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Insperity

Insperity (NSP) Q3 2025 Earnings

Reported Nov 3, 2025 at 4:45 PM ET · SEC Source

Q3 25 EPS

$-0.20

MISS 190.09%

Est. $0.22

Q3 25 Revenue

$1.62B

MISS 0.55%

Est. $1.63B

vs S&P Since Q3 25

+35.5%

BEATING MARKET

NSP +45.8% vs S&P +10.3%

Market Reaction

Did NSP Beat Earnings? Q3 2025 Results

Insperity delivered a bruising third quarter, posting an adjusted loss of $0.20 per share against a consensus estimate of $0.22, missing by 190.09% as surging healthcare benefit costs overwhelmed modest top-line growth. Revenue rose 4.0% year-over-ye… Read more Insperity delivered a bruising third quarter, posting an adjusted loss of $0.20 per share against a consensus estimate of $0.22, missing by 190.09% as surging healthcare benefit costs overwhelmed modest top-line growth. Revenue rose 4.0% year-over-year to $1.62 billion, just shy of the $1.63 billion analysts had expected, with average paid worksite employees climbing 1% to 312,842. The core problem was an acute spike in inpatient, outpatient, pharmacy, and large-claim costs that drove gross profit down 15% to $195.00 million, widening the operating loss to $25.00 million from a slim $1.00 million gain a year ago. The brightest development of the quarter was a multi-year contract extension with UnitedHealthcare through 2028, which management said would meaningfully reduce costs and lower the large-claim pooling threshold to $500,000 beginning January 2026, substantially improving the forward outlook. Full-year 2025 adjusted EPS guidance of $0.84 to $1.47 reflects persistent near-term pressure, with Q4 expected to produce another adjusted loss, before the new UHC structure and the freshly launched HRScale offering with Workday can take effect.

Key Takeaways

  • • Revenue growth of 4% driven by 3% increase in revenue per WSEE on higher pricing and 1% increase in paid WSEEs
  • • Gross profit declined 15% due to higher-than-expected healthcare benefits costs including elevated inpatient, outpatient, pharmacy trends, and large claim frequency
  • • Operating expenses decreased 4% partly due to reduced Workday partnership spending ($11M vs $19M in Q3 2024)
  • • General and administrative expenses declined 15% year-over-year
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NSP YoY Financials

Q3 2025 vs Q3 2024, source: SEC Filings

“We are actively working to position Insperity for sustainable profitability at normal historical levels as we execute on our plan in response to unexpected, elevated healthcare cost trend. We are simultaneously taking assertive actions, including through the new contract with UnitedHealthcare, and will continue to focus on attracting and retaining the right clients at the right price and prudently managing expenses.”

— Paul J. Sarvadi, Q3 2025 Earnings Press Release

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