Form 8-K
8-K — TRINET GROUP, INC.
Accession: 0000937098-26-000048
Filed: 2026-07-30
Period: 2026-07-30
CIK: 0000937098
SIC: 7389 (SERVICES-BUSINESS SERVICES, NEC)
Item: Results of Operations and Financial Condition
Item: Financial Statements and Exhibits
Documents
8-K — tnet-20260730.htm (Primary)
EX-99.1 (tnet-063026xexhibit991.htm)
GRAPHIC (tnet-20260730_g1.jpg)
XML — IDEA: XBRL DOCUMENT (R1.htm)
XML — IDEA: XBRL DOCUMENT (R2.htm)
8-K
8-K (Primary)
Filename: tnet-20260730.htm · Sequence: 1
tnet-20260730
0000937098False00009370982026-07-302026-07-30
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 30, 2026
TRINET GROUP, INC.
(Exact name of registrant as specified in its charter)
Delaware 001-36373 95-3359658
(State or other jurisdiction of
incorporation or organization) (Commission File Number) (I.R.S. Employer
Identification No.)
One Park Place, Suite 600
Dublin, CA 94568
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (510) 352-5000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common stock par value $0.000025 per share TNET New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 2.02 Results of Operations and Financial Condition
On July 30, 2026, TriNet Group, Inc. (the “Company”) issued a press release announcing the Company’s financial and operating results for the quarter ended June 30, 2026. A copy of the press release, entitled “TriNet Announces Second Quarter 2026 Results & Raises FY26 Earnings Guidance” is furnished as Exhibit 99.1 hereto and incorporated by reference.
The information in this Current Report on Form 8-K and the exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit
Number Description
99.1
Press Release, dated July 30, 2026, entitled “TriNet Announces Second Quarter 2026 Results & Raises FY26 Earnings Guidance"
104 Cover Page Interactive Data File (embedded with the Inline XBRL document)
INDEX TO EXHIBITS
Exhibit
Number Description
99.1
Press Release, dated July 30, 2026, entitled “TriNet Announces Second Quarter 2026 Results & Raises FY26 Earnings Guidance"
104 Cover Page Interactive Data File (embedded with the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
TriNet Group, Inc.
Date: July 30, 2026 By: /s/ Sidney Majalya
Sidney Majalya
Senior Vice President, Chief Legal Officer and Secretary
EX-99.1
EX-99.1
Filename: tnet-063026xexhibit991.htm · Sequence: 2
Document
Exhibit 99.1
TriNet Announces Second Quarter 2026 Results & Raises FY26 Earnings Guidance
50% Growth in GAAP Earnings per Diluted Share to $1.15 for the Second Quarter 2026
35% Growth in Adjusted Net Income per Diluted Share to $1.55 for the Second Quarter 2026
DUBLIN, Calif. — July 30, 2026 — TriNet Group, Inc. (NYSE: TNET), a leading provider of comprehensive and flexible human capital management (HCM) solutions for small and medium-size businesses (SMBs), today announced financial results for the second quarter ended June 30, 2026. The second quarter highlights below include non-GAAP financial measures which are reconciled later in this release.
“Our second quarter results reflect the progress we are making in delivering on our plan,” said Mike Simonds, TriNet’s President and CEO. “We increased our retention, managed costs, improved our bottom-line performance, and raised our full year earnings guidance.”
Simonds continued, “We are gaining traction across several initiatives. We expect further sales-force growth, channel activity is increasing, and our AI investments are driving an improved service experience. As we look to the second half, we are well positioned for the fall selling season.”
Second quarter highlights include:
•Total revenues decreased 5% to $1.2 billion compared to the same period last year.
•Professional service revenues decreased 8% to $159 million compared to the same period last year.
•Net income was $53 million, or $1.15 per diluted share, compared to net income of $37 million, or $0.77 per diluted share, in the same period last year.
•Adjusted Net Income was $72 million, or $1.55 per diluted share, compared to Adjusted Net Income of $55 million, or $1.15 per diluted share, in the same period last year.
•Adjusted EBITDA was $128 million, representing an Adjusted EBITDA Margin of 10.9%, compared to Adjusted EBITDA of $105 million, representing an Adjusted EBITDA Margin of 8.5% in the same period last year.
