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Segments | 12 Months Ended
--- | ---
Apr. 30, 2025
Segment Reporting [Abstract] |
Segments | Segments The Company has eight reportable segments: Consulting, Digital, Executive Search North America, Executive Search EMEA, Executive Search Asia Pacific, Executive Search Latin America, Professional Search & Interim and RPO. Executive Search is managed by geographic regional leaders. Worldwide operations for Consulting, Professional Search & Interim and RPO are managed by their Chief Executive Officers. Beginning in the second quarter of fiscal 2024, Digital is led by the President of Technology. The Executive Search geographic regional leaders, the Chief Executive Officers of Consulting, Professional Search & Interim and RPO and the President of Technology report directly to the Chief Executive Officer of the Company. The Company also operates Corporate to record global expenses. The Company's chief executive officer is the Company's chief operating decision maker ("CODM"), which evaluates performance and allocates resources based on the review of the Company’s 1) fee revenue and 2) adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”). To the extent that such costs or charges occur, Adjusted EBITDA excludes restructuring charges, integration/acquisition costs, certain separation costs and certain non-cash charges (goodwill, intangible asset and other impairment charges). The CODM is not provided asset information by reportable segment, because asset information is not used for purposes of evaluating segment performance or allocating resources among segments. Financial highlights by reportable segments are as follows:
| Year Ended April 30, 2025
|  |  | Executive Search |  |  |  |
| Consulting | Digital | North America | EMEA | Asia Pacific | Latin America | Professional Search & Interim | RPO | Corporate | Consolidated
| (in thousands)
Fee revenue | $ | 662,708 |  | $ | 363,530 |  | $ | 535,921 |  | $ | 194,088 |  | $ | 87,337 |  | $ | 28,862 |  | $ | 503,515 |  | $ | 354,127 |  | $ | — |  | $ | 2,730,088 |
Total revenue | $ | 674,070 |  | $ | 363,727 |  | $ | 542,068 |  | $ | 195,268 |  | $ | 87,840 |  | $ | 28,876 |  | $ | 507,246 |  | $ | 361,991 |  | $ | — |  | $ | 2,761,086 |
Less |  |  |  |  |  |  |  |  |  |
Compensation and benefits(1) | $ | 453,964 |  | $ | 179,487 |  | $ | 362,296 |  | $ | 145,397 |  | $ | 61,662 |  | $ | 18,175 |  | $ | 186,184 |  | $ | 269,043 |  | $ | 71,908 |  |
General and administrative expenses(2) | 51,330 |  | 38,762 |  | 33,324 |  | 17,034 |  | 7,838 |  | 2,534 |  | 19,484 |  | 21,154 |  | 60,524 |  |
Cost of services | 44,428 |  | 33,927 |  | 3,825 |  | 287 |  | 318 |  | 213 |  | 190,772 |  | 11,305 |  | — |  |
Other segment items(3) | 8,867 |  | (1,145) |  | (5,619) |  | 861 |  | (97) |  | (195) |  | 3,206 |  | 7,854 |  | (1,687) |  |
Segment Adjusted EBITDA | 115,481 |  | 112,696 |  | 148,242 |  | 31,689 |  | 18,119 |  | 8,149 |  | 107,600 |  | 52,635 |  | (130,745) |  | 463,866 |
Reconciliation of Segment Adjusted EBITDA |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  |  |  |  | 80,287 |
Restructuring charges, net |  |  |  |  |  |  |  |  |  | 1,892 |
Interest expense, net |  |  |  |  |  |  |  |  |  | 20,363 |
Impairment of right-to-use assets |  |  |  |  |  |  |  |  |  | 2,452 |
Impairment of fixed assets |  |  |  |  |  |  |  |  |  | 509 |
Integration/acquisition costs |  |  |  |  |  |  |  |  |  | 8,837 |
Management separation charges |  |  |  |  |  |  |  |  |  | 4,614 |
Income tax provision |  |  |  |  |  |  |  |  |  | 93,836 |
Net income attributable to noncontrolling interest |  |  |  |  |  |  |  |  |  | 5,014 |
Net income attributable to Korn Ferry |  |  |  |  |  |  |  |  |  | $ | 246,062 |
_______________________________ (1)Includes salaries and payroll taxes, employee insurance benefits, commissions, annual performance-related bonus expense, amortization of unearned compensation, stock-based compensation awards, changes in deferred compensation and pension plan liabilities and changes in CSV of COLI contracts. Excludes integration/acquisition costs and management separation charges as they are excluded from Adjusted EBITDA. (2)Mainly includes premise and office expense, marketing and business development expense, bad debts, legal and other professional fees and foreign exchange gains/losses. Excludes impairment of right-of-use assets and fixed assets and integration/acquisition costs as they are excluded from Adjusted EBITDA. (3)Includes reimbursed expenses and other income, net.
