The Hackett Group, Inc. (HCKT) SEC Filings & Earnings Calls

Gen AI consulting demand uncertainty

“Elongated client decision marking still persists, as clients continue to question the underlying value of Gen AI and are also confused by the return of investment of Gen AI first adoption strategies.” · word for word

High debt level

“As of June 26, 2026, we had outstanding debt of $81.0 million, excluding debt issue costs. As of June 27, 2025, we had outstanding debt of $23.0 million, excluding debt issue costs.” · word for word

Restructuring execution risk

“During the second quarter and first six months of 2026, we incurred restructuring costs of $492 thousand and $2.4 million as a result of the continued pivot of our business to Gen AI, respectively.” · word for word

Business model transition risk: revenue declining during shift to platform-led solutions.

“Q2 revenue down 12% YoY; CEO acknowledges 'ongoing transition of our business model.'”

Leverage risk: $81M drawn on $125M credit facility, net debt position.

“$81M outstanding on credit facility; company reduced net debt by $6.1M in Q2.”

Elongated Client Decision Cycles

“Although we continued to see an increasing number of clients utilizing our Gen AI delivery platforms, that was more than offset by elongated client decision cycles that persisted throughout the quarter as clients are evaluating their Gen AI return on investments.” · word for word

Macroeconomic Uncertainty

“Any deterioration in the current macroeconomic environment or economic downturn as a result of weak or uncertain economic conditions due to inflation, high interest rates, tariffs, national or geopolitical events or other factors impacting economic activity or business confidence could adversely affect our clients' financial condition or outlook which may re” · word for word

Client Concentration

“In the first three months of 2026, one customer accounted for 4% of our Company total revenue. In the first three months of 2025, one customer accounted for 9% of our Company total revenue.” · word for word

Shareholder Dissatisfaction with Compensation

“At the Company’s 2025 annual meeting of shareholders, approximately 44% of the votes were cast in support of the say‑on‑pay proposal, compared to an average of approximately 98% support since 2020.” · word for word

Stock Price Volatility / Underperformance

“As of March 13, 2026, the last closing stock price prior to the date of this proxy statement, was $13.85.” · word for word

Revenue declining year-over-year; consulting demand may be softening.

“Q4 2025 revenue $75.8M vs $79.2M prior year; Q1 2026 guidance implies further sequential decline.”

Revenue concentration risk

“In the third quarter and first nine months of 2025, one customer accounted for 5% and 7%, respectively, of our Company total revenue.” · word for word

Macroeconomic demand risk

“Any deterioration in the current macroeconomic environment or economic downturn as a result of weak or uncertain economic conditions due to inflation, high interest rates, tariffs, national or geopolitical events or other factors impacting economic activity or business confidence could adversely affect our clients' financial condition or outlook which may re” · word for word

Revenue declined YoY; GAAP EPS down significantly due to non-cash compensation and restructuring costs.

“Total revenue in the third quarter of 2025 was $73.1 million... compared to total revenue of $79.8 million... GAAP diluted earnings per share was $0.09... as compared to $0.31” · word for word

Restructuring costs as company pivots to Gen AI; execution risk.

“restructuring costs as the Company continues its pivot of the business to Gen AI of $3.1 million” · word for word