•Average Worksite Employees (WSEs) decreased 11% as compared to the same period last year, to approximately 298,000.
•Generated $88 million in Net cash provided by operating activities, and $67 million in Free Cash Flow.
Full-Year 2026 Guidance
In addition to announcing our second quarter 2026 results, we are revising our full-year 2026 guidance. Non-GAAP financial measures are reconciled later in this release.
Full Year 2026
(dollars in millions, except for per share amounts) Low High
Total Revenues $ 4,750 $ 4,900
Professional Service Revenues $ 647 $ 663
Insurance Cost Ratio 89.50 % 88.50 %
Adjusted EBITDA Margin 8.5 % 9.0 %
Diluted net income per share of common stock $ 2.85 $ 3.35
Adjusted Net Income per share - diluted $ 4.50 $ 5.10
Quarterly Report on Form 10-Q
We anticipate filing our Quarterly Report on Form 10-Q (“Form 10-Q”) for the first half of 2026 with the U.S. Securities and Exchange Commission (SEC) and making it available at https://www.trinet.com on or about July 30, 2026. This press release should be read in conjunction with the Form 10-Q and the related Notes to Consolidated Financial Statements and Management's Discussion and Analysis of Financial Condition and Results of Operations contained in the Form 10-Q.
1
Earnings Conference Call and Audio Webcast
TriNet will host a conference call at 5:30 a.m. PT today to discuss its second quarter results for 2026. TriNet encourages participants to pre-register for the webcast. The live webcast of the conference call can be accessed on the Investor Relations section of TriNet’s website at https://investor.trinet.com. Participants can pre-register for the webcast by going to: https://events.q4inc.com/attendee/927481617. Callers can pre-register for the conference call by going to: https://dpregister.com/sreg/10210705/1048397dc5d. For those who would like to join the call but have not pre-registered, they can do so by dialing +1 (412) 317-5426 and requesting the "TriNet Conference Call." A replay of the webcast will be available on this website for approximately one year. A telephonic replay will be available for two weeks following the conference call at +1 (412) 317-0088 conference ID: 5964638.
About TriNet
TriNet is a leading provider of Human Resources solutions for small and medium size businesses, offering advanced technology-enabled services that include human capital expertise, employee benefits such as health insurance and retirement plans, payroll and payroll tax administration, risk mitigation, and compliance consulting. Our long-term objective is to be the premier provider of HR services for a broad range of SMBs through industry leading benefits, sales distribution excellence, and a world class services delivery model. For more information, please visit TriNet.com or follow us on Facebook, LinkedIn and Instagram.
Use of Non-GAAP Financial Measures
Reconciliations of non-GAAP financial measures to TriNet’s financial results as determined in accordance with GAAP are included at the end of this press release following the accompanying financial data. For a description of these non-GAAP financial measures, including the reasons management uses each measure, please see the section titled “Non-GAAP Financial Measures.”
Forward-Looking Statements
This press release contains, and statements made during the above referenced conference call will contain, statements that are not historical in nature, are predictive in nature, or that depend upon or refer to future events or conditions or otherwise contain forward-looking statements within the meaning of Section 21 of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including, among other things, TriNet’s expectations and assumptions regarding: TriNet's financial guidance for the full-year 2026 and the underlying assumptions; TriNet’s mid-term outlook, market positioning, and the underlying assumptions; TriNet’s on-going AI investments, including the development of TriNet Assistant, and its ability to deliver improved service experiences; TriNet's ability to build momentum in its business, including through sales force growth; and TriNet’s ability to execute on our strategy. Forward-looking statements are often identified by the use of words such as, but not limited to, “ability,” “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “expect,” "goal," "guidance," “impact,” “intend,” “may,” "objective," “plan,” “project,” “should,” “strategy,” "support," “will,” “would” and similar expressions or variations intended to identify forward-looking statements. These statements are not guarantees of future performance but are based on management’s expectations as of the date hereof and assumptions that are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from our current expectations and any past or future results, performance or achievements expressed or implied by the forward-looking statements. Investors are cautioned not to place undue reliance upon any forward-looking statements.
