EX-99.1 2 rhiq22025ex991.htm EX-99.1 Document

Exhibit 99.1
FOR IMMEDIATE RELEASE
 
Contact: 
 M. Keith Waddell
President and Chief Executive Officer
(650) 234-6000

ROBERT HALF REPORTS SECOND-QUARTER FINANCIAL RESULTS
MENLO PARK, Calif., July 23, 2025 — Robert Half Inc. (NYSE symbol: RHI) today reported revenues and earnings for the second quarter ended June 30, 2025.
For the three months ended June 30, 2025, net income was $41 million, or $0.41 per share, on revenues of $1.370 billion. For the three months ended June 30, 2024, net income was $68 million, or $0.66 per share, on revenues of $1.473 billion.
For the six months ended June 30, 2025, net income was $58 million, or $0.58 per share, on revenues of $2.722 billion. For the six months ended June 30, 2024, net income was $132 million, or $1.27 per share, on revenues of $2.948 billion.
“For the second quarter of 2025, global enterprise revenues were $1.370 billion, down 7 percent from last year’s second quarter both on a reported basis and on an adjusted basis. Elevated global economic uncertainty persisted throughout the quarter, extending client and job seeker caution, elongating decision cycles, and subduing hiring activity and new project starts. Revenue levels fell modestly during the first two months of the quarter, then stabilized at lower levels in June, which continued post-quarter into July,” said M. Keith Waddell, president and chief executive officer at Robert Half. “We are very well-positioned to capitalize on emerging opportunities and support our clients’ future talent and consulting needs through the strength of our industry-leading brand, our people, our technology, and our unique business model that includes both professional staffing and business consulting services.
“We’d like to thank our employees, who are our greatest asset and what differentiates us in the marketplace, for the significant company recognition we received in the second quarter. We are proud to have ranked number one on Forbes’ list of America’s Best Professional Recruiting Firms. We were also recognized by Forbes as one of America’s Best Temporary Staffing Firms and one of America’s Best Executive Recruiting Firms,” Waddell concluded.
Robert Half management will conduct a conference call today at 5 p.m. EDT. The prepared remarks for this call are available now in the Investor Center of the Robert Half website (www.roberthalf.com/investor-center). Simply click on the Quarterly Conference Calls link. The dial-in number is 888-394-8218 (+1-323-994-2093 outside the United States and Canada). The confirmation code to access the call is 1562597.
A recording of this call will be available for audio replay beginning at approximately 8 p.m. EDT on July 23 and ending after 12 months. To access the replay, visit https://webcasts.com/RobertHalfQ22025. The conference call also will be archived in audio format on the Company’s website at roberthalf.com.
Robert Half is the world’s first and largest specialized talent solutions and business consulting firm, connecting highly skilled job seekers with rewarding opportunities at great companies. We offer contract talent and permanent placement solutions in the fields of finance and accounting, technology, marketing and creative, legal, and administrative and customer support, and we also provide executive search services. Robert Half is the parent company of Protiviti®, a global consulting firm that delivers internal audit, risk, business and technology consulting solutions. In the past 12 months, Robert Half, including Protiviti, has been named one of the Fortune® World’s Most Admired Companies™ and 100 Best Companies to Work For.
Certain information contained in this press release and its attachments may be deemed forward-looking statements regarding events and financial trends that may affect the future operating results or financial positions of Robert Half Inc. (the “Company”). Forward-looking statements are not guarantees or promises that goals or targets will be met. These statements may be identified by words such as “anticipate,” “potential,” “estimate,” “forecast,” “target,” “project,” “plan,” “intend,” “believe,” “expect,” “should,” “could,” “would,” “may,” “might,” “will,” or variations or negatives thereof or by similar or comparable words or phrases. In addition, historical, current and forward-looking information about the Company’s corporate responsibility and compliance programs, including targets or goals, may not be considered material for the Securities and Exchange Commission (“SEC”) or other mandatory reporting purposes and may be based on standards for measuring progress that are still developing; on internal controls, diligence or processes that are evolving; on representations reviewed or provided by third parties; and on assumptions that are subject to change in the future. Forward-looking statements are estimates only and are based on management’s current expectations, currently available information and current strategy, plans or forecasts, and


involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict, often beyond our control and are inherently uncertain. Forward-looking statements are subject to risks and uncertainties that could cause actual results and outcomes, or the timing of these results or outcomes, to differ materially from those expressed or implied in the statements.
These risks and uncertainties include, but are not limited to, the following: changes to or new interpretations of United States of America (“U.S.”) or international tax regulations; the global financial and economic situation; changes in levels of unemployment and other economic conditions in the U.S. or foreign countries where the Company does business, or in particular regions or industries; reduction in the supply of candidates for contract employment or the Company’s ability to attract candidates; the development, proliferation and adoption of artificial intelligence (“AI”) by the Company and the third parties it serves; the entry of new competitors into the marketplace or expansion by existing competitors; the ability of the Company to maintain existing client relationships and attract new clients in the context of changing economic or competitive conditions; the impact of competitive pressures, including any change in the demand for the Company’s services, or the Company’s ability to maintain its margins; the possibility of the Company incurring liability for its activities, including the activities of its engagement professionals, or for events impacting its engagement professionals on clients’ premises; the possibility that adverse publicity could impact the Company’s ability to attract and retain clients and candidates; the success of the Company in attracting, training and retaining qualified management personnel and other staff employees; the Company’s ability to comply with governmental regulations affecting personnel services businesses in particular or employer/employee relationships in general; whether there will be ongoing demand for Sarbanes-Oxley or other regulatory compliance services; the Company’s reliance on short-term contracts for a significant percentage of its business; litigation relating to prior or current transactions or activities, including litigation that may be disclosed from time to time in the Company’s SEC filings; the impact of extreme weather conditions on the Company and its candidates and clients; the ability of the Company to manage its international operations and comply with foreign laws and regulations; the impact of fluctuations in foreign currency exchange rates; the possibility that the additional costs the Company will incur as a result of health care or other reform legislation may adversely affect the Company’s profit margins or the demand for the Company’s services; the possibility that the Company’s computer and communications hardware and software systems could be damaged or their service interrupted or that the Company could experience a cybersecurity breach; and the possibility that the Company may fail to maintain adequate financial and management controls, and as a result suffer errors in its financial reporting.
Additionally, with respect to Protiviti, other risks and uncertainties include the fact that future success will depend on its ability to retain employees and attract clients; there can be no assurance that there will be ongoing demand for broad-based consulting, regulatory compliance, technology services, public sector or other high-demand advisory services; failure to produce projected revenues could adversely affect financial results; and there is the possibility of involvement in litigation relating to prior or current transactions or activities.
A summary of additional risks and uncertainties can be found in the Annual Report on Form 10-K for the year ended December 31, 2024, and in the Company’s other filings with the U.S. Securities and Exchange Commission.
Because long-term contracts are not a significant part of the Company’s business, future results cannot be reliably predicted by considering past trends or extrapolating past results. Except as required by law, the Company undertakes no obligation to update information in this report, whether as a result of new information, future events, or otherwise, and notwithstanding any historical practice of doing so.
A copy of this release is available at www.roberthalf.com/investor-center.
 
ATTACHED: 
 
Summary of Operations
 
Supplemental Financial Information
 
Non-GAAP Financial Measures









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ROBERT HALF INC.
SUMMARY OF OPERATIONS
(in thousands, except per share amounts)
 
 Three Months Ended
June 30,		Six Months Ended
June 30,
 2025202420252024
 (Unaudited)(Unaudited)
Service revenues$1,369,743 $1,472,524 $2,721,650 $2,948,461 
Costs of services860,269 895,845 1,713,131 1,808,985 
Gross margin509,474576,6791,008,5191,139,476
Selling, general and administrative expenses507,934501,136968,0971,023,035
Operating income1,54075,54340,422116,441
Income from investments held in employee deferred compensation trusts (which is completely offset by related costs and expenses)(57,654)(15,733)(37,483)(59,109)
Interest income, net(2,239)(5,186)(5,811)(11,599)
Income before income taxes61,433 96,462 83,716 187,149 
Provision for income taxes20,465 28,306 25,398 55,292 
Net income$40,968 $68,156 $58,318 $131,857 
Diluted net income per share$0.41 $0.66 $0.58 $1.27 
 
Weighted average shares:
Basic100,410 103,151 100,537 103,469 
Diluted100,539 103,328 100,776 103,864 





















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ROBERT HALF INC.
SUPPLEMENTAL FINANCIAL INFORMATION
(in thousands)

Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
(Unaudited)(Unaudited)
SERVICE REVENUES INFORMATION
Contract talent solutions
Finance and accounting$555,626 $623,120 $1,118,559 $1,265,090 
Administrative and customer support165,591 190,344 331,218 390,276 
Technology158,403 157,899 310,945 315,869 
Elimination of intersegment revenues (1)(119,812)(116,466)(237,709)(229,280)
Total contract talent solutions759,808 854,897 1,523,013 1,741,955 
Permanent placement talent solutions114,713 131,063 226,804 255,830 
Protiviti495,222 486,564 971,833 950,676 
Total service revenues$1,369,743 $1,472,524 $2,721,650 $2,948,461 
(1) Service revenues for finance and accounting, administrative and customer support, and technology include intersegment revenues, which represent revenues from services provided to the Company’s Protiviti segment in connection with the Company’s blended business solutions. Intersegment revenues for each functional specialization are aggregated and then eliminated as a single line.

