DHI Group (DHX) Noble Capital Markets June 2026 Emerging Growth Virtual Equity Conference summary

Business overview and market positioning

• Operates two-sided marketplaces, Dice and ClearanceJobs, focused on tech talent recruitment.

• Platforms feature proprietary search algorithms and decades of candidate acquisition, with over 9 million tech professional profiles.

• Over 90% of revenue is recurring, driven by subscription contracts with hiring managers and recruiters.

• ClearanceJobs dominates the market for government-cleared tech professionals, with unique access not available on LinkedIn.

• Dice and ClearanceJobs serve distinct but complementary segments, with Dice targeting broader tech roles and ClearanceJobs focusing on security-cleared positions.

Industry trends and growth drivers

• Tech workforce projected to grow 15% over the next decade, double the overall employment rate.

• AI-related skills are in high demand, with 71% of tech job postings now requiring AI expertise.

• ClearanceJobs benefits from rising global defense spending and increased government contracting.

• Dice's growth is closely tied to the health of the tech staffing sector, which is showing signs of recovery.

• New tech job postings have increased 34% year-over-year, reflecting robust demand for tech talent.

Financial performance and outlook

• Bookings have declined at a 1% CAGR since 2021, while revenue has grown at a 2% CAGR.

• Adjusted EBITDA margin expanded to 27% in 2025, with a 25% target for 2026.

• ClearanceJobs revenue has a five-year CAGR of 12% and 40% EBITDA margin; Dice revenue has declined but margins have improved due to restructuring.

• Free cash flow targeted at 10%+ of revenue, supported by recurring revenue and disciplined capital allocation.

• Share repurchases and low leverage maintained, with a $10 million buyback program through February 2027.