2
Important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements include: our ability to manage unexpected changes in workers’ compensation and health insurance claims and costs, including by WSEs; our ability to mitigate the distinct business risks we face as a co-employer; the effects of volatility in the financial and economic environment on the businesses that make up our client base; our inability to realize or sustain the expected benefits from our business realignment initiatives, and any associated increases in costs as a result of these initiatives; loss of clients for reasons beyond our control and the short-term contracts we typically use with our clients; the impact of regional or industry-specific economic and health factors on our operations; the impact of failures or limitations in the business systems and centers we rely upon; changes in our insurance coverage or our relationships with key insurance carriers; our ability to improve our services and technology to satisfy client and regulatory expectations, including with respect to artificial intelligence; our ability to effectively integrate businesses we have acquired or may acquire in the future; our ability to effectively manage and improve our operational effectiveness and resiliency; our ability to price our services at rates that our clients continue to find attractive; our ability to attract and retain qualified personnel; the effects of increased competition and our ability to compete effectively; the impact on our business of cyber-attacks, breaches, disclosures and other data-related incidents; our ability to comply with evolving data privacy, artificial intelligence and security laws; our ability to manage changes in, uncertainty regarding, or adverse application of the complex laws and regulations that govern our business; changing laws and regulations governing health insurance and employee benefits; the incurrence of losses related to employee retention tax credit claims filed on behalf of our clients; our ability to keep pace with changes in technology or provide timely enhancements to our solutions and support, including with respect to artificial intelligence; risks associated with our international operations, including potential political or economic risks; our ability to operate a business subject to numerous complex laws; changing laws and regulations governing health insurance and other traditional employee benefits at the federal, state, and local levels; our ability to be recognized as an employer of worksite employees and for our benefits plans to satisfy all requirements under federal and state regulations; changes in the laws and regulations that govern what it means to be an employer, employee or independent contractor; the impact of new and changing laws regarding remote work; our ability to comply with the licensing requirements that govern our solutions; the failure of third-party service providers performing their functions; the failure to comply with anti-corruption laws and regulations, economic and trade sanctions, and similar laws; the outcome of existing and future legal and tax proceedings; fluctuation in our results of operations, stock price and maintenance of performance measures year over year due to factors outside of our control; our ability to comply with the restrictions of our indebtedness and meet our debt obligations; the need for additional capital or to restructure our existing debt; the continuation of our stock repurchase program; and the impact of concentrated ownership in our stock by Atairos and other large stockholders and the anti-takeover provisions in our charter documents and under Delaware law. Any of these factors could cause our actual results to differ materially from our anticipated results.
Further information on risks that could affect TriNet’s results is included in our filings with the SEC, including under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available on our investor relations website at http://investor.trinet.com and on the SEC website at www.sec.gov. Copies of these filings are also available by contacting TriNet Corporation's Investor Relations Department at Investorrelations@TriNet.com. Except as required by law, neither we nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements in this press release, and any forward-looking statements in this press release speak only as of the date of this press release. In addition, we do not assume any obligation, and do not intend, to update any of our forward-looking statements, except as required by law.
