v3.25.3
Segment Reporting (Tables)
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Schedule of Revenues and Adjusted Segment Earnings before Interest, Taxes, Depreciation and Amortization for Reportable Segments
The tables below summarize revenues, significant expenses and gross profit by reportable segment:
Three Months Ended September 30, 2025Corporate
Finance		FLCEconomic
Consulting		TechnologyStrategic CommunicationsTotal
Revenues$404,896 $194,689 $173,086 $94,081 $89,415 $956,167 
Direct costs
Compensation expenses (1)
229,204 114,996 131,804 37,242 47,415 560,661 
Other segment items (2)
24,099 5,278 15,393 24,920 7,882 77,572 
253,303 120,274 147,197 62,162 55,297 638,233 
Segment gross profit (3)
$151,593 $74,415 $25,889 $31,919 $34,118 $317,934 
Nine Months Ended September 30, 2025Corporate
Finance		FLCEconomic
Consulting		TechnologyStrategic CommunicationsTotal
Revenues$1,127,780 $571,808 $544,604 $274,836 $279,083 $2,798,111 
Direct costs
Compensation expenses (1)
664,564 340,359 395,813 110,892 142,432 1,654,060 
Other segment items (2)
66,462 18,636 39,672 74,392 35,080 234,242 
731,026 358,995 435,485 185,284 177,512 1,888,302 
Segment gross profit (3)
$396,754 $212,813 $109,119 $89,552 $101,571 $909,809 
Three Months Ended September 30, 2024Corporate
Finance		FLCEconomic
Consulting		TechnologyStrategic CommunicationsTotal
Revenues$341,512 $168,778 $222,033 $110,404 $83,292 $926,019 
Direct costs
Compensation expenses (1)
210,774 105,584 143,096 38,691 45,411 543,556 
Other segment items (2)
21,184 7,916 15,097 32,886 7,440 84,523 
231,958 113,500 158,193 71,577 52,851 628,079 
Segment gross profit (3)
$109,554 $55,278 $63,840 $38,827 $30,441 $297,940 
Nine Months Ended September 30, 2024Corporate
Finance		FLCEconomic
Consulting		TechnologyStrategic CommunicationsTotal
Revenues$1,055,493 $514,348 $657,454 $326,992 $249,441 $2,803,728 
Direct costs
Compensation expenses (1)
635,587 321,896 431,270 114,267 136,243 1,639,263 
Other segment items (2)
66,130 23,922 45,402 93,829 23,316 252,599 
701,717 345,818 476,672 208,096 159,559 1,891,862 
Segment gross profit (3)
$353,776 $168,530 $180,782 $118,896 $89,882 $911,866 
(1)The significant expense category and amounts align with the segment-level information that is regularly provided to the CODM.
(2)Other segment items include expenses for contractor fees, depreciation and other costs. In our Technology segment, other segment items also include expenses related to software, licensing and data storage.
(3)Includes internal cost recovery for work performed on corporate projects of $5.0 million and $12.9 million for the three and nine months ended September 30, 2025, respectively, and $4.3 million and $12.0 million for the three and nine months ended September 30, 2024, respectively. Costs associated with billable work performed on corporate projects are included in unallocated corporate expenses as SG&A expenses in the Condensed Consolidated Statements of Comprehensive Income.
Schedule of Reconciliation of Net Income to Adjusted Segment Earnings Before Interest, Taxes, Depreciation and Amortization
The table below reconciles income before income tax provision to total segment gross profit:
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Income before income tax provision$111,728 $88,786 $284,248 $290,963 
Add back:
Interest expense 7,634 1,197 13,859 6,235 
Interest income and other(1,692)909 (2,466)(2,581)
Amortization of intangibles780 1,053 2,850 3,149 
Special charges— — 25,295 — 
Selling, general and administrative expenses 199,484 205,995 586,023 614,100 
Total segment gross profit$317,934 $297,940 $909,809 $911,866