v3.25.2
Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information

NOTE 15 – SEGMENT INFORMATION

The Company provides a broad array of professional services to its clients across several markets, primarily within the U.S. The Company operates as a single reportable and operating segment because the chief operating decision maker (the “CODM”), which is the Chief Executive Officer, manages the business activities on a consolidated basis. Although the Company disaggregates revenue by client market and client type, it does not manage its business or allocate resources based on client market or client type.

The CODM assesses segment performance based on consolidated net income as reported on the Company’s consolidated statements of comprehensive income. The CODM uses consolidated net income to evaluate the Company’s performance against budgets and decide whether to use the profits to invest in the business, pay down debt, repurchase stock, pay dividends, or fund acquisitions. Asset information provided to the CODM is not used for the purpose of making decisions and assessing performance of the Company.

The segment revenue, significant segment expenses, and segment profit are as follows:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Revenue

 

$

476,155

 

 

$

512,029

 

 

$

963,773

 

 

$

1,006,465

 

Significant segment expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Direct labor and related fringe costs

 

 

186,140

 

 

 

196,521

 

 

 

378,070

 

 

 

386,544

 

Subcontractors and other direct costs

 

 

112,285

 

 

 

132,810

 

 

 

222,897

 

 

 

253,320

 

Indirect and selling expenses

 

 

123,017

 

 

 

127,091

 

 

 

254,908

 

 

 

256,185

 

Depreciation and amortization

 

 

5,475

 

 

 

4,909

 

 

 

10,793

 

 

 

10,483

 

Amortization of intangible assets acquired in business combinations

 

 

9,227

 

 

 

8,291

 

 

 

18,704

 

 

 

16,582

 

Interest expense

 

 

8,498

 

 

 

7,754

 

 

 

15,921

 

 

 

16,083

 

Provision for income taxes

 

 

6,289

 

 

 

9,129

 

 

 

9,439

 

 

 

16,148

 

Other segment expense (income) (1)

 

 

1,563

 

 

 

(87

)

 

 

2,529

 

 

 

(1,808

)

Net Income

 

$

23,661

 

 

$

25,611

 

 

$

50,512

 

 

$

52,928

 

(1) Other segment expense (income) includes interest income, foreign currency expense, and gains/losses on disposition of assets.