Technology

ROBERT HALF REPORTS FOURTH-QUARTER FINANCIAL RESULTS

Published

1 year 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

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SOURCE Robert Half

Technology

RWA.LTD Announces Comprehensive Consumer Goods Token Ecosystem Layout at Hong Kong Web3 Festival, Leading the Launch of the Consumer RWA Alliance

Published

57 minutes ago

April 24, 2026

HONG KONG, April 24, 2026 /PRNewswire/ — During the Hong Kong Web3 Festival, RWA.LTD, the world’s first platform dedicated to consumer goods RWA (Real World Assets), officially announced the completion of its comprehensive consumer goods token ecosystem layout. At the event, the platform spearheaded the unveiling of the “Consumer RWA Alliance”. Positioned as the “Asian Consumer Goods Asset Trading Center,” RWA.LTD aims to enhance consumption efficiency through AI, reconstruct value distribution via Web3, and connect cross-city and cross-country consumer networks through tokens to accelerate the arrival of the “Smarter Consumer” era.

RWA.LTD stated that consumer goods RWA is not a single product, but a set of new infrastructure developed around consumption scenarios, the circulation of consumer rights, and brand interaction. Since CEO Fu, Rao Tony first proposed the concept of “Consumer Goods RWA” in late 2024, the team simultaneously prepared the RWA.LTD platform and completed Beta testing in September 2025. Following several months of iteration, the platform completed a comprehensive upgrade in mid-March 2026, marking RWA.LTD’s formal transition from the proof-of-concept stage to the ecological development stage.

RWA.LTD Ecosystem

In this public announcement, RWA.LTD systematically disclosed its four major ecological sectors for the first time. First, RWA.LTD | Mall (Winpoint Mall) was officially launched during the Hong Kong Web3 Festival, providing consumers with diverse brand rights driven by RWA Coin; current offerings include the CDAA (Chartered Digital Asset Analyst) Course, Matrix E-commerce Services, and more. Second, RWA.LTD | Exchange was fully launched in mid-March 2026 as a primary issuance and secondary trading market for consumer goods tokens, with plans to list 100 types of consumer goods tokens within the year to provide bidirectional exposure for brands and users. Third, RWA.LTD | Fund plans to collaborate with established VC funds to focus on brand token ecosystem construction and explore new paths for the synergistic development of consumer brands and on-chain capital. Fourth, RWA.LTD | Bot (rwaclaw.ai, rwabot.ai) has completed domain layout and is currently under development; it will provide consumers with real-time AI price comparisons, intelligent recommendations, and automated ordering tools to enhance decision-making efficiency and consumer experience.

RWA.LTD believes that the traditional consumer market has long suffered from information asymmetry, price opacity, and inactive membership systems, while the combination of blockchain and AI provides a new consumption model. By standardizing, digitizing, and placing consumer rights on-chain, consumers are no longer just end-buyers but can become active participants in the consumption network; brands are no longer limited to one-time interactions with consumers but can build stable, sustainable consumer relationships through on-chain tools.

Consumer RWA Alliance

At the Hong Kong Web3 Festival, the Consumer RWA Alliance, spearheaded by RWA.LTD, was inaugurated. The alliance aims to unite consumer brands, channel platforms, technology service providers, ecological partners, and cross-regional resource providers to jointly promote the co-construction of standards, ecological synergy, and scenario implementation for consumer goods RWA. The alliance members attending the unveiling ceremony included Dr. and Professor Lawrence Yu, Founder and Chairman of the Asia Pacific Economic Leaders’ Confederation; Dr. Wang Ping, President of the RWA Ecological International Federation and Chairman of the Asia Pacific M&A Fund; Dou Jun, Secretary General of the Hong Kong RWA Global Industry Alliance and Executive Secretary General of the Blockchain Professional Committee of the China Communications Industry Association (CCIA); Dr. Yu Jianing, Principal of Uweb Business School (Hong Kong) and Rotating Chairman of the Academic Committee of the Hong Kong Certified Digital Asset Analysts Association (HKCDAA); Dr. Jingle, Founder of Hong Kong Meta Strategy; Dr. Qiu Yueying, CEO of Winchain Technology; Tongjian Sun, CEO of INOVAI TECH K.K.; and Wen Hua, Director of the Australia & New Zealand Center of the Hong Kong RWA Global Industry Alliance, with RWA.LTD CEO Fu, Rao Tony serving as the Chairman. The establishment of the alliance marks an important step for consumer RWA moving from platform exploration to industry collaboration, signifying that the RWA narrative is extending from the relatively singular field of financial assets to the consumer industry which is more closely related to real life.

