Description
Why Is Exponent Seeing Growth Despite Declining Billable Hours?
Exponent, Inc. reported financial results for the fourth quarter and fiscal year 2025 reflecting a broadly positive performance marked by portfolio diversification and resilience amid varying market conditions. The company delivered an 8% year-over-year increase in total revenues for the fourth quarter to $147.4 million, with net revenues rising 5% to $129.4 million. Adjusting for the one fewer week in the quarter compared to the prior year, net revenue growth would be in the low double digits. Net income for the quarter was $24.8 million, or $0.49 per diluted share, compared to $23.6 million, or $0.46 per diluted share, in the prior year period. EBITDA margin improved to 26.8%, up from 25.2% a year earlier. Billable hours declined marginally by 1% but showed a 6% increase on a normalized weekly basis, while the average number of technical full-time equivalent employees grew 5% year-over-year.
