DHI (D.R. Horton, Inc.)

• The Ford of homebuilding.
• Carvana for newly built homes.

• Specialized Career Marketplaces: DHI operates online platforms, primarily Dice.com, connecting technology professionals with employers seeking their specialized skills.
• Talent Acquisition Solutions: They provide tools and services for employers to efficiently source, engage, and hire qualified candidates through features like resume databases and targeted recruitment advertising.
• Career Resources: DHI offers various content and tools, such as salary data, career advice, and industry news, to assist professionals in their job search and career development.

Company: DHI Group, Inc. (DHX)

DHI Group, Inc. primarily serves other companies (employers) through its suite of career marketplace brands (Dice, eFinancialCareers, and ClearanceJobs).

Based on the company's public filings, DHI Group, Inc. serves a highly diverse customer base. The company explicitly states that its largest customer represents less than 1% of its total revenue, indicating no single "major customer" by traditional revenue concentration metrics. Therefore, it is not possible to list specific named major customer companies or their symbols.

However, DHI's customer base consists of a broad range of companies seeking to hire technology and finance professionals. These customers can be broadly categorized by the industry focus of DHI's primary brands:

• Technology Companies: Companies across various sectors, ranging from startups to large enterprises, that actively recruit for technology-specific roles. This includes software development firms, IT service providers, companies focusing on data science, AI, cybersecurity, and technology departments within non-tech industries (e.g., retail, healthcare, automotive). These customers primarily utilize the Dice brand.
• Financial Services Institutions: A wide array of organizations within the global financial sector, including commercial banks, investment banks, asset management firms, hedge funds, insurance companies, and fintech startups. These institutions seek finance professionals and technology talent with financial industry expertise, primarily through the eFinancialCareers brand.
• Government Contractors and Defense Companies: Organizations that provide services, technology, and solutions to government agencies, defense departments, and intelligence communities. These companies often require candidates with specific security clearances and utilize the ClearanceJobs brand to find specialized talent.

Art Zeile, Chief Executive Officer

Art Zeile was appointed CEO of DHI Group, Inc. in April 2018. He co-founded HOSTING, a cloud computing services company, where he served as CEO from 2008 to 2016, and was responsible for a strategy focused on rolling up cloud services companies in the U.S. Earlier, he was CEO of QTC Management Inc., a healthcare technology company, from 2006 to 2007. Mr. Zeile also co-founded Inflow Inc., a public data center company, and Link-VTC, a pioneering videoconferencing services provider. He has raised over $500 million in equity and debt capital and has experience driving growth strategies, acquisitions, and turnaround opportunities. He has worked with more than two dozen private equity and venture capital firms, with 17 being direct investors in his companies.

Greg Schippers, Chief Financial Officer

Greg Schippers was appointed Chief Financial Officer on January 28, 2025, after serving as Interim CFO since November 2024. He joined DHI in 2014 as Vice President of Finance and Controller, taking on increasing responsibilities during his tenure. Before joining DHI, Mr. Schippers was Vice President of Finance at Jacobson Companies, where he managed financial accounting for three business units in the U.S. and Asia and oversaw mergers, acquisitions, and divestitures. He also worked as a Senior Manager at Deloitte & Touche, where he handled SEC engagements and provided strategic consulting for major clients.

Jack Connolly, Chief Legal Officer

Jack Connolly serves as Chief Legal Officer and General Counsel for DHI Group, Inc. He joined the company in July 2018, holding various positions including Corporate Attorney, Senior Corporate Attorney, and Vice President of Legal before his current appointment. Mr. Connolly is responsible for managing all legal affairs for DHI, including intellectual property, mergers and acquisitions, strategic alliances, corporate securities, litigation and employment law, and data privacy. Prior to DHI, he served as assistant general counsel at Workiva from 2012 to 2018.

Pam Bilash, Chief Human Resources Officer

Pam Bilash is the Chief Human Resources Officer at DHI Group, Inc., having joined the company in 2014 through its acquisition of onTargetjobs. She has over 25 years of experience in talent management and the information industry. Before her tenure at onTargetjobs, Ms. Bilash worked for Thomson Reuters, where she held roles of increasing responsibility, culminating in her position as Senior Vice President of Human Resources for their healthcare group.

Paul Farnsworth, President of Dice

Paul Farnsworth is the President of Dice, overseeing sales, marketing, product, and development for the Dice brand. He joined DHI Group, Inc. in February 2019 as Chief Technology Officer. Mr. Farnsworth has a strong background in technology leadership, having previously served as Chief Technology Officer at Reed Group and as Senior Vice President at Level 3 Communications. He has also served on multiple advisory boards for startups, growth companies, and global enterprises, helping implement digital strategies.

AI-driven talent acquisition platforms leveraging advanced machine learning and natural language processing to automate candidate sourcing, screening, and matching. These platforms could disintermediate traditional specialized job boards by proactively identifying and engaging with qualified professionals across various data sources, reducing the need for employers to post jobs or search resume databases on dedicated sites. The rapid advancement in AI capabilities threatens to fundamentally shift the talent acquisition workflow, making DHI's traditional model less central or efficient.

Online Recruitment Market (U.S.)

HR Technology Market (U.S. and Global)

Market for Technology Professionals (Relevant for Dice)

Market for Security-Cleared Professionals (Relevant for ClearanceJobs)

DHI Group Inc. (DHX) is expected to drive future revenue growth through several key initiatives and market trends over the next 2-3 years:

1. Expansion and Integration of ClearanceJobs with AgileATS: The acquisition and integration of AgileATS, an applicant tracking system tailored for cleared recruiting, into ClearanceJobs is a significant growth driver. This integration aims to create a bundled, end-to-end recruitment solution, increasing market share in the applicant tracking system market and boosting top-line performance by offering enhanced functionality to existing ClearanceJobs customers and attracting new customers in the broader GovTech market.
2. Leveraging Increased Defense Spending and Demand for Cleared Professionals: ClearanceJobs is well-positioned for long-term growth due to the record U.S. defense budget and increased NATO spending commitments. This heightened defense spending is anticipated to drive bookings and revenue growth within the contracting ecosystem, increasing demand for professionals with government clearance.
3. Rebound in Dice Platform Performance driven by Improving Tech Hiring and AI-Related Demand: While Dice has faced recent challenges, management anticipates a rebound as the broader tech hiring demand resumes. Improvements to the Dice platform, particularly with AI-related job postings, are expected to be a bright spot. The underlying growth in demand for tech talent, especially those with AI skills, is expected to benefit both ClearanceJobs and Dice as the tech labor market normalizes.

Share Repurchases

• DHI Group, Inc. authorized a new stock repurchase program in November 2025, permitting the repurchase of up to $5 million of its common stock through November 12, 2026.
• In February 2023, a program was authorized for up to $10 million through February 2024.
• During 2022, the company repurchased 3.3 million shares for $18.6 million under a program authorized in February 2022 for up to $15 million.

Share Issuance

• No shares were issued during the years ended December 31, 2021, and 2020.
• The number of shares issued (in thousands) increased from 76,442 at December 31, 2022, to 78,833 at March 31, 2023, with an associated dollar amount increase from $766,000 to $790,000.

Outbound Investments

• In June 2021, the company transferred majority ownership and control of its eFinancialCareers (eFC) business to eFC's management.

Capital Expenditures

• Capitalized development costs, which are included in capital expenditures, declined by $0.8 million or 23% year-over-year in 2024.
• Expected capital expenditures for 2023 were approximately $20 million to $22 million, primarily focused on investments in the development of new products and features.
• Capitalized development costs represent internal labor and external vendor expenses incurred for building new products and features on the company's platforms.