HURNMEDIUM SIGNALFINANCIAL10-K

HURN significantly increased share buybacks by 35.5% to $166.7M while expanding operations globally and taking on more debt to fund growth initiatives.

The substantial increase in share buybacks combined with debt expansion signals aggressive capital deployment, reflected in the reduced share count from 17.7M to 16.9M shares outstanding. The company is leveraging its balance sheet to fund both growth investments and shareholder returns, which could enhance earnings per share but increases financial risk.

Comparing 2026-02-24 vs 2025-02-25View on EDGAR →
FINANCIAL ANALYSIS

HURN demonstrated strong operational growth with revenue increasing 11.7% to $1.7B and total assets expanding 13.6% to $1.5B, indicating successful business expansion. However, the company funded this growth and increased shareholder returns through higher leverage, with total debt rising 24.6% to $290M and current liabilities up 13.2%. The combination of accelerated share buybacks (+35.5%) and modest debt increase suggests management is optimizing capital structure while maintaining confidence in cash flow generation, though this strategy increases financial leverage and requires monitoring.

FINANCIAL STATEMENT CHANGES
Share Buybacks
Cash Flow
+35.5%
$123.0M→$166.7M

Share repurchases increased 35.5% — management returning capital, signals confidence in intrinsic value.

Total Debt
Balance Sheet
+24.6%
$232.8M→$290.0M

Debt rose 24.6% — additional borrowing for investment or operations; monitor coverage ratios.

Capital Expenditure
Cash Flow
+20.6%
$8.7M→$10.4M

Capex increased 20.6% — ongoing investment in capacity or infrastructure for future growth.

Total Assets
Balance Sheet
+13.6%
$1.3B→$1.5B

Asset base grew 13.6% — expansion through organic growth, acquisitions, or capital deployment.

Current Liabilities
Balance Sheet
+13.2%
$338.8M→$383.4M

Current liabilities rose 13.2% — increased short-term obligations, watch current ratio.

Cash & Equivalents
Balance Sheet
+11.9%
$21.9M→$24.5M

Cash grew 11.9% — improving liquidity position supports investment and shareholder returns.

Revenue
P&L
+11.7%
$1.5B→$1.7B

Revenue growing 11.7% — solid top-line momentum, watch margins for quality of growth.

SG&A Expense
P&L
+10.9%
$286.7M→$318.0M

SG&A increased modestly — likely reflects growth-related hiring or sales expansion investment.

LANGUAGE CHANGES
NEW — 2026-02-24
PRIOR — 2025-02-25
ADDED
As of February 17, 2026, 16,922,924 shares of the registrant s common stock, par value $0.01 per share, were outstanding.
The company disclaims any obligation to update or revise any forward-looking statements as a result of new information or future events, or for any other reason.
We are headquartered in Chicago, Illinois, with additional locations in the United States and abroad in Canada, France, India, Poland, Singapore, Switzerland and the United Kingdom.
Rapidly Growing Global Digital Capability: As data, technology and artificial intelligence ( AI ) evolve across industries, Huron s ability to provide a broad portfolio of digital offerings that support the strategic and operational needs of its clients globally is at the foundation of the Company s strategy.
Strong Balance Sheet and Cash Flows: A resilient, flexible balance sheet is the foundation of our financial strength, and strong free cash flows have and will continue to be the hallmark of Huron s business model.
The Company is committed to deploying capital in a strategic and balanced way, including returning capital to shareholders and executing strategic, tuck-in acquisitions while prudently managing our leverage ratio.
Operating Industries For the year ended December 31, 2025, we derived 50%, 30% and 20% of our consolidated revenues before reimbursable expenses from our Healthcare, Education and Commercial operating segments, respectively.
Our healthcare-focused consulting and managed services offerings include financial and operational performance improvement consulting, which spans revenue cycle, business operations and care delivery transformation; organizational transformation; revenue cycle managed services and outsourcing; financial and capital advisory consulting; and strategy and innovation consulting.
Our healthcare-focused digital services span technology and analytic-related services, including core systems of record, such as enterprise health record ( EHR ), enterprise resource planning ( ERP ), enterprise performance management ( EPM ), and customer relationship management ( CRM ) systems; data management, AI and automation; technology managed services; and payor core administration systems.
We also have a portfolio of software products we deliver to the healthcare industry.
REMOVED
As of February 18, 2025, 17,677,584 shares of the registrant s common stock, par value $0.01 per share, were outstanding.
We disclaim any obligation to update or revise any forward-looking statements as a result of new information or future events, or for any other reason.
We are headquartered in Chicago, Illinois, with additional locations in the United States and abroad in Canada, India, Singapore and Switzerland.
Rapidly Growing Global Digital Capability: As data and technology persist and evolve across industries, Huron s ability to provide a broad portfolio of digital offerings that support the strategic and operational needs of its clients is at the foundation of the Company s strategy.
We are committed to operating income margin expansion by growing the areas of the business that provide the most attractive returns, improving the operational efficiency of our delivery for clients, utilizing our global delivery platform in India, and scaling our selling, general, and administrative expenses as we grow.
The Company is committed to deploying capital in a strategic and balanced way, including returning capital to shareholders and executing strategic, tuck-in acquisitions.
Operating Industries For the year ended December 31, 2024, we derived 51%, 32% and 17% of our consolidated revenues before reimbursable expenses from our Healthcare, Education and Commercial operating segments, respectively.
Our Commercial professionals use their deep industry, functional and technical expertise to deliver our digital services and software products, financial and capital advisory (special situation advisory and corporate finance advisory) consulting services, and strategy and innovation consulting services.
In December 2024, we expanded our Commercial consulting and digital services offerings through the acquisition of AXIA Consulting, a leading provider of supply chain-focused consulting and technology solutions who has deep expertise in the industrials and manufacturing and retail sectors.
These services are often combined with technology, analytic and data-driven solutions powered by our Digital capability to support long-term relationships with our clients and drive lasting impact.
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