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Insperity (NSP) investor relations material
Insperity Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary3 Nov, 2025
Executive summary
Q3 2025 revenues increased 4% year-over-year to $1.62 billion, with average paid worksite employees up 1% to 312,842 and strong client retention at 99% per month.
Net income dropped to $(20) million and adjusted EBITDA to $10 million, both down sharply year-over-year due to higher healthcare and workers' compensation costs.
Strategic actions include repricing, cost management, and a new multi-year UnitedHealthcare contract to mitigate future claim risks.
HRScale, developed with Workday, launched on schedule and is positioned as a major growth driver for mid-market clients.
Profitability recovery in 2026 is expected, driven by pricing, cost controls, and the UHC contract.
Financial highlights
Q3 2025 gross profit was $195 million, down 15% year-over-year, mainly due to $20 million in higher benefits costs.
Q3 2025 operating expenses decreased 4% to $220 million, with notable reductions in salaries and G&A.
YTD adjusted EBITDA was $144 million, down 42% year-over-year; adjusted EPS was $1.63.
$87 million returned to shareholders YTD through $68 million in dividends and $19 million in share repurchases.
Ended Q3 with $120 million in adjusted cash and $370 million outstanding borrowings on a $650 million credit facility.
Outlook and guidance
Q4 2025 average paid worksite employees expected at 313,000–315,000, up 1.3%–1.9% year-over-year.
Full-year 2025 adjusted EPS guidance: $0.84–$1.47; adjusted EBITDA: $119–$153 million, both down sharply year-over-year.
Q4 adjusted EBITDA expected between -$25 million and $9 million; adjusted EPS between -$0.79 and -$0.16.
Full-year operating expenses projected to be 3% below 2024 levels, including $48 million investment in the Workday partnership.
UHC contract extension expected to improve financial outlook for 2026 and beyond.
How will UHC contract and pooling level impact 2026 costs?
How will HRScale impact 2026 operating expenses?
How will AI tools drive operating leverage?
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Q4 202511 Feb, 2026
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Frequently asked questions
Insperity, Inc. offers human resources and business performance solutions for small and medium-sized businesses. Services include payroll processing, employee benefits, HR administration, risk management, and talent management solutions. Insperity, Inc. is headquartered in Kingwood, Texas, and its shares are listed on the NYSE.
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