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DHI Group Inc. (DHX-1.47%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports that DHI Group's revenue for 2024 was $141.9 million, a decrease from $151.9 million in 2023. The reduction in revenue was primarily due to a decrease in the Dice brand's performance, which saw a 13.5% decline in revenue.
ClearanceJobs, another brand under DHI Group, reported a 7.5% increase in revenue, attributed to high demand for professionals with government clearance and new product releases.
Operating expenses for the year were $135.6 million, down from $145.6 million in 2023. The decrease was largely due to reductions in sales and marketing expenses, which fell by $10 million.
Net income for 2024 was $253,000, compared to $3.5 million in 2023. The decline was influenced by higher tax expenses and lower revenue.
The company reported an adjusted EBITDA of $35.3 million, a slight decrease from $36.3 million in 2023. Adjusted EBITDA margin improved to 25% from 24% the previous year.
DHI Group reduced its outstanding debt by $6 million in 2024, bringing the total to $32 million. Cash on hand at year-end was $3.7 million.
The company announced a new stock repurchase program in January 2025, authorizing the repurchase of up to $5 million of its common stock through February 2026.
DHI Group also adopted a Section 382 rights plan to preserve its net capital loss carryforwards, creating a disincentive for any shareholder to acquire 4.99% or more of the company's stock without board approval.
The filing highlights the company's strategic focus on its Tech-focused segment, which includes the ClearanceJobs and Dice brands, as well as corporate-related costs.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the DHI Group Inc. annual 10-K report dated February 12, 2025. To report an error, please email earnings@qz.com.