| Year Ended April 30, 2024
|  |  | Executive Search |  |  |  |
| Consulting | Digital | North America | EMEA | Asia Pacific | Latin America | Professional Search & Interim | RPO | Corporate | Consolidated
| (in thousands)
Fee revenue | $ | 695,007 |  | $ | 366,699 |  | $ | 506,927 |  | $ | 184,516 |  | $ | 85,863 |  | $ | 28,937 |  | $ | 540,615 |  | $ | 354,107 |  | $ | — |  | $ | 2,762,671 |
Total revenue | $ | 706,805 |  | $ | 366,924 |  | $ | 513,545 |  | $ | 185,552 |  | $ | 86,273 |  | $ | 28,956 |  | $ | 544,453 |  | $ | 362,997 |  | $ | — |  | $ | 2,795,505 |
Less |  |  |  |  |  |  |  |  |  |
Compensation and benefits(1) | $ | 484,468 |  | $ | 187,924 |  | $ | 371,237 |  | $ | 141,670 |  | $ | 58,835 |  | $ | 18,664 |  | $ | 210,356 |  | $ | 284,349 |  | $ | 72,613 |  |
General and administrative expenses(2) | 54,176 |  | 38,452 |  | 31,588 |  | 16,351 |  | 8,831 |  | 4,761 |  | 23,846 |  | 18,612 |  | 58,400 |  |
Cost of services | 45,399 |  | 33,290 |  | 3,419 |  | 513 |  | 184 |  | 218 |  | 205,765 |  | 11,227 |  | — |  |
Other segment items(3) | 8,502 |  | (1,411) |  | (13,409) |  | 1,116 |  | (500) |  | (258) |  | 2,618 |  | 8,410 |  | (2,915) |  |
Segment Adjusted EBITDA | 114,260 |  | 108,669 |  | 120,710 |  | 25,902 |  | 18,923 |  | 5,571 |  | 101,868 |  | 40,399 |  | (128,098) |  | 408,204 |
Reconciliation of Segment Adjusted EBITDA |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  |  |  |  | 77,966 |
Restructuring charges, net |  |  |  |  |  |  |  |  |  | 68,558 |
Interest expense, net |  |  |  |  |  |  |  |  |  | 20,968 |
Impairment of right-to-use assets |  |  |  |  |  |  |  |  |  | 1,629 |
Impairment of fixed assets |  |  |  |  |  |  |  |  |  | 1,575 |
Integration/acquisition costs |  |  |  |  |  |  |  |  |  | 14,866 |
Income tax provision |  |  |  |  |  |  |  |  |  | 50,081 |
Net income attributable to noncontrolling interest |  |  |  |  |  |  |  |  |  | 3,407 |
Net income attributable to Korn Ferry |  |  |  |  |  |  |  |  |  | $ | 169,154 |
_______________________________ (1)Includes salaries and payroll taxes, employee insurance benefits, commissions, annual performance-related bonus expense, amortization of unearned compensation, stock-based compensation awards, changes in deferred compensation and pension plan liabilities and changes in CSV of COLI contracts. Excludes integration/acquisition costs as they are excluded from Adjusted EBITDA. (2)Mainly includes premise and office expense, marketing and business development expense, bad debts, legal and other professional fees and foreign exchange gains/losses. Excludes impairment of right-of-use assets and fixed assets and integration/acquisition costs as they are excluded from Adjusted EBITDA. (3)Includes reimbursed expenses and other income, net.
