\nTrueBlue (NYSE:TBI) today announced its third quarter results for 2025.<\/p>\n
Third Quarter 2025 Financial Highlights<\/b><\/p>\n Commentary<\/b><\/p>\n \n\u201cOur third quarter performance exceeded expectations as business trends continued to stabilize and we gained traction with our strategic focus,\u201d said Taryn Owen, President and CEO of TrueBlue. \u201cWe\u2019ve made meaningful progress advancing our growth strategy, including enhanced performance in attractive end markets, most notably within our skilled businesses where energy sector revenue more than doubled and our commercial driver business delivered its fifth consecutive quarter of double-digit growth.\u201d<\/p>\n \nMs. Owen continued, \u201cThis quarter underscores the progress we\u2019re making on our long-term enterprise strategy, as we continue to strengthen performance, anticipate market shifts, and advance toward sustainable, profitable growth. Our key priorities are taking hold as we further expand in high-growth markets, accelerate our digital transformation, and optimize our sales function to capitalize on growth opportunities and deliver greater shareholder value as the market rebounds.\u201d<\/p>\n Results<\/b><\/p>\n \nThird quarter revenue was $431 million, an increase of 13 percent compared to revenue of $382 million in the third quarter of 2024. Net loss per diluted share was $0.06 compared to net loss per diluted share of $0.26 in the prior year period. Adjusted net income1<\/sup> per diluted share was $0.03 compared to adjusted net loss per diluted share of $0.11 in the prior year period.<\/p>\n 2025 Outlook<\/b><\/p>\n \nTrueBlue is providing certain forward-looking information to help investors form their estimates, which can be found in the quarterly earnings presentation filed today.<\/p>\n \nManagement will discuss third quarter 2025 results on a webcast at 2:00 p.m. PT (5:00 p.m. ET), today, Monday, Nov. 3, 2025<\/b>.<\/p>\n \nThe quarterly earnings presentation and webcast can be accessed on the Investor Relations section of the TrueBlue website: investor.trueblue.com<\/a>.<\/p>\n About TrueBlue<\/b><\/p>\n \nTrueBlue (NYSE: TBI) is a leading provider of specialized workforce solutions. As The People Company\u00ae, we put people first\u2013advancing our mission to connect people and work while delivering smart, scalable solutions that help businesses grow and communities thrive. Since our founding, TrueBlue has connected more than 10 million people with work and served over 3 million clients across a variety of industries. Powered by proprietary, digitally enabled platforms and decades of expertise, our brands\u2013PeopleReady, PeopleScout, Staff Management | SMX, Centerline, SIMOS, and Healthcare Staffing Professionals\u2013provide a full spectrum of flexible staffing, workforce management, and recruitment solutions that bring precision, speed and scale to the changing world of work. Learn more at www.trueblue.com<\/a>.<\/p>\n 1 <\/sup>Refer to the financial statements accompanying this release for more information regarding non-GAAP terms.<\/p>\n Forward-looking statements and non-GAAP financial measures<\/b><\/p>\n \nThis document contains forward-looking statements relating to our plans and expectations including, without limitation, statements regarding the future performance and operations of our business, expectations regarding stabilization in demand, and expected growth from our digital investments, all of which are subject to risks and uncertainties. Such statements are based on management\u2019s expectations and assumptions as of the date of this release and involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied in our forward-looking statements including: (1) national and global economic conditions, which can be negatively impacted by factors such as rising interest rates, inflation, changes in government policies, political instability, epidemics and global trade uncertainty, (2) factors relating to any unsolicited offer (\u201cOffer\u201d) to purchase the shares of the Company, actions taken by the Company or its stockholders in respect to such an Offer, and the effects of such an Offer, or the completion or failure to complete an Offer on the Company\u2019s business, or other developments involving such an Offer and the activist shareholders or others who disagree with the composition of the board, our strategy, or the way the Company is managed; (3) our ability to maintain profit margins, (4) our ability to attract and retain clients, (5) our ability to access sufficient capital to finance our operations, including our ability to comply with covenants contained in our revolving credit facility, (6) our ability to successfully execute on business strategies and further digitalize our business model, (7) our ability to attract sufficient qualified candidates and employees to meet the needs of our clients, (8) new laws, regulations, and government incentives that could affect our operations or financial results, (9) any reduction or change in tax credits we utilize, including the Work Opportunity Tax Credit, (10) our ability to successfully integrate acquired businesses, and (11) the timing and amount of common stock repurchases, if any, which will be determined at management\u2019s discretion and depend upon several factors, including market and business conditions, the trading price of our common stock and the nature of other investment opportunities. Other information regarding factors that could affect our results is included in our Securities and Exchange Commission (SEC) filings, including the company\u2019s most recent reports on Forms 10-K and 10-Q, copies of which may be obtained by visiting our website at www.trueblue.com<\/a> under the Investor Relations section or the SEC\u2019s website at www.sec.gov<\/a>. We assume no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law. Any other references to future financial estimates are included for informational purposes only and subject to risk factors discussed in our most recent filings with the SEC.<\/p>\n \nIn addition, we use several non-GAAP financial measures when presenting our financial results in this document. Please refer to the reconciliations between our U.S. GAAP and non-GAAP financial measures in the appendix to this document and on our website at www.trueblue.com<\/a> under the Investor Relations section for additional information on both current and historical periods. The presentation of these non-GAAP financial measures is used to enhance the understanding of certain aspects of our financial performance. It is not meant to be considered in isolation, superior to, or as a substitute for the directly comparable financial measures prepared in accordance with U.S. GAAP, and may not be comparable to similarly titled measures of other companies.<\/p>\n TRUEBLUE, INC.