Contacts:
Investors: Media:
Alex Bauer Renee Brotherton / Josh Gross
TriNet TriNet
Investorrelations@TriNet.com Renee.Brotherton@TriNet.com
Josh.Gross@TriNet.com
3
FINANCIAL HIGHLIGHTS
Key Financial and Operating Metrics
We regularly review certain key financial and operating metrics to evaluate growth trends, measure our performance and make strategic decisions. These key financial and operating metrics may change over time. Our key financial and operating metrics for the periods presented were as follows:
Three Months Ended June 30, Six Months Ended June 30,
(in millions, except per share and Operating Metrics data) 2026 2025 % Change 2026 2025 % Change
Income Statement Data:
Total revenues $ 1,178 $ 1,238 (5) % $ 2,404 $ 2,530 (5) %
Income before tax 74 51 45 197 166 19
Net income 53 37 43 142 122 16
Diluted net income per share of common stock 1.15 0.77 50 3.05 2.48 23
Non-GAAP measures (1):
Adjusted EBITDA 128 105 22 314 268 17
Adjusted Net income 72 55 31 188 154 22
Free Cash Flow 190 136 40
Operating Metrics:
Insurance Cost Ratio 86 % 90 % (4) % 85 % 89 % (4)
Average WSEs 297,615 336,010 (11) 298,916 338,377 (12) %
Total WSEs 299,655 338,900 (12) 299,655 338,900 (12)
(1) Refer to Non-GAAP measures definitions and reconciliations from GAAP measures under the heading "Non-GAAP Financial Measures"
(in millions) June 30, 2026 December 31, 2025 % Change
Balance Sheet Data:
Cash and cash equivalents $ 358 $ 287 25 %
Working capital 275 231 19
Total assets 3,346 3,797 (12)
Debt 896 895 —
Total stockholders’ equity 125 54 131
Six Months Ended June 30,
(in millions) 2026 2025 % Change
Cash Flow Data:
Net cash provided by operating activities $ 237 $ 170 39 %
Net cash used in investing activities (84) (7) 1,100
Net cash used in financing activities (757) (428) 77
4
FINANCIAL STATEMENTS
TRINET GROUP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited)
Three Months Ended June 30, Six Months Ended June 30,
(in millions except per share data) 2026 2025 2026 2025
Professional service revenues
$ 159 $ 172 $ 348 $ 381
Insurance service revenues
1,007 1,048 2,030 2,113
Interest income 12 18 26 36
Total revenues
1,178 1,238 2,404 2,530
Insurance costs
867 947 1,723 1,889
Cost of providing services
65 71 135 142
Sales and marketing
66 68 135 135
General and administrative
56 52 115 98
Systems development and programming
17 17 36 37
Depreciation and amortization of intangible assets
19 17 36 34
Interest expense, bank fees and other 14 15 27 29
Total costs and operating expenses
1,104 1,187 2,207 2,364
Income before tax 74 51 197 166
Income taxes 21 14 55 44
Net income $ 53 $ 37 $ 142 $ 122
Other comprehensive income, net of income taxes (1) 1 (3) 3
Comprehensive income
$ 52 $ 38 $ 139 $ 125
Net income per share:
Basic
$ 1.16 $ 0.77 $ 3.07 $ 2.49
Diluted
$ 1.15 $ 0.77 $ 3.05 $ 2.48
Weighted average shares:
Basic
46 48 46 49
Diluted
46 49 47 49
5
FINANCIAL STATEMENTS
TRINET GROUP, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
June 30, December 31,
(in millions, except share and per share data) 2026 2025
Assets
Current assets:
Cash and cash equivalents
$ 358 $ 287
Restricted cash, cash equivalents and investments
1,039 1,694
Accounts receivable, net
3 20
Payroll funds receivable 428 264
Prepaid expenses, net 53 82
Other payroll assets 427 474
Other current assets
76 47
Total current assets 2,384 2,868
Restricted cash, cash equivalents and investments, noncurrent 122 128
Property and equipment, net 27 11
Operating lease right-of-use asset 40 36
Goodwill 465 461
Software and other intangible assets, net 173 153
Other assets 135 140
Total assets $ 3,346 $ 3,797
Liabilities and stockholders' equity
Current liabilities:
Accounts payable and other current liabilities
$ 103 $ 86
Client deposits and other client liabilities
76 57
Accrued wages
547 555
Accrued health insurance costs, net
189 207
Accrued workers' compensation costs, net
42 42
Payroll tax liabilities and other payroll withholdings
1,134 1,671
Operating lease liabilities
10 10
Insurance premiums and other payables
8 9
Total current liabilities 2,109 2,637
Long-term debt, noncurrent 896 895
Accrued workers' compensation costs, noncurrent, net 104 106
Deferred taxes 54 55
Operating lease liabilities, noncurrent 44 37
Other non-current liabilities 14 13
Total liabilities 3,221 3,743
Total stockholders' equity 125 54
Total liabilities & stockholders' equity $ 3,346 $ 3,797
6
FINANCIAL STATEMENTS
TRINET GROUP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
Six Months Ended June 30,
(in millions) 2026 2025
Operating activities
Net income
$ 142 $ 122
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of intangible assets 36 33
Amortization of deferred costs 26 23
Amortization of ROU asset, lease modification, impairment, and abandonment 4 3
Deferred income taxes — (1)
Stock based compensation 33 31
Loss from disposition of assets — 1
