new and used dealer transactions across 40 states, all sourced from official state DMV records. Each dealer subscription is configured to the dealer’s unique market area and provides:

Competitive market share analysis by dealership, make, and modelZIP code-level heat mapping to identify buyer activity and emerging marketsInventory trend analysis to inform stocking decisions by segment and seasonInteractive dashboards with drill-down reporting — no analytics infrastructure required

“We know dealers trust Cross-Sell Reports for critical market insight, and for those insights to be delivered with industry-leading speed and timeliness,” says Jake Maki, DataOne President. “With the addition of Massachusetts state coverage, we continue to expand our coverage providing more dealers with the most immediate, accurate market intelligence available.”

Since welcoming the Cross-Sell brand into DataOne earlier this year, DataOne has accelerated efforts to expand state coverage of vehicle registration and sales data. In addition to Massachusetts, Cross-Sell Reports recently added Mississippi, Kansas and Georgia to its coverage.

“Our goal is to make DataOne the most accurate and comprehensive source of vehicle registration and sales data, however customers choose to use it,” says Maki. “For a dealer, that might be a Cross-Sell Interactive dashboard tuned to their local market. For other customers looking to license the data, it might be multi-state data integrated directly into their own platforms. Every new state we add makes both more valuable.”

In addition to Cross-Sell Reports and Cross-Sell Interactive, DataOne offers Vehicle Registration and Sales Data for licensing via API or FTP data feed, with coverage configurable by state or region.

For general information about DataOne solutions, contact DataOne at 877.438.8467, e-mail sales@dataonesoftware.com or visit dataonesoftware.com. For specific information about Cross-Sell Reports or Cross-Sell Interactive for dealers, visit Cross-Sell Reports.

About DataOne Software

DataOne Software (www.dataonesoftware.com) is a premier automotive data source providing the data and software solutions needed to power modern businesses across all segments of the automotive industry. DataOne’s comprehensive data solutions cover everything from VIN decoding and vehicle descriptions to specifications, optional equipment, and market pricing. With the acquisition of Cross-Sell in 2026, DataOne has expanded our product offering to include PII-free vehicle sales and registration data. Our high-quality solutions are delivered with industry-leading support, making them easy to integrate and scale.

Media Contact

Alice Fackre, Product and Brand Marketing Manager

Email: alice .fackre@dataonesoftware.com

Phone: (978) 473-9097

View original content to download multimedia:https://www.prnewswire.com/news-releases/dataone-adds-massachusetts-registration-and-sales-data-to-cross-sell-reports-for-auto-dealers-expanding-state-coverage-to-40-states-302911528.html

SOURCE DataOne Software

Technology

DR. PHONE FIX ENTERS DEVICE LIFECYCLE AND FULFILLMENT MOU WITH GEO NOVA SCOTIA

Published

54 minutes ago

October 19, 2026

Agreement expands Dr. Phone Fix’s institutional platform through device procurement, triage, repair, refurbishment, accessories and fulfillment services

EDMONTON, AB, Oct. 19, 2026 /CNW/ — Dr. Phone Fix Canada Corporation (TSXV: DPF) (“Dr. Phone Fix” or the “Company”), one of Canada’s fastest-growing and award-winning national consumer electronics lifecycle platforms, is pleased to announce that it has entered into a Memorandum of Understanding (“MOU”) with GEO Nova Scotia (“GEO” or “Getting Everyone Online”), a nonprofit organization focused on advancing digital inclusion across Nova Scotia.

Under the MOU, Dr. Phone Fix will provide a broad range of device lifecycle services supporting GEO’s programs, including device procurement and inventory management, donated-device triage, repair and refurbishment, device preparation, accessories, packaging, fulfillment, shipping, tracking and environmentally responsible disposition, with GEO’s approval, of devices that are uneconomical or impractical to repair.

The relationship builds on GEO’s digital inclusion programs across Nova Scotia. Since 2022, GEO has distributed more than 8,500 devices, including almost 3,500 refurbished mobile phones and iPads, and has provided more than 4,500 home internet and mobile phone connections to individuals who otherwise may not be able to afford them. GEO delivers its programs through a network of more than 125 partner agencies across the province.

“This relationship is a strong example of how the infrastructure we have built at Dr. Phone Fix can support customers well beyond the traditional retail environment,” said Piyush Sawhney, Founder and Chief Executive Officer of Dr. Phone Fix. “We can manage a broad range of device lifecycle services – from procurement and inventory management to assessment, repair, preparation and ultimately fulfillment to the end user. We believe this type of institutional relationship represents an important growth opportunity for Dr. Phone Fix as we continue expanding our capabilities across Canada.”

