BARRETT BUSINESS SERVICES INC

Listed Company

BBSICIK 0000902791NasdaqLarge AcceleratedServices-Help Supply ServicesMarylandFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$54.45M

Total Assets

$779.07M

Equity

$241.00M

Shares Out

25.20M

Op. Cash Flow

$65.95M

Business

BARRETT BUSINESS SERVICES INC provides business management solutions to small and mid-sized companies through a decentralized, local delivery model that integrates management consulting and human resource outsourcing. It offers professional employer organization (PEO) services, staffing and recruiting, payroll and HR administration, workers’ compensation coverage and claims management, sponsored employee benefit programs, and a client-facing technology platform called myBBSI. The company reports operations in two service categories: PEO and Staffing, delivered by local business teams. Services are distributed through regional branch operations, direct business-to-business sales and referral networks.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	1,240	1,145	1,069	1,054	955
Total cost of revenues	979	891	827	819	751
Gross margin	261	253	243	235	205
Selling, general and administrative expenses	190	186	175	170	155
Depreciation and amortization	8	8	7	6	5
Income from operations	62	60	61	59	44
Investment income, net	9	11	9	6	7
Interest expense	−171,000	−178,000	−166,000	−141,000	—
Other, net	148,000	89,000	−139,000	−7,000	−105,000
Other income, net	9	11	8	6	7
Income before income taxes	71	71	69	65	51
Provision for income taxes	17	18	18	18	13
Net income	54	53	51	47	38
Basic income per common share	2.13	2.03	1.88	1.66	5.05
Weighted average number of basic common shares outstanding	26	26	27	29	8
Diluted income per common share	2.08	1.98	1.85	1.64	5
Weighted average number of diluted common shares outstanding	26	27	27	29	8

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	95	55	71	91	69
Investments	62	66	81	—	—
Trade accounts receivable, net	249	235	171	164	156
Income taxes receivable	3	3	8	—	—
Prepaid expenses and other	19	19	18	20	18
Restricted cash and investments	97	98	97	111	67
Total current assets	525	475	448	454	407
Property, equipment and software, net	67	57	50	46	36
Operating lease right-of-use assets	23	20	20	20	21
Restricted cash and investments	106	134	146	104	233
Goodwill	48	48	48	48	48
Other assets	10	6	6	3	2
Deferred income taxes	74,000	4	4	11	—
Total assets	779	746	722	687	747
Accounts payable	7	7	7	8	4
Accrued payroll and related benefits	238	216	161	—	—
Payroll taxes payable	62	50	73	610,000	2
Current operating lease liabilities	7	6	7	7	7
Current premium payable	39	31	35	19	—
Other accrued liabilities	19	10	11	13	15
Workers' compensation claims liabilities	33	39	50	63	80
Total current liabilities	406	359	343	335	315
Long-term workers' compensation claims liabilities	76	89	118	153	199
Long-term premium payable	26	50	38	—	—
Long-term operating lease liabilities	17	15	15	14	15
Customer deposits and other long-term liabilities	13	11	9	7	7
Total liabilities	538	524	522	509	538
Commitments and contingencies (Notes 5, 7 and 11)	—	—	—	—	—
Common stock, $.01 par value; 82,000 shares authorized, 25,179 and 25,784 shares issued and outstanding in 2025 and 2024, respectively	252,000	258,000	263,000	69,000	74,000
Additional paid-in capital	46	40	37	33	29
Accumulated other comprehensive loss	−11	−19	−21	−28	1
Retained earnings	206	200	183	173	178
Total stockholders' equity	241	221	199	178	209
Total liabilities and stockholders' equity	779	746	722	687	747

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Non-cash operating lease expense	7	6	7	7	8
Investment amortization (accretion) and losses (gains) recognized	407,000	−221,000	1	2	1
Losses recognized on disposal of property and equipment	72,000	65,000	256,000	139,000	114,000
Deferred income taxes	1	−854,000	5	−2	−347,000
Share-based compensation	10	9	8	7	5
Trade accounts receivable	−14	−63	−8	−8	−37
Income taxes	−303,000	5	−9	−1	8
Prepaid expenses and other	46,000	−255,000	1	−2	−2
Accounts payable	646,000	194,000	−2	4	−261,000
Accrued payroll and related benefits	23	55	6	12	50
Payroll taxes payable	13	−23	7	13	—
Other accrued liabilities	9	−736,000	−4	1	25,000
Premium payable	−16	8	54	12	8
Workers' compensation claims liabilities	−24	−39	−51	−64	−78
Operating lease liabilities	−7	−7	−7	−7	−8
Other assets and liabilities, net	−139,000	218,000	−160,000	298,000	13,000
Net cash provided by operating activities	66	10	67	28	−15
Purchase of property, equipment and software	−19	−14	−12	−16	−7
Proceeds from sale of property and equipment	—	8,000	120,000	—	—
Purchase of investments	−8	−8	−4	—	−55
Proceeds from sales and maturities of investments	16	23	10	19	75
Purchase of restricted investments	−36	−30	−67	−4	−254
Proceeds from sales and maturities of restricted investments	78	67	17	63	127
Net cash provided by (used in) investing activities	31	39	−55	61	−113
Proceeds from credit-line borrowings	5	415,000	12	—	3
Payments on credit-line borrowings	−5	−415,000	−12	—	−3
Repurchase of common stock	−42	−29	−34	−47	−17
Common stock repurchased on vesting of restricted stock units and performance awards	−6	−5	−3	−2	−1
Dividends paid	−8	−8	−8	−9	−9
Proceeds from exercise of stock options and purchase of ESPP	3	931,000	702,000	711,000	1
Net cash used in financing activities	−53	−41	−45	−60	−27
Net increase (decrease) in cash, cash equivalents and restricted cash	44	8	−33	29	−155

Filings

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