DHI GROUP, INC. DHX
This section provides an overview of DHI Group, Inc. ("DHI," the "Company," "we," "us," or "our"). Please see our consolidated financial statements included elsewhere in this report for additional discussion regarding our results of operations for the year ended December 31, 2025.
Net income (loss) margin (11) % — % n.m.
(1) For the year ended December 31, 2025, net loss and diluted loss per share includes the net negative impact of non-cash stock-based compensation, restructuring, impairments, and severance, professional fees and related costs of $32.8 million ($26.7 million net of tax) and discrete tax items of $0.1 million, resulting in a net negative impact of $26.8 million, or $0.59 per diluted share. For the year ended December 31, 2024, net income and diluted earnings per share includes the net negative impact of non-cash stock-based compensation, restructuring, impairment, gain on investment, and severance, professional fees, and related costs of $11.2 million ($8.5 million net of tax) and discrete tax items of $2.3 million, resulting in a net negative impact of $10.8 million, or $0.23 per diluted share.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $127.8M | $141.9M | $151.9M | $149.7M | $119.9M | $111.2M | $117.3M | $161.6M | $207.9M | $227.0M |
| Cost of revenue | $19.6M | $20.2M | $19.8M | $17.6M | $15.1M | $14.3M | $13.5M | $18.3M | $30.0M | $32.1M |
| Gross profit | $108.2M | $121.7M | $132.1M | $132.1M | $104.8M | $96.9M | $103.7M | $143.2M | $178.0M | $194.8M |
| R&D | $12.8M | $18.9M | $17.8M | $17.7M | $16.0M | $14.9M | $14.7M | $20.2M | $25.0M | $25.7M |
| SG&A | $27.1M | $30.0M | $31.3M | $34.0M | $28.6M | $26.6M | $25.8M | $37.6M | $40.7M | $43.7M |
| Total operating expenses | $139.2M | $135.6M | $145.6M | $146.2M | $121.7M | $143.6M | $106.6M | $153.2M | $195.1M | $223.6M |
| Operating income | -$11.4M | $6.3M | $6.3M | $5.6M | -$1.8M | -$32.4M | $10.1M | $11.7M | $22.9M | $3.4M |
| Interest expense | $2.5M | $3.2M | $3.5M | $1.6M | $667.0K | $831.0K | $703.0K | $2.1M | $3.4M | $3.5M |
| Pre-tax income | -$14.7M | $3.0M | $3.6M | $3.6M | -$1.0M | -$35.2M | $9.4M | $9.6M | $19.4M | -$119.0K |
| Income tax | $1.2M | $2.7M | $131.0K | $579.0K | $629.0K | $2.8M | $2.8M | $2.4M | $3.4M | $5.3M |
| Net income | -$13.5M | $253.0K | $3.5M | $4.2M | -$29.7M | -$30.0M | $12.6M | $7.2M | $16.0M | -$5.4M |
| EPS, basic | -0.30 | 0.01 | 0.08 | 0.09 | -0.64 | -0.62 | 0.26 | 0.15 | 0.33 | -0.11 |
| EPS, diluted | -0.30 | 0.01 | 0.08 | 0.09 | -0.64 | -0.62 | 0.24 | 0.14 | 0.33 | -0.11 |
| Shares, diluted (wtd. avg.) | $44.8M | $45.1M | $44.5M | $46.5M | $46.3M | $48.3M | $51.6M | $49.6M | $48.2M | $48.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $2.9M | $3.7M | $4.2M | $3.0M | $1.5M | $7.6M | $5.4M | $6.5M | $12.1M | $23.0M |
| Receivables | $18.0M | $22.1M | $22.2M | $20.5M | $18.4M | $16.1M | $21.2M | $22.9M | — | — |
| Total current assets | $24.5M | $29.7M | $30.9M | $27.8M | $24.5M | $33.5M | $33.1M | $38.9M | — | — |
| Property, plant and equipment | $13.3M | $20.4M | $25.3M | $21.3M | $20.6M | $23.0M | $20.4M | $15.9M | — | — |
| Goodwill | $120.6M | $128.1M | $128.1M | $128.1M | $128.1M | $128.1M | $150.7M | $154.0M | $170.8M | — |
| Other intangibles | $15.5M | $23.8M | $23.8M | $23.8M | $23.8M | $23.8M | $39.0M | $39.0M | — | — |
| Total assets | $188.2M | $221.4M | $225.2M | $226.7M | $221.6M | $241.0M | $278.3M | $258.4M | $295.7M | — |
| Accounts payable | $13.6M | $16.2M | $17.4M | $23.8M | $15.9M | $15.3M | $18.9M | $25.0M | — | — |
| Total current liabilities | $55.1M | $62.7M | $68.9M | $74.1M | $63.5M | $65.4M | $74.1M | $80.9M | — | — |
| Long-term debt | $30.0M | $32.0M | $38.0M | $30.0M | $22.7M | $19.6M | $9.4M | $17.3M | — | — |
| Total liabilities | $93.7M | $107.0M | $117.7M | $120.5M | $105.2M | $113.4M | $117.1M | $113.0M | — | — |
| Retained earnings | $19.0M | $32.5M | $32.2M | $28.4M | $24.2M | $54.0M | $84.0M | $71.4M | — | — |
| Total equity | $94.5M | $114.3M | $107.5M | $106.2M | $116.4M | $127.6M | $161.2M | $145.4M | $132.6M | $103.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $21.1M | $21.0M | $21.3M | $36.0M | $28.6M | $18.7M | $22.9M | $14.9M | $34.4M | $45.0M |
| Depreciation and amortisation | $14.2M | $18.0M | $16.9M | $17.5M | $17.1M | $12.0M | $9.7M | $9.3M | $9.8M | $9.8M |
| Stock-based compensation | $4.9M | $8.1M | $9.9M | $9.5M | $8.3M | $6.3M | $5.7M | $6.6M | $8.6M | $11.1M |
| Capital expenditure | $7.3M | $13.9M | $20.3M | $18.0M | $14.3M | $16.1M | $14.2M | $10.1M | $13.2M | $11.7M |
| Investing cash flow | -$8.7M | -$13.9M | -$15.3M | -$17.7M | -$19.3M | -$15.9M | -$11.5M | $7.5M | -$775.0K | -$10.8M |
| Financing cash flow | -$13.2M | -$7.6M | -$4.8M | -$16.9M | -$15.4M | -$542.0K | -$12.4M | -$27.2M | -$44.8M | -$44.6M |
| Buybacks | $9.7M | $0 | $6.9M | $18.5M | $15.4M | $8.3M | $2.5M | $2.0M | $0 | $29.6M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001393883-26-000041.
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