Under the commercial structure contemplated by the MOU, Dr. Phone Fix will generate revenue through the sale of devices to GEO, per-device processing services, accessories and approved repair and refurbishment work, where applicable. DPF will also maintain GEO-owned inventory and manage fulfillment and distribution of devices to GEO program participants and partner organizations.

Each device processed for fulfillment may include services and accessories such as protective cases, screen protection, charging cables and charging equipment, with DPF managing the preparation, packaging, shipment and associated tracking requirements.

Management believes these relationships can leverage DPF’s existing national infrastructure, supplier network, repair capabilities and centralized operating systems while creating incremental revenue streams across device procurement, repair, refurbishment, accessories and fulfillment.

About GEO Nova Scotia

GEO Nova Scotia, or Getting Everyone Online, is a nonprofit organization dedicated to advancing digital inclusion by helping ensure individuals have access to the devices, connectivity and basic skills required to participate in an increasingly digital economy. GEO works with public-sector, private-sector and community partners across Nova Scotia to support individuals facing barriers to digital access.

About Dr. Phone Fix

Dr. Phone Fix is an award-winning, eco-friendly, and customer-centric integrated device care platform providing repair, refurbishment, certified pre-owned devices, trade-in solutions, accessories and related services through its growing national retail network. Founded in 2019, the Company serves consumers and businesses across multiple Canadian markets, delivering convenient and reliable device care solutions through its corporately owned retail network. With a focus on operational execution, customer service and sustainability, Dr. Phone Fix continues to expand its national platform while supporting the repair, reuse and extension of the useful life of connected devices.

www.docphonefix.com

NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Cautionary Statement Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information can be identified by words such as “intend”, “believe”, “estimate”, “expect”, “may”, “will”, “would”, “could”, “should”, “plans”, “anticipates” and similar references to future periods. Forward-looking information includes, but is not limited to, statements regarding the expected scope, scale and benefits of the Company’s relationship with GEO Nova Scotia; potential revenues from device sales, processing, repair, refurbishment, accessories and related services; the continued expansion of the Company’s institutional and enterprise business; and the Company’s ability to leverage its national operating platform to support additional device lifecycle programs. Forward-looking information is based on management’s current expectations, assumptions and estimates as of the date of this news release. The MOU does not guarantee any specific number of device purchases and does not specify a minimum processing volume, and actual volumes, revenues and profitability may differ materially from management’s expectations. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied. These include, among others, changes in GEO’s program requirements or funding, actual device volumes, availability and condition of donated and purchased devices, supply chain and inventory availability, repair and fulfillment costs, operational execution, termination or modification of the MOU, competitive conditions and general economic and business conditions. Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information except as required by applicable law.

SOURCE Dr. Phone Fix

Technology

A Speed Cap Nobody Will Own Just Shook Up the Satellite Trade

Published

54 minutes ago

October 19, 2026

WASHINGTON, Oct. 19, 2026 /PRNewswire/ — USA News Group News Commentary – Ukrainian President Volodymyr Zelenskyy said on Saturday that tests showed Starlink-equipped drones lost their connection when flying faster than about 100 mph inside Ukraine, while Starlink terminals moving at more than 112 mph inside the European Union worked normally. “In other words, this is a planned operation,” he said. No one in Washington or at SpaceX has claimed the decision. Most U.S.-listed space stocks fell sharply last week, while Europe’s only low Earth orbit broadband rival to SpaceX had its best day in 16 months. Active Companies from around the markets with current developments this week include: Space Exploration Technologies Corp. (NASDAQ: SPCX), AST SpaceMobile, Inc. (NASDAQ: ASTS), Iridium Communications Inc. (NASDAQ: IRDM), Rocket Lab Corporation (NASDAQ: RKLB), Eutelsat Communications SA (Euronext Paris: ETL).

The restrictions reportedly cover both Starlink and Starshield, SpaceX’s military-use service, which Ukraine relies on for communications, logistics, live drone video and targeting. The Telegraph reported on Oct. 16, citing four unnamed sources, that Elon Musk approached President Trump with the idea of slowing Starlink in Ukraine and that Trump “agreed.” Musk said on X that speed or usage limits on Starshield “are decided by the US military and ultimately POTUS.” Trump told reporters, “it wasn’t me, and I don’t think it was Elon.”

Secretary of State Marco Rubio said on Saturday, “We had nothing to do with it. Nobody ordered that Starlink speed to be slowed down. It sorta happened.” He also said Starshield was not available to Ukraine, which Yahoo Finance noted conflicts with a late 2024 Pentagon contract that expanded Ukraine’s Starshield access from about 500 to roughly 3,000 terminals. Speaking on NBC’s Meet the Press on Sunday, Zelenskyy said, “Just give us back Starlink.”