<\/b><\/p>\n<\/td>\n<\/tr>\n SUMMARY CONSOLIDATED STATEMENTS OF OPERATIONS<\/b><\/p>\n<\/td>\n<\/tr>\n (Unaudited)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n 13 weeks ended<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 39 weeks ended<\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands, except per share data)<\/i><\/b><\/p>\n<\/td>\n Sep 28, 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Sep 29, 2024<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Sep 28, 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Sep 29, 2024<\/b><\/p>\n<\/td>\n<\/tr>\n \nRevenue from services<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 431,266<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n382,357<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 1,197,819<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,181,440<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCost of services<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 333,374<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n282,320<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 920,021<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n877,594<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Gross profit<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 97,892<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n100,037<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 277,798<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n303,846<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSelling, general and administrative expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 91,728<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n99,973<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 276,147<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n303,928<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDepreciation and amortization<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 6,310<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,967<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 18,661<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22,616<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nGoodwill and intangible asset impairment charge<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 200<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n59,674<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Loss from operations<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (146<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(6,903<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (17,210<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(82,372<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nInterest and other income (expense), net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (1,059<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n521<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2,037<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,861<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Loss before tax expense<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (1,205<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(6,382<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (15,173<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(78,511<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nIncome tax expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 711<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,253<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1,251<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n35,532<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Net loss<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (1,916<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(7,635<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (16,424<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(114,043<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Net loss per common share:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nBasic<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (0.06<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(0.26<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (0.55<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(3.75<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nDiluted<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (0.06<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(0.26<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (0.55<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(3.75<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Weighted average shares outstanding:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nBasic<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 29,896<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n29,704<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 29,817<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n30,384<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDiluted<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 29,896<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n29,704<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 29,817<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n30,384<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n TRUEBLUE, INC.<\/b><\/p>\n<\/td>\n<\/tr>\n SUMMARY CONSOLIDATED BALANCE SHEETS<\/b><\/p>\n<\/td>\n<\/tr>\n (Unaudited)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands)<\/i><\/b><\/p>\n<\/td>\n Sep 28, 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Dec 29, 2024<\/b><\/p>\n<\/td>\n<\/tr>\n ASSETS<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCash and cash equivalents<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 19,893<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n22,536<\/p>\n<\/td>\n<\/tr>\n \nAccounts receivable, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 251,873<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n214,704<\/p>\n<\/td>\n<\/tr>\n \nOther current assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 41,476<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n39,853<\/p>\n<\/td>\n<\/tr>\n Total current assets<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 313,242<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n277,093<\/p>\n<\/td>\n<\/tr>\n \nProperty and equipment, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 81,843<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n89,602<\/p>\n<\/td>\n<\/tr>\n \nRestricted cash, cash equivalents and investments<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 149,691<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n179,916<\/p>\n<\/td>\n<\/tr>\n \nGoodwill and intangible assets, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 61,027<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n30,406<\/p>\n<\/td>\n<\/tr>\n \nOther assets, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 84,724<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n98,359<\/p>\n<\/td>\n<\/tr>\n Total assets<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 690,527<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n675,376<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n LIABILITIES AND SHAREHOLDERS\u2019 EQUITY<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAccounts payable and other accrued expenses<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 39,447<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n45,599<\/p>\n<\/td>\n<\/tr>\n \nAccrued wages and benefits<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 67,395<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n61,380<\/p>\n<\/td>\n<\/tr>\n \nCurrent portion of workers\u2019 compensation claims reserve<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 27,805<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n34,729<\/p>\n<\/td>\n<\/tr>\n \nOther current liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 21,055<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n18,417<\/p>\n<\/td>\n<\/tr>\n