$KFRC

KFORCE INC

CIK:0000930420|SEC Filings

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 349,331	$ 334,316	$ 679,695	$ 664,344
Direct costs	249,877	243,668	490,173	485,436
Gross profit	99,454	90,648	189,522	178,908
Selling, general and administrative expenses	79,406	74,370	156,164	149,535
Depreciation and amortization	1,296	1,390	2,600	2,854
Income from operations	18,752	14,888	30,758	26,519
Other expense, net	991	1,029	1,643	1,594
Income before income taxes	17,761	13,859	29,115	24,925
Income tax expense	5,438	3,410	8,867	6,331
Net income	$ 12,323	$ 10,449	$ 20,248	$ 18,594
Earnings per share – basic (in dollars per share)	$ 0.74	$ 0.59	$ 1.19	$ 1.04
Earnings per share - diluted (in dollars per share)	$ 0.73	$ 0.59	$ 1.19	$ 1.03
Weighted average shares outstanding – basic (in shares)	16,763	17,714	16,947	17,936
Weighted average shares outstanding – diluted (in shares)	16,978	17,759	17,081	17,994

UNAUDITED 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	$ 20,248	$ 18,594
Adjustments to reconcile net income to cash (used in) provided by operating activities:
Deferred income tax provision, net	(783)	(1,679)
Provision for credit losses	438	62
Depreciation and amortization	2,600	2,854
Stock-based compensation expense	7,308	7,274
Noncash lease expense	1,817	1,889
Other	430	(454)
(Increase) decrease in operating assets
Trade receivables, net	(30,835)	5,749
Other assets	(7,243)	(10,809)
Increase (decrease) in operating liabilities
Accrued payroll costs	7,969	1,019
Other liabilities	(8,677)	(5,885)
Cash (used in) provided by operating activities	(6,728)	18,614
Cash flows from investing activities:
Capital expenditures	(7,194)	(8,290)
Proceeds from Life Insurance Policy	0	1,383
Payment to Acquire Life Insurance Policy, Investing Activities	0	686
Cash used in investing activities	(7,194)	(7,593)
Cash flows from financing activities:
Proceeds from credit facility	282,200	323,500
Payments on credit facility	(241,500)	(286,200)
Repurchases of common stock	(15,068)	(32,243)
Cash dividends	(13,522)	(13,951)
Other	0	(4)
Cash provided by (used in) financing activities	12,110	(8,898)
Change in cash and cash equivalents	(1,812)	2,123
Cash and cash equivalents, beginning of period	2,142	349
Cash and cash equivalents, end of period	330	2,472
Supplemental Disclosure of Cash Flow Information
Income taxes, net	5,679	13,517
Operating lease liabilities	2,113	2,348
Interest, net	2,420	1,878
Non-Cash Investing and Financing Transactions:
ROU assets obtained from operating leases	274	3,432
Stock Issued During Period, Value, Employee Stock Purchase Plan	$ 0	$ 175

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 330	$ 2,142
Trade receivables, net of allowances of $1,062 and $1,248, respectively	220,857	190,461
Prepaid expenses and other current assets	10,118	9,669
Total current assets	231,305	202,272
Fixed assets, net	5,026	6,023
Other assets, net	145,003	129,267
Deferred tax assets, net	3,818	3,036
Goodwill	25,040	25,040
Total assets	410,192	365,638
Current liabilities:
Accounts payable and other accrued liabilities	62,863	67,609
Accrued payroll costs	50,297	42,328
Current portion of operating lease liabilities	3,477	3,342
Income taxes payable	3,126	451
Total current liabilities	119,763	113,730
Long-term debt – credit facility	107,100	66,400
Other long-term liabilities	59,701	60,905
Total liabilities	286,564	241,035
Commitments and contingencies (Note J)
Stockholders’ equity:
Preferred stock, $0.01 par value; 15,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.01 par value; 250,000 shares authorized, 74,335 and 74,244 issued, respectively	743	742
Additional paid-in capital	566,505	558,297
Retained earnings	558,001	552,180
Treasury stock, at cost; 56,424 and 55,891 shares, respectively	(1,001,621)	(986,616)
Total stockholders’ equity	123,628	124,603
Total liabilities and stockholders’ equity	$ 410,192	$ 365,638