Kforce Q2 revenue falls 7.8%, environment more stable
IT Staffing Report
Kforce Q2 revenue falls 7.8%, environment more stable

Main article
Second-quarter revenue fell 7.8% year over year at Kforce (NYSE: KFRC), a Tampa, Florida-based professional staffing firm focused on IT and finance and accounting. Total revenue was $356.3 million, with declines in technology and finance/accounting staffing of 6.9% and 23.5%, respectively. Still, Kforce noted revenue rose 1.3% sequentially from the first quarter and the operating environment appears more stable than in the previous year.
“Operating trends over the first half of 2024 and discussions with our clients indicate to us that the current operating environment continues to be more stable and constructive than it was throughout most of 2023,” Kforce President and CEO Joseph Liberatore said.
Demand for technology staffing — and clients’ interest in starting new projects — has held steady over the past three quarters, according to Liberatore.
Kforce revenue was above analysts’ average estimate of $356.1 million.
Kforce Inc. - Q2 2024
(US$ thousands) | Q2 2024 | Q2 2023 | % change |
Revenue | 356,318 | 389,190 | -8.4% |
Gross profit | 98,973 | 110,266 | -10.2% |
Gross margin percentage | 27.80% | 28.30% | - |
Net income | 14,157 | 18,574 | -23.8% |
Revenue by Function and Segment
(US$ thousands) | Q2 2024 | Q2 2023 | % change |
Total flex revenue | 348,784 | 378,470 | -7.8% |
Total direct-hire revenue | 7,534 | 10,720 | -29.7% |
Technology | |||
Technology flex revenue | 324,064 | 346,326 | -6.4% |
Technology direct-hire revenue | 3,810 | 5,699 | -33.1% |
Total technology revenue | 327,874 | 352,025 | -6.9% |
Finance & Accounting | |||
Finance & Accounting flex revenue | 24,720 | 32,144 | -23.1% |
Finance & Accounting direct-hire revenue | 3,724 | 5,021 | -25.8% |
Total Finance & Accounting revenue | 28,444 | 37,165 | -23.5% |
Guidance
Kforce forecast third-quarter revenue of between $347 million and $355 million, which represents a year-over-year decrease of between 4.9% and 7.0%. The third quarter will have 64 billing days, up from 63 in the third quarter of 2023.