Industry insiders pointed out that the establishment of the Consumer RWA Alliance holds industry significance beyond platform business. On one hand, it helps break the market’s inherent impression of RWA as being “over-financialized” and encourages the outside world to re-recognize the application value of RWA as digital infrastructure in real consumption scenarios. On the other hand, it provides a new organizational framework for the Asian consumer market, making cross-regional brand cooperation, mutual recognition of consumer rights, and on-chain circulation mechanisms more operational. RWA.LTD stated that it hopes to promote the formation of a more diverse, open, and sustainable RWA world through the alliance mechanism, making RWA not just a synonym for asset securitization, but also a key driver for consumer innovation and industrial upgrading.

Regarding compliance issues of market concern, RWA.LTD provided a brief explanation in this announcement. Consumer goods tokens do not fall within the definition of “virtual assets” under Section 53ZRA of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO), as they are neither payment tokens nor governance tokens. Even if there is overlap in certain characteristics, the relevant tokens can ultimately be defined as “Limited Purpose Digital Tokens” under Section 53ZR of the AMLO, which are explicitly excluded from the scope of “virtual asset” in the AMLO. Based on this, RWA.LTD does not fall within the regulatory scope of the Virtual Asset Trading Platform (VATP) licensing regime. Meanwhile, the U.S. SEC’s previous No-Action Letter to the Fuse project, along with the definition of “Digital Tools” in the regulatory interpretation published on March 17, 2026, further supports the stance that consumer goods tokens are non-securities, non-commodities, and are not regulated under the virtual asset framework. RWA.LTD emphasized that the company consistently adheres to advancing product design and business development within a compliance framework and will continue to monitor regulatory dynamics in different jurisdictions.

The RWA.LTD team possesses a rich international background and overseas market experience, having long followed the development trends of the Web3 and RWA markets in Europe and the United States. The team observed early on that the Asian RWA market has long been concentrated on financial narratives with relatively monotonous scenarios, and platforms that truly integrate deeply with mass consumption and high-frequency lifestyle scenarios remain scarce. Consequently, the team began preparing the consumer goods RWA platform as early as 2024, hoping to take the lead in completing infrastructure, model verification, and resource integration before an industry consensus was formed.

RWA.LTD CEO Fu, Rao Tony pointed out that consumer goods RWA is currently one of the directions most likely to land and scale quickly. Compared to financial RWA, consumer goods RWA has a stronger efficient foundation in terms of compliance structure, user understanding, scenario adaptation, and promotion paths. Its core value lies in using blockchain technology to release liquidity that the consumer industry has long lacked, allowing consumer rights—which were originally fragmented, dormant, non-tradable, or difficult to circulate across regions—to achieve more efficient allocation and redistribution. Through this mechanism, the relationship between brands, platforms, and consumers will be redefined.

Fu, Rao Tony further stated that as the digitalization of the Asian consumer market continues to improve, the combination of consumer RWA and the real consumer industry is expected to release trillion-dollar economic potential in the future. For Hong Kong, this is not just an emerging Web3 track, but could become an important hub connecting international consumer networks with digital asset innovation. Hong Kong possesses unique advantages as an international financial center, an international trade center, and a highland for institutional innovation. If it can take the lead in forming scale synergy in the field of consumer RWA, it has the opportunity to occupy a leading position in the global wave of consumer asset digitalization.

In the future, RWA.LTD will continue to advance its layout around consumer goods RWA infrastructure construction, ecological cooperation expansion, alliance network improvement, and AI consumer tool research and development, exploring new on-chain paradigms for the consumer industry with more brands, institutions, and partners. As the Mall, Exchange, Fund, and Bot sectors gradually mature, RWA.LTD hopes to drive consumer RWA from concept to large-scale application, providing a more efficient, intelligent, and participatory new value network for the Asian and global consumer markets.

About RWA.LTD

RWA.LTD is positioned as the Asian consumer goods asset trading center, committed to enhancing consumption efficiency with AI, reconstructing consumer value distribution with Web3, and establishing cross-city and cross-country consumer alliance networks via tokens. The company focuses on the consumer goods RWA track, continuously promoting the digitalization of consumer rights, the circulation of consumer assets, and the synergy of the consumer ecosystem to explore the future consumption model of “Smarter Consumer”.