Total current liabilities<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 155,702<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n160,125<\/p>\n<\/td>\n<\/tr>\n \nWorkers\u2019 compensation claims reserve, less current portion<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 75,090<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n105,063<\/p>\n<\/td>\n<\/tr>\n \nLong-term debt, less current portion<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 68,200<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7,600<\/p>\n<\/td>\n<\/tr>\n \nOther long-term liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 87,196<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n87,229<\/p>\n<\/td>\n<\/tr>\n Total liabilities<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 386,188<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n360,017<\/p>\n<\/td>\n<\/tr>\n \nShareholders\u2019 equity<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 304,339<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n315,359<\/p>\n<\/td>\n<\/tr>\n Total liabilities and shareholders\u2019 equity<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 690,527<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n675,376<\/p>\n<\/td>\n<\/tr>\n<\/table>\n TRUEBLUE, INC.<\/b><\/p>\n<\/td>\n<\/tr>\n CONSOLIDATED STATEMENTS OF CASH FLOWS<\/b><\/p>\n<\/td>\n<\/tr>\n (Unaudited)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n 39 weeks ended<\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands)<\/i><\/b><\/p>\n<\/td>\n Sep 28, 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Sep 29, 2024<\/b><\/p>\n<\/td>\n<\/tr>\n Cash flows from operating activities:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet loss<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (16,424<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(114,043<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Adjustments to reconcile net loss to net cash used in operating activities:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDepreciation and amortization (inclusive of depreciation included in cost of services)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 21,657<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22,616<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nGoodwill and intangible asset impairment charge<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 200<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n59,674<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nProvision for credit losses<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1,119<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,577<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nStock-based compensation<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 5,629<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,676<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDeferred income taxes<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (356<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n34,694<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNon-cash lease expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 8,291<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,145<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther operating activities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (3,643<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(5,052<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Changes in operating assets and liabilities:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAccounts receivable<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (24,411<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25,802<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIncome taxes receivable and payable<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 3,151<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n219<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 5,233<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,719<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAccounts payable and other accrued expenses<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (7,693<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(18,771<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nAccrued wages and benefits<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (4,355<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(15,640<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nWorkers\u2019 compensation claims reserve<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (36,898<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(30,069<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nOperating lease liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (8,614<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(9,236<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nOther liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 3,440<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,500<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Net cash used in operating activities<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (53,674<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(23,189<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Cash flows from investing activities:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCapital expenditures<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (12,552<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(18,874<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nAcquisition of business, net of cash acquired<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (30,181<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nProceeds from business divestiture, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 400<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,928<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPayments for company-owned life insurance<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (2<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(4,000<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nPurchases of restricted held-to-maturity investments<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (3,935<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(10,180<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nMaturities of restricted held-to-maturity investments<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 30,178<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n28,688<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Net cash used in investing activities<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (16,092<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,438<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Cash flows from financing activities:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPurchases and retirement of common stock<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(21,301<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nNet proceeds from employee stock purchase plans<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 363<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n564<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCommon stock repurchases for taxes upon vesting of restricted stock<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (973<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,221<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nNet