Company: NSP
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001000753-25-000107
Chunk: 18

Company: INSPERITY, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 8
Chunk 18
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 three primary sources: new client sales, client retention and the net change in WSEEs paid at existing clients through new hires and employee terminations.

•During Q3 2025, average WSEEs paid increased 1% compared to Q3 2024. The number of WSEEs paid from new client sales and the net change in our client base slightly decreased compared with Q3 2024, while client retention remained consistent with Q3 2024.

•During the first nine months of 2025 (“YTD 2025”), average WSEEs paid increased 1% compared to the first nine months of 2024 (“YTD 2024”). The number of WSEEs paid from new client sales, client retention and the net change in our client base increased when compared to YTD 2024.

Average WSEEs Paid and

Year-over-Year Growth Percentage

Insperity | 2025 Third Quarter Form 10-Q22

     MANAGEMENT’S DISCUSSION AND ANALYSIS OF      FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Net Income (Loss) andYear-over-Year Growth Percentage(in millions)

Adjusted EBITDA andYear-over-Year Growth Percentage(in millions)

Insperity | 2025 Third Quarter Form 10-Q23

     MANAGEMENT’S DISCUSSION AND ANALYSIS OF      FINANCIAL CONDITION AND RESULTS OF OPERATIONS

EPS andYear-over-Year Growth Percentage(amounts per share)

Adjusted EPS andYear-over-Year Growth Percentage(amounts per share)

Insperity | 2025 Third Quarter Form 10-Q24

     MANAGEMENT’S DISCUSSION AND ANALYSIS OF      FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Revenues

Our PEO HR Solutions revenues are primarily derived from our gross billings, which are based on (1) the payroll cost of our WSEEs and (2) a monthly markup component.

Our revenues are primarily dependent on the number of clients enrolled, the resulting number of WSEEs paid each period and the number of WSEEs enrolled in our benefit plans. Because our monthly markup is computed in part as a percentage of payroll cost, certain revenues are also affected by the payroll cost of WSEEs, which may fluctuate based on the composition of the WSEE base, inflationary effects on wage levels and differences in the local economies of our markets.

Revenue and

Year-over-Year Growth Percentage

(in millions)

Third Quarter 2025 Compared to Third