| Year Ended April 30, 2023
|  |  | Executive Search |  |  |  |
| Consulting | Digital | North America | EMEA | Asia Pacific | Latin America | Professional Search & Interim | RPO | Corporate | Consolidated
| (in thousands)
Fee revenue | $ | 677,001 |  | $ | 354,651 |  | $ | 562,139 |  | $ | 187,014 |  | $ | 95,598 |  | $ | 31,047 |  | $ | 503,395 |  | $ | 424,563 |  | $ | — |  | $ | 2,835,408 |
Total revenue | $ | 686,979 |  | $ | 354,967 |  | $ | 568,212 |  | $ | 188,114 |  | $ | 95,956 |  | $ | 31,054 |  | $ | 507,058 |  | $ | 431,496 |  | $ | — |  | $ | 2,863,836 |
Less |  |  |  |  |  |  |  |  |  |
Compensation and benefits(1) | $ | 478,549 |  | $ | 189,084 |  | $ | 386,070 |  | $ | 140,508 |  | $ | 61,949 |  | $ | 20,379 |  | $ | 214,949 |  | $ | 339,000 |  | $ | 62,362 |  |
General and administrative expenses(2) | 51,956 |  | 37,413 |  | 32,437 |  | 14,667 |  | 9,697 |  | 1,397 |  | 27,082 |  | 21,220 |  | 56,174 |  |
Cost of services | 39,689 |  | 31,522 |  | 3,370 |  | 731 |  | 138 |  | 92 |  | 150,967 |  | 11,990 |  | — |  |
Other segment items(3) | 8,283 |  | (510) |  | 5,485 |  | 828 |  | (50) |  | (184) |  | 3,181 |  | 6,698 |  | (564) |  |
Segment Adjusted EBITDA | 108,502 |  | 97,458 |  | 140,850 |  | 31,380 |  | 24,222 |  | 9,370 |  | 110,879 |  | 52,588 |  | (117,972) |  | 457,277 |
Reconciliation of Segment Adjusted EBITDA |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  |  |  |  | 68,335 |
Restructuring charges, net |  |  |  |  |  |  |  |  |  | 42,573 |
Interest expense, net |  |  |  |  |  |  |  |  |  | 25,864 |
Impairment of right-to-use assets |  |  |  |  |  |  |  |  |  | 5,471 |
Impairment of fixed assets |  |  |  |  |  |  |  |  |  | 4,375 |
Integration/acquisition costs |  |  |  |  |  |  |  |  |  | 14,922 |
Income tax provision |  |  |  |  |  |  |  |  |  | 82,683 |
Net income attributable to noncontrolling interest |  |  |  |  |  |  |  |  |  | 3,525 |
Net income attributable to Korn Ferry |  |  |  |  |  |  |  |  |  | $ | 209,529 |
_______________________________ (1)Includes salaries and payroll taxes, employee insurance benefits, commissions, annual performance-related bonus expense, amortization of unearned compensation, stock-based compensation awards, changes in deferred compensation and pension plan liabilities and changes in CSV of COLI contracts. Excludes integration/acquisition costs as they are excluded from Adjusted EBITDA. (2)Mainly includes premise and office expense, marketing and business development expense, bad debts, legal and other professional fees and foreign exchange gains/losses. Excludes impairment of right-of use-assets and fixed assets and integration/acquisition costs as they are excluded from Adjusted EBITDA. (3)Includes reimbursed expenses and other income, net. Fee revenue attributed to an individual customer or country, other than the U.S. and United Kingdom in fiscal 2025, and the U.S. in fiscal 2024 and 2023, did not account for more than 10% of the total fee revenue in those fiscal years. Fee revenue classified by country in which the Company derives revenues are as follows:
| Year Ended April 30,
| 2025 |  | 2024 |  | 2023
| (in thousands)
U.S. | $ | 1,448,174 |  |  | $ | 1,507,819 |  |  | $ | 1,568,119 |
United Kingdom | 327,036 |  |  | 262,268 |  |  | 255,797 |
Other countries | 954,878 |  |  | 992,584 |  |  | 1,011,492 |
Total fee revenue | $ | 2,730,088 |  |  | $ | 2,762,671 |  |  | $ | 2,835,408 |
Depreciation and amortization by reportable segments are as follows:
| Year Ended April 30,
| 2025 |  | 2024 |  | 2023
| (in thousands)
Consulting | $ | 16,134 |  |  | $ | 16,822 |  |  | $ | 16,557 |
Digital | 34,954 |  |  | 32,248 |  |  | 29,997 |
Executive Search: |  |  |  |  |
North America | 1,416 |  |  | 1,774 |  |  | 2,013 |
EMEA | 1,935 |  |  | 1,726 |  |  | 1,369 |
Asia Pacific | 910 |  |  | 904 |  |  | 661 |
Latin America | 964 |  |  | 1,053 |  |  | 792 |
Professional Search & Interim | 12,337 |  |  | 12,950 |  |  | 8,639 |
RPO | 3,317 |  |  | 2,863 |  |  | 2,410 |
Corporate | 8,320 |  |  | 7,626 |  |  | 5,897 |
Total depreciation and amortization | $ | 80,287 |  |  | $ | 77,966 |  |  | $ | 68,335 |
Other than the U.S. and United Kingdom in fiscal 2025 and 2024, and the U.S. in fiscal 2023, no single country had over 10% of the total long-lived assets, excluding financial instruments and tax assets. Long-lived assets, excluding financial instruments and tax assets, classified by location of the controlling statutory country are as follows:
| Year Ended April 30,
| 2025 |  | 2024 |  | 2023
| (in thousands)
U.S.(1) | $ | 177,921 |  |  | $ | 175,691 |  |  | $ | 186,220 |
United Kingdom | 71,632 |  |  | 64,280 |  |  | 22,893 |
Other countries | 76,769 |  |  | 82,342 |  |  | 95,453 |
Total long-lived assets | $ | 326,322 |  |  | $ | 322,313 |  |  | $ | 304,566 |
_______________________________ (1)Includes Corporate long-lived assets.

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- Definition The entire disclosure for reporting segments including data and tables. 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