Every 10-Q that TRINET GROUP, INC. (TNET) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow TNET and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full TNET filings page.
TriNet Group, Inc. reported Q2 2026 total revenues of $1,178 million, down 5% year over year, as co-employed Average WSEs fell 11% and Total WSEs fell 12%. Despite lower volume, income before tax rose 45% to $74 million and net income increased 43% to $53 million, with diluted EPS of $1.15.
Profitability improved mainly from a lower Insurance Cost Ratio of 86% versus 90%, driven by lower claims development, a $21 million recovery of prior-year health care costs, and health-benefit repricing. Adjusted EBITDA grew to $128 million and Adjusted Net Income to $72 million, lifting Adjusted EBITDA margin to 10.9%.
The company launched its TriNet Assistant AI HR tool, completed the all-cash acquisition of leave-management provider Cocoon, and modestly grew ASO users. It ended June 30, 2026 with $358 million in cash and $896 million of long-term debt, after repurchasing 1,789,100 shares and paying quarterly dividends up to $0.29 per share.
TriNet Group’s Q1 2026 results show lower revenue but higher profitability. Total revenues were $1.226B, down 5% from Q1 2025, as co‑employed Average WSEs fell 12% to 300,215 due to client attrition, particularly in Technology, Professional Services and Main Street verticals after health benefits repricing.
Insurance costs dropped 9% to $856M, improving the insurance cost ratio to 84% from 88%. Net income rose to $89M (up 5%), with diluted EPS of $1.90. Adjusted EBITDA reached $186M, up 15%, and Adjusted Net Income was $116M, up 17%, helped by lower insurance costs and non‑GAAP adjustments.
TriNet ended March 31, 2026 with $340M in cash and cash equivalents and total debt of $896M. The company repurchased about 1.35 million shares for approximately $58M, paid a $0.275 per share dividend in January and declared a $0.29 dividend for Q2. It also recorded $14M in restructuring costs tied to workforce realignment and agreed to acquire leave‑management provider Cocoon for $23M to enhance its HR platform.
TriNet Group (TNET) reported Q3 2025 results. Total revenues were $1.232 billion as lower co‑employed worksite employees (WSEs) weighed on sales. Net income was $34 million with diluted EPS of $0.70. Income before tax was $50 million. The insurance cost ratio held at 90%, flat year over year, while Average WSEs fell 6% to 335,235 and Total WSEs declined 7% to 331,973, led by softness in Technology, Professional Services, Main Street, and Life Sciences.
Year to date, revenues were $3.762 billion and net income was $156 million (diluted EPS $3.19); ICR rose to 90% from 88% as higher medical and pharmacy costs outpaced pricing. Operating expenses decreased 2% in Q3. Cash and cash equivalents were $321 million with working capital of $249 million. Debt totaled $895 million; the $90 million revolver balance was repaid in July. Capital returns included $122 million in share repurchases and quarterly dividends of $0.275 per share in April and July, with another declared for October.
TriNet (TNET) Q2 2025 10-Q highlights: Total revenue was nearly flat at $1.24 B as 4% fewer average work-site employees (WSEs) were offset by higher pricing on professional and insurance services. Professional Service Revenue fell 8% to $172 M, while Insurance Service Revenue inched up 1% to $1.05 B. Rising medical utilization and specialty-drug spend lifted insurance costs 3%, pushing the Insurance Cost Ratio to 90% (vs. 88% LY). Operating expenses declined 2%, yet margin pressure drove income before tax down 37% to $51 M and net income down 38% to $37 M; diluted EPS slid to $0.77 from $1.20. Adjusted EBITDA dropped 23% to $105 M and margin narrowed to 8.5%.
Operational & liquidity points: Average WSEs fell 4% to 336,010 as client attrition and softer hiring hit the Technology, Professional Services, Main Street and Life Sciences verticals; co-employed WSEs declined 8% while platform-only users rose 56%. YTD operating cash flow improved 31% to $170 M, aiding a 13% rise in cash to $407 M and a 28% lift in corporate working capital to $254 M. Debt remained $984 M; the $90 M revolver balance was repaid in July. The company repurchased 1.23 M shares for $91 M (-92) and paid two $0.275 dividends, leaving $160 M available under its buyback authorization. Management continues a restructuring program (Q2 charge $2 M) and is assessing tax changes under the July 4 2025 OBBBA. All debt covenants were met.