Strong Revenue Growth from Gen AI Engagements
The company reported revenues before reimbursements of $77.6 million and adjusted earnings per share of $0.38, attributed to the strong performance of the GSBT segment, especially driven by Gen AI-related engagements. Gen AI engagements led to a 5% increase in GSBT revenues, with a 10% increase excluding the OneStream practice.
Innovative Platform Developments
Significant enhancements to AI XPLR and ZBrain Gen AI platforms were highlighted as breakthroughs, along with a strategic partnership with Celonis to integrate process intelligence, creating new channel expansion opportunities.
SAP Solutions Segment Growth
SAP Solutions segment revenues increased by 11% compared to the previous year, driven by implementation services related to recent software sales.
Stock Buyback and Dividend Declaration
The company repurchased 180,000 shares for $4.4 million and increased the stock repurchase authorization to $30 million. A third quarter dividend of $0.12 per share was declared.