Exponent
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Exponent (EXPO) investor relations material

Exponent Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary5 Feb, 2026

Executive summary

  • Achieved strong Q4 and FY2025 results, driven by diversified growth in proactive and reactive engagements across consumer electronics, utilities, energy, transportation, and life sciences.

  • Over 50 years of multidisciplinary consulting expertise, serving diverse industries with a focus on technical excellence and objectivity.

  • Proactive services saw increased demand for user research, especially in AI-enabled consumer electronics and risk management for utilities.

  • Reactive services grew due to failure analysis and dispute-related work in sectors like energy, construction, and transportation.

  • Positioned to benefit from trends in safety, health, sustainability, and the proliferation of AI and advanced technologies.

Financial highlights

  • FY2025 total revenues grew 4.2% to $582.0M; revenues before reimbursements up 3.5% to $536.8M.

  • Q4 2025 total revenues rose 8% to $147.4M; net revenues up 5% to $129.4M year-over-year, with one less week in the quarter.

  • FY2025 net income was $106.0M ($2.07/diluted share), down 3% year-over-year.

  • FY2025 EBITDA was $148.1M (27.6% margin); Q4 2025 EBITDA was $34.7M (26.8% margin).

  • Cash and equivalents at year-end: $221.9M.

Outlook and guidance

  • FY2026 revenues before reimbursements expected to grow high single digits year-over-year; EBITDA margin guidance of 27.6%-28.1%.

  • Technical FTEs expected to increase 4%-5% in 2026; utilization targeted at 72.5%-73%.

  • Realized rate increase for 2026 expected at 3%-3.5%.

  • Capital expenditures for 2026 expected at $12M-$14M; tax rate for 2026 expected at 28.5%.

  • Management confident in long-term growth trajectory, citing strong market drivers and proven operating model.

How does AI enhance Exponent's unique value proposition?
What factors support 2026 margin stability?
Detail specific drivers for 2026 growth areas?
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Frequently asked questions

Exponent Inc. is a multidisciplinary engineering and scientific consulting firm. The company offers analysis, research, and testing services in fields such as mechanical engineering, materials science, health, and environmental science, primarily to corporations, insurance firms, and government agencies. It is headquartered in Menlo Park, California, and its shares are listed on the NASDAQ.

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