Korn Ferry delivered a resilient Q3 FY2025, underscored by durable revenue streams across its diversified services and continued progress in high-value, large-scale engagements. Reported fee revenue of $676.5 million, flat year over year, with strong profitability and cash flow generation. Adjusted EBITDA rose 13% YoY to $114 million and the adjusted EBITDA margin expanded to 17.1%, signaling effective mix shifts toward higher-margin advisory and talent solutions. Management reiterated momentum into Q4 with guided fee revenue of $680–$700 million and an adjusted EBITDA margin of ~16.8–17%. The company also raised the quarterly dividend by 30% (sixth increase in five years) and deployed capital toward acquisitions and buybacks, highlighting a disciplined capital-allocation framework. Looking ahead, Korn Ferry emphasizes a favorable long-term TAM driven by labor-market imbalances, upskilling needs, and continued demand for large transformations, while acknowledging macro headwinds in the near term. The earnings narrative combines durable, recurring revenue from marquee and diamond accounts, growing RPO backlog, and a strategic pivot toward higher-impact, multi-quarter engagements that balance growth with profitability.