Company: NSP
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001000753-25-000107
Chunk: 46

Company: INSPERITY, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 7
Chunk 46
---
Amounts payable for withheld federal and state income taxes, employment taxes and other payroll deductions 284 830 Client prepayments36 91 Adjusted cash, cash equivalents and marketable securities$120 $134 

Insperity | 2025 Third Quarter Form 10-Q34

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

Following is a reconciliation of net income (loss) (GAAP) to EBITDA (non-GAAP) and adjusted EBITDA (non-GAAP):

Three Months Ended September 30,Nine Months Ended September 30,(in millions, except per WSEE per month)2025202420252024Per WSEEPer WSEEPer WSEEPer WSEENet income (loss)$(20)$(21)$3 $3 $26 $9 $100 $36 Income tax (benefit) expense(4)(4)— — 16 7 39 13 Interest expense6 6 7 8 18 6 21 8 Amortization of SaaS implementation costs1 1 1 1 4 1 7 3 Depreciation and amortization11 12 11 12 33 12 33 12 EBITDA(6)(6)22 24 97 35 200 72 Stock-based compensation16 17 17 18 47 17 47 17 Adjusted EBITDA$10 $11 $39 $42 $144 $52 $247 $89 Net income (loss) % change period over period(767)%(800)%(93)%(94)%(74)%(75)%(34)%(33)%Adjusted EBITDA % change period over period(74)%(74)%(59)%(58)%(42)%(42)%(17)%(16)%

Following is a reconciliation of net income (loss) (GAAP) to adjusted net income (loss) (non-GAAP):

Three Months Ended September 30,Nine Months Ended September 30,(in millions)2025202420252024Net income (loss)$(20)$3 $26 $100 Non-GAAP adjustments:Stock-based compensation16 17 47 47 Tax effect(4)(5)(12)(13)Total non-GAAP adjustments, net