Exhibit 99.2
On May 1, 2026, Korn Ferry realigned the Company’s organizational reporting structure from a solution-based presentation to a reporting model by geography, with the following three reportable segments: (i) Americas, (ii) Europe, Middle East and Africa (“EMEA”), and (iii) Asia Pacific (“APAC”), to better reflect how work is delivered across the firm, align more closely with how clients buy Korn Ferry services, and support the Company's We Are Korn Ferry operating model. The presentation of operating results prior to May 1, 2026 has been revised to conform to the new segment reporting.
Financial highlights by reportable segments are as follows for each quarter in fiscal 2026:
| | | | | | | | | | | | | | | | | |
| Three Months Ended July 31, 2025 |
| Americas | EMEA | APAC | Corporate | Consolidated |
| (in thousands) |
| Fee revenue | $ | 404,135 | | $ | 218,955 | | $ | 85,523 | | $ | — | | $ | 708,613 | |
| Total revenue | $ | 408,462 | | $ | 220,875 | | $ | 86,206 | | $ | — | | $ | 715,543 | |
| | | | | |
| Less significant segment expenses | | | | | |
Compensation and benefits(1) | $ | 247,771 | | $ | 139,510 | | $ | 52,856 | | $ | 19,766 | | |
General and administrative expenses(2) | 19,548 | | 17,579 | | 9,800 | | 16,947 | | |
| Cost of services | 47,411 | | 26,284 | | 3,499 | | — | | |
Other segment items(3) | (7,015) | | 1,775 | | 282 | | (864) | | |
Segment Adjusted EBITDA(4) | 100,747 | | 35,727 | | 19,769 | | (35,849) | | 120,394 | |
| | | | | |
| Reconciliation of Segment Adjusted EBITDA | | | | |
| Depreciation and amortization | | | | | 22,686 | |
| Interest expense, net | | | | | 3,516 | |
| Integration/acquisition costs | | | | | 1,508 | |
| Income tax provision | | | | | 25,250 | |
| Net income attributable to noncontrolling interest | | | | | 798 | |
| Net income attributable to Korn Ferry | | | | | $ | 66,636 | |
_________________
(1)Includes salaries and payroll taxes, employee insurance benefits, commissions, annual performance-related bonus expense, amortization of unearned compensation, stock-based compensation awards, changes in deferred compensation and pension plan liabilities and changes in CSV of COLI contracts. Excludes integration/acquisition costs as they are excluded from Adjusted EBITDA.
(2)Mainly includes premise and office expense, marketing and business development expense, bad debts, legal and other professional fees and foreign exchange gains/losses.
(3)Includes reimbursed expenses and other income, net.
(4)Consolidated Adjusted EBITDA is a non-GAAP financial measure and has limitations as an analytical tool.
| | | | | | | | | | | | | | | | | |
| Three Months Ended October 31, 2025 |
| Americas | EMEA | APAC | Corporate | Consolidated |
| (in thousands) |
| Fee revenue | $ | 416,659 | | $ | 219,886 | | $ | 85,154 | | $ | — | | $ | 721,699 | |
| Total revenue | $ | 421,684 | | $ | 222,190 | | $ | 85,926 | | $ | — | | $ | 729,800 | |
| | | | | |
| Less significant segment expenses | | | | | |
Compensation and benefits(1) | $ | 250,545 | | $ | 137,174 | | $ | 52,248 | | $ | 20,742 | | |
General and administrative expenses(2) | 20,132 | | 18,218 | | 9,627 | | 16,180 | | |
| Cost of services | 47,219 | | 28,441 | | 3,427 | | — | | |
Other segment items(3) | (1,066) | | 2,176 | | 464 | | (548) | | |
Segment Adjusted EBITDA(4) | 104,854 | | 36,181 | | 20,160 | | (36,374) | | 124,821 | |
| | | | | |
| Reconciliation of Segment Adjusted EBITDA | | | | |
| Depreciation and amortization | | | | | 31,573 | |
| Gain on modification of office lease | | | | | (13,907) | |
| Interest expense, net | | | | | 5,763 | |
| Integration/acquisition costs | | | | | 1,325 | |
| Income tax provision | | | | | 26,645 | |
| Net income attributable to noncontrolling interest | | | | | 1,023 | |
| Net income attributable to Korn Ferry | | | | | $ | 72,399 | |
_________________
(1)Includes salaries and payroll taxes, employee insurance benefits, commissions, annual performance-related bonus expense, amortization of unearned compensation, stock-based compensation awards, changes in deferred compensation and pension plan liabilities and changes in CSV of COLI contracts. Excludes integration/acquisition costs as they are excluded from Adjusted EBITDA.