change in revolving credit facility<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 60,600<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (401<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,807<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Net cash provided by (used in) financing activities<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 59,589<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(24,765<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nEffect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (134<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(638<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Net change in cash, cash equivalents, and restricted cash and cash equivalents<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (10,311<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(50,030<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Cash, cash equivalents and restricted cash and cash equivalents, beginning of period<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 61,100<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n99,306<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Cash, cash equivalents and restricted cash and cash equivalents, end of period<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 50,789<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n49,276<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n TRUEBLUE, INC.<\/b><\/p>\n<\/td>\n<\/tr>\n SEGMENT DATA<\/b><\/p>\n<\/td>\n<\/tr>\n (Unaudited)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n 13 weeks ended<\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands)<\/i><\/b><\/p>\n<\/td>\n Sep 28, 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Sep 29, 2024<\/b><\/p>\n<\/td>\n<\/tr>\n Revenue from services:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPeopleReady<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 251,436<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n214,792<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPeopleManagement<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 132,863<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n130,852<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPeopleSolutions (1)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 46,967<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n36,713<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Total company<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 431,266<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n382,357<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Segment profit <\/b>(2):<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPeopleReady<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 8,099<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n3,043<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPeopleManagement<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 4,552<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,278<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPeopleSolutions<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 4,185<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,542<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Total segment profit<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 16,836<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,863<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCorporate unallocated expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (6,194<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(4,184<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Total company Adjusted EBITDA<\/b> (3)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 10,642<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,679<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nThird-party processing fees for hiring tax credits (4)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (60<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n30<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAmortization of software as a service assets (5)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (1,063<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,615<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nAcquisition\/integration costs<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (42<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nWorkforce reduction costs (6)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (527<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,809<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nPeopleReady technology upgrade costs (7)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(65<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nOther adjustments, net (8)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (1,751<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(156<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n EBITDA <\/b>(2)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 7,199<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n64<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDepreciation and amortization (9)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (7,345<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(6,967<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nInterest and other income (expense), net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (1,059<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n521<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLoss before tax expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (1,205<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(6,382<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nIncome tax expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (711<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,253<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Net loss<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (1,916<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(7,635<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n(1)<\/p>\n<\/td>\n \nPeopleSolutions segment includes previously reported PeopleScout segment as well as Healthcare Staffing Professionals Inc. acquired on January 31, 2025.<\/p>\n<\/td>\n<\/tr>\n \n(2)<\/p>\n<\/td>\n \nWe evaluate performance based on segment revenue and segment profit. Segment profit includes revenue, related cost of services, and ongoing operating expenses directly attributable to the reportable segment. Segment profit (loss) excludes depreciation and amortization expense, unallocated corporate general and administrative expense, interest expense, other income, income taxes, and other adjustments not considered to be ongoing.<\/p>\n<\/td>\n<\/tr>\n \n(3)<\/p>\n<\/td>\n \nSee the Non-GAAP Financial Measures table on the next page for definitions of EBITDA and Adjusted EBITDA.<\/p>\n<\/td>\n<\/tr>\n \n(4)<\/p>\n<\/td>\n \nThese third-party processing fees are associated with generating hiring tax credits.<\/p>\n<\/td>\n<\/tr>\n \n(5)<\/p>\n<\/td>\n \nAmortization of software as a service assets is reported in selling, general and administrative expense.