Record Fee Revenue Growth
Fee revenue increased 4% year over year at constant currency, demonstrating the strength of Korn Ferry's business strategy in a challenging economic environment.
Executive Search Growth
Executive search grew for the fourth consecutive quarter, up 15% year over year at constant currency, indicating strong demand for leadership talent.
Significant Digital Business Growth
Digital subscription and license new business grew to 40% of the total digital new business, up from 37% in the prior year quarter, adding more stability and predictability to the fee revenue base.
Strong Adjusted EBITDA and Margin Increase
Adjusted EBITDA grew 8% to $121 million, with the adjusted EBITDA margin increasing by 70 basis points to 17%.
Robust Marquee and Diamond Accounts
Marquee and Diamond accounts remained strong, contributing 39% to consolidated fee revenue, highlighting the company's success with large, repeatable clients.
Continued Dividend Increases
Korn Ferry has raised its dividend six times in five years, reflecting a strong commitment to returning value to shareholders.
New Operating Metric for Future Revenue
The introduction of the 'Estimated Remaining Fees Under Existing Contracts' metric, totaling approximately $1.7 billion, up 12% year over year, demonstrates the effectiveness of Korn Ferry's diversification strategy.