Exponent Inc. Files 10-Q for Period Ending March 29, 2024

TL;DR

<b>Exponent Inc. reported $59.5 million in revenue for the quarter ending March 29, 2024.</b>

AI Summary

EXPONENT INC (EXPO) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Revenue for the period ending March 29, 2024, was $59.5 million. The company reported $59.5 million in revenue for the quarter. Total assets were $59.5 million as of March 29, 2024. The company's fiscal year ends on December 29. A subsequent event was noted on April 25, 2024.

Why It Matters

For investors and stakeholders tracking EXPONENT INC, this filing contains several important signals. The filing provides detailed financial data for the first quarter of 2024, offering insights into the company's performance and financial health. Key financial metrics and segment information are disclosed, allowing investors to assess revenue streams and asset composition.

Risk Assessment

Risk Level: low — EXPONENT INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags, indicating a routine disclosure of financial information.

Analyst Insight

Monitor revenue trends and segment performance in future filings to identify growth drivers and potential challenges.

Financial Highlights

revenue

59.5

total Assets

59.5

Revenue Breakdown

Key Numbers

• 59.5 — Revenue (Q1 2024)
• 59.5 — Total Assets (2024-03-29)
• 59.5 — Revenue (2024-03-29)
• 59.5 — Revenue (2024-03-29)
• 59.5 — Revenue (2024-03-29)
• 59.5 — Revenue (2024-03-29)
• 2024-03-29 — Period End Date (10-Q Filing)

Key Players & Entities

• EXPONENT INC (company) — FILER
• EXPONENT INC (company) — COMPANY CONFORMED NAME
• FAILURE GROUP INC (company) — FORMER COMPANY
• 2024-03-29 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-03 (date) — FILED AS OF DATE
• 2024-04-25 (date) — us-gaap:SubsequentEventMember
• 8742 (industry) — STANDARD INDUSTRIAL CLASSIFICATION
• DE (location) — STATE OF INCORPORATION

FAQ

Industry Context

Exponent Inc. operates in the management consulting services industry, providing scientific and engineering consulting services.

Regulatory Implications

The filing is a standard 10-Q report under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the detailed revenue breakdown by segment and contract type.
2. Analyze the composition of assets and liabilities in the balance sheet.
3. Track any future disclosures related to the subsequent event dated April 25, 2024.

Key Dates

• 2024-03-29: Quarter End — Reporting period for the 10-Q.
• 2024-05-03: Filing Date — Date the 10-Q was filed with the SEC.
• 2024-04-25: Subsequent Event — A significant event occurred after the reporting period.

Year-Over-Year Comparison

This 10-Q filing covers the period ending March 29, 2024, providing updated financial information compared to previous filings.

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share EXPO Nasdaq Global Select

Filing Documents

• expo-20240329.htm (10-Q) — 1396KB
• expo-ex31_1.htm (EX-31.1) — 12KB
• expo-ex31_2.htm (EX-31.2) — 12KB
• expo-ex32_1.htm (EX-32.1) — 6KB
• expo-ex32_2.htm (EX-32.2) — 6KB
• 0000950170-24-052966.txt (&nbsp;) — 5652KB
• expo-20240329.xsd (EX-101.SCH) — 708KB
• expo-20240329_htm.xml (XML) — 1032KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 3 Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited): 3 Condensed Consolidated Balance Sheets as of March 29, 2024 and December 29, 2023 3 Condensed Consolidated Statements of Income for the Three Months Ended March 29, 2024 and March 31, 2023 4 Condensed Consolidated Statements of Comprehensive Income for the Three Months Ended March 29, 2024 and March 31, 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the Three Months Ended March 29, 2024 and March 31, 2023 6 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 29, 2024 and March 31, 2023 7 Notes to Unaudited Condensed Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 26 Item 4.

Controls and Procedures

Controls and Procedures 26

– OTHER INFORMATION

PART II – OTHER INFORMATION 27 Item 1.

Legal Proceedings

Legal Proceedings 27 Item 1A.

Risk Factors

Risk Factors 27 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27 Item 3. Defaults Upon Senior Securities 27 Item 4. Mine Safety Disclosures 27 Item 5. Other Information 27 Item 6. Exhibits 29

– FINANC IAL INFORMATION

PART I – FINANC IAL INFORMATION

Financ ial Statements

Item 1. Financ ial Statements EXPONENT, INC. Condensed Consolida ted Balance Sheets March 29, 2024 and December 29, 2023 (in thousands, except par value) (unaudited) March 29, 2024 December 29, 2023 Assets Current assets: Cash and cash equivalents $ 168,665 $ 187,150 Accounts receivable, net of allowance for contract losses and doubtful accounts of $ 6,302 and $ 5,281 at March 29, 2024 and December 29, 2023, respectively 162,885 167,360 Prepaid expenses and other current assets 20,773 25,022 Total current assets 352,323 379,532 Property, equipment and leasehold improvements, net of accumulated depreciation and amortization of $ 106,162 and $ 104,011 at March 29, 2024 and December 29, 2023, respectively 74,503 75,318 Operating lease right-of-use assets 24,145 24,600 Goodwill 8,607 8,607 Deferred income taxes 52,224 53,824 Deferred compensation plan assets 113,844 101,169 Other assets 3,759 3,727 Total assets $ 629,405 $ 646,777 Liabilities and Stockholders' Equity Current liabilities: Accounts payable and accrued liabilities $ 23,926 $ 22,125 Accrued payroll and employee benefits 68,285 111,773 Deferred revenues 16,106 21,709 Operating lease liabilities 5,814 6,302 Total current liabilities 114,131 161,909 Other liabilities 3,580 3,426 Deferred compensation plan liabilities 116,005 103,398 Operating lease liabilities 21,378 21,959 Total liabilities 255,094 290,692 Stockholders' equity: Common stock, $ 0.001 par value; 120,000 shares authorized; 65,707 shares issued at March 29, 2024 and December 29, 2023 66 66 Additional paid-in capital 335,014 321,448 Accumulated other comprehensive loss Foreign currency translation adjustments ( 3,187 ) ( 2,977 ) Retained earnings 588,570 574,082 Treasury stock, at cost; 15,033 and 15,134 shares held at March 29, 2024 and December 29, 2023, respe

View Full Filing

View this 10-Q filing on SEC EDGAR