The company’s revenue slipped to $98.1 million from $120.2 million in the same period last year, missing the $100 million threshold projected by analysts. While the firm’s adjusted loss of 16 cents a share proved slightly better than the 17-cent loss anticipated by FactSet, the broader financial picture remains strained.

Chief Executive Roger Carlile attributed the shortfall to sluggish consulting activity and hesitant client decision-making. To stabilize the balance sheet, the firm is prioritizing cost reductions alongside efforts to refine sales execution and improve staff utilization on active projects.