Mon, Mar 3, 9:33 PM (54 days ago)
**Heidrick & Struggles International, Inc. (HSII) 2024 10-K Summary** For the fiscal year ended December 31, 2024, Heidrick & Struggles reported consolidated net revenue of $1,099 million, a 7% increase from $1,027 million in 2023. Executive Search revenue rose to $818 million (+5%), driven by higher average fees, while On-Demand Talent and Heidrick Consulting segments grew by 10% and 19%, respectively. Net income decreased to $8.7 million, with a diluted EPS of $0.41, reflecting increased operating expenses, particularly in salaries and benefits, which rose to 65.1% of revenue. The company incurred $59.5 million in impairment charges, primarily in the On-Demand Talent segment, impacting profitability. Adjusted EBITDA decreased to $111 million (10.1% margin), down from $126 million (12.2% margin) in 2023. Strategically, HSII expanded its consulting capabilities through acquisitions, enhancing its service offerings. The company maintains a strong liquidity position with $564 million in cash and marketable securities. However, risks include market volatility, cybersecurity threats, and economic uncertainties affecting client demand. Overall, while revenue growth is positive, the company faces challenges in maintaining profitability amidst rising costs and impairment losses.