DHI Group Revenues Down 11% Year Over Year

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CENTENNIAL, Colo., Nov. 4, 2020 /PRNewswire/ — DHI Group, Inc. (NYSE:DHX) (“DHI” or the “Company”) today announced the following financial results for the third quarter ended September 30, 2020.

Third Quarter 2020 Financial Results

  • Total revenues were $33.3 million, down 2% sequentially and 11% year over year.
  • Dice revenues were $19.8 million, down 3% sequentially and 13% year over year.
  • ClearanceJobs revenues were $7.3 million, up 3% sequentially and 16% year over year.
  • eFinancialCareers revenues were $6.1 million, down 1% sequentially and down 23% year over year (25% excluding impact of foreign exchange).
  • Net loss was $27.3 million, which was negatively impacted by $29.3 million in non-cash impairment and other charges, net of tax. Net income in the year ago quarter was $4.4 million, which was positively impacted by $0.5 million from discrete tax items.
  • Earnings per diluted share was a loss of $0.57 per diluted share, compared to earnings of $0.08 per diluted share in the year ago quarter. Adjusted earnings per diluted share1 for the quarter was $0.04 vs. $0.07 last year.
  • Cash flow from operations was $4.4 million, compared to $4.6 million in the year-ago quarter.
  • Adjusted EBITDA1 was $7.6 million, an Adjusted EBITDA margin1 of 23%, compared to $8.7 million and 23% in the year-ago quarter.
  • Cash was $26.8 million and net debt1 was $10.2 million.

Commenting on the quarter, Art Zeile, President and CEO of DHI Group, Inc., said:

“Looking back at the quarter, July and August continued to be impacted by the difficult overall job market resulting from COVID-19; however, we did see sentiment change for the positive in September evidenced by a notable uptick in job postings, as well as an increase in our bookings. While COVID-19 is still certainly a concern for the overall job market, and things are changing weekly, the Staffing Industry Analysts (SIA), which focuses on tech-centric staffing and recruiting firms, is forecasting a bounce back in the IT staffing market in 2021 to almost pre-pandemic levels. The SIA is forecasting year-over-year market growth of 7%, which would get the market back to 98% of 2019 IT staffing revenue, representing an almost complete rebound. As we continue to execute on our plan to create the best online career marketplaces for matching companies with the highest quality tech professionals, we believe we can capitalize on these improving market dynamics.”

Product Highlights

Below are the key product highlights delivered during the third quarter:


  • Dice IntelliSearch Based Job Alerts are profile-based job alerts that are automatically generated based on a candidates’ specific skillset and location. This capability simplifies the candidate experience by automatically surfacing highly relevant job opportunities to candidates based on the information in their profile. This also encourages candidates to register and keep their profiles up to date. This new feature illustrates how DHI’s patent-pending tech skills data model has multiple high-impact use cases within its platform.
  • Dice Recruiter Profile, delivered last quarter, experienced the fastest adoption rate the Company has seen of all its product deliveries in the past two years. During the third quarter one-third of all Dice recruiters completed their new Dice recruiter profile. Dice Recruiter Profile allows clients to enrich their profiles with photos, personal information, details about corporate brand and culture, news and latest hires, upcoming events and future hiring needs — all of which create more transparency and personalize the recruiter behind the role. Dice Recruiter Profile was the first major release in Dice’s transformation from a job board to a full-scale career marketplace.


  • CJ Client Team Dashboard allows clients to have a full view of their recruitment team activity on the site, linking activities to successful hiring patterns. ClearanceJobs continues to be DHI’s testbed for key market leading features like this one of a kind patented technology.


  • eFC Follow, Voice and Video complete the foundation of eFC’s marketplace. The Follow feature allows candidates to follow recruiters and get a news feed of their content on a weekly basis. Voice and Video allow finance and tech professionals and recruiters to connect virtually with video and voice calling, as well as instant messaging all through the eFC platform, all of which are highly relevant in the work-from-home environment. These capabilities were delivered as DHI announced the completion of the fully functional eFC marketplace, a huge milestone for the Company. eFC follows CJ as the second brand to complete the transformation from job board to full-scale career marketplace.

Business Outlook

“Despite the impact these challenging times have had on our revenue, we maintain a strong balance sheet and cash position, and with the strategic investments we have continued to make to maximize our growth opportunities we believe we will emerge an even stronger company,” commented Kevin Bostick, CFO of DHI Group, Inc. “While we do not provide specific financial guidance, we continue to operate the business to Adjusted EBITDA margins1 in the 20% range as we execute on our long-term growth plan.”                                             

Conference Call Information

Art Zeile, President and Chief Executive Officer, and Kevin Bostick, Chief Financial Officer, will host a conference call today, November 4, 2020, at 5:00 p.m. Eastern Time to discuss the Company’s financial results, recent developments and progress on its tech-focused strategy.

The call can be accessed by dialing 844-890-1790 (in the U.S.) or +1-412-380-7407 (outside the U.S.). Please ask to be placed into the DHI Group, Inc. call. A live webcast of the call will simultaneously be available through the Investor Relations section of the Company’s website, https://www.dhigroupinc.com, and available for replay after the call ends. 

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