RESOURCES CONNECTION, INC.

Listed Company

RGPCIK 0001084765NasdaqAcceleratedServices-Business Services, NecDelawareFY ends May 31

Period

FY 2025

Revenue

$551.33M

Net Income

$-191.78M

Total Assets

$304.69M

Equity

$207.08M

Shares Out

34.33M

Op. Cash Flow

$18.90M

Business

RESOURCES CONNECTION, INC. operates through its Resources Global Professionals (RGP) professional services business that delivers flexible, project-based and outsourced human capital solutions to help clients address business and technology transformation, strategic transactions, and regulatory compliance. It offers on-demand resourcing, strategic and execution consulting, fully outsourced finance, accounting and HR services (Countsy by RGP), and crisis communications through Sitrick. The company organizes operations into On‑Demand Talent, Consulting, Europe & Asia Pacific, Outsourced Services, and an "All Other" category for Sitrick. It serves a global client base via local offices, virtual delivery, strategic client account teams, and global delivery centers.

Summary from filing dated 2025-07-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-05-31	FY 2024 2024-05-31	FY 2023 2023-05-31	FY 2022 2022-05-31	FY 2021 2021-05-31
Revenue	551	633	776	805	630
Direct cost of services	344	387	463	488	388
Gross profit	207	246	313	317	241
Selling, general and administrative expenses	202	209	229	225	209
Goodwill impairment	194	0	3	0	—
Amortization expense	6	5	5	5	5
Depreciation expense	2	3	4	4	4
Income (loss) from operations	−197	29	73	83	23
Interest (income) expense, net	−544,000	−1	552,000	1	—
Other (income) expense	−138,000	11,000	−382,000	−594,000	—
Income (loss) before income tax (benefit) expense	−196	30	73	83	23
Income Tax Expense (Benefit)	−4	9	18	16	−3
Net income (loss)	−192	21	54	67	25
Basic (in dollars per share)	−5.8	0.63	1.63	2.04	0.78
Diluted (in dollars per share)	−5.8	0.62	1.59	2	0.78
Basic (shares)	33	33	33	33	32
Diluted (shares)	33	34	34	34	33
Cash dividends declared per common share (in dollars per share)	0.49	0.56	0.56	0.56	0.56

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-05-31	FY 2024 2024-05-31	FY 2023 2023-05-31	FY 2022 2022-05-31	FY 2021 2021-05-31
Cash and cash equivalents	86	109	117	104	74
Trade accounts receivable, net of allowances of $2,603 and $2,755 as of May 31, 2025 and May 25, 2024, respectively	99	109	137	153	116
Prepaid expenses and other current assets	10	7	5	6	7
Assets held for sale	0	9	0	—	—
Income taxes receivable	8	8	5	35	37
Total current assets	204	241	264	309	235
Goodwill	29	217	207	210	217
Intangible assets, net	19	10	12	16	20
Property and equipment, net	4	4	15	18	21
Operating right-of-use assets	23	12	16	18	25
Deferred tax assets	9	11	11	8	2
Other non-current assets	17	17	8	4	1
Total assets	305	511	532	581	521
Accounts payable and other accrued expenses	14	15	14	14	16
Accrued salaries and related obligations	48	42	65	84	56
Operating lease liabilities, current	5	5	7	8	10
Other liabilities	8	10	10	15	12
Total current liabilities	75	72	97	124	101
Long-term debt	0	0	0	54	43
Operating lease liabilities, non-current	20	9	10	13	21
Deferred tax liabilities	92,000	9	7	14	18
Other non-current liabilities	2	2	3	3	8
Total liabilities	98	92	117	209	191
Commitments and contingencies (Note 17)	—	—	—	—	—
Preferred stock, $0.01 par value, 5,000 shares authorized; zero shares issued and outstanding	0	0	0	—	—
Common stock, $0.01 par value, 70,000 shares authorized; 37,027 and 36,194 shares issued, and 33,075 and 33,556 shares outstanding as of May 31, 2025 and May 25, 2024, respectively	370,000	363,000	355,000	344,000	646,000
Additional paid-in capital	400	390	379	356	490
Accumulated other comprehensive loss	−18	−18	−17	−16	−7
Retained earnings (Accumulated deficit)	−122	89	88	53	367
Treasury stock at cost, 3,952 and 2,638 shares as of May 31, 2025 and May 25, 2024, respectively	−54	−42	−35	—	—
Total stockholders equity	207	419	415	372	330
Total liabilities and stockholders equity	305	511	532	581	521

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-05-31	FY 2024 2024-05-31	FY 2023 2023-05-31	FY 2022 2022-05-31	FY 2021 2021-05-31
Depreciation and amortization expense	8	8	9	8	9
Stock-based compensation expense	7	6	10	8	7
Contingent consideration adjustment	0	−4	0	166,000	5
Loss on dissolution of subsidiaries	0	0	220,000	−884,000	—
(Gain) loss on sale of assets	−4	574,000	38,000	—	—
Adjustment to allowances	1	137,000	1	557,000	−55,000
Deferred income taxes	−6	440,000	−10	−11	12
Other, net	612,000	336,000	−268,000	1	587,000
Trade accounts receivable	10	30	14	−45	11
Prepaid expenses and other current assets	−4	−766,000	294,000	916,000	−868,000
Income taxes	−545,000	−3	30	2	−33
Other assets	−83,000	−10	−4	−393,000	513,000
Accounts payable and other accrued expenses	−1	305,000	2	1	−704,000
Accrued salaries and related obligations	3	−25	−22	22	2
Other liabilities	2	−2	−5	−5	622,000
Net cash provided by operating activities	19	22	82	49	40
Proceeds from sale of taskforce	0	0	6	0	—
Net proceeds from the sale of assets	12	0	2,000	0	3,000
Acquisition of Reference Point, net of cash acquired	−23	0	0	0	—
Acquisition of CloudGo, net of cash acquired	0	−7	0	—	—
Investments in property and equipment and internal-use software	−3	−1	−2	−3	−4
Net cash (used in) provided by investing activities	−14	−9	4	−3	−4
Proceeds from exercise of stock options	0	465,000	10	13	2
Proceeds from issuance of common stock under Employee Stock Purchase Plan	4	6	6	5	5
Repurchase of common stock	−13	−8	−15	−20	—
Proceeds from Revolving Credit Facility	0	0	15	73	—
Repayments on Revolving Credit Facility	0	0	−69	−63	−45
Payment of cash dividends	−19	−19	−19	−19	−18
Net cash used in financing activities	−28	−21	−72	−13	−59
Effect of exchange rate changes on cash	−342,000	−548,000	−1	−3	2
Net (decrease) increase in cash	−23	−8	13	30	−21
Income taxes paid (refund), net	2	11	−3	25	18
Interest paid	354,000	352,000	962,000	1	2
Capitalized leasehold improvements paid directly by landlord	1	0	0	7,000	121,000

Filings

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