 June 30,
 20252024
 (Unaudited)
SELECTED BALANCE SHEET INFORMATION:
Cash and cash equivalents$380,547 $547,370 
Accounts receivable, net$826,872 $893,467 
Total assets$2,832,196 $2,937,749 
Total current liabilities$1,322,626 $1,263,264 
Total stockholders’ equity$1,311,918 $1,480,155 
 Six Months Ended June 30,
 20252024
(Unaudited)
SELECTED CASH FLOW INFORMATION:
Depreciation$25,608 $25,520 
Capitalized cloud computing implementation costs $13,217 $15,557 
Capital expenditures$27,573 $24,174 
Open market repurchases of common stock (shares)1,1281,660 
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ROBERT HALF INC.
NON-GAAP FINANCIAL MEASURES
The financial results of Robert Half Inc. (the “Company”) are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and the rules of the SEC. To help readers understand the Company’s financial performance, the Company supplements its GAAP financial results with the following non-GAAP measures: adjusted gross margin; adjusted selling, general and administrative expenses; adjusted operating income; and adjusted revenue growth rates.
The following measures: adjusted gross margin, adjusted selling, general and administrative expenses and adjusted operating income, include gains and losses on investments held to fund the Company’s obligations under employee deferred compensation plans. The Company provides these measures because they are used by management to review its operational results.
Adjusted revenue growth rates represent year-over-year revenue growth rates after removing the impacts on reported revenues from the changes in the number of billing days and foreign currency exchange rates. The Company provides this data because it focuses on the Company’s revenue growth rates attributable to operating activities and aids in evaluating revenue trends over time. The impacts from the changes in billing days and foreign currency exchange rates are calculated as follows:
•Billing days impact is calculated by dividing each comparative period’s reported revenues by the number of billing days for that period to arrive at a per billing day amount. Same billing day growth rates are then calculated based on the per billing day amounts. Management calculates a global, weighted-average number of billing days for each reporting period based upon inputs from all countries and all functional specializations and segments.
•Foreign currency impact is calculated by retranslating current period international revenues, using foreign currency exchange rates from the prior year’s comparable period.
The non-GAAP financial measures provided herein may not provide information that is directly comparable to that provided by other companies in the Company’s industry, as other companies may calculate such financial results differently. The Company’s non-GAAP financial measures are not measurements of financial performance under GAAP and should not be considered as alternatives to amounts presented in accordance with GAAP. The Company does not consider these non-GAAP financial measures to be a substitute for, or superior to, the information provided by GAAP financial results. A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures is provided on the following pages.






