EXPO
Exponent, Inc.74.20
-0.48-0.64%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A spotlights AI growth drivers
Q&A detailed consumer electronics user research rebound, tied to AI in health wearables and novel form factors like glasses and audio devices—diversifying clients beyond past weakness. Energy leads 2026 growth via utility risk management, disputes in wind/solar/gas turbines, and data center failure analysis; chemicals add PFAS momentum. AI proves net benefit (mid-teens of business), unlocking efficiencies yet amplifying PhD-level needs as clients' models falter in safety-critical spots. Headcount nets 40-50, focused on transportation/energy, sans margin drag. AI fuels demand. Watch hiring pace versus high-single-digit guide.
Key Stats
Market Cap
3.75BP/E (TTM)
36.55Basic EPS (TTM)
2.03Dividend Yield
0.02%Recent Filings
10-K
FY2025 results
Exponent posted FY2025 revenues of $582M, up 4% y/y despite a 2% drop in billable hours to 1.5M, with Engineering and Other Scientific up 5% on higher billing rates but Environmental and Health down 1% from softer regulatory work. Q4 saw aggressive share repurchases of 355K shares at ~$71 while maintaining 73% utilization across 973 technical FTEs, up 1% y/y. Operating margins held firm at 20.6% even as occupancy costs rose from Arizona lease extension and G&A spiked on a managers' meeting. Cash at $222M funds robust capital returns. Clients can terminate abruptly.
8-K
Q4 revenues up 4.5%
Exponent reported Q4 revenues before reimbursements up 4.5% to $129.4M despite one fewer week, with net income rising to $24.8M and EBITDA margins expanding to 26.8%. Full-year revenues before reimbursements grew 3.5% to $536.8M, ending with $221.9M cash after $61.5M dividends and $97.8M buybacks. Board hiked quarterly dividend to $0.31/share, payable March 20. Growth accelerates in 2026.
10-Q
Q3 FY2025 results
Exponent posted Q3 revenues of $147.1M, up 8% y/y, with Engineering and Other Scientific (84%) growing 7.6% on higher billable hours and rates in utilities and disputes, while Environmental and Health (16%) rose 9.8% via chemicals consulting. Operating income climbed 12% to $29.0M, diluted EPS $0.55 (up from $0.50); YTD operating income dipped 1.8% to $90.6M despite 3% revenue gain, EPS $1.58 (vs $1.66, anti-dilution flagged). Cash fell to $207.4M after $76.1M OCF minus $6.7M capex and $72.7M buybacks. No debt. Repurchases accelerated. Solid margins endure.
8-K
Q3 revenues surge 10%
Exponent reported Q3 2025 revenues before reimbursements up 10% to $137.1 million, with net income rising to $28.0 million or $0.55 per share, fueled by dispute work in energy and transportation yet offset by softer consumer electronics. The board declared a $0.30 quarterly dividend payable December 19 and boosted share repurchase authorization by $100 million atop $21.6 million remaining. Strong cash flows enable this return. Guidance holds for low-single-digit full-year revenue growth.
10-Q
Q2 FY2025 results
Exponent's Q2 revenues edged up 1% year-over-year to $142M, driven by higher billing rates in engineering and scientific services amid softer demand in environmental health, while billable hours dipped 6% to 359,000 and utilization slipped to 72%. Operating income fell 52% to $17M due to elevated compensation from salary hikes and deferred comp swings, yet net income held at $27M with diluted EPS of $0.52 on 51.5M shares—anti-dilution excluded 176K options. Free cash flow came in at $39M (derived), supporting $232M in cash despite $33M in stock buybacks and dividends. The Arizona land lease extension through 2043 adds predictable occupancy costs. Volatility in deferred comp assets remains a quirk. Competition from larger consultancies pressures margins.
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