BBSI delivered a strong start to the year with revenues up 10% to $292.6 million and gross billings up 9% to $2.09 billion. The company reported a net loss of $1.0 million, or $(0.04) per diluted share, which was attributed to seasonality in payroll tax expense.
Revenues increased 10% to $292.6 million in Q1 2025 compared to $265.8 million in Q1 2024.
Gross billings grew 9% to $2.09 billion in Q1 2025, up from $1.91 billion in Q1 2024.
The company reported a net loss of $1.0 million, or $(0.04) per diluted share, in Q1 2025.
Workers' compensation expense as a percent of gross billings improved to 2.4% in Q1 2025 from 2.6% in Q1 2024.
BBSI expects continued growth in gross billings and average WSEs for 2025, with a stable gross margin and effective annual tax rate.
Visualization of income flow from segment revenue to net income
Analyze how earnings announcements historically affect stock price performance