Q4 2025 Barrett Business Services Inc Earnings Call Transcript

Feb 25, 2026 / 10:00 PM GMT

Release Date Price: $31.47 (+1.32%)

Transcript 10-K8-K

Key Points

Positve

Barrett Business Services Inc (BBSI) achieved a 5.1% increase in worksite employees for the quarter, driven by record sales volume and strong client retention.
Gross billings grew nearly 8.6% for the year, driven by 6.7% growth in average worksite employees.
The company successfully expanded into new geographies with its asset-light model, converting two emerging markets to traditional branches.
BBSI's strategic sales initiatives resulted in a 26% increase in active referral partners over the prior year.
The company earned the Great Place to Work designation for the fifth year in a row, reflecting strong employee satisfaction.

Negative

Client workforce reductions exceeded expectations, particularly impacting gross billings in California and the construction industry.
Staffing business declined by 13% over the prior year quarter and 11% for the year due to macroeconomic uncertainty.
Average billing per worksite employee per day increased only 1.5%, partially offset by lower average hours for worksite employees.
The Pacific Northwest region experienced a 4% decline in PEO gross billings, impacted by economic conditions.
Investment income decreased by approximately $200,000 in the fourth quarter due to lower average interest rates and investment balances.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BBSI.OQ - Barrett Business Services Inc
Q4 2025 Barrett Business Services Inc Earnings Call
Feb 25, 2026 / 10:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon, everyone, and thank you for participating in today's conference call to discuss BBSI's financial results for the 4th quarter and full year ended December 31, 2025.

Joining us today are BBSI's President and CEO Mr. Gary Kramer, and the company's CFO Mr. Anthony Harris. Following their remarks, we'll open the call for your questions.

Before we go further, please take note of the company's safe harbor statement within the meaning of the Private Securities Litigation Reform Act of 1,995. The statement provides important cautions regarding forward-looking statements. The company's remarks during today's conference call will include forward-looking statements. These statements, along with

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