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DHI Group (DHX) investor relations material
DHI Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 revenue was $32.1 million, down 9% year-over-year, with ClearanceJobs up 1% and Dice down 15%; nine-month revenue was $96.5 million, down 10% year-over-year.
Net loss for Q3 was $4.3 million, or $0.10 per diluted share, mainly due to a $9.6 million impairment of the Dice trade name; nine-month net loss was $14.9 million, driven by restructuring and impairments.
Adjusted EBITDA rose to $10.3 million (32% margin) in Q3, up 19% year-over-year, and was $25.7 million (27% margin) for the nine months.
Both ClearanceJobs and Dice generate strong recurring SaaS revenue, with over 90% from annual or multi-year subscriptions and AI-powered matching tools.
Board completed a $5 million stock repurchase and authorized a new $5 million buyback program through November 2026.
Financial highlights
Q3 2025 bookings were $25.4 million, down 12% year-over-year; ClearanceJobs bookings down 7%, Dice down 17%.
ClearanceJobs Q3 revenue was $13.9 million, Dice $18.2 million; nine-month revenue: ClearanceJobs up 1%, Dice down 17%.
Free cash flow for Q3 was $3.2 million, up 38% year-over-year; nine-month operating cash flow was $13.9 million.
Operating expenses for Q3 were $36.6 million, including a $9.6 million impairment; excluding impairment, OpEx declined 22% year-over-year.
Cash at quarter end was $2.3 million; total debt was $30 million, leverage ratio at 0.86.
Outlook and guidance
Full-year revenue guidance reaffirmed at $126–$128 million; Q4 revenue expected between $29.5–$31.5 million.
Full-year Adjusted EBITDA margin guidance raised to 27% due to improved Dice margins and operational efficiency.
Capital expenditures for 2025 anticipated at $7–8 million, funded by operating cash flows.
Management expects continued macroeconomic headwinds, government shutdowns, and AI-driven demand shifts.
Anticipated tailwinds from increased U.S. and EU defense spending benefiting ClearanceJobs.
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