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ROBERT HALF INC.
NON-GAAP FINANCIAL MEASURES
ADJUSTED GROSS MARGIN (UNAUDITED):
(in thousands)
Three Months Ended June 30,RelationshipsSix Months Ended June 30,Relationships
As ReportedAs AdjustedAs ReportedAs AdjustedAs ReportedAs AdjustedAs ReportedAs Adjusted
2025202420252024202520242025202420252024202520242025202420252024
Gross Margin
Contract talent solutions
$297,367 $336,161 $297,367 $336,161 39.1 %39.3 %39.1 %39.3 %$594,300 $686,731 $594,300 $686,731 39.0 %39.4 %39.0 %39.4 %
Permanent placement talent solutions
114,551 130,801 114,551 130,801 99.9 %99.8 %99.9 %99.8 %226,412 255,349 226,412 255,349 99.8 %99.8 %99.8 %99.8 %
Total talent solutions411,918 466,962 411,918 466,962 47.1 %47.4 %47.1 %47.4 %820,712 942,080 820,712 942,080 46.9 %47.2 %46.9 %47.2 %
Protiviti
97,556 109,717 110,357 112,947 19.7 %22.5 %22.3 %23.2 %187,807 197,396 196,569 208,983 19.3 %20.8 %20.2 %22.0 %
Total$509,474 $576,679 $522,275 $579,909 37.2 %39.2 %38.1 %39.4 %$1,008,519 $1,139,476 $1,017,281 $1,151,063 37.1 %38.6 %37.4 %39.0 %
The following tables provide reconciliations of the non-GAAP adjusted gross margin to reported gross margin for the three months ended June 30, 2025 and 2024:
Three Months Ended June 30, 2025Three Months Ended June 30, 2024
Contract talent
solutions		Permanent placement talent solutionsTotal talent solutionsProtivitiTotalContract talent
solutions		Permanent placement talent solutionsTotal talent solutionsProtivitiTotal
$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue
Gross Margin
As Reported$297,367 39.1 %$114,551 99.9 %$411,918 47.1 %$97,556 19.7 %$509,474 37.2 %$336,161 39.3 %$130,801 99.8 %$466,962 47.4 %$109,717 22.5 %$576,679 39.2 %
Adjustments (1)— — — — — — 12,801 2.6 %12,801 0.9 %— — — — — — 3,230 0.7 %3,230 0.2 %
As Adjusted$297,367 39.1 %$114,551 99.9 %$411,918 47.1 %$110,357 22.3 %$522,275 38.1 %$336,161 39.3 %$130,801 99.8 %$466,962 47.4 %$112,947 23.2 %$579,909 39.4 %
The following tables provide reconciliations of the non-GAAP adjusted gross margin to reported gross margin for the six months ended June 30, 2025 and 2024:
Six Months Ended June 30, 2025Six Months Ended June 30, 2024
Contract talent
solutions		Permanent placement talent solutionsTotal talent solutionsProtivitiTotalContract talent
solutions		Permanent placement talent solutionsTotal talent solutionsProtivitiTotal
$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue
Gross Margin
As Reported$594,300 39.0 %$226,412 99.8 %$820,712 46.9 %$187,807 19.3 %$1,008,519 37.1 %$686,731 39.4 %$255,349 99.8 %$942,080 47.2 %$197,396 20.8 %$1,139,476 38.6 %
Adjustments (1)— — — — — — 8,762 0.9 %8,762 0.3 %— — — — — — 11,587 1.2 %11,587 0.4 %
As Adjusted$594,300 39.0 %$226,412 99.8 %$820,712 46.9 %$196,569 20.2 %$1,017,281 37.4 %$686,731 39.4 %$255,349 99.8 %$942,080 47.2 %$208,983 22.0 %$1,151,063 39.0 %
(1)Changes in the Company’s employee deferred compensation plan obligations related to Protiviti operations are included in costs of services, while the related investment income is presented separately. The non-GAAP financial adjustments shown in the table above are to reclassify investment income from investments held in employee deferred compensation trusts to the same line item that includes the corresponding change in obligation. These adjustments have no impact on income before income taxes.
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ROBERT HALF INC.
NON-GAAP FINANCIAL MEASURES
ADJUSTED SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (UNAUDITED):
(in thousands)
Three Months Ended June 30,RelationshipsSix Months Ended June 30,Relationships
As ReportedAs AdjustedAs ReportedAs AdjustedAs ReportedAs AdjustedAs ReportedAs Adjusted
2025202420252024202520242025202420252024202520242025202420252024
Selling, General and
  Administrative Expenses
Contract talent solutions
$318,871 $308,886 $278,944 $298,015 42.0 %36.1 %36.7 %34.9 %$595,083 $640,474 $569,186 $598,467 39.1 %36.8 %37.4 %34.4 %
Permanent placement talent solutions