Other 2 3
Changes in operating assets and liabilities:
Accounts receivable, net
1 1
Prepaid expenses, net 25 9
Other assets (29) (18)
Accounts payable and other liabilities 11 (5)
Client deposits and other client liabilities (2) (1)
Accrued wages (6) (10)
Accrued health insurance costs, net — 1
Accrued workers' compensation costs, net (2) (1)
Payroll taxes liabilities and other payroll withholdings (2) (14)
Operating lease liabilities (2) (7)
Net cash provided by operating activities 237 170
Investing activities
Purchases of marketable securities
(76) (41)
Proceeds from sale and maturity of marketable securities 61 67
Acquisitions of property and equipment and software (47) (34)
Proceeds from sale of business — 1
Acquisition of subsidiary, net of cash acquired (22) —
Net cash used in investing activities
(84) (7)
Financing activities
Change in WSE and TriNet Trust related assets and liabilities, net (655) (310)
Repurchase of common stock
(76) (91)
Proceeds from issuance of common stock
5 7
Awards effectively repurchased for required employee withholding taxes
(5) (8)
Dividends paid (26) (26)
Net cash used in financing activities (757) (428)
Effect of exchange rate changes on cash and cash equivalents (1) —
Net change in cash and cash equivalents, unrestricted and restricted (605) (265)
Cash and cash equivalents, unrestricted and restricted:
Beginning of period
1,902 1,691
End of period
$ 1,297 $ 1,426
Supplemental disclosures of cash flow information
Interest paid
$ 25 $ 27
Income taxes paid, net $ 8 $ 26
Supplemental schedule of noncash investing and financing activities
Cash dividend declared, but not yet paid $ 13 $ 13
Payable for purchase of property and equipment $ 9 $ 3
Receivable from sale of business $ — $ 6
7
FINANCIAL STATEMENTS
Non-GAAP Financial Measures
In addition to the selected financial measures presented in accordance with U.S. Generally Accepted Accounting Principles (GAAP), we monitor other non-GAAP financial measures that we use to manage our business, to make planning decisions, to allocate resources and to use as performance measures in our executive compensation plan. These key financial measures provide an additional view of our operational performance over the long term and provide information that we use to maintain and grow our business.
The presentation of these non-GAAP financial measures is used to enhance the understanding of certain aspects of our financial performance. It is not meant to be considered in isolation from, superior to, or as a substitute for the directly comparable financial measures prepared in accordance with GAAP.
Non-GAAP Measure Definition How We Use The Measure
Adjusted EBITDA
• Net income, excluding the effects of:
- income tax provision,
- stock based compensation expense
- interest expense, bank fees and other,
- depreciation,
- amortization of intangible assets,
- amortization of cloud computing arrangements,
- restructuring costs, and
- transaction and integration costs.
• Provides period-to-period comparisons on a consistent basis and an understanding as to how our management evaluates the effectiveness of our business strategies by excluding certain non-recurring costs, which include restructuring costs and transaction and integration costs, as well as certain non-cash charges such as depreciation and amortization, and stock-based compensation and certain impairment charges recognized based on the estimated fair values. We believe these charges are either not directly resulting from our core operations or not indicative of our ongoing operations.
• Enhances comparisons to the prior period and, accordingly, facilitates the development of future projections and earnings growth prospects.
• Provides a measure, among others, used in the determination of incentive compensation for management.
• We also sometimes refer to Adjusted EBITDA margin, which is the ratio of Adjusted EBITDA to total revenues.
Adjusted Net Income
• Net income, excluding the effects of:
- effective income tax rate (1),
- stock based compensation expense,
- amortization of intangible assets, net,
- non-cash interest expense,
- restructuring costs
- transaction and integration costs, and
- the income tax effect (at our effective tax rate (1) of these pre-tax adjustments.)
• Provides information to our stockholders and board of directors to understand how our management evaluates our business, to monitor and evaluate our operating results, and analyze profitability of our ongoing operations and trends on a consistent basis by excluding certain non-cash charges.
Free Cash Flow
• Net cash provided by operating activities reduced by capital expenditures • Provides information on the strength of our liquidity and available cash.
• Provides management with a measure to assist in making planning decisions, evaluate our performance and allocate resources.
