Announces CFO Departure

Last Friday, DHI Group (DHX) announced that CFO Kevin Bostick has resigned, effective September 1, 2023, to pursue other career opportunities. He has agreed to remain a consultant to the company through year-end to ensure an orderly transition. Although we are disappointed to see Mr. Bostick depart due to the success the company has experienced during his tenure, we believe DHI Group will attract a strong successor for the role given its long runway for growth, high levels of recurring revenues and solid profitability. In this regard, the company has already initiated a search for its new CFO, targeting candidates with SaaS or marketplace experience and a balanced view towards growth and profitability. Our price target remains $9.00 based on a FY ’23 EV/Sales multiple of 3x.

Our report with model and disclosures is available here.

Disclosure(s):

K. Liu & Company LLC (“the firm”) receives or intends to seek compensation from the companies covered in its research reports. The firm has received compensation from DHI Group, Inc. (DHX) in the past 12 months for “Sponsored Research.”

Sponsored Research produced by the firm is paid for by the subject company in the form of an initial retainer and a recurring monthly fee. The analysis and recommendations in our Sponsored Research reports are derived from the same process and methodologies utilized in all of our research reports whether sponsored or not. The subject company does not review any aspect of our Sponsored Research reports prior to publication.