Huron Consulting Group Inc. reported strong fourth-quarter and full-year 2025 results, characterized by double-digit revenue growth driven by acquisitions and organic expansion, alongside significant improvements in adjusted EBITDA and adjusted diluted earnings per share. The company's strategic focus on deep client relationships, advanced technology expertise, and a balanced portfolio of offerings positions it well for continued growth opportunities in its key end markets.
Revenues before reimbursable expenses increased 11.3% to $432.3 million in Q4 2025, driven by strong demand in Healthcare and Commercial segments.
positiveFull year 2025 revenues before reimbursable expenses grew 11.9% to a record $1.66 billion.
positiveAdjusted EBITDA increased 19.7% to $68.0 million in Q4 2025 and 18.1% to $237.5 million for full year 2025.
positiveAdjusted diluted earnings per share increased 14.2% to $2.17 in Q4 2025 and 21.0% to $7.83 for full year 2025.
positiveThe number of revenue-generating professionals increased 13.1% year-over-year, supported by acquisitions and hiring.
positiveUtilization rates for Consulting and Digital capabilities improved year-over-year.
positiveNet income decreased to $30.7 million in Q4 2025 from $34.0 million in Q4 2024, impacted by $2.2 million in contingent consideration remeasurement charges.
attentionNet income for full year 2025 decreased to $105.0 million from $116.6 million in 2024, impacted by $7.7 million in non-cash impairment charges related to a convertible debt investment.
attentionDiluted earnings per share decreased to $1.72 in Q4 2025 from $1.84 in Q4 2024, with an unfavorable $0.13 impact from contingent consideration remeasurement charges.
attentionDiluted earnings per share for full year 2025 decreased to $5.84 from $6.27 in 2024, with an unfavorable $0.43 impact from impairment charges.
attentionRevenues before reimbursable expenses in the Healthcare segment's Digital capability decreased.
attentionOrganic revenue growth (excluding acquisitions and divested businesses) was 5.2% in Q4 2025, down from 10.2% in Q3 2025 and 16.8% in Q4 2024.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Healthcare | N/A | — | — | — |
Education | N/A | — | — | — |
Commercial | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
We finished 2025 with strong fourth-quarter results. Revenues before reimbursable expenses (RBR) grew 11% in the fourth quarter of 2025, driven by record RBR in the healthcare and commercial segments. We also continued our trajectory of margin expansion in the quarter.
Full year RBR grew 12% over 2024, resulting in record RBR and a fifth consecutive year of growth. We are pleased with our continued margin and earnings per share expansion in 2025, including achieving adjusted diluted earnings per share growth of 21% over 2024.
Our market-tested strategy, balanced portfolio of offerings, and strong execution by our highly talented team has delivered strong multi-year financial performance for our business and our shareholders consistent with the financial goals outlined at our investor day.
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Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.