• We also sometimes refer to Free Cash Flow Conversion ratio, which is the ratio of free cash flow to Adjusted EBITDA.
(1) Non-GAAP effective tax rate is 25.5% and 25% for second quarters and full years of 2026 and 2025, respectively, which excludes the income tax impact from stock-based compensation, changes in uncertain tax positions, and nonrecurring benefits or expenses from federal legislative changes.
8
FINANCIAL STATEMENTS
Reconciliation of GAAP to Non-GAAP Measures
The table below presents a reconciliation of Net income to Adjusted EBITDA:
Three Months Ended June 30, Six Months Ended June 30,
(in millions)
2026 2025 2026 2025
Net income $ 53 $ 37 $ 142 $ 122
Provision for income taxes
21 14 55 44
Stock based compensation
17 18 33 31
Interest expense, bank fees and other 14 15 27 29
Depreciation and amortization of intangible assets 19 17 36 34
Amortization of cloud computing arrangements 3 2 6 5
Restructuring costs (1) 2 13 3
Acquisition and integration costs 2 — 2 —
Adjusted EBITDA $ 128 $ 105 $ 314 $ 268
Adjusted EBITDA Margin
10.9 % 8.5 % 13.1 % 10.6 %
The table below presents a reconciliation of Net income to Adjusted Net Income and Adjusted Net Income per share - diluted:
Three Months Ended June 30, Six Months Ended
June 30,
(in millions, except per share data) 2026 2025 2026 2025
Net income $ 53 $ 37 $ 142 $ 122
Effective income tax rate adjustment 2 1 5 2
Stock based compensation 17 18 33 31
Amortization of intangible assets 3 3 5 5
Non-cash interest expense 1 — 1 1
Restructuring costs (1) 2 13 3
Acquisition and integration costs 2 — 2 —
Income tax impact of pre-tax adjustments (5) (6) (13) (10)
Adjusted Net Income $ 72 $ 55 $ 188 $ 154
GAAP weighted average shares of common stock - diluted 46 49 47 49
Adjusted Net Income per share - diluted $ 1.55 $ 1.15 $ 4.04 $ 3.15
The table below presents a reconciliation of Net cash provided by operating activities to Free Cash Flow:
Three Months Ended June 30, Six Months Ended
June 30,
(in millions) 2026 2025 2026 2025
Net cash provided by operating activities $ 88 $ 75 $ 237 $ 170
Acquisitions of property and equipment and software (21) (18) (47) (34)
Free Cash Flow (a) $ 67 $ 57 $ 190 $ 136
Adjusted EBITDA (b) $ 128 $ 105 $ 314 $ 268
Free Cash Flow Conversion Ratio (a)/(b) 52 % 54 % 61 % 51 %
9
FINANCIAL STATEMENTS
Reconciliation of GAAP to Non-GAAP Measures for the full-year 2026 guidance.
Low and high percentages represent increases (decreases) from the same period in the previous year.
The table below presents a reconciliation of net income to Adjusted Net Income and Adjusted Net Income per share - diluted:
FY 2025 Year 2026 Guidance
(in millions, except per share data) Actual Low High
Net income $155 (15)% —%
Effective income tax rate adjustment 8 (66) (67)
Stock based compensation 65 4 4
Amortization of intangible assets 10 16 16
Non-cash interest expense 3 (62) (62)
Restructuring costs 11 71 133
Income tax impact of pre-tax adjustments (22) 14 22
Adjusted Net Income $230 (10)% 3%
GAAP weighted average shares of common stock - diluted 49
Adjusted Net Income per share - diluted $4.73 $4.50 $5.10
10
GRAPHIC
GRAPHIC
Filename: tnet-20260730_g1.jpg · Sequence: 6
Binary file (10530 bytes)
Download tnet-20260730_g1.jpg
XML — IDEA: XBRL DOCUMENT
XML
Filename: R1.htm · Sequence: 8
v3.26.1
Cover Cover
Jul. 30, 2026
Cover [Abstract]
Document Type
8-K
Document Period End Date
Jul. 30, 2026
Entity Registrant Name
TRINET GROUP, INC.
