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

SiMa.ai Wins Edge AI + Vision Alliance 2026 Product of the Year for Modalix SoM

Published

51 minutes ago

April 20, 2026

SAN JOSE, Calif., April 20, 2026 /PRNewswire/ — SiMa.ai, a leader in Physical AI, today announced it has been named the winner of the “Best Edge AI Board” by the Edge AI + Vision Alliance’s 2026 Product of the Year Awards — recognizing breakthrough innovation where machine intelligence meets real-world applications.

“We are moving from passive edge to Physical AI — where machines reason and act autonomously in the real world. Being recognized by the Edge AI and Vision Alliance affirms what SiMa.ai was founded to deliver: high performance without the power drain, and a true platform for this transition. Our purpose-built Modalix MLSoC, paired with Palette, our software suite, addresses the full spectrum of use cases — from computer vision to reasoning-based analytics. Combined with our deep partner collaboration, we are enabling customers across industries to get to market faster and more efficiently,” said Durga Peddireddy, Vice President of Product Management & Partnerships, SiMa.ai.

This recognition builds on the momentum of SiMa.ai’s Modalix™ MLSoC System-on-Module (SoM), launched in 2025. Modalix powers generative AI (GenAI), computer vision, and machine learning (ML) inference at the edge, combining Arm-based compute, advanced vision processing, and high-bandwidth I/O into a single, low-power module designed for power-constrained environments.

Physical AI deployments often face significant hurdles, including high power consumption, thermal limits, and the need for expensive hardware redesigns. The Modalix platform addresses these challenges by allowing customers to modernize existing systems quickly, bringing powerful AI closer to the data source without requiring a total infrastructure overhaul.

By enabling advanced perception, multimodal reasoning, and real-time decision-making directly on-device, the platform eliminates the need for high-power GPU hardware. This efficiency unlocks scalable deployments across industrial automation, robotics, and intelligent video applications.

The Edge AI + Vision Alliance brings together leading multinational companies and emerging innovators, connecting thousands of technical professionals across the industry. As the winner of the “Best Edge AI Board” category for the 2026 Product of the Year Awards, SiMa.ai is recognized for Modalix’s ability to deliver efficient, high-performance Physical AI at the edge in under 10W.

About SiMa.ai
SiMa.ai is a leader in Physical AI, delivering a purpose-built, software-centric platform that brings best-in-class performance, power efficiency, and ease of use to Physical AI applications. Focused on scaling Physical AI across robotics, automotive, industrial automation, aerospace & defense, smart vision, and healthcare, SiMa.ai is led by seasoned technologists and backed by top-tier investors. Headquartered in San Jose, California. Learn more at www.sima.ai.

View original content to download multimedia:https://www.prnewswire.com/news-releases/simaai-wins-edge-ai–vision-alliance-2026-product-of-the-year-for-modalix-som-302746512.html

SOURCE SiMa.ai

Technology

Critical Minerals Standards: ANSI Launches Initiative to Strengthen U.S. Supply Chains and Request for Information

Published

51 minutes ago

April 20, 2026

New initiative maps the standards landscape, convenes stakeholders, and builds toward a national strategy

NEW YORK, April 20, 2026 /PRNewswire/ — The American National Standards Institute (ANSI) is launching a multi-phase initiative to strengthen U.S. coordination on critical minerals standards — the shared rules and benchmarks that help ensure minerals are sourced responsibly, supply chains remain secure, and American industry stays competitive globally. This initiative moves forward thanks to the U.S. Department of Energy’s Advanced Mining and Mineral Production Technologies Office, whose partnership made it possible to act on one of the nation’s most pressing industrial priorities. It directly responds to U.S. government priorities to secure domestic supply chains and reduce dependence on foreign sources of critical minerals.

This effort brings together U.S. stakeholders to coordinate national standards priorities, positioning American industry and government to contribute meaningfully to the success of the G7 Critical Minerals Standards Roadmap while harnessing the momentum of the current administration’s focus on supply chain resilience and domestic competitiveness.

The initiative includes a standards landscape assessment, a webinar series, a two-day hybrid workshop, and a summary report with recommended next steps. A call for webinar speakers and a request for information for the standards landscape is open.

Why This Matters

Critical minerals are foundational to national defense, clean energy, advanced electronics, manufacturing, and infrastructure. Yet as global demand rises, the U.S. faces real risks: fragmented efforts at home, supply chain vulnerabilities, and growing urgency to align on the international rules that govern how these materials are sourced, processed, and traded.

Standards bring order to that complexity. They promote transparency and traceability across supply chains, help U.S. companies access global markets, and give the public and private sectors a common framework for investment. Without a coordinated approach, the U.S. risks ceding influence to competitors who are already moving.

