Record Quarterly Revenue
Revenue increased 10.5% year-over-year to $201.0 million, the highest quarterly revenue in company history, surpassing the prior record set in Q4 FY2025.
Broad-Based Practice Growth
Eight practices grew year-over-year; Energy, Finance, Forensic Services and Life Sciences each posted double-digit revenue growth. Antitrust & Competition Economics delivered a record quarter and posted a new high for quarterly revenue.
Geographic Strength — International Outperformance
North American revenue grew 8.5% year-over-year while international revenue expanded 20.3% year-over-year, contributing meaningfully to overall growth.
Strong Profitability and EBITDA
Generated $23.2 million of non-GAAP EBITDA, equal to 11.5% of revenue (Q1 FY2026). Management notes underlying profitability remains strong after adjusting for one-time and noncash items.
Consultant Capacity and Utilization Improvement
Consultant headcount increased 2.5% year-over-year to 971 (from 947) and utilization improved to 77%, with management targeting the upper-70s utilization range going forward.
Record Sales Pipeline and Project Origination
Average weekly project lead flow and new project originations set quarterly records and posted double-digit growth relative to Q1 FY2025, supporting ongoing revenue momentum.
Capital Deployment and Shareholder Returns
Returned $25.3 million to shareholders in the quarter (dividends $3.8M; share repurchases $21.5M for ~116,000 shares) while investing $62.3 million in talent (senior hires, performance awards, retention).
Liquidity and Credit Flexibility
Total liquidity of $86.7 million (cash $32.5M and $54.2M available revolver capacity). Company increased its revolving credit facility by $50 million to $300 million to support growth and working capital needs.