111,218 116,285 106,292 114,653 97.0 %88.7 %92.7 %87.5 %217,353 232,861 214,529 227,346 95.8 %91.0 %94.6 %88.9 %
Total talent solutions430,089 425,171 385,236 412,668 49.2 %43.1 %44.1 %41.9 %812,436 873,335 783,715 825,813 46.4 %43.7 %44.8 %41.3 %
Protiviti
77,845 75,965 77,845 75,965 15.7 %15.6 %15.7 %15.6 %155,661 149,700 155,661 149,700 16.0 %15.7 %16.0 %15.7 %
Total$507,934 $501,136 $463,081 $488,633 37.1 %34.0 %33.8 %33.2 %$968,097 $1,023,035 $939,376 $975,513 35.6 %34.7 %34.5 %33.1 %
The following tables provide reconciliations of the non-GAAP adjusted selling, general and administrative expenses to reported selling, general and administrative expenses for the three months ended June 30, 2025 and 2024:
Three Months Ended June 30, 2025Three Months Ended June 30, 2024
Contract talent
solutions		Permanent placement talent solutionsTotal talent solutionsProtivitiTotalContract talent
solutions		Permanent placement talent solutionsTotal talent solutionsProtivitiTotal
$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue
Selling, General and
  Administrative Expenses
As Reported$318,871 42.0 %$111,218 97.0 %$430,089 49.2 %$77,845 15.7 %$507,934 37.1 %$308,886 36.1 %$116,285 88.7 %$425,171 43.1 %$75,965 15.6 %$501,136 34.0 %
Adjustments (1)(39,927)(5.3 %)(4,926)(4.3 %)(44,853)(5.1 %)— — (44,853)(3.3 %)(10,871)(1.2 %)(1,632)(1.2 %)(12,503)(1.2 %)— — (12,503)(0.8 %)
As Adjusted$278,944 36.7 %$106,292 92.7 %$385,236 44.1 %$77,845 15.7 %$463,081 33.8 %$298,015 34.9 %$114,653 87.5 %$412,668 41.9 %$75,965 15.6 %$488,633 33.2 %
The following tables provide reconciliations of the non-GAAP adjusted selling, general and administrative expenses to reported selling, general and administrative expenses for the six months ended June 30, 2025 and 2024:
Six Months Ended June 30, 2025Six Months Ended June 30, 2024
Contract talent solutionsPermanent placement talent solutionsTotal talent solutionsProtivitiTotalContract talent solutionsPermanent placement talent solutionsTotal talent solutionsProtivitiTotal
$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue
Selling, General and
  Administrative Expenses
As Reported$595,083 39.1 %$217,353 95.8 %$812,436 46.4 %$155,661 16.0 %$968,097 35.6 %$640,474 36.8 %$232,861 91.0 %$873,335 43.7 %$149,700 15.7 %$1,023,035 34.7 %
Adjustments (1)(25,897)(1.7 %)(2,824)(1.2 %)(28,721)(1.6 %)— — (28,721)(1.1 %)(42,007)(2.4 %)(5,515)(2.1 %)(47,522)(2.4 %)— — (47,522)(1.6 %)
As Adjusted$569,186 37.4 %$214,529 94.6 %$783,715 44.8 %$155,661 16.0 %$939,376 34.5 %$598,467 34.4 %$227,346 88.9 %$825,813 41.3 %$149,700 15.7 %$975,513 33.1 %
(1)Changes in the Company’s employee deferred compensation plan obligations related to talent solutions operations are included in selling, general and administrative expenses, while the related investment income is presented separately. The non-GAAP financial adjustments shown in the table above are to reclassify investment income from investments held in employee deferred compensation trusts to the same line item that includes the corresponding change in obligation. These adjustments have no impact on income before income taxes.
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ROBERT HALF INC.
NON-GAAP FINANCIAL MEASURES
ADJUSTED OPERATING INCOME (UNAUDITED):
(in thousands)
Three Months Ended June 30,RelationshipsSix Months Ended June 30,Relationships
As ReportedAs AdjustedAs ReportedAs AdjustedAs ReportedAs AdjustedAs ReportedAs Adjusted
2025202420252024202520242025202420252024202520242025202420252024
Operating income (loss)
Contract talent solutions
$(21,504)$27,275 $18,423 $38,146 (2.8 %)3.2 %2.4 %4.5 %$(783)$46,257 $25,114 $88,264 (0.1 %)2.7 %1.6 %5.1 %
Permanent placement talent solutions
3,333 14,516 8,259 16,148 2.9 %11.1 %7.2 %12.3 %9,059 22,488 11,883 28,003 4.0 %8.8 %5.2 %10.9 %
Total talent solutions(18,171)41,791 26,682 54,294 (2.1 %)4.2 %3.1 %5.5 %8,276 68,745 36,997 116,267 0.5 %3.4 %2.1 %5.8 %
Protiviti
19,711 33,752 32,512 36,982 4.0 %6.9 %6.6 %7.6 %32,146 47,696 40,908 59,283 3.3 %5.0 %4.2 %6.2 %
Total$1,540 $75,543 $59,194 $91,276 0.1 %5.1 %4.3 %6.2 %$40,422 $116,441 $77,905 $175,550 1.5 %3.9 %2.9 %6.0 %

