SEGMENT AND GEOGRAPHICAL INFORMATION

3 Months Ended

Mar. 31, 2026

SEGMENT AND GEOGRAPHICAL INFORMATION

SEGMENT AND GEOGRAPHICAL INFORMATION

NOTE 9—SEGMENT AND GEOGRAPHICAL INFORMATION

The Company operates as one reportable segment consisting primarily of fact-based sourcing advisory services. The Company operates principally in the Americas, Europe and Asia Pacific.

The Company’s Chief Operating Decision Maker (the “CODM”) is our Chairman & Chief Executive Officer, Michael Connors. The CODM uses net income as presented on our Consolidated Statement of Income and Comprehensive Income in evaluating performance and determining how to allocate resources of the Company as a whole.

Geographical revenue information for the segment is as follows:

	Three Months Ended
	March 31,
	2026		2025
Revenues
Americas	$	39,814	$	41,002
Europe		17,284		13,794
Asia Pacific		4,085		4,787
	$	61,183	$	59,583

The segregation of revenues by geographic region is based upon the location of the legal entity performing the services. The Company does not measure or monitor gross profit or operating income by geography or any other measure or metric, other than consolidated, for the purposes of making operating decisions or allocating resources.

The following table represents a breakdown of net income that is used to help determine how resources are allocated:

	Three Months Ended
	March 31,
	2026		2025
Revenue	$	61,183	$	59,583
Less:
Compensation expense		39,132		39,988
Contract labor		5,139		4,279
Third-party costs		594		519
Travel and entertainment		2,694		2,376
Professional fees		1,981		1,895
Computer expense		1,250		1,123
Restructuring costs		425		383
Other segment expenses (1)		3,905		4,519
Depreciation and amortization		1,046		1,105
Interest income		(32)		(55)
Interest expense		878		1,056
Foreign currency translation		(152)		(3)
Income tax provision		1,607		910
Net income	$	2,716	$	1,488

⁽¹⁾ Other segment expenses include communication, occupancy, marketing, stock-based compensation, acquisition and disposition and other overhead expenses.