Europe is paying close attention. The European Union is working to develop its own alternative to Starlink, and on Sunday the U.S. ambassador to the EU threatened “devastating” retaliation if the bloc advanced a proposal favoring EU-made satellites over companies like SpaceX, Yahoo Finance reported.

CONTINUED… Read this and more news for the space sector at: usanewsgroup.com

In other industry developments and happenings in the market this week include:

Space Exploration Technologies Corp. (NASDAQ: SPCX)

Shares of SpaceX fell 10.17% last week, from $162.57 at the Oct. 9 close to $146.03 on Oct. 16, according to Stock Analysis data, though they remain above the $135 price of the company’s June initial public offering. Starlink, a core part of SpaceX’s business, has more than 13 million subscribers worldwide, and Yahoo Finance noted this is the first throttling episode since the company went public.

SpaceX has limited service in Ukraine before. In 2023, President and COO Gwynne Shotwell acknowledged the company could restrict how Ukraine used Starlink, saying, “There are things that we can do, and have done.” Musk said on X last week that Starlink “is limited to civilian or defensive activities.”

AST SpaceMobile, Inc. (NASDAQ: ASTS)

AST SpaceMobile, which is building a space-based cellular broadband network that connects directly to standard smartphones, fell 20.23% last week, from $50.97 to $40.66. On Oct. 13, Piper Sandler downgraded the stock to Neutral from Overweight and cut its price target to $54 from $98, citing SpaceX’s direct-to-cell ambitions after its agreement to acquire Grain Management’s 800 MHz spectrum for about $8 billion, subject to regulatory approval.

Piper warned that SpaceX could, in theory, limit launch opportunities for competitors such as AST and pressure pricing by competing with telecom operators. Not every analyst agreed. Deutsche Bank upgraded the shares to Buy on Oct. 12 with a $93 target, and Clear Street reiterated a Buy rating with a $115 target, arguing AST is about six months ahead of SpaceX in direct-to-cell.

Iridium Communications Inc. (NASDAQ: IRDM)

Iridium announced on Oct. 14 that Altair Semiconductor is adding Iridium NTN Direct to its ALT1350 and ALT1550 cellular IoT chipsets, letting device makers, module makers and mobile network operators add satellite coverage without a separate satellite modem. “Iridium is offering device manufacturers a powerful new way to develop connected products,” said Tim Last, executive vice president at Iridium.

Iridium stockholders approved the company’s acquisition by Rocket Lab on Sept. 24, with about 99.6% of votes cast in favor. Each Iridium share is to be exchanged for $27.00 in cash plus Rocket Lab stock based on an exchange ratio subject to a collar, for a notional value of $54.00 per share, and the deal is expected to close by mid-2027, subject to remaining regulatory approvals. Iridium shares fell 7.82% last week, from $47.47 to $43.76.

Rocket Lab Corporation (NASDAQ: RKLB)

Rocket Lab shares fell 25.47% last week, from $68.21 to $50.84, after founder and CEO Sir Peter Beck said in a video posted to YouTube that the first launch of the company’s Neutron rocket would move from late 2026 into 2027. Inspectors found voids in the carbon-fiber layers of a recently made forward propellant dome after curing, according to Space.com.

Beck said the voids “don’t necessarily mean that the dome would fail in flight,” but added, “Possible success isn’t our standard.” Rocket Lab expects to finish a new forward dome by the end of the year and complete first-stage testing in the first quarter of 2027, after which Beck said the company expects to be “in good shape to share a new target launch date.”

Eutelsat Communications SA (Euronext Paris: ETL)

Eutelsat shares jumped 23% on Oct. 14, the stock’s biggest one-day gain in 16 months, Reuters reported, after Ukraine said Starlink had introduced restrictions on its military-grade service. Eutelsat’s OneWeb network has more than 600 satellites in low Earth orbit, compared with about 10,000 for Starlink, and it is the only company besides SpaceX providing space-based internet through a low Earth orbit network. Bernstein analyst Aleksander Peterc said the news put European providers “back in the spotlight as potential alternatives.”

Not everyone sees an easy swap. Existing Starlink users cannot simply switch to OneWeb, since a transition would require new terminals and supporting infrastructure, and independent consultant Christian Freiherr von der Ropp said “considering it as a straightforward substitute overlooks significant operational and infrastructure constraints.”

Space stocks swung hard on headlines last week. Learn to read the charts behind moves like these with the free Stock Preachers guide, plus The Roadmap market reports, at stockpreachers.com.

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