DHI Group Inc ( (DHX) ) has released its Q3 earnings. Here is a breakdown of the information DHI Group Inc presented to its investors.
DHI Group, Inc. is a provider of AI-powered career marketplaces focused on technology roles, offering platforms such as Dice and ClearanceJobs to connect recruiters with highly skilled professionals. In the third quarter of 2024, DHI Group reported a total revenue of $35.3 million, representing a 6% decline year over year. While revenue from ClearanceJobs rose by 6% to $13.4 million, Dice experienced a 12% decrease, bringing in $21.9 million. The company also announced a net loss of $0.2 million, contrasting with a net income of $1.0 million in the same quarter the previous year.
Key financial metrics indicate a challenging quarter for DHI Group, with total bookings down 7% to $28.9 million. ClearanceJobs bookings increased by 4% to $12.6 million, while Dice bookings fell by 15% to $16.3 million. Adjusted EBITDA was reported at $8.6 million, marking an 8% decline year over year, and the Adjusted EBITDA Margin slightly decreased to 24% from 25%. Despite these challenges, the company reduced its total debt by $8.0 million compared to the previous year.
The company is anticipating a decline in fourth-quarter bookings and revenue, with expectations of an 8% to 10% drop in bookings year over year and a 7% to 8% decrease in revenue. The announcement of CFO Raime Leeby’s departure was also made, with Greg Schippers stepping in as Interim CFO. DHI Group continues to see growth in tech job postings, driven by increased demand for AI capabilities, which could signal a broader industry recovery.
DHI Group’s management remains cautiously optimistic, targeting an Adjusted EBITDA margin of 24% for the full year. As the company navigates through its current challenges, it continues to focus on leveraging its proprietary tech skills mapping to meet the growing demands for technology professionals.
