TRINET GROUP, INC.

For the period ended Sep 30, 2025. Filed Oct 29, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Oct 29, 2025

TNET$64.63-3.0%Stored close · as of Nov 9, 2026

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Contents

Condensed Consolidated Balance Sheets

FINANCIAL STATEMENTS	Table of Contents

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

	September 30,	December 31,
(in millions, except share and per share data)	2025	2024
Assets
Current assets:
Cash and cash equivalents	$321	$360
Restricted cash, cash equivalents and investments	1,108	1,413
Accounts receivable, net	10	32
Payroll funds receivable	476	349
Prepaid expenses, net	53	64
Other payroll assets	481	916
Other current assets	49	46
Total current assets	2,498	3,180
Restricted cash, cash equivalents and investments, noncurrent	125	145