Exponent reported third‑quarter fiscal 2025 revenue of $147.1 million, an 8 % year‑over‑year increase, and revenue before reimbursements of $137.1 million, up 10 % from $125.1 million in the same quarter of 2024. Net income rose to $28.0 million, or $0.55 per diluted share, compared with $26.0 million and $0.50 per share in Q3 2024. EBITDA reached $38.8 million, representing 28.3 % of revenue before reimbursements, slightly lower than the 28.6 % margin recorded in the prior year.
The engineering and other scientific segment accounted for 84 % of revenue before reimbursements and grew 10 % year‑over‑year, driven by strong demand in energy, automotive, medical device, and utilities. The environmental and health segment, 16 % of revenue, grew 2 % year‑over‑year, supported by increased regulatory consulting in the chemical industry.
Prior‑period figures show that Q3 FY2024 revenue before reimbursements was $125.1 million, total revenue was $136.3 million, net income was $26.0 million, and EPS was $0.50. EBITDA margin in that quarter was 28.6 %. Exponent’s fiscal year 2025 is a 52‑week year, whereas fiscal 2024 benefited from a 53‑week year, creating a headwind for year‑over‑year comparisons.
The slight decline in EBITDA margin was primarily due to the cost associated with a September manager meeting, which was partially offset by better utilization and a strong realized rate increase.
Exponent maintained its full‑year revenue guidance and raised its margin guidance. The company also announced a quarterly cash dividend of $0.30 per share, payable on December 19 2025, and increased its share‑repurchase authorization by $100 million. Management highlighted the company’s strategic investment in artificial‑intelligence integration and the expansion of headcount to support growth in its multidisciplinary consulting services, positioning Exponent to benefit from increasing industry complexity and regulatory scrutiny.
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