DHI Group (DHX) Planet MicroCap Las Vegas 2026 summary

Business model and market positioning

• Operates two platforms, ClearanceJobs and Dice, focused on connecting employers with tech talent, especially those with specialized skills and security clearances.

• Differentiates from competitors through proprietary skill-based search algorithms and a large, unique database of over nine million tech professionals, representing two-thirds of U.S. technologists.

• Over 90% of revenue is recurring, driven by subscription contracts with auto-renewal and price escalators.

• ClearanceJobs dominates the market for government-cleared tech professionals, a segment not served by LinkedIn.

• Staffing and recruiting firms make up about 80% of Dice's customer base, with the remainder being commercial accounts.

Financial performance and cost management

• Bookings have declined at a 1% CAGR since 2021, while revenue has grown at a 2% CAGR, with over 90% of revenue recurring and 50% of annual revenue under contract at the year's start.

• Adjusted EBITDA margin expanded to 27% in 2025, with a 25% target for 2026, driven by $35 million in cost reductions through restructurings.

• Operating cash flows ranged from $21 million to $36 million over five years, with free cash flow targeted at 10% or more of revenue.

• Debt remains low at less than one times EBITDA, with a $70 million revolver and ongoing share buybacks reducing dilution by nearly 10%.

• ClearanceJobs revenue grew at a 12% CAGR over five years, while Dice revenue declined at a -4% CAGR, though Dice's EBITDA margin improved to 28% recently.

Growth drivers and market trends

• Tech workforce in the U.S. has grown 3% annually over 25 years, with a projected 15% growth over the next decade, double the overall employment rate.

• AI-related skills are increasingly in demand, with two-thirds of tech job postings now requiring them, up from 29% a year ago.

• May 2026 saw 270,000 new tech job postings, a 29% year-over-year increase, signaling early signs of market recovery.

• Both platforms have significant untapped addressable markets, with thousands of potential new clients among government contractors and staffing firms.

• Marketing and digital engagement are key to activating the large candidate base, with activity levels influenced by broader economic conditions.