The following is a summary of the The Hackett Group, Inc. (HCKT) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Hackett Group reported Q2 2024 revenues of $77.7 million, above the high-end of their guidance, with adjusted earnings per share at $0.39.

• The Global Strategy and Business Transformation segment decreased by 3% compared to last year, influenced by economic headwinds impacting decision-making.

• Oracle and SAP sectors both showed strong performance, with Oracle gaining momentum and an increase of 9% in revenues compared to the same period last year.

• Adjusted EBITDA was $16.3 million, maintaining consistency with the previous year at 21.5% of revenues.

Business Progress:

• AI Explorer platform enhancements, with the impending release of Version 2, which aims to simulate enterprise use cases utilizing Hackett's robust business process knowledge.

• Emphasis on GenAI investments, leveraging Hackett's unique position in enterprise digital transformation and advisory services.

• Strategic focus on extending AI capabilities and integrating GenAI content across all advisory programs.

• Downstream revenue from benchmarking and executive advisory clients continues to support business transformation and cloud application consulting services.

Opportunities:

• Continued focus on AI Explorer and GenAI implementations to drive future revenue increases.

• Leveraging strong relationships with Oracle and SAP for sustained growth in their respective sectors.

• Expanding market intelligence programs to integrate traditional consulting capabilities with GenAI solutions, addressing broader client needs.

Risks:

• Economic headwinds and extended decision-making cycles continue to impact the business, particularly noted in the e-procurement area.

• Initial conversion rates from meetings regarding the AI Explorer are low, but expected to improve with the launch of updated features.

More details: Hackett Group IR

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