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Perficient, Inc. (Nasdaq: PRFT), a global digital consultancy, has recently released its financial results for the first quarter of 2024. The numbers show a decrease in revenues and net income compared to the same period in 2023.

Financial Highlights

For the quarter ended March 31, 2024:

• Revenues dropped by 7% to $215.3 million from $231.4 million in Q1 2023.
• Net income saw a significant 57% decrease to $11.6 million, down from $26.8 million in the first quarter of 2023.
• GAAP earnings per share results on a fully diluted basis decreased by 56% to $0.33 from $0.75 in Q1 2023.
• Adjusted earnings per share results also declined by 26% to $0.77 from $1.04 in the first quarter of 2023.
• Adjusted EBITDA decreased by 27% to $36.5 million from $50.1 million in Q1 2023.

Tom Hogan, President and CEO of Perficient, remains optimistic about the future, stating, “Our business is steadily improving and our pipeline remains robust. We are confident that momentum will continue to build throughout 2024.” Hogan also highlighted the recent agreement with EQT, offering stockholders compelling cash value for their shares.

Other Highlights

Perficient has achieved several milestones recently:

• Named a 2024 Top Workplace by USA Today, recognizing its collaborative and people-first global culture.
• Published the 2023 Community Impact Report, showcasing its Corporate Social Responsibility initiatives supporting STEM education and community well-being.
• Established a partnership with professional golfer Josef “Sepp” Straka for marketing and sponsorship.
• Received an Innovation in Philanthropy Award for hosting AI Bootcamps for high school students in partnership with the Mark Cuban Foundation.
• Received the 2024 Appian Partner Impact and Excellence Award for Delivery.

Perficient continues to make strides in the digital consultancy sector, despite the challenges faced in the first quarter of 2024. With a positive outlook and a commitment to innovation, the company is poised for future success.