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SOURCE RWA.LTD

Technology

Fox ESS Ranks No. 1 Globally in Residential Energy Storage

Published

2 hours ago

April 24, 2026

WENZHOU, China, April 23, 2026 /CNW/ — Fox ESS, a global leader in renewable energy solutions, has been ranked No. 1 among residential energy storage providers worldwide for 2025, based on MWh shipments in S&P Global Energy’s Residential Energy Storage Market Tracker.

The report also places Fox ESS at No. 1 in Germany and the UK, highlighting the company’s momentum in key markets and expanding distribution footprint.

Compared with 2024, Fox ESS’s global market share rose 50% in 2025, reinforcing its position in a rapidly growing residential storage sector. The company has continued to scale internationally, with global headcount doubling from the end of 2024. As of April 2026, Fox ESS employs more than 5,000 people worldwide, and has added local support through new offices, including in Sydney, Australia.

“We’re thrilled for this remarkable achievement. It reflects our commitment to innovation and product quality, and to making clean, reliable energy practical for households around the world,” said Michael Zhu, CEO of Fox ESS. “We will continue pushing the boundaries to deliver solutions that help homes and businesses move toward energy independence.”

Notably, Fox ESS has launched the Champion’s Choice campaign globally, combining the endorsement of sports champions with recognition from prestigious organizations. With the first stop in Australia, the company signed Ian Thorpe, a five-time Olympic champion last December. The campaign underscores Fox ESS’s ambition to deliver better value for customers and partners.

Fox ESS is committed to building long-term trust with customers and partners. The company delivers reliable, high-quality energy storage systems engineered for consistent performance, supported by rigorous quality-control processes designed to help ensure every product meets the highest standards.

Fox ESS develops solutions that serve both installers and end users. With ongoing investment in R&D, the company stays ahead of evolving market needs, helping installers work more efficiently while enabling homeowners to move toward energy transition and reduce electricity costs.

With a team of more than 400 experts in R&D, Fox ESS continues to refine its product design for easier transportation, installation, and everyday use. The AI-powered FoxCloud app also makes energy management more intuitive, enabling users to monitor and control home energy consumption, manage smart devices, and track detailed generation and usage data in a single streamlined platform, delivering greater peace of mind.

View original content to download multimedia:https://www.prnewswire.com/news-releases/fox-ess-ranks-no-1-globally-in-residential-energy-storage-302752471.html

SOURCE Fox ESS

Technology

Deepvein Mining Tech Wins NY Product Design Gold for Exploration Robotics

Published

2 hours ago

April 24, 2026

SHANGHAI, April 23, 2026 /PRNewswire/ — Deepvein Mining Tech, a developer of robotic systems for mining operations, has received Gold at the 2026 NY Product Design Awards for its Intelligent Geological Mapping and Geochemical Sampling Quadrupedal Robots, a robotics series developed for mineral exploration in remote and high-risk field environments.

The NY Product Design Awards, organized by the International Awards Associate (IAA), recognize achievements in product design and industrial innovation worldwide.

Mining exploration has become increasingly costly and technically challenging as easily accessible deposits are depleted, particularly in remote and geologically complex regions where fieldwork can be slow, labor-intensive and operationally demanding.

Deepvein’s award-winning robotics series was developed to address those constraints through a combination of quadrupedal robotic hardware and integrated software systems. The solution supports route planning, equipment coordination, sample logging and geological data management, helping standardize field operations and reduce manual workloads.

Designed for geological mapping and geochemical sampling, the robotic units can autonomously perform targeted collection tasks while reducing repeated manual fieldwork. A single operating cycle can gather approximately 30 to 50 samples.

According to deployment data from company-operated mining assets in Africa, exploration data collection cycles were reduced from around 12 months to one week, while overall workflow costs fell by approximately 40%.

Beyond efficiency gains, the use of robotic systems in steep, high-temperature or hard-to-access areas can help reduce personnel exposure to hazardous conditions. Improved targeting and digital workflow management can also limit unnecessary surface disturbance during early-stage exploration.

Deepvein is developing a broader portfolio of mining robotics covering the industry lifecycle, with future applications expected in transport support, inspection, maintenance and site rehabilitation, alongside continued iteration of its exploration-stage systems.

View original content to download multimedia:https://www.prnewswire.com/news-releases/deepvein-mining-tech-wins-ny-product-design-gold-for-exploration-robotics-302752483.html

SOURCE Deepvein Mining Tech