The following tables provide reconciliations of the non-GAAP adjusted operating income to reported operating income (loss) for the three months ended June 30, 2025 and 2024:
Three Months Ended June 30, 2025Three Months Ended June 30, 2024
Contract talent
solutions		Permanent placement talent solutionsTotal talent solutionsProtivitiTotalContract talent
solutions		Permanent placement talent solutionsTotal talent solutionsProtivitiTotal
$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue
Operating income (loss)
As Reported$(21,504)(2.8 %)$3,333 2.9 %$(18,171)(2.1 %)$19,711 4.0 %$1,540 0.1 %$27,275 3.2 %$14,516 11.1 %$41,791 4.2 %$33,752 6.9 %$75,543 5.1 %
Adjustments (1)39,927 5.2 %4,926 4.3 %44,853 5.2 %12,801 2.6 %57,654 4.2 %10,871 1.3 %1,632 1.2 %12,503 1.3 %3,230 0.7 %15,733 1.1 %
As Adjusted$18,423 2.4 %$8,259 7.2 %$26,682 3.1 %$32,512 6.6 %$59,194 4.3 %$38,146 4.5 %$16,148 12.3 %$54,294 5.5 %$36,982 7.6 %$91,276 6.2 %

The following tables provide reconciliations of the non-GAAP adjusted operating income (loss) to reported operating income for the six months ended June 30, 2025 and 2024:

Six Months Ended June 30, 2025Six Months Ended June 30, 2024
Contract talent
solutions		Permanent placement talent solutionsTotal talent solutionsProtivitiTotalContract talent
solutions		Permanent placement talent solutionsTotal talent solutionsProtivitiTotal
$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue
Operating income (loss)
As Reported$(783)(0.1 %)$9,059 4.0 %$8,276 0.5 %$32,146 3.3 %$40,422 1.5 %$46,257 2.7 %$22,488 8.8 %$68,745 3.4 %$47,696 5.0 %$116,441 3.9 %
Adjustments (1)25,897 1.7 %2,824 1.2 %28,721 1.6 %8,762 0.9 %37,483 1.4 %42,007 2.4 %5,515 2.1 %47,522 2.4 %11,587 1.2 %59,109 2.1 %
As Adjusted$25,114 1.6 %$11,883 5.2 %$36,997 2.1 %$40,908 4.2 %$77,905 2.9 %$88,264 5.1 %$28,003 10.9 %$116,267 5.8 %$59,283 6.2 %$175,550 6.0 %

(1)Changes in the Company’s employee deferred compensation plan obligations related to talent solutions operations are included in operating income (loss). The non-GAAP financial adjustments shown in the table above are to reclassify investment income from investments held in employee deferred compensation trusts to the same line item that includes the corresponding change in obligation. These adjustments have no impact on income before income taxes.
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ROBERT HALF INC.
NON-GAAP FINANCIAL MEASURES
REVENUE GROWTH RATES (%) (UNAUDITED): 
 Year-Over-Year Growth Rates
(As Reported)		Non-GAAP Year-Over-Year Growth Rates
(As Adjusted)
 2024202520242025
 Q1Q2Q3Q4Q1Q2Q1Q2Q3Q4Q1Q2
Global
Finance and accounting-17.5-13.6-9.2-9.5-12.3-10.8-17.0-13.5-10.5-9.8-10.0-10.8
Administrative and customer support-8.9-9.8-9.2-8.8-17.2-13.0-8.3-9.8-10.8-9.4-15.2-13.3
Technology-18.6-13.1-6.1-3.5-3.40.3-17.8-13.1-7.6-4.1-1.30.4
Elimination of intersegment revenues (1)-10.31.421.618.94.52.9-9.91.319.417.86.82.5
Total contract talent solutions
-16.7-14.5-11.9-11.5-14.0-11.1-16.2-14.4-13.2-11.8-11.8-11.1
Permanent placement talent solutions-20.4-12.2-11.9-11.1-10.2-12.5-19.8-12.0-13.2-11.4-7.8-12.6
Total talent solutions-17.2-14.2-11.9-11.4-13.5-11.3-16.7-14.0-13.2-11.7-11.3-11.3
Protiviti
-6.1-0.96.45.32.71.8-5.4-0.94.54.54.71.5
Total-14.0-10.2-6.3-6.1-8.4-7.0-13.4-10.1-7.7-6.6-6.2-7.1
United States
Contract talent solutions
-19.1-15.7-12.4-10.3-11.8-10.7-18.6-15.8-13.7-11.2-10.7-10.7
Permanent placement talent solutions-19.3-11.5-9.0-9.6-8.5-13.2-18.7-11.7-10.4-10.4-7.3-13.2
Total talent solutions-19.1-15.2-12.0-10.2-11.4-11.0-18.6-15.3-13.3-11.1-10.3-11.0
Protiviti
-4.83.39.36.62.3-0.7-4.23.17.65.63.6-0.7
Total-14.9-9.6-5.2-4.7-6.9-7.4-14.3-9.7-6.7-5.7-5.7-7.4
International
Contract talent solutions
-8.4-10.0-10.6-15.2-20.7-12.5-7.5-9.4-11.7-13.9-16.2-12.9
Permanent placement talent solutions-23.2-13.8-18.6-14.7-14.5-10.6-22.1-13.0-19.8-13.7-10.1-11.2
Total talent solutions-10.8-10.7-11.9-15.1-19.8-12.2-9.9-10.0-13.0-13.9-15.3-12.6
Protiviti
-11.3-16.2-5.60.24.413.1-10.1-15.9-8.1-0.47.910.7
Total-10.9-12.2-10.2-10.9-13.6-5.3-10.0-11.6-11.7-10.2-9.4-6.3
(1)Service revenues for finance and accounting, administrative and customer support, and technology include intersegment revenues, which represent revenues from services provided to Protiviti in connection with the Company’s blended business solutions. Intersegment revenues for each functional specialization are aggregated and then eliminated as a single line item.
The non-GAAP financial measures included in the table above adjust for the following items:
Billing Days. The “As Reported” revenue growth rates are based upon reported revenues. Management calculates the billing day impact by dividing each comparative period’s reported revenues by the number of billing days for that period to arrive at a per billing day amount. Same billing day growth rates are then calculated based on the per billing day amounts. Management calculates a global, weighted-average number of billing days for each reporting period based upon input from all countries and all functional specializations and segments.
Foreign Currency Translation. The “As Reported” revenue growth rates are based upon reported revenues, which include the impact of changes in foreign currency exchange rates. The foreign currency impact is calculated by retranslating current period international revenues, using foreign currency exchange rates from the prior year’s comparable period.
The term “As Adjusted” means that the impact of different billing days and constant currency fluctuations are removed from the revenue growth rate calculation. A reconciliation of the non-GAAP year-over-year revenue growth rates to the “As Reported” year-over-year revenue growth rates is included herein, on Pages 10-12.


