DHI Group Inc

NYSE:DHXUnited States

May 8, 2024

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• -- Earnings Flash (DHX) DHI GROUP Posts Q1 Revenue $36M, vs. Street Est of $36.1M, from 4:29PM ET on Wednesday May 08, 2024 by MT Newswires

  4:29PM ET on Wednesday May 08, 2024 by MT Newswires
  Companies Mentioned: DHX
  04:29 PM EDT, 05/08/2024 (MT Newswires) -- ...

• DHI Group Reports 2024 First Quarter Financial Results, from 4:15PM ET on Wednesday May 08, 2024 by Business Wire

  4:15PM ET on Wednesday May 08, 2024 by Business Wire
  Companies Mentioned: DHX

  DHI Group, Inc. (NYSE: DHX) ("DHI" or the "Company") today announced financial results for the first quarter ended March 31, 2024.

  First Quarter 2024 Financial Highlights(1)

  Total revenue was $36.0 million, down 7% year over year. Total bookings were $48.8 million, down 9% year over year. Net loss was $1.5 million, or a negative $0.03 per diluted share, a net loss margin of 3%, compared to net income of $0.5 million, or $0.01 per diluted share, a net income margin of 1%, in the year-ago quarter. Non-GAAP earnings per share for both the current and prior year quarter was $0.05 per diluted share. Adjusted EBITDA was $8.6 million, up 6% year over year, and Adjusted EBITDA Margin was 24%, up from 21% in the year-ago quarter. Cash flow from operations was $2.1 million, up from $0.0 million in the year-ago quarter. Cash was $3.2 million at quarter end compared to $4.2 million at the prior quarter end and total debt was $41.0 million at quarter end compared to $38.0 million at the prior quarter end and $46.0 million in the year-ago quarter.

• DHI Group Reports 2024 First Quarter Financial Results, from 4:15PM ET on Wednesday May 08, 2024 by Dow Jones

  4:15PM ET on Wednesday May 08, 2024 by Dow Jones
  Companies Mentioned: DHX
  Recruitment Package Customers -------------------------------------------------- March 31, 2024 March 31, 2023 Change % Change -------------- -------------- ------ ---------- Dice 5,250 6,171 (921) (15)% ClearanceJobs 2,032 2,078 (46) (2)% Deferred Revenue and Backlog(1) --------------------------------------------------------------------------- Comparison to Prior Year End Comparison Year Over Year --------------------------------- ------------------------------ March March 31, December 31, 2024 31, 2023 $ Change % Change 2023 $ Change % Change -------- --------- ---------- ---------- -------- -------- ---------- Deferred Revenue $ 55,716 $ 49,971 $ 5,745 11% $ 58,844 $(3,128) (5)% Contractual commitments not invoiced 58,825 58,126 699 1% 65,389 (6,564) (10)% ------- -------- ------ --- ---- ------- ------ ---- Backlog $114,541 $ 108,097 $ 6,444 6% $124,233 $(9,692) (8)% ======= ======== ====== === ==== ======= ====== ==== (1) Backlog consists of deferred revenue plus customer contractual commitments not invoiced representing the value of future services to be rendered under committed contracts. Non-GAAP Earnings Per Share(1) ---------------------------------------- Q1 2024 Q1 2023 -------------------- ------------------ Reconciliation of Diluted Earnings Per Share to non-GAAP Earnings per Share: Diluted earning (loss) per share $ (0.03) $ 0.01 Non-cash stock-based compensation(2) 0.04 0.05 Impairments, net of tax 0.01 -- Severance and related costs -- 0.01 Discrete tax items(3) 0.05 (0.01) Other(3) (0.02) (0.01) ------------ ----------- Non-GAAP earnings per share $ 0.05 $ 0.05 ============ =========== Weighted average shares outstanding used in computing diluted earnings (loss) per share 44,210 45,240 Weighted average shares outstanding used in computing non-GAAP earnings per share 44,835 45,240 (1) Non-GAAP earnings per share was previously titled Adjusted Diluted Earnings Per Share. (2) The Company revised its definition of non-GAAP earnings per share beginning with the first quarter of 2024 to exclude the impact of non-cash stock-based compensation expense. All prior periods have been recast to conform with the revised definition. See "Notes Regarding the Use of Non-GAAP Financial Measures" elsewhere in the document. (3) Adjusts, as applicable, for the share impact of common stock equivalents, where dilutive, and for the impacts of rounding. DHI GROUP, INC. NON-GAAP & SUPPLEMENTAL DATA (CONTINUED) (Unaudited) (in thousands, except per share and customer data) Adjusted EBITDA Reconciliations ----------------------------------------- Q1 2024 Q1 2023 -------------------- ------------------- Reconciliation of Net Income (Loss) to Adjusted EBITDA: Net income (loss) $ (1,512) $ 460 Interest expense 946 798 Income tax expense (benefit) 2,269 (514) Depreciation 4,456 4,173 Non-cash stock-based compensation 2,144 2,887 Income from equity method investment (134) (171) Impairment of investment 400 -- Severance and related costs -- 421 ------------ ------------ Adjusted EBITDA $ 8,569 $ 8,054 ============ ============ Reconciliation of Cash Flows from Operating Activities to Adjusted EBITDA: Net cash provided by operating activities $ 2,087 $ 11 Interest expense 946 798 Amortization of deferred financing costs (36) (36) Income tax expense (benefit) 2,269 (514) Deferred income taxes (980) 848 Change in accrual for unrecognized tax benefits (81) (60) Change in accounts receivable 9,535 4,153 Change in deferred revenue (5,744) (7,981) Severance and related costs -- 421 Changes in working capital and other 573 10,414 ------------ ------------ Adjusted EBITDA $ 8,569 $ 8,054 ============ ============