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Segment Information
6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
We provide our services and products and manage our business under three reportable segments: Healthcare, Education, and Commercial, which align our business by industry.
Healthcare
Our Healthcare segment serves acute care providers, including national and regional health systems; academic health systems; community health systems; the federal health system; and public, children’s and critical access hospitals, and non-acute care providers, including physician practices and medical groups; payors; and long-term care or post-acute providers. Our healthcare-focused consulting and managed services offerings include financial and operational performance improvement consulting, which spans revenue cycle, business operations and care delivery transformation; organizational transformation; revenue cycle, clinical and patient access managed services and outsourcing; financial and capital advisory consulting; and strategy consulting. Our healthcare-focused digital services span technology and analytic-related services, including core systems of record, such as enterprise health record (“EHR”), enterprise resource planning (“ERP”), enterprise performance management (“EPM”), and
customer relationship management (“CRM”) systems; data management, artificial intelligence (“AI”) and automation; technology managed services; and payor core administration systems. We also have a portfolio of software products we deliver to the healthcare industry. In June 2025, we enhanced our consulting offerings through the acquisition of Eclipse Insights, a leading provider of revenue cycle solutions. In November 2025, we acquired the consulting services division of AXIOM to strengthen our digital-focused payor offerings. In June 2026, we strengthened our managed services offerings through the acquisition of RelateCare, a leading provider of AI-enabled clinical and patient access solutions.
Education
Our Education segment serves public and private colleges and universities, research institutes, not-for-profit organizations and other education-related organizations. Our education and research-focused consulting and managed services offerings include our research-focused consulting and managed services; our strategy and operations consulting services, which span finance, accounting, operations and athletics to organization and talent strategy and student and academic strategy; and our advancement and fundraising consulting services, which were bolstered by the acquisitions of Advancement Resources and Halpin in March 2025. Our education and research-focused digital offerings span technology and analytic-related services, including core systems of record, such as student information, ERP, EPM, and CRM systems; data management, AI and automation; and technology managed services. Our education and research-focused product offerings include our Huron Research Suite, the leading software suite designed to facilitate and improve research administration service delivery and compliance.
Commercial
Our Commercial segment is focused on serving industries and organizations facing significant disruption and regulatory change by helping them adapt to rapidly changing environments and accelerate business transformation. Our Commercial professionals work primarily with seven primary buyers: the chief executive officer, the chief financial officer, the chief strategy officer, the chief human resources officer, the chief operating officer, the chief risk officer, and organizational advisors, including lenders and law firms. We have a deep focus on serving organizations in the financial services, industrials and manufacturing, and energy and utilities industries and the public sector while opportunistically serving commercial industries more broadly, including professional and business services, life sciences, consumer products, and retail. Our Commercial professionals use their deep industry, functional and technical expertise to deliver our digital services, financial and capital advisory (special situation advisory and corporate finance advisory) consulting services, regulatory compliance and risk management consulting and managed services, strategy and operations consulting services, and financial and operational performance improvement consulting services. In the third quarter of 2025, we bolstered our Commercial consulting offerings through the acquisitions of Treliant, a global financial services consulting and managed services firm, and WP&C, a leading strategy and operations consulting firm specializing in driving operational efficiency and improved growth and profitability.
Our chief operating decision maker (“CODM”), who is our chief executive officer, manages the business under these three reportable segments. Our CODM uses segment operating income in the annual budgeting and quarterly forecasting process as well as on a monthly basis for evaluating the performance of each segment and making decisions about allocating capital and other resources to each segment. Our CODM does not evaluate segments using asset information.
Segment operating income consists of the revenues generated by a segment, less operating expenses that are incurred directly by the segment. Unallocated costs include corporate costs related to administrative functions that are performed in a centralized manner, as well as restructuring charges, other gains and losses, depreciation and amortization, and interest expense that are not attributable to a particular segment. The administrative function costs include corporate office support costs, office facility costs, costs related to accounting and finance, human resources, legal, marketing, information technology, and company-wide business development functions, as well as costs related to overall corporate management. 
The table below sets forth information about our reportable segments for the three and six months ended June 30, 2026 and 2025, along with the items necessary to reconcile the segment information to the totals reported in the accompanying consolidated financial statements. We do not present financial information by geographic area because the financial results of our international operations are not significant to our consolidated financial statements.
Three Months Ended
June 30,
Six Months Ended
June 30,
2026202520262025
Healthcare:
Revenues before reimbursable expenses$232,303 $197,822 $457,504 $396,312 
Three Months Ended
June 30,
Six Months Ended
June 30,
2026202520262025
Reimbursable expenses4,549 5,449 8,533 10,280 
Total revenues236,852 203,271 466,037 406,592 
Operating expenses:
Direct costs151,107 125,759 298,701 256,071 
Reimbursable expenses4,549 5,449 8,533 10,280 
Selling, general and administrative expenses10,087 10,847 21,454 21,178 
Depreciation and amortization1,409 1,568 3,270 3,135 
Other segment items(1)
(202)(3)224 (39)
Total segment operating expenses166,950 143,620 332,182 290,625 
Segment operating income$69,902 $59,651 $133,855 $115,967 
Education:
Revenues before reimbursable expenses$139,375 $129,301 $266,843 $252,049 
Reimbursable expenses2,813 2,385 4,956 4,653 
Total revenues142,188 131,686 271,799 256,702 
Operating expenses:
Direct costs92,034 86,984 182,716 177,349 
Reimbursable expenses2,813 2,385 4,956 4,653 
Selling, general and administrative expenses8,211 8,842 15,568 17,204 
Depreciation and amortization1,688 1,146 2,981 2,115 
Other segment items(1)
26 — 584 (8)
Total segment operating expenses104,772 99,357 206,805 201,313 
Segment operating income$37,416 $32,329 $64,994 $55,389 
Commercial:
Revenues before reimbursable expenses$93,958 $75,382 $185,001 $149,834 
Reimbursable expenses2,044 1,416 3,972 2,768 
Total revenues96,002 76,798 188,973 152,602 
Operating expenses:
Direct costs67,781 56,214 137,369 113,393 
Reimbursable expenses2,044 1,416 3,972 2,768 
Selling, general and administrative expenses6,390 6,316 12,677 12,068 
Depreciation and amortization11 236 72 472 
Other segment items(1)
24 109 235 98 
Total segment operating expenses76,250 64,291 154,325 128,799 
Segment operating income$19,752 $12,507 $34,648 $23,803 
Total Huron:
Revenues before reimbursable expenses$465,636 $402,505 $909,348 $798,195 
Reimbursable expenses9,406 9,250 17,461 17,701 
Total revenues $475,042 $411,755 $926,809 $815,896 
Segment operating income$127,070 $104,487 $233,497 $195,159 
Items not allocated at the segment level:
Unallocated corporate expenses 65,370 54,281 125,400 106,652 
Three Months Ended
June 30,
Six Months Ended
June 30,
2026202520262025
Other losses (gains)3,850 (71)7,690 (71)
Restructuring charges562 455 30 1,847 
Depreciation and amortization7,040 4,168 13,546 8,345 
Operating income50,248 45,654 86,831 78,386 
Other expense, net(7,340)(17,946)(16,857)(29,226)
Income before taxes$42,908 $27,708 $69,974 $49,160 
(1)Other segment items in each segment consists of restructuring charges for all periods presented.
The following tables illustrate the disaggregation of segment total revenues and segment revenues before reimbursable expenses (RBR) by our two principal capabilities: i) Consulting and Managed Services and ii) Digital, and includes a reconciliation to consolidated total revenues and consolidated RBR. We manage our business on the basis of RBR, which we believe is the most accurate reflection of our services because it eliminates the effect of reimbursable expenses that we bill to our clients at cost.
Three Months Ended
June 30,
Six Months Ended
June 30,
Total Revenues by Capability2026202520262025
Healthcare:
Consulting and Managed Services$177,837 $150,148 $352,981 $297,181 
Digital59,015 53,123 113,056 109,411 
Total revenues$236,852 $203,271 $466,037 $406,592 
Education:
Consulting and Managed Services$66,749 $68,351 $130,247 $133,009 
Digital75,439 63,335 141,552 123,693 
Total revenues$142,188 $131,686 $271,799 $256,702 
Commercial:
Consulting and Managed Services$36,405 $16,225 $73,907 $33,317 
Digital59,597 60,573 115,066 119,285 
Total revenues$96,002 $76,798 $188,973 $152,602 
Total Huron:
Consulting and Managed Services$280,991 $234,724 $557,135 $463,507 
Digital194,051 177,031 369,674 352,389 
Total revenues$475,042 $411,755 $926,809 $815,896 
Three Months Ended
June 30,
Six Months Ended
June 30,
Revenues before Reimbursable Expenses by Capability2026202520262025
Healthcare:
Consulting and Managed Services$174,450 $145,755 $346,641 $289,129 
Digital57,853 52,067 110,863 107,183 
Total revenues before reimbursable expenses$232,303 $197,822 $457,504 $396,312 
Education:
Consulting and Managed Services$65,585 $67,329 $128,045 $130,873 
Digital73,790 61,972 138,798 121,176 
Total revenues before reimbursable expenses$139,375 $129,301 $266,843 $252,049 
Commercial:
Consulting and Managed Services$35,886 $16,038 $72,852 $33,041 
Digital58,072 59,344 112,149 116,793 
Total revenues before reimbursable expenses$93,958 $75,382 $185,001 $149,834 
Total Huron:
Consulting and Managed Services$275,921 $229,122 $547,538 $453,043 
Digital189,715 173,383 361,810 345,152 
Total revenues before reimbursable expenses$465,636 $402,505 $909,348 $798,195 
For the three and six months ended June 30, 2026 and 2025, substantially all of our revenues were recognized over time. During the three and six months ended June 30, 2026 and 2025, no single client generated greater than 10% of our consolidated total revenues. At June 30, 2026 and December 31, 2025, no single client accounted for greater than 10% of our combined balance of receivables from clients, net and unbilled services, net.