$EXPO

EXPONENT INC

CIK:0000851520|SEC Filings

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2026	Jul. 04, 2025	Jul. 03, 2026	Jul. 04, 2025
Revenues:
Revenues before reimbursements	$ 148,860	$ 132,868	$ 300,677	$ 270,305
Reimbursements	22,752	9,094	37,238	17,164
Revenues	171,612	141,962	337,915	287,469
Operating expenses:
Compensation and related expenses	100,571	97,474	191,980	173,377
Other operating expenses	12,865	12,072	25,690	24,167
Reimbursable expenses	22,752	9,094	37,238	17,164
General and administrative expenses	7,402	6,145	13,606	11,152
Total operating expenses	143,590	124,785	268,514	225,860
Operating income	28,022	17,177	69,401	61,609
Other income, net:
Interest income, net	716	2,344	2,434	5,058
Miscellaneous income, net	12,028	17,294	11,270	7,908
Total other income, net	12,744	19,638	13,704	12,966
Income before income taxes	40,766	36,815	83,105	74,575
Income taxes	11,371	10,262	24,141	21,372
Net income	$ 29,395	$ 26,553	$ 58,964	$ 53,203
Net income per share:
Basic (in dollars per share)	$ 0.6	$ 0.52	$ 1.2	$ 1.04
Diluted (in dollars per share)	$ 0.6	$ 0.52	$ 1.19	$ 1.03
Shares used in per share computations:
Basic (in shares)	48,753	51,185	49,271	51,234
Diluted (in shares)	48,987	51,502	49,571	51,587
Cash dividends declared per common share (in dollars per share)	$ 0.31	$ 0.3	$ 0.62	$ 0.6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jul. 03, 2026	Jul. 04, 2025
Cash flows from operating activities:
Net income	$ 58,964	$ 53,203
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property, equipment and leasehold improvements	5,193	5,012
Provision for contract losses and doubtful accounts	2,076	586
Stock-based compensation	15,738	13,426
Deferred income tax provision	2,225	(3,094)
Changes in operating assets and liabilities:
Accounts receivable	(39,073)	(10,191)
Prepaid expenses and other current assets	9,428	7,135
Change in operating leases	2,309	1,756
Accounts payable and accrued liabilities	(4,930)	4,153
Accrued payroll and employee benefits	(25,101)	(23,774)
Deferred revenues	3,085	(4,716)
Net cash provided by operating activities	29,914	43,496
Cash flows from investing activities:
Capital expenditures	(4,228)	(4,028)
Net cash used in investing activities	(4,228)	(4,028)
Cash flows from financing activities:
Payroll taxes for restricted stock units	(5,135)	(4,166)
Repurchase of common stock	(146,138)	(32,680)
Exercise of stock-based payment awards	1,780	911
Dividends and dividend equivalents rights	(31,340)	(31,582)
Net cash used in financing activities	(180,833)	(67,517)
Effect of foreign currency exchange rates on cash and cash equivalents	(154)	949
Net change in cash and cash equivalents	(155,301)	(27,100)
Cash and cash equivalents at beginning of period	221,930	258,901
Cash and cash equivalents at end of period	$ 66,629	$ 231,801

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 03, 2026	Jan. 02, 2026
Current assets:
Cash and cash equivalents	$ 66,629	$ 221,930
Accounts receivable, net of allowance for contract losses and doubtful accounts of $7,486 and $7,478 at July 3, 2026 and January 2, 2026, respectively	218,504	181,507
Prepaid expenses and other current assets	26,881	24,143
Total current assets	312,014	427,580
Property, equipment and leasehold improvements, net of accumulated depreciation and amortization of $127,108 and $122,072 at July 3, 2026 and January 2, 2026, respectively	70,854	71,981
Operating lease right-of-use assets	68,954	73,376
Goodwill	8,607	8,607
Deferred income taxes	64,850	67,075
Deferred compensation plan assets	122,823	123,454
Other assets	4,621	5,446
Total assets	652,723	777,519
Current liabilities:
Accounts payable and accrued liabilities	26,942	30,942
Accrued payroll and employee benefits	102,186	121,302
Deferred revenues	21,953	18,868
Operating lease liabilities	6,757	6,890
Total current liabilities	157,838	178,002
Other liabilities	4,466	4,587
Deferred compensation plan liabilities	127,839	128,645
Operating lease liabilities	73,964	75,944
Total liabilities	364,107	387,178
Stockholders’ equity:
Common stock, $0.001 par value; 120,000 shares authorized; 65,707 shares issued at July 3, 2026 and January 2, 2026	66	66
Additional paid-in capital	389,568	369,747
Accumulated other comprehensive loss
Foreign currency translation adjustments	(2,378)	(2,290)
Retained earnings	696,405	668,423
Treasury stock, at cost; 18,176 and 16,087 shares held at July 3, 2026 and January 2, 2026, respectively	(795,045)	(645,605)
Total stockholders’ equity	288,616	390,341
Total liabilities and stockholders’ equity	$ 652,723	$ 777,519