Question · Q4 2025
Devon, asking for Allen Lutz, inquired about any particular industries that experienced elevated administrative changes in membership and how client conversations regarding the labor market have evolved. Devon also asked for additional color on the pipeline despite some administrative churn.
Answer
Pete Anevski (CEO) stated that conversations regarding the labor force have not changed, and the current pipeline includes carryover from 2025. Mark Livingston (CFO) added that the administrative changes in membership were observed across various industries, with the common theme being lower apparent utilization rates among those clients.
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