What the Initiative Includes

ANSI connects the organizations that develop standards with the industries that rely on them. To accelerate U.S. leadership on critical minerals, ANSI will deliver:

A standards landscape assessment that maps the current state of play: which standards exist, which organizations develop them, where work is underway, and where gaps remain. The assessment will cover the full supply chain — from extraction through processing, manufacturing, and recovery — and consolidate prior mapping efforts into a single, accessible resource. A Request for Information (RFI) is open.A webinar series to raise awareness of existing standards and regulatory activities related to critical minerals, including a dedicated session for U.S. government stakeholders. Briefings will feature standards developers working across the supply chain. Speakers invited and registration is open.A two-day hybrid workshop convening federal agencies, standards organizations, and industry to identify high-priority needs, explore challenges, and inform the development of a U.S. critical minerals standards strategy this September in the Washington, DC area. A summary report will capture key findings, gaps, and recommended next steps.

Ongoing Coordination

ANSI also convenes a quarterly U.S. ISO Critical Minerals Standards Coordination Group for members of U.S. delegations to ISO Technical Committees. The group serves as a forum to share information, coordinate engagement, and align international standards activities. The next meeting is April 24 — registration is now open.

About ANSI

The American National Standards Institute (ANSI) is a private non-profit organization whose mission is to enhance both the global competitiveness of U.S. business and the U.S. quality of life by promoting and facilitating voluntary consensus standards and conformity assessment systems, and safeguarding their integrity. Its membership is comprised of businesses, professional societies and trade associations, standards developers, government agencies, and consumer and labor organizations.

The Institute represents and serves the diverse interests of more than 270,000 companies and organizations and 30 million professionals worldwide. ANSI is the official U.S. representative to the International Organization for Standardization (ISO) and, via the U.S. National Committee, the International Electrotechnical Commission (IEC). For more information, visit www.ansi.org and access the latest news and content on LinkedIn, X, and Facebook.

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SOURCE American National Standards Institute

Technology

Bobby Lehew Named commonsku’s Chief AI Officer — an Industry First in Promo

Published

2 hours ago

April 20, 2026

TORONTO, April 20, 2026 /CNW/ – commonsku, the connected workflow platform trusted by 950+ distributors driving $1.9 billion in network volume, today announced the creation of a dedicated AI + Strategy role, promoting Bobby Lehew to Chief AI Officer to lead the company’s AI initiative for customers and the platform. The move makes commonsku the first platform in the promotional products industry to invest at the leadership level in AI strategy shaped directly by distributor needs.

The new role bridges the gap between what AI can do and what commonsku’s customers need it to solve, owning the intelligence loop between customers, product, and the AI landscape. What makes the role distinct: it combines AI landscape intelligence, product strategy influence, direct customer engagement, and industry thought leadership in a single role.

A Natural Evolution

Lehew brings more than 30 years of experience in the promotional products industry to the role. Prior to joining commonsku, he was the CEO of Robyn Promotions, a company among the first wave of distributors who architected the model of technology driven e-commerce company stores in the industry, earning three consecutive Inc. 5000 rankings. Always tech-forward in his work, his industry recognition includes multiple Gold and Silver PPAI Pyramid Awards.

The shift to AI strategy is a natural next chapter for Lehew. At commonsku, he built the company’s content engine from scratch — co-hosting the skucast (350+ episodes, the #1 promotional products podcast) while leaning heavily into AI for all his work. He is editor of The AI Promo Brief, the industry’s go-to resource for AI developments in promotional products, and speaks frequently on the future of merch and the cultural shifts transforming how we sell. At PPAI Expo 2026, his AI session packed the room to capacity and was named a must-attend session by PPAI editors. The industry has been watching Lehew move deeper into AI for over a year. This role makes it official.

Investing in AI for Customers

“The industry is at an inflection point with AI, and distributors need a partner who understands their business,” said Catherine Graham, CEO of commonsku. “commonsku has always been built ‘by promo, for promo.’ Bobby has three decades of that expertise, a passion for helping our customers, and the strategic insight to shape AI tools for future growth. This role reflects our mission: making sure our AI tools solve real problems for real distributors.”

“The companies pulling ahead are the ones leading with customer intelligence – letting what they learn from their community shape what they build and advancing with the frontier of AI development. That’s what this role is designed to do. I’ll be talking with our customers at every level about AI and making sure the features we build make work smarter, drive growth, and eliminate friction.” said Lehew.

“Bobby and I have been creative partners for years, always pushing each other to see around corners for this industry,” said Mark Graham, President of commonsku. “We’ve launched multiple projects together and helped educate and raise the standard for what the future distributor can look like. This role is a natural evolution of that passion. He deeply understands the industry and the distributor’s pain points, and he sees with us an incredible opportunity with AI. We’re thrilled to build commonsku’s AI future together.”

commonsku’s AI investments are already in motion. The skubot Mockup Generator is in beta with Advanced and Enterprise customers, a new Opportunity Agent is entering beta as an AI-powered business intelligence tool, and the company’s immediate roadmap includes a Description Rewriter, Auto-Art Configuration, and a Presentation Generator with much more to come.

About commonsku

commonsku is the workflow platform of choice for the promotional products industry. Built by industry experts, it combines CRM, order management, and social collaboration tools in one cloud-based solution. Over 950 distributors and the industry’s largest suppliers rely on commonsku to power $1.9 billion in network volume. With commonsku, teams process more orders, work more efficiently, and grow their sales faster. Learn more at www.commonsku.com.

SOURCE commonsku