DHI Group revenue rises 13%, Dice segment returns to growth

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November 11, 2021

DHI Group Inc. (NYSE: DHX) reported third-quarter revenue rose 13.3% year over year. Growth occurred in both its ClearanceJobs division, which focuses on jobs that require federal security clearances, and its Dice segment, which returned to growth for the first time in several years.

Total bookings were up 40% year over year to $30.8 million.

“Dice bookings grew 46% year over year,” DHI President and CEO Art Zeile said. “Our revenue renewal rate for Dice continued to strengthen in the third quarter and came in at 92%, up from 89% in the prior quarter and up from 68% in the year ago quarter.”

Zeile continued, “similarly, ClearanceJobs performed extremely well with revenue and bookings growth of 16% and 29%, respectively, and a 94% revenue renewal rate.”

DHI reported a goodwill impairment charge of $22.6 million in Q3 2020; it also recorded an $8.0 million impairment of intangible assets in the year-ago quarter.

(US$ thousands) Q3 2021 Q3 2020 % change
Revenue $30,758 $27,149 13.3%
Net loss ($2,434) ($27,322) nm

During the second quarter 2021, the company completed the spinoff of its eFinancialCareers business to the segment’s management team, and results from that business are reported as discontinued operations.

Revenue by segment

(US$ thousands) Q3 2021 Q3 2020 % change
Dice   $22,272 $19,823 12.4%
ClearanceJobs $8,486 $7,326 15.8%

“With our continued strong bookings performance we expect total revenue growth in the fourth quarter that is approaching 20% year over year,” CFO Kevin Bostick said.

Share price and market cap

Shares in DHI Group were up 10.73% to $5.47 as of 11:44 a.m. Eastern time today; shares set a new 52-week high during today’s trading session when they reached $5.60, according to FT.com. The company had a market cap of $248.18 million.

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