Company: NSP
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0001000753-25-000008
Chunk: 62

Company: INSPERITY, INC.
Filing Date: 2025-02-11
Form: 10-K
Item: Item 7
Chunk 62
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’ compensation costs and is included in short-term liabilities, while our estimate of incurred claim costs expected to be paid beyond one year is included in long-term liabilities in our Consolidated Balance Sheets.

  422024   Form 10-K

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

New Accounting Pronouncements

We believe that we have implemented the accounting pronouncements with a material impact on our financial statements and do not believe there are any new or pending pronouncements that will materially impact our financial position or results of operations. Please read Note 1 to the Consolidated Financial Statements, “Accounting Policies,” for additional information.

Results of Operations

Key Financial and Statistical Data

(in millions, except per share, WSEE, and statistical data)Year Ended December 31,% Change2024202320222024 v20232023 v2022Financial data:Revenues(1)$6,581 $6,486 $5,939 1 %9 %Gross profit1,052 1,037 1,011 1 %3 %Operating expenses935 818 761 14 %7 %Operating income117 219 250 (47)%(12)%Other income (expense), net9 6 (5)50 %220 %Net income91 171 179 (47)%(4)%Diluted EPS2.42 4.47 4.64 (46)%(4)%Non-GAAP financial measures(2):Adjusted net income$135 $212 $216 (36)%(2)%Adjusted EBITDA270 354 352 (24)%1 %Adjusted EPS3.58 5.52 5.59 (35)%(1)%Average WSEEs paid307,261 312,102 295,005 (2)%6 %Statistical data (per WSEE per month):Revenues(3)$1,785 $1,732 $1,678 3 %3 %Gross profit285 277 286 3 %(3)%Operating expenses253 219 215 16 %2 %Operating income32 58 71 (45)%(18)%Net income25 46 51 (46)%(10)%Adjusted EBITDA(2)73 94 100 (22)%(6)%

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