Kelly Services Inc
kellyservices.comWhat Do They Do?
Places temporary workers and provides outcome-based and permanent-placement services to employers, including businesses, government agencies and education organizations.
10-K for FY2025, filed Feb 12, 2026
How Do They Make Money?
Staffing customers are billed by hour or unit as temporary services are provided, with invoices typically due within 60 days. Outcome-based work is billed by time or unit; talent programs also use monthly management fees or fees tied to services managed, and placement revenue comes when a candidate starts full-time work.
10-K for FY2025, filed Feb 12, 2026Staffing services contracts are generally negotiated and invoiced on a per-hour or per-unit basis as the temporary staffing services are…View ↗
Customer payments are typically due within 60 days of invoicing, but may be shorter or longer depending on contract terms. Management does…View ↗
Billings are generally negotiated and invoiced on a measure of time (hours, weeks, months) or per-unit basis for the Company's services…View ↗
Talent Solutions services include: overall program management of the Company's customer’s contingent workforce, external vendors and/or…View ↗
Permanent placement revenue is recorded at the point in time the permanent placement candidate begins full-time employment. On the…View ↗
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10-K for FY2025, filed Feb 12, 2026
FY2025 revenue by product or service ↗
$4.3B
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10-K for FY2025, filed Feb 12, 2026
$4.3B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Staffing Services
Usage-based
10-K for FY2025, filed Feb 12, 2026 |
66% |
Staffing Services, FY2025
$2.8B Sources
|
Usage-based |
|
Outcome- based Services
Usage-based
10-K for FY2025, filed Feb 12, 2026 |
21% |
Outcome- based Services, FY2025
$893.2M Sources
|
Usage-based |
|
Talent Solutions
Mix
10-K for FY2025, filed Feb 12, 2026 |
12% |
Talent Solutions, FY2025
$492.4M Sources
|
Mix |
|
Permanent Placement
Sold outright
|
1.2% |
Permanent Placement, FY2025
$49.8M Sources
|
Sold outright |
Who Are Their Customers?
Serves employers of all sizes, from local and mid-sized businesses to large enterprises, as well as government agencies and education institutions. Education and therapy staffing is provided to school districts and education organizations; employers also use its staffing and workforce-management programs.
10-K for FY2025, filed Feb 12, 2026
Do Revenues Turn Into Profits?
Not on paper. It lost $254.1M in FY2025, but brought in more cash than it spent: $114.1M of free cash flow.
10-K for FY2025, filed Feb 12, 2026
−$69.8MView ↗
10-K for FY2025, filed Feb 12, 2026
−$254.1MView ↗
10-K for FY2025, filed Feb 12, 2026
$114.1MView ↗
How Are They Changing?
-
Aug 6, 2026
Raises revenue outlook
Now expects a low-to-mid-single digit revenue decline for fiscal 2026 and affirms modest year-over-year adjusted EBITDA margin growth.
Sources
8-K, filed Aug 6, 2026
Q2 revenue of $1.0 billion, with year-over-year decline improving approximately 500 basis points (“bps”) versus the prior quarter…View ↗
Flat. Revenue was $4.3B in FY2025, about the same as the $4.5B of FY2020.
European staffing sale
The older report included European staffing operations; the latest report says Kelly sold those operations and refocused on North American staffing and outcome-based work while retaining global recruitment outsourcing and managed-service-provider offerings.
10-K for FY2022, filed Feb 16, 2023 10-K for FY2025, filed Feb 12, 2026Professional & Industrial – delivers staffing, outcome-based and permanent placement services focused on office, professional, light…View ↗
Building on a significant shift in Kelly’s business mix driven by its specialty strategy, the Company took steps to further optimize its…View ↗
Integrated workforce offering
The earlier report listed Professional & Industrial and Outsourcing & Consulting separately. The latest report combines them in Enterprise Talent Management to serve demand for integrated workforce solutions.
10-K for FY2022, filed Feb 16, 2023 10-K for FY2025, filed Feb 12, 2026Professional & Industrial – delivers staffing, outcome-based and permanent placement services focused on office, professional, light…View ↗
We combined our former P&I and OCG segments into the ETM segment in the first quarter of 2025, responding to a shift in customer demand…View ↗
Who Do They Compete With?
Competes with Randstad, Adecco Group, ManpowerGroup, and Allegis Group
10-K for FY2025, filed Feb 12, 2026The worldwide workforce solutions industry is competitive and highly fragmented. In the United States, we compete with other firms that…View ↗
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