Entity Incorporation, State or Country Code
DE
Entity File Number
001-36373
Entity Tax Identification Number
95-3359658
Entity Address, Address Line One
One Park Place, Suite 600
Entity Address, City or Town
Dublin,
Entity Address, State or Province
CA
Entity Address, Postal Zip Code
94568
City Area Code
510
Local Phone Number
352-5000
Written Communications
false
Soliciting Material
false
Pre-commencement Tender Offer
false
Pre-commencement Issuer Tender Offer
false
Title of 12(b) Security
Common stock par value $0.000025 per share
Trading Symbol
TNET
Security Exchange Name
NYSE
Entity Emerging Growth Company
false
X
- Definition
Area code of city
+ References
No definition available.
+ Details
Name:
dei_CityAreaCode
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Cover page.
+ References
No definition available.
+ Details
Name:
dei_CoverAbstract
Namespace Prefix:
dei_
Data Type:
xbrli:stringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
No definition available.
+ Details
Name:
dei_DocumentPeriodEndDate
Namespace Prefix:
dei_
Data Type:
xbrli:dateItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
No definition available.
+ Details
Name:
dei_DocumentType
Namespace Prefix:
dei_
Data Type:
dei:submissionTypeItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Address Line 1 such as Attn, Building Name, Street Name
+ References
No definition available.
+ Details
Name:
dei_EntityAddressAddressLine1
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the City or Town
+ References
No definition available.
+ Details
Name:
dei_EntityAddressCityOrTown
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Code for the postal or zip code
+ References
No definition available.
+ Details
Name:
dei_EntityAddressPostalZipCode
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the state or province.
+ References
No definition available.
+ Details
Name:
dei_EntityAddressStateOrProvince
Namespace Prefix:
dei_
Data Type:
dei:stateOrProvinceItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Indicate if registrant meets the emerging growth company criteria.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityEmergingGrowthCompany
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
No definition available.
+ Details
Name:
dei_EntityFileNumber
Namespace Prefix:
dei_
Data Type:
dei:fileNumberItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Two-character EDGAR code representing the state or country of incorporation.
+ References
No definition available.
+ Details
Name:
dei_EntityIncorporationStateCountryCode
Namespace Prefix:
dei_
Data Type:
dei:edgarStateCountryItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityRegistrantName
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityTaxIdentificationNumber
Namespace Prefix:
dei_
Data Type:
dei:employerIdItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Local phone number for entity.
+ References
No definition available.
+ Details
Name:
dei_LocalPhoneNumber
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 13e
-Subsection 4c
+ Details
Name:
dei_PreCommencementIssuerTenderOffer
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14d
-Subsection 2b
+ Details
Name:
dei_PreCommencementTenderOffer
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Title of a 12(b) registered security.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b
+ Details
Name:
dei_Security12bTitle
Namespace Prefix:
dei_
Data Type:
dei:securityTitleItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the Exchange on which a security is registered.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
+ Details
Name:
dei_SecurityExchangeName
Namespace Prefix:
dei_
Data Type:
dei:edgarExchangeCodeItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14a
-Subsection 12
+ Details
Name:
dei_SolicitingMaterial
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Trading symbol of an instrument as listed on an exchange.
+ References
No definition available.
+ Details
Name:
dei_TradingSymbol
Namespace Prefix:
dei_
Data Type:
dei:tradingSymbolItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
+ Details
Name:
dei_WrittenCommunications
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
XML — IDEA: XBRL DOCUMENT
XML
Filename: R2.htm · Sequence: 9
v3.26.1
Cover Non-printing
Jul. 30, 2026
Cover [Abstract]
Entity Central Index Key
0000937098
Amendment Flag
false
No Trading Symbol Flag
X
- Definition
Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.
+ References
No definition available.
+ Details
Name:
dei_AmendmentFlag
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Cover page.
+ References
No definition available.
+ Details
Name:
dei_CoverAbstract
Namespace Prefix:
dei_
Data Type:
xbrli:stringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityCentralIndexKey
Namespace Prefix:
dei_
Data Type:
dei:centralIndexKeyItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true only for a security having no trading symbol.
+ References
No definition available.
+ Details
Name:
dei_NoTradingSymbolFlag
Namespace Prefix:
dei_
Data Type:
dei:trueItemType
Balance Type:
na
Period Type:
duration