New York, November 05, 2024 - PRISM MarketView - The IP platform-based, Gen AI consulting and advisory firm The Hackett Group (HCKT) reported its 3Q financial results. The company beat on EPS ($0.43 ex-items vs FactSet $0.40) and revenues ($79.8M vs FactSet $75.2M) in addition to raising Q4 guidance.
During the company’s Q&A management discussed the significant improvements in the AI XPLR platform version 2.0, which has led to higher conversion rates and more meaningful opportunities with clients. The integration of LeewayHertz’s capabilities has been a key driver of this. Additionally, Hackett expects a significant increase in client budgets and investments in Gen AI initiatives in 2025, which it believes will be a generational opportunity for the company. The company is still seeing strong performance from its Oracle and SAP solutions segments. Hackett also discussed the weakness seen in the eProcurement group which has offset the growth in Gen AI consulting, leading to a flat performance in the Global S&BT segment. However, this negative impact is expected to go away by the end of Q1 2025.
“We continued to report solid operating results that exceeded our revenue and earnings per share guidance. More importantly, we released AI XPLR version 2 and closed the acquisition of LeewayHertz, a highly recognized Gen AI consulting and implementation firm. We have now created an end-to-end Gen AI consulting and implementation capability to fully support our clients Gen AI journey, which should significantly improve growth prospects in this rapidly emerging area.”
Ted A. Fernandez, Chairman & CEO of The Hackett Group, Inc.
About PRISM MarketView:
Established in 2020, PRISM MarketView is dedicated to the monitoring and analysis of small cap stocks in burgeoning sectors. We deliver up-to-the-minute financial market news, provide comprehensive investor tools and foster a dynamic investor community. Central to our offerings are proprietary indexes that observe emerging sectors, including biotech, clean energy, next-generation tech, medical devices and beyond. Visit us at prismmarketview.com and follow us on X.
Disclaimer:
PRISM MarketView is not a registered or licensed broker-dealer or investment adviser and does not offer investment advice. The information provided in this communication is not intended to constitute an offer to sell, a solicitation of an offer to buy, or a recommendation for any security.
Contact:
Prism MarketView | Stock Market News & Investment Opportunities