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Segment Information (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

						Three Months Ended September 30,												Nine Months Ended September 30,
						2024						2023						2024						2023
Revenue before reimbursements (net revenue)						$	278,559					$	263,160					$	822,382					$	773,702
Net income						14,829						14,987						23,704						39,555
Interest, net						(2,570)						(2,505)						(9,268)						(7,667)
Other, net						555						649						(3,013)						(2,537)
Provision for income taxes						6,268						9,006						19,750						24,142
Operating income						19,082						22,137						31,173						53,493
Adjustments
Depreciation						2,997						2,387						7,480						6,563
Intangible amortization						1,953						2,353						6,170						6,869
Earnout accretion						478						455						1,413						1,097
Earnout fair value adjustments						—						—						1,211						—
Acquisition contingent consideration						2,947						3,268						8,220						8,711
Deferred compensation plan						2,958						(1,427)						6,264						2,309
Reorganization costs						—						176						—						3,572
Impairment charges						—						—						16,224						7,246
Restructuring charges						—						—						6,939						—
Total adjustments						11,333						7,212						53,921						36,367
Adjusted EBITDA						$	30,415					$	29,349					$	85,094					$	89,860
Adjusted EBITDA margin						10.9		%				11.2		%				10.3		%				11.6		%

Revenue and Adjusted EBITDA by segment are as follows:

						Three Months Ended September 30,												Nine Months Ended September 30,
						2024						2023						2024						2023
Revenue
Executive Search
Americas						$	134,545					$	132,320					$	418,302					$	398,210
Europe						43,143						44,606						124,706						129,104
Asia Pacific						26,701						21,888						72,829						68,766
Total Executive Search						204,389						198,814						615,837						596,080
On-Demand Talent						46,231						41,053						125,983						111,410
Heidrick Consulting						27,939						23,293						80,562						66,212
Revenue before reimbursements (net revenue)						278,559						263,160						822,382						773,702
Reimbursements						4,256						4,736						12,408						10,090
Total revenue						$	282,815					$	267,896					$	834,790					$	783,792

						Three Months Ended September 30,												Nine Months Ended September 30,
						2024						2023						2024						2023
Adjusted EBITDA
Executive Search
Americas						$	40,465					$	39,354					$	130,448					$	127,557
Europe						5,022						8,950						11,215						16,487
Asia Pacific						5,247						2,704						10,182						7,901
Total Executive Search						50,734						51,008						151,845						151,945
On-Demand Talent						1,763						(580)						(787)						660
Heidrick Consulting						(1,025)						(2,391)						(4,447)						(6,848)
Total segment Adjusted EBITDA						51,472						48,037						146,611						145,757
Research and Development						(4,606)						(4,927)						(14,312)						(15,396)
Global Operations Support						(16,451)						(13,761)						(47,205)						(40,501)
Total Adjusted EBITDA						$	30,415					$	29,349					$	85,094					$	89,860

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- References

No definition available.

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