<\/p>\n<\/td>\n<\/tr>\n \n(6)\u00a0<\/p>\n<\/td>\n \nWorkforce reduction costs of $0.5 million for the 13 weeks ended September 28, 2025 were reported as $0.1 million in cost of services and $0.4 million in selling, general and administrative expense. Workforce reduction costs of $2.8 million for the 13 weeks ended September 29, 2024 were reported as $0.2 million in cost of services and $2.6 million in selling, general and administrative expense.<\/p>\n<\/td>\n<\/tr>\n \n(7)<\/p>\n<\/td>\n \nCosts associated with upgrading legacy PeopleReady technology.<\/p>\n<\/td>\n<\/tr>\n \n(8)<\/p>\n<\/td>\n \nOther adjustments for the 13 weeks ended September 28, 2025 include non-routine professional fees and other expenses.<\/p>\n<\/td>\n<\/tr>\n \n(9)<\/p>\n<\/td>\n \nIncludes software depreciation reported in cost of services.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n TRUEBLUE, INC. \nIn addition to financial measures presented in accordance with U.S. GAAP, we monitor certain non-GAAP key financial measures. The presentation of these non-GAAP financial measures is used to enhance the understanding of certain aspects of our financial performance. It is not meant to be considered in isolation, superior to, or as a substitute for the directly comparable financial measures prepared in accordance with U.S. GAAP, and may not be comparable to similarly titled measures of other companies.<\/p>\n Non-GAAP measure<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Definition<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Purpose of adjusted measures<\/b><\/p>\n<\/td>\n<\/tr>\n Adjusted net income (loss) and<\/i><\/b><\/p>\n Adjusted net income (loss) per diluted share<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nNet loss and net loss per diluted share, excluding:<\/p>\n \n\u2013 gain on divestiture,<\/p>\n \n\u2013 amortization of intangibles,<\/p>\n \n\u2013 acquisition\/integration costs,<\/p>\n \n\u2013 workforce reduction costs,<\/p>\n \n\u2013 PeopleReady technology upgrade costs,<\/p>\n \n\u2013 other adjustments, net, and<\/p>\n \n\u2013 tax effect of the adjustments and deferred tax asset valuation allowance.<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2013 Enhances comparability on a consistent basis and provides investors with useful insight into the underlying trends of the business.<\/p>\n \n\u2013 Used by management to assess performance and effectiveness of our business strategies.<\/p>\n \n\u2013 Provides a measure, among others, used in the determination of incentive compensation for management.<\/p>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n EBITDA and<\/i><\/b><\/p>\n Adjusted EBITDA<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nEBITDA excludes from net loss:<\/p>\n \n\u2013 income tax expense,<\/p>\n \n\u2013 interest and other (income) expense, net, and<\/p>\n \n\u2013 depreciation and amortization.<\/p>\n \n\u00a0<\/p>\n \nAdjusted EBITDA further excludes:<\/p>\n \n\u2013 third-party processing fees for hiring tax credits,<\/p>\n \n\u2013 amortization of software as a service assets,<\/p>\n \n\u2013 acquisition\/integration costs,<\/p>\n \n\u2013 workforce reduction costs,<\/p>\n \n\u2013 PeopleReady technology upgrade costs, and<\/p>\n \n\u2013 other adjustments, net.<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2013 Enhances comparability on a consistent basis and provides investors with useful insight into the underlying trends of the business.<\/p>\n \n\u2013 Used by management to assess performance and effectiveness of our business strategies.<\/p>\n \n\u2013 Provides a measure, among others, used in the determination of incentive compensation for management.<\/p>\n<\/td>\n<\/tr>\n Adjusted SG&A expense<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nSelling, general and administrative expense excluding:<\/p>\n \n\u2013 third-party processing fees for hiring tax credits,<\/p>\n \n\u2013 amortization of software as a service assets,<\/p>\n \n\u2013 acquisition\/integration costs,<\/p>\n \n\u2013 workforce reduction costs,<\/p>\n \n\u2013 PeopleReady technology upgrade costs, and<\/p>\n \n\u2013 other adjustments, net.<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2013 Enhances comparability on a consistent basis and provides investors with useful insight into the underlying trends of the business.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \u00a01.<\/b><\/p>\n<\/td>\n RECONCILIATION OF U.S. GAAP NET LOSS TO ADJUSTED NET INCOME (LOSS) AND ADJUSTED NET INCOME (LOSS) PER DILUTED SHARE <\/b><\/p>\n<\/td>\n<\/tr>\n (Unaudited<\/i>)<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0<\/p>\n<\/td>\n 13 weeks ended<\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands, except for per share data)<\/i><\/b><\/p>\n<\/td>\n Sep 28, 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Sep 29, 2024<\/b><\/p>\n<\/td>\n<\/tr>\n \nNet loss<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (1,916<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(7,635<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nGain on divestiture<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n29<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAmortization of intangible assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 650<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n672<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAcquisition\/integration costs<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 42<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nWorkforce reduction costs (1)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 527<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,809<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPeopleReady technology upgrade costs (2)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n65<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther adjustments, net (3)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1,751<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n156<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTax effect of adjustments and deferred tax asset valuation allowance (4)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n573<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Adjusted net income (loss)<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 1,054<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(3,331<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Adjusted net income (loss) per diluted share<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 0.03<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(0.11<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Diluted weighted average shares outstanding<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 30,283<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n29,704<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Margin \/ % of revenue:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet loss<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (0.4<\/b><\/p>\n<\/td>\n )%<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2.0<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n<\/tr>\n \nAdjusted net income (loss)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 0.2<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(0.9<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \u00a02.