Company: NSP
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001000753-25-000023
Chunk: 16

Company: INSPERITY, INC.
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 8
Chunk 16
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 our performance, including:

•WSEEs

•Adjusted EBITDA

•Adjusted EPS

Our growth in the number of WSEEs paid is affected by 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 Q1 2025, average WSEEs paid increased 1% compared to Q1 2024. The number of WSEEs paid from new client sales and client retention increased compared with Q1 2024, while the net change in our client base decreased compared with Q1 2024.

Average WSEEs Paid and

Year-over-Year Growth Percentage

Insperity | 2025 First Quarter Form 10-Q21

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

Net Income and

Year-over-Year Growth Percentage

(in millions)

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

Insperity | 2025 First Quarter Form 10-Q22

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

EPS and 

Year-over-Year Growth Percentage

(amounts per share)

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

Revenues

Our PEO HR Outsourcing 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.

Insperity | 2025 First Quarter Form 10-Q23

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

Revenue and

Year-over-Year Growth Percentage

(in millions)

First Quarter 2025 Compared to First Quarter 2024

Our revenues for Q1 2025 were $1.9 billion, an increase of 3%, primarily due to the following:

•Average WSEEs paid increased 1%.

•Revenues per WSEE per month increased 3%, or