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ROBERT HALF INC.
NON-GAAP FINANCIAL MEASURES
REVENUE GROWTH RATE (%) RECONCILIATION (UNAUDITED):
Year-Over-Year Revenue Growth – GLOBAL
 Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025 Q2 2025
Finance and accounting
As Reported-17.5 -13.6 -9.2 -9.5 -12.3 -10.8 
Billing Days Impact0.7 -0.3 -1.5 -0.8 1.3 0.4 
Currency Impact-0.2 0.4 0.2 0.5 1.0 -0.4 
As Adjusted -17.0 -13.5 -10.5 -9.8 -10.0 -10.8 
Administrative and customer support
As Reported-8.9 -9.8 -9.2 -8.8 -17.2 -13.0 
Billing Days Impact0.8 -0.3 -1.5 -0.8 1.3 0.4 
Currency Impact-0.2 0.3 -0.1 0.2 0.7 -0.7 
As Adjusted -8.3 -9.8 -10.8 -9.4 -15.2 -13.3 
Technology
As Reported-18.6 -13.1 -6.1 -3.5 -3.4 0.3 
Billing Days Impact0.7 -0.3 -1.5 -0.7 1.4 0.5 
Currency Impact0.1 0.3 0.0 0.1 0.7 -0.4 
As Adjusted -17.8 -13.1 -7.6 -4.1 -1.3 0.4 
Elimination of intersegment revenues
As Reported-10.3 1.4 21.6 18.9 4.5 2.9 
Billing Days Impact0.7 -0.3 -1.9 -1.0 1.6 0.5 
Currency Impact-0.3 0.2 -0.3 -0.1 0.7 -0.9 
As Adjusted-9.9 1.3 19.4 17.8 6.8 2.5 
Total contract talent solutions
As Reported-16.7 -14.5 -11.9 -11.5 -14.0 -11.1 
Billing Days Impact0.6 -0.3 -1.4 -0.7 1.3 0.4 
Currency Impact-0.1 0.4 0.1 0.4 0.9 -0.4 
As Adjusted-16.2 -14.4 -13.2 -11.8 -11.8 -11.1 
Permanent placement talent solutions
As Reported-20.4 -12.2 -11.9 -11.1 -10.2 -12.5 
Billing Days Impact0.7 -0.3 -1.4 -0.7 1.3 0.5 
Currency Impact-0.1 0.5 0.1 0.4 1.1 -0.6 
As Adjusted-19.8 -12.0 -13.2 -11.4 -7.8 -12.6 
Total talent solutions
As Reported-17.2 -14.2 -11.9 -11.4 -13.5 -11.3 
Billing Days Impact0.6 -0.2 -1.4 -0.7 1.2 0.4 
Currency Impact-0.1 0.4 0.1 0.4 1.0 -0.4 
As Adjusted-16.7 -14.0 -13.2 -11.7 -11.3 -11.3 
Protiviti
As Reported-6.1 -0.9 6.4 5.3 2.7 1.8 
Billing Days Impact0.7 -0.3 -1.7 -0.8 1.5 0.4 
Currency Impact0.0 0.3 -0.2 0.0 0.5 -0.7 
As Adjusted-5.4 -0.9 4.5 4.5 4.7 1.5 
Total
As Reported-14.0 -10.2 -6.3 -6.1 -8.4 -7.0 
Billing Days Impact0.7 -0.3 -1.4 -0.8 1.4 0.4 
Currency Impact-0.1 0.4 0.0 0.3 0.8 -0.5 
As Adjusted-13.4 -10.1 -7.7 -6.6 -6.2 -7.1 