<\/b><\/p>\n<\/td>\n RECONCILIATION OF U.S. GAAP NET LOSS TO EBITDA AND ADJUSTED EBITDA <\/b><\/p>\n<\/td>\n<\/tr>\n (Unaudited<\/i>)<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0<\/p>\n<\/td>\n 13 weeks ended<\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands)<\/i><\/b><\/p>\n<\/td>\n Sep 28, 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Sep 29, 2024<\/b><\/p>\n<\/td>\n<\/tr>\n \nNet loss<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (1,916<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(7,635<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nIncome tax expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 711<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,253<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nInterest and other (income) expense, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1,059<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(521<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nDepreciation and amortization (5)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 7,345<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,967<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n EBITDA<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 7,199<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n64<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nThird-party processing fees for hiring tax credits (6)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 60<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(30<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nAmortization of software as a service assets (7)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1,063<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,615<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAcquisition\/integration costs<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 42<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nWorkforce reduction costs (1)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 527<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,809<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPeopleReady technology upgrade costs (2)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n65<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther adjustments, net (3)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1,751<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n156<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Adjusted EBITDA<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 10,642<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n4,679<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Margin \/ % of revenue:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet loss<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (0.4<\/b><\/p>\n<\/td>\n )%<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2.0<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n<\/tr>\n \nAdjusted EBITDA<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2.5<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.2<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \u00a03.<\/b><\/p>\n<\/td>\n RECONCILIATION OF U.S. GAAP SELLING, GENERAL AND ADMINISTRATIVE EXPENSE TO ADJUSTED SG&A EXPENSE<\/b><\/p>\n<\/td>\n<\/tr>\n (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0<\/p>\n<\/td>\n 13 weeks ended<\/b><\/p>\n<\/td>\n<\/tr>\n (in thousands)<\/i><\/b><\/p>\n<\/td>\n Sep 28, 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Sep 29, 2024<\/b><\/p>\n<\/td>\n<\/tr>\n \nSelling, general and administrative expense<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 91,728<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n99,973<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nThird-party processing fees for hiring tax credits (6)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (60<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n30<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAmortization of software as a service assets (7)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (1,063<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,615<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nAcquisition\/integration costs<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (42<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nWorkforce reduction costs (1)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (374<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,601<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nPeopleReady technology upgrade costs (2)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(65<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nOther adjustments, net (3)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (1,751<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(156<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Adjusted SG&A expense<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 88,438<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n95,566<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n % of revenue:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSelling, general and administrative expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 21.3<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n26.1<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nAdjusted SG&A expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 20.5<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25.0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n(1)<\/p>\n<\/td>\n \nWorkforce reduction costs of $0.5 million for the 13 weeks ended September 28, 2025 were reported as $0.1 million in cost of services and $0.4 million in selling, general and administrative expense. Workforce reduction costs of $2.8 million for the 13 weeks ended September 29, 2024 were reported as $0.2 million in cost of services and $2.6 million in selling, general and administrative expense.<\/p>\n<\/td>\n<\/tr>\n \n(2)<\/p>\n<\/td>\n \nCosts associated with upgrading legacy PeopleReady technology.<\/p>\n<\/td>\n<\/tr>\n \n(3)<\/p>\n<\/td>\n \nOther adjustments for the 13 weeks ended September 28, 2025 include non-routine professional fees and other expenses.<\/p>\n<\/td>\n<\/tr>\n \n(4)<\/p>\n<\/td>\n \nThe tax effect includes the application of our statutory rate of 26% to all taxable \/ deductible adjustments. For the 13 weeks ended September 28, 2025 and September 29, 2024, there was no tax effect associated with the adjustments due to the valuation allowance recorded against our deferred tax assets. For the 13 weeks ended September 29, 2024, a valuation allowance of $0.6 million was recorded against our foreign deferred tax assets.<\/p>\n<\/td>\n<\/tr>\n \n(5)<\/p>\n<\/td>\n \nIncludes software depreciation reported in cost of services.<\/p>\n<\/td>\n<\/tr>\n \n(6)<\/p>\n<\/td>\n \nThese third-party processing fees are associated with generating hiring tax credits.<\/p>\n<\/td>\n<\/tr>\n \n(7)<\/p>\n<\/td>\n \nAmortization of software as a service assets is reported in selling, general and administrative expense.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20251031075127\/en\/<\/a><\/span><\/p>\n\n
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\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
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<\/b>NON-GAAP FINANCIAL MEASURES AND NON-GAAP RECONCILIATIONS<\/b><\/p>\n\n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \u00a0<\/td>\n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \u00a0<\/td>\n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \u00a0<\/td>\n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/p>\n
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