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Barrett Business Services (BBSI)

Barrett Business Services Inc. (BBSI) is a leading provider of business management solutions, combining human resource outsourcing and professional management consulting to create a unique operational platform that differentiates it from competitors. The Company's integrated platform is built upon expertise in payroll processing, employee benefits, workers' compensation coverage, risk management and workplace safety programs, and human resource administration. BBSI's partnerships help businesses of all sizes improve the efficiency of their operations. The Company works with more than 7,500 clients across all lines of business in 39 states.

Company profile

Ticker
BBSI
Exchange
CEO
Gary Kramer
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Associated Insurance Company • Ecole Insurance Company • BBS I, LLC ...
IRS number
520812977

BBSI stock data

Calendar

3 Aug 22
9 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 44.14M 44.14M 44.14M 44.14M 44.14M 44.14M
Cash burn (monthly) 3.57M (no burn) (no burn) (no burn) 2.4M 4.62M
Cash used (since last report) 4.77M n/a n/a n/a 3.21M 6.18M
Cash remaining 39.37M n/a n/a n/a 40.93M 37.96M
Runway (months of cash) 11.0 n/a n/a n/a 17.0 8.2

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
6 Jul 22 Carley Thomas J Common Stock Gift Dispose G No No 0 1,192 0 22,907
1 Jul 22 Anthony J Harris Common Stock Payment of exercise Dispose F No No 73.54 403 29.64K 6,337
1 Jul 22 Anthony J Harris Common Stock Option exercise Acquire M No No 0 1,022 0 6,740
1 Jul 22 Anthony J Harris Common Stock Payment of exercise Dispose F No No 73.54 536 39.42K 5,718
1 Jul 22 Anthony J Harris Common Stock Option exercise Acquire M No No 0 1,360 0 6,254
1 Jul 22 Anthony J Harris Common Stock Payment of exercise Dispose F No No 73.54 187 13.75K 4,894
1 Jul 22 Anthony J Harris Common Stock Option exercise Acquire M No No 0 475 0 5,081
1 Jul 22 Anthony J Harris Common Stock Payment of exercise Dispose F No No 73.54 153 11.25K 4,606
1 Jul 22 Anthony J Harris Common Stock Option exercise Acquire M No No 0 388 0 4,759
1 Jul 22 Anthony J Harris RSU Common Stock Grant Acquire A No No 0 1,019 0 1,019
0.0% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 1 1
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares Current Prev Q Change
Total value 0 0
Total shares 1 1
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Huntington National Bank 1 $0 0.0%
Largest transactions Shares Bought/sold Change
Huntington National Bank 1 0 0.0%

Financial report summary

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Risks
  • New service offerings may subject us to additional risks.
Management Discussion
  • The spread of COVID-19 and resulting restrictions and labor shortages across the United States are having, and will continue to have, a negative impact on the operating results of the Company. As our clients respond to the effects of efforts to address the consequences of the pandemic, including the measures taken at various levels of government to contain the virus’s spread, we expect that our ability to add new customers, as well as to grow revenues from existing customers, will be adversely affected due to economic slowdown, business closures, labor shortages and reductions in hours worked.
  • We report PEO revenues net of direct payroll costs because we are not the primary obligor for wage payments to our clients’ employees. However, management believes that gross billings and wages are useful in understanding the volume of our business activity and serve as an important performance metric in managing our operations, including the preparation of internal operating forecasts and establishing executive compensation performance goals. We therefore present for purposes of analysis gross billings and wage information for the years ended December 31, 2021, 2020 and 2019. 
  • Because safety incentives represent consideration payable to PEO customers, safety incentive costs are netted against PEO revenue in our consolidated statements of operations. We therefore present below for purposes of analysis non-GAAP gross workers’ compensation expense, which represents workers’ compensation costs including safety incentive costs. We believe this non-GAAP measure is useful in evaluating the total costs of our workers’ compensation program. In July 2020, the Company began limiting its safety incentive offering in certain markets, resulting in a substantial reduction in safety incentive costs.

Content analysis

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Positive
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Constraining
Legalese
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Readability
H.S. sophomore Avg
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Removed: lower, reopening