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ROBERT HALF INC.
NON-GAAP FINANCIAL MEASURES
REVENUE GROWTH RATE (%) RECONCILIATION (UNAUDITED):

Year-Over-Year Revenue Growth – UNITED STATES
 Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025 Q2 2025
Contract talent solutions
As Reported-19.1 -15.7 -12.4 -10.3 -11.8 -10.7 
Billing Days Impact0.5 -0.1 -1.3 -0.9 1.1 0.0 
Currency Impact――――――
As Adjusted-18.6 -15.8 -13.7 -11.2 -10.7 -10.7 
Permanent placement talent solutions
As Reported-19.3 -11.5 -9.0 -9.6 -8.5 -13.2 
Billing Days Impact0.6 -0.2 -1.4 -0.8 1.2 0.0 
Currency Impact――――――
As Adjusted-18.7 -11.7 -10.4 -10.4 -7.3 -13.2 
Total talent solutions
As Reported-19.1 -15.2 -12.0 -10.2 -11.4 -11.0 
Billing Days Impact0.5 -0.1 -1.3 -0.9 1.1 0.0 
Currency Impact――――――
As Adjusted-18.6 -15.3 -13.3 -11.1 -10.3 -11.0 
Protiviti
As Reported-4.8 3.3 9.3 6.6 2.3 -0.7 
Billing Days Impact0.6 -0.2 -1.7 -1.0 1.3 0.0 
Currency Impact――――――
As Adjusted-4.2 3.1 7.6 5.6 3.6 -0.7 
Total
As Reported-14.9 -9.6 -5.2 -4.7 -6.9 -7.4 
Billing Days Impact0.6 -0.1 -1.5 -1.0 1.2 0.0 
Currency Impact――――――
As Adjusted-14.3 -9.7 -6.7 -5.7 -5.7 -7.4 
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ROBERT HALF INC.
NON-GAAP FINANCIAL MEASURES
REVENUE GROWTH RATE (%) RECONCILIATION (UNAUDITED):
Year-Over-Year Revenue Growth – INTERNATIONAL
 Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025 Q2 2025
Contract talent solutions
As Reported-8.4 -10.0 -10.6 -15.2 -20.7 -12.5 
Billing Days Impact1.5 -1.1 -1.6 -0.4 0.6 1.4 
Currency Impact-0.6 1.7 0.5 1.7 3.9 -1.8 
As Adjusted-7.5 -9.4 -11.7 -13.9 -16.2 -12.9 
Permanent placement talent solutions
As Reported-23.2 -13.8 -18.6 -14.7 -14.5 -10.6 
Billing Days Impact1.3 -1.0 -1.6 -0.4 0.6 1.4 
Currency Impact-0.2 1.8 0.4 1.4 3.8 -2.0 
As Adjusted-22.1 -13.0 -19.8 -13.7 -10.1 -11.2 
Total talent solutions
As Reported-10.8 -10.7 -11.9 -15.1 -19.8 -12.2 
Billing Days Impact1.4 -1.0 -1.6 -0.5 0.6 1.4 
Currency Impact-0.5 1.7 0.5 1.7 3.9 -1.8 
As Adjusted-9.9 -10.0 -13.0 -13.9 -15.3 -12.6 
Protiviti
As Reported-11.3 -16.2 -5.6 0.2 4.4 13.1 
Billing Days Impact1.4 -1.0 -1.7 -0.4 0.7 1.7 
Currency Impact-0.2 1.3 -0.8 -0.2 2.8 -4.1 
As Adjusted-10.1 -15.9 -8.1 -0.4 7.9 10.7 
Total
As Reported-10.9 -12.2 -10.2 -10.9 -13.6 -5.3 
Billing Days Impact1.3 -1.0 -1.6 -0.5 0.6 1.5 
Currency Impact-0.4 1.6 0.1 1.2 3.6 -2.5 
As Adjusted-10.0 -11.6 -11.7 -10.2 -9.4 -6.3 




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