(2)Mainly includes premise and office expense, marketing and business development expense, bad debts, legal and other professional fees and foreign exchange gains/losses. Excludes Gain on modification of office lease as it is excluded from adjusted EBITDA.
(3)Includes reimbursed expenses and other income, net.
(4)Consolidated Adjusted EBITDA is a non-GAAP financial measure and has limitations as an analytical tool.
| | | | | | | | | | | | | | | | | |
| Three Months Ended January 31, 2026 |
| Americas | EMEA | APAC | Corporate | Consolidated |
| (in thousands) |
| Fee revenue | $ | 408,502 | | $ | 229,474 | | $ | 79,409 | | $ | — | | $ | 717,385 | |
| Total revenue | $ | 413,070 | | $ | 231,752 | | $ | 80,220 | | $ | — | | $ | 725,042 | |
| | | | | |
| Less significant segment expenses | | | | | |
Compensation and benefits(1) | $ | 241,775 | | $ | 144,263 | | $ | 49,411 | | $ | 19,787 | | |
General and administrative expenses(2) | 21,045 | | 19,220 | | 9,449 | | 16,230 | | |
| Cost of services | 48,801 | | 27,879 | | 3,927 | | — | | |
Other segment items(3) | (1,747) | | 2,158 | | 488 | | (710) | | |
Segment Adjusted EBITDA(4) | 103,196 | | 38,232 | | 16,945 | | (35,307) | | 123,066 | |
| | | | | |
| Reconciliation of Segment Adjusted EBITDA | | | | |
| Depreciation and amortization | | | | | 22,994 | |
| Interest expense, net | | | | | 5,663 | |
| Integration/acquisition costs | | | | | 1,587 | |
| Income tax provision | | | | | 26,683 | |
| Net income attributable to noncontrolling interest | | | | | 874 | |
| Net income attributable to Korn Ferry | | | | | $ | 65,265 | |
_________________
(1)Includes salaries and payroll taxes, employee insurance benefits, commissions, annual performance-related bonus expense, amortization of unearned compensation, stock-based compensation awards, changes in deferred compensation and pension plan liabilities and changes in CSV of COLI contracts. Excludes integration/acquisition costs as they are excluded from Adjusted EBITDA.
(2)Mainly includes premise and office expense, marketing and business development expense, bad debts, legal and other professional fees and foreign exchange gains/losses.
(3)Includes reimbursed expenses and other income, net.
(4)Consolidated Adjusted EBITDA is a non-GAAP financial measure and has limitations as an analytical tool.
| | | | | | | | | | | | | | | | | |
| Three Months Ended April 30, 2026 |
| Americas | EMEA | APAC | Corporate | Consolidated |
| (in thousands) |
| Fee revenue | $ | 447,682 | | $ | 229,069 | | $ | 83,021 | | $ | — | | $ | 759,772 | |
| Total revenue | $ | 452,930 | | $ | 231,475 | | $ | 83,851 | | $ | — | | $ | 768,256 | |
| | | | | |
| Less significant segment expenses | | | | | |
Compensation and benefits(1) | $ | 270,885 | | $ | 143,111 | | $ | 52,649 | | $ | 20,092 | | |
General and administrative expenses(2) | 16,484 | | 18,780 | | 9,414 | | 22,981 | | |
| Cost of services | 49,594 | | 29,746 | | 2,922 | | — | | |
Other segment items(3) | 43 | | 2,234 | | 496 | | (699) | | |
Segment Adjusted EBITDA(4) | 115,924 | | 37,604 | | 18,370 | | (42,374) | | 129,524 | |
| | | | | |
| Reconciliation of Segment Adjusted EBITDA | | | | |
| Depreciation and amortization | | | | | 21,591 | |
| Interest expense, net | | | | | 5,056 | |
| Income tax provision | | | | | 29,052 | |
| Net income attributable to noncontrolling interest | | | | | 691 | |
| Net income attributable to Korn Ferry | | | | | $ | 73,134 | |
_________________
(1)Includes salaries and payroll taxes, employee insurance benefits, commissions, annual performance-related bonus expense, amortization of unearned compensation, stock-based compensation awards, changes in deferred compensation and pension plan liabilities and changes in CSV of COLI contracts.
(2)Mainly includes premise and office expense, marketing and business development expense, bad debts, legal and other professional fees and foreign exchange gains/losses.
(3)Includes reimbursed expenses and other income, net.
(4)Consolidated Adjusted EBITDA is a non-GAAP financial measure and has limitations as an analytical tool.