Today, DHI Group, Inc. announced its financial results for the third quarter ended September 30, 2025.
Third Quarter 2025 Financial Highlights Compared to the Third Quarter 2024(1)
- Total revenue was $32.1 million, down 9%.
- ClearanceJobs revenue was $13.9 million, up 1%.
- Dice revenue was $18.2 million, down 15%.
- Total bookings were $25.4 million, down 12%.
- ClearanceJobs bookings were $12.0 million, down 7%.
- Dice bookings were $13.4 million, down 17%.
- Net loss was $4.3 million, or $0.10 per diluted share, a net loss margin of 13%, compared to net loss of $0.2 million, or $0.00 per diluted share, a net loss margin of 1%. The net loss in the current year quarter was driven by the impairment of intangible assets of $9.6 million.
- Non-GAAP earnings per share was $0.09 per diluted share, compared to $0.05 per diluted share.
- Adjusted EBITDA increased 19% to $10.3 million, an Adjusted EBITDA Margin of 32% compared to $8.6 million, and a margin of 24%.
- ClearanceJobs Adjusted EBITDA was $5.9 million with a 43% Adjusted EBITDA Margin, compared to $6.3 million, and a margin of 46%.
- Dice Adjusted EBITDA was $6.2 million with a 34% Adjusted EBITDA Margin, compared to $4.0 million, and a margin of 19%.
- Cash flow from operations was $4.8 million, compared to $5.5 million while fixed asset purchases declined $1.6 million, or 51%, to generate free cash flow of $3.2 million, compared to $2.3 million.
- Cash was $2.3 million at quarter end compared to $2.1 million.
- Total debt at the end of the quarter was $30.0 million on our $100 million revolver, down from $32.0 million.
- Repurchased 804,000 shares for $2.3 million in the third quarter and 2.6 million shares for $6.2 million year to date under its stock repurchase program and from the vesting of share-based awards.
- Completed the $5 million repurchase program authorized in January and launched a new $5 million program approved by the board, effective this month through November 2026.
| (1) | See definition of bookings and see “Notes Regarding the Use of Non-GAAP Financial Measures” related to Adjusted EBITDA, Adjusted EBITDA Margin, Non-GAAP Earnings Per Share, and Free Cash Flow, later in this press release. |
Commenting on the results, Art Zeile, President and CEO of DHI Group, said:
“ClearanceJobs again demonstrated the strength of its market position, growing revenue year over year despite ongoing government uncertainty, while Dice significantly improved its profitability as we continued streamlining operations and began transitioning customers to our modern self-service platform. Together, our brands generated increased free cash flow, maintained healthy margins, and continued strengthening the foundation for long-term growth. With AI-driven demand reshaping the tech hiring landscape and defense spending poised to increase significantly as a result of the recently passed $1.1 trillion U.S. defense budget, DHI is well-positioned to capitalize on these secular growth trends and deliver sustained value to our customers and shareholders.”
Commenting on 2025 full-year guidance, Greg Schippers, CFO of DHI Group, commented:
“We remain confident in the long term growth prospects of our two tech-focused brands, and specifically ClearanceJobs in the near term, as a result of increased global defense spending and strong customer demand for cleared tech professionals. While we do not anticipate DHI total bookings growth to resume until the broader tech hiring environment stabilizes, we are reiterating our full-year revenue guidance of $126 to $128 million, with fourth-quarter revenue expected to be in the range of $29.5 to $31.5 million. As a result of our improved Dice margins, we are raising our full-year Adjusted EBITDA margin guidance to 27%, reflecting our cost management and operational efficiency.”
