Heidrick & Struggles International
Heidrick & Struggles International — Q1 2025 Earnings Presentation
20 slides from Heidrick & Struggles International's earnings presentation, May 5, 2025
Slide 1: First Quarter 2025 Results
First Quarter 2025 Results May 5, 2025
Slide 2: Cautionary Statement Regarding Forward-Looking Information
Cautionary Statement Regarding Forward-Looking Information This press release contains forward-looking statements within the meaning of the federal securities laws, including statements regarding guidance for the second quarter of 2025. The forward-looking statements are based on current expectation
Slide 3: Non-GAAP Financial Measures & Currency Presentation
Non-GAAP Financial Measures & Currency Presentation NON-GAAP FINANCIAL MEASURES To supplement the financial results presented in accordance with generally accepted accounting principles in the United States (“GAAP”), Heidrick & Struggles presents certain non-GAAP financial measures. A “non-GAAP fina
Slide 4: Overview
Overview
Slide 5: Investment Highlights
Investment Highlights Immense opportunity to create value for clients, colleagues and investors by discovering, assessing and enabling exceptional leaders PREEMINENT LEADERSHIP CONSULTANCY EXPANSION OF CAPABILITIES & EXPERTISE • World class brand with top of the house relationships • Expanding in ar
Slide 6: Growing our impact and scale in the era of who and how
Growing our impact and scale in the era of who and how C R E AT I N G U N R I VA L E D VA LU E F O R CLIENTS D I F F E R E N T I AT E D DEEP DURABLE Secure C-Suite & Embed in Client Create Continuous Focus on growing Board Primacy Transformations Engagement differentiated, deep, and durable client r
Slide 7: Multiple Drivers of Growth & Profit
Multiple Drivers of Growth & Profit Heidrick & Struggles is the only global leadership advisory firm to focus exclusively on the full spectrum of executive and high-end talent HEIDRICK SEARCH solutions. Targeting ‘through cycle’ consolidated organic revenue growth of 4-6% and organic HEIDRICK HEIDRI
Slide 8: Financial Highlights
Financial Highlights Heidrick & Struggles continues to deliver strong financial performance REVENUE ADJUSTED EBITDA* NET INCOME EARNINGS PER SHARE • Quarterly net revenue of $283.6 • Adjusted EBITDA* of $29.1 million • Net income of $13.3 million for the first • Diluted earnings per share of $0.62 m
Slide 9: Creating a Portfolio of Solutions
Creating a Portfolio of Solutions that Addresses Urgent Client Need and Amplifies Search Impact EXECUTIVE SEARCH ON–DEMAND TALENT HEIDRICK CONSULTING • 5.9% year over year revenue growth • 12.4% year over year revenue growth • 6.8% year over year revenue growth for the for the first quarter; on a co
Slide 10: Consolidated Results
Consolidated Results
Slide 11: Consolidated Financial Highlights
Consolidated Financial Highlights QUARTERLY NET REVENUE AND ADJUSTED EBITDA* TRENDS $283.6M CONSOLIDATED NET REVENUE ADJUSTED EBITDA* $29.1M $160.1M Pandemic $16.6M Q1 2018 Q1 2019 Q1 2020 Q1 2021 Q1 2022 Q1 2023 Q1 2024 Q1 2025 Q1 2018 Q1 2019 Q1 2020 Q1 2021 Q1 2022 Q1 2023 Q1 2024 Q1 2025 Executi
Slide 12: Consolidated Financial Highlights
Consolidated Financial Highlights QUARTERLY ADJUSTED EBITDA MARGIN* AND ADJUSTED DILUTED EPS* TREN DS ADJUSTED EBITDA MARGIN* ADJUSTED DILUTED EPS* $0.67 10.3% 10.4% $0.53 Q1 2018 Q1 2019 Q1 2020 Q1 2021 Q1 2022 Q1 2023 Q1 2024 Q1 2025 Q1 2018 Q1 2019 Q1 2020 Q1 2021 Q1 2022 Q1 2023 Q1 2024 Q1 2025
Slide 13: Segment Financial Highlights
Segment Financial Highlights QUARTERLY NET REVENUE EXECUTIVE SEARCH ON-DEMAND TALENT $42.6M $213.4M Atreus Acquired $145.8M Pandemic $23.4M Q1 2018 Q1 2019 Q1 2020 Q1 2021 Q1 2022 Q1 2023 Q1 2024 Q1 2025 Q1 Q1 Q1 Q1 2022 2023 2024 2025 Americas Europe Asia Pacific 5.6% CAGR since Q1 2018 12% year ov
Slide 14: Segment Financial Highlights
Segment Financial Highlights QUARTERLY NET REVENUE HEIDRICK CONSULTING $27.6M B4Z Acquired $14.2M Q1 2018 Q1 2019 Q1 2020 Q1 2021 Q1 2022 Q1 2023 Q1 2024 Q1 2025 9.9% CAGR since Q1 2018 * Non-GAAP Financial Measure
Slide 15: Executive Search Operational Highlights
Executive Search Operational Highlights CONSULTANT HEADCOUNT SEARCH CONFIRMATIONS CONSULTANT PRODUCTIVITY ($M) 424 427 1,561 $2.0 1,482 $1.9 Q1 2024 Q1 2025 Q1 2024 Q1 2025 TTM Q1 2024 TTM Q1 2025 1% year-over-year consultant 5% year-over-year increase in Trailing twelve-month productivity headcount
Slide 16: Balance Sheet & Liquidity
Balance Sheet & Liquidity
Slide 17: Strong & Flexible Balance Sheet
Strong & Flexible Balance Sheet CASH & MARKETABLE SECURITIES, NET OF DEBT CASH USED IN OPERATING ACTIVITIES ($M) March 31, 2025 March 31, 2024 $621.6 For the quarter ending: $232.2 $203.4 $563.5 $545.2 $478.2 USE OF CASH PRIORITIZATION $456.0 $409.4 $422.0 $317.8 $348.3 $336.6 $334.0 $383.1 $324.7 $
Slide 18: Appendix
Appendix Reconciliation of GAAP to Non-GAAP Financial Measures
Slide 19: Adjusted Net Income & Earnings Per Share
2025 1 S T QUARTER AND YEAR -TO- D AT E Adjusted Net Income & Earnings Per Share We define Adjusted Net Income as net income excluding impairment charges, restructuring charges and earnout fair value adjustments, net of tax.
Slide 20: Vance Edelson
Vance Edelson Vance.Edelson@icrinc.com
Heidrick & Struggles International — Q1 2025 Earnings Presentation on 6ix