Insperity, Inc. reported a net loss of $9 million and diluted EPS of $(0.22) for the fourth quarter of 2024. Adjusted EBITDA for Q4 2024 was $23 million, with adjusted EPS at $0.05. Revenues for the quarter increased 2% to $1.6 billion, driven by a 4% increase in revenue per worksite employee (WSEE) on higher pricing, despite a 2% decrease in average paid WSEEs from Q4 2023.
For the full year 2024, Insperity's revenues increased 1% to $6.6 billion, with gross profit up 1% to $1.052 billion. The company reported full-year net income of $91 million and diluted EPS of $2.42. Adjusted EBITDA for 2024 reached $270 million, with adjusted EPS at $3.58, exceeding the midpoint of its initial adjusted EBITDA guidance.
Insperity provided its initial guidance for 2025, forecasting Q1 2025 adjusted EPS between $1.89 and $2.15, representing a 17% to 5% year-over-year decrease. Full-year 2025 adjusted EPS is projected to be between $3.10 and $3.95, a decrease of 13% to 10% year-over-year. The company's operating expenses in 2024 included approximately $57 million related to the Workday strategic partnership, with a planned increase to $62 million in 2025 to enhance its growth trajectory in 2026 and beyond.
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