$EFOR

ON ASSIGNMENT INC

CIK:0000890564|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 1,007.0	$ 1,020.6	$ 1,975.3	$ 1,988.9
Costs of services	722.4	727.3	1,424.1	1,420.2
Gross profit	284.6	293.3	551.2	568.7
Selling, general, and administrative expenses	226.2	216.8	450.6	431.3
Amortization of intangible assets	17.3	16.9	31.8	31.2
Operating income	41.1	59.6	68.8	106.2
Interest expense, net	(20.4)	(18.2)	(37.5)	(33.6)
Income before income taxes	20.7	41.4	31.3	72.6
Provision for income taxes	6.5	12.1	11.6	22.4
Net income	$ 14.2	$ 29.3	$ 19.7	$ 50.2
Basic
Basis (in dollars per share)	$ 0.35	$ 0.67	$ 0.48	$ 1.15
Diluted
Diluted (in dollars per share)	$ 0.35	$ 0.67	$ 0.48	$ 1.14
Shares and share equivalents used to calculate earnings per share:
Basic (in shares)	41.0	43.8	41.2	43.8
Diluted (in shares)	41.0	44.0	41.2	44.0
Reconciliation of net income to comprehensive income:
Net income	$ 14.2	$ 29.3	$ 19.7	$ 50.2
Foreign currency translation adjustment	(0.8)	2.6	(1.5)	3.4
Comprehensive income	$ 13.4	$ 31.9	$ 18.2	$ 53.6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities
Net income	$ 19,700	$ 50,200
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization and depreciation	59,200	54,300
Stock-based compensation	29,700	25,700
Other	3,800	7,300
Changes in operating assets and liabilities:
Accounts receivable	(72,300)	(18,000)
Prepaid expenses and income taxes	(300)	(4,600)
Accounts payable	18,900	4,600
Accrued payroll	14,300	23,700
Other	(4,400)	(13,200)
Net cash provided by operating activities	70,700	141,700
Income taxes payable	2,100	11,700
Cash Flows from Investing Activities
Cash paid for property and equipment	(15,300)	(19,300)
Cash paid for acquisitions, net of cash acquired	(283,600)	(306,100)
Net cash used in investing activities	(298,900)	(325,400)
Cash Flows from Financing Activities
Proceeds from employee stock purchase plan	6,900	8,700
Repurchase of common stock	(50,500)	(59,900)
Payment of employment taxes related to release of restricted stock awards	(3,800)	(7,000)
Net cash provided by financing activities	220,300	116,300
Repayments of Debt	(100,800)	(87,500)
Proceeds from Issuance of Debt	370,000	265,000
Other	(1,500)	(3,000)
Effect of exchange rate changes on cash and cash equivalents	(400)	1,100
Net Decrease in Cash and Cash Equivalents	(8,300)	(66,300)
Cash and Cash Equivalents at Beginning of Year	161,200	205,200
Cash and Cash Equivalents at End of Period	152,900	138,900
Supplemental Disclosure of Cash Flow Information
Income taxes, net of refunds received	0	5,000
Interest	36,400	33,500
Operating leases	12,700	12,400
Noncash transactions —
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	$ 7,200	$ 12,400

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 152.9	$ 161.2
Accounts receivable, net	766.3	674.4
Other current assets	68.4	80.6
Total current assets	987.6	916.2
Property and equipment, net	79.0	84.5
Identifiable intangible assets, net	595.6	453.8
Goodwill	2,280.4	2,143.2
Other non-current assets	80.9	79.6
Total assets	4,023.5	3,677.3
Current liabilities:
Accrued payroll	251.1	231.4
Other current liabilities	143.8	145.7
Total current liabilities	464.4	424.3
Accounts payable	69.5	47.2
Long-term debt	1,438.1	1,169.4
Deferred income tax liabilities	275.1	237.3
Other long-term liabilities	40.8	42.3
Total liabilities	2,218.4	1,873.3
Commitments and contingencies (Note 6)
Stockholders’ equity:
Preferred stock	0.0	0.0
Common stock	0.4	0.4
Paid-in capital	725.6	713.5
Retained earnings	1,082.2	1,091.7
Accumulated other comprehensive loss	(3.1)	(1.6)
Total stockholders’ equity	1,805.1	1,804.0
Total liabilities and stockholders’ equity	$ 4,023.5	$ 3,677.3