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Segment Information
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company has five operating segments. The Executive Search business operates in the Americas, Europe (which includes Africa) and Asia Pacific (which includes the Middle East), and the Heidrick Consulting and On-Demand Talent businesses operate globally.

In 2023, the Company changed its measure of segment profitability from operating income to Adjusted EBITDA. The following tables include Adjusted EBITDA, which is the measure of segment profitability reported to the chief operating decision maker for purposes of allocating resources to the segments and assessing their performance. For segment purposes, reimbursements of out-of-pocket expenses classified as revenue and other operating income are reported separately and, therefore, are not included in the results of each segment. The Company believes that analyzing trends in revenue before reimbursements (net revenue), analyzing operating expenses as a percentage of net revenue, and analyzing Adjusted EBITDA and Adjusted EBITDA margin more appropriately reflect its core operations.

The Company evaluates performance and allocates resources based on the chief operating decision maker’s review of (1) net revenue and (2) Adjusted EBITDA, which is defined as net income before interest, other income or expense, income taxes, depreciation and amortization, as adjusted, to the extent they occur, for earnout accretion, earnout fair value adjustments, contingent compensation, deferred compensation plan income or expense, certain reorganization costs, impairment charges and restructuring charges. Adjusted EBITDA margin is defined as Adjusted EBITDA as a percentage of revenue in the same period.

Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Revenue before reimbursements (net revenue)$278,626 $271,225 $543,823 $510,542 
Net income (loss)(5,157)8,982 8,875 24,568 
Interest, net(2,612)(1,913)(6,698)(5,162)
Other, net(997)(1,377)(3,568)(3,186)
Provision for income taxes4,583 7,893 13,482 15,136 
Operating income (loss)(4,183)13,585 12,091 31,356 
Adjustments
Depreciation1,990 2,172 4,483 4,176 
Intangible amortization1,920 2,647 4,217 4,516 
Earnout accretion469 451 935 642 
Earnout fair value adjustments1,211 — 1,211 — 
Acquisition contingent consideration3,285 3,784 5,273 5,443 
Deferred compensation plan956 1,603 3,306 3,736 
Reorganization costs— 3,396 — 3,396 
Impairment charges16,224 7,246 16,224 7,246 
Restructuring charges6,939 — 6,939 — 
Total adjustments32,994 21,299 42,588 29,155 
Adjusted EBITDA$28,811 $34,884 $54,679 $60,511 
Adjusted EBITDA margin10.3 %12.9 %10.1 %11.9 %
Revenue and Adjusted EBITDA by segment are as follows:
 Three Months Ended
June 30,		Six Months Ended
June 30,
 2024202320242023
Revenue
Executive Search
Americas$147,078 $138,563 $283,757 $265,890 
Europe 40,082 45,567 81,563 84,498 
Asia Pacific22,807 22,649 46,128 46,878 
Total Executive Search209,967 206,779 411,448 397,266 
On-Demand Talent41,895 39,240 79,752 70,357 
Heidrick Consulting26,764 25,206 52,623 42,919 
Revenue before reimbursements (net revenue)278,626 271,225 543,823 510,542 
Reimbursements4,251 2,552 8,152 5,354 
Total revenue$282,877 $273,777 $551,975 $515,896 

 Three Months Ended
June 30,		Six Months Ended
June 30,
 2024202320242023
Adjusted EBITDA
Executive Search
Americas$48,112 $46,079 $89,983 $88,203 
Europe2,840 5,456 6,193 7,537 
Asia Pacific1,740 1,630 4,935 5,197 
Total Executive Search52,692 53,165 101,111 100,937 
On-Demand Talent(1,629)2,587 (2,550)1,240 
Heidrick Consulting(1,395)(1,662)(3,422)(4,457)
Total segment operating income 49,668 54,090 95,139 97,720 
Research and Development(4,781)(5,218)(9,706)(10,469)
Global Operations Support(16,076)(13,988)(30,754)(26,740)
Total Adjusted EBITDA$28,811 $34,884 $54,679 $60,511