Company: NSP
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001000753-25-000107
Chunk: 16

Company: INSPERITY, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 8
Chunk 16
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together, our “PEO HR Solutions”), which we provide by entering into a co-employment relationship with our clients. Our PEO HR Solutions encompass a broad range of HR functions, including payroll and employment administration, employee benefits, workers’ compensation, government compliance, performance management, and training and development services, along with our cloud-based human capital management solution, the Insperity PremierTM platform.

2025 Highlights

Third Quarter 2025 Compared to Third Quarter 2024

•Average number of WSEEs paid per month increased 1%

•Net income (loss) and diluted earnings per share (“EPS”) decreased to $(20) million and $(0.53), respectively

•Adjusted net income (loss) and adjusted EPS decreased 153% and 151% to $(8) million and $(0.20), respectively

•Adjusted EBITDA decreased 74% to $10 million

First Nine Months 2025 Compared to First Nine Months 2024

•Average number of WSEEs paid per month increased 1%

•Net income and diluted EPS both decreased 74% to $26 million and $0.69, respectively

•Adjusted net income and adjusted EPS both decreased 54% to $61 million and $1.63, respectively

•Adjusted EBITDA decreased 42% to $144 million

Please read “Non-GAAP Financial Measures” for a reconciliation of adjusted EBITDA, adjusted net income, and adjusted EPS to their most directly comparable financial measures calculated and presented in accordance with accounting principles generally accepted in the United States (“GAAP”).

Insperity | 2025 Third Quarter Form 10-Q20

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

Results of Operations

Key Financial and Statistical Data

(in millions, except per share, WSEE and statistical data)Three Months Ended September 30,Nine Months Ended September 30,20252024% Change20252024% ChangeFinancial data:Revenues$1,623 $1,561 4 %$5,144 $4,968 4 %Gross profit195 229 (15)%728 834 (13)%Operating expenses220 228 (4)%692 702 (1)%Operating income (loss)(25)1 — 36 132 (73)%Other income1 2 (50)%6 7 (14)%Net