Everforth, Inc.
Key statistics
from XBRL data in SEC filingsAI briefing
from the latest 10-K, 10-Q and 8-K eventsEverforth Inc (formerly ASGN) is an IT solutions and digital engineering company serving commercial and federal government clients.
What they do
Everforth provides IT consulting, staffing, and digital engineering services through six brands (Apex Systems, Creative Circle, CyberCoders, ECS, GlideFast, TopBloc) across two segments: Commercial (70% of 2025 revenue) and Federal Government. Core solution areas include Cloud & Infrastructure, Data & AI, Software Development, Customer Experience, Cybersecurity, and Enterprise Platforms. 62% of 2025 revenue came from IT consulting work.
Revenue drivers
- Commercial Segment — Largest segment, 70% of revenue; provides IT solutions and staffing to Fortune 1000 and mid-market clients; Q2 2026 revenue $701.7M.
- Federal Government Segment — 30% of revenue; advanced IT solutions to U.S. agencies; prime contracts 26% of consolidated 2025 revenue; Q2 2026 revenue $305.3M.
- Technology, Media and Telecom (TMT) — Within Commercial, TMT was the only industry to grow YoY in Q2 2026, up $7.7M or 5.6%.
Recent performance
In Q2 2026, revenues were $1,007.0M, down slightly from $1,020.6M in Q2 2025. Net income fell to $14.2M from $29.3M, diluted EPS $0.35 vs $0.67. Adjusted EBITDA was $96.7M (9.6% margin) vs $108.5M (10.6%). Operating cash flow was $52.2M; repurchased 0.4M shares for $11.5M and repaid $23.9M debt. TTM book-to-bill for Commercial IT Consulting was 1.2x; Federal Government new awards were $0.9B with book-to-bill 0.8x.
Strategy
Focus on higher-value IT consulting and digital engineering, leveraging proprietary assets and technology alliances. Completed six acquisitions over five years to expand capabilities. Rebranding to Everforth, unify six brands, scheduled for first half of 2026. Expanding balance sheet flexibility: post-quarter refinanced revolver to new $600M facility. Emphasizing AI integration services as customers move from pilots to production.
Risks
- Federal Government concentration — 26% of 2025 revenue from direct federal contracts; backlog and contract renewal risks could impact results.
- Declining revenue trend — Annual revenue has fallen from $4.58B in 2022 to $3.98B in 2025; Q2 2026 revenue declined YoY.
- Talent availability — Dependence on qualified billable professionals; shortage could limit growth and client service.
- Acquisition integration — Success depends on integrating acquired businesses; any failure could harm financial results.
Outlook
Management expects continued strength in Commercial enterprise platform portfolio and improving bookings conversion. Chair highlighted AI adoption driving demand for IT services. Refinanced revolver provides financial flexibility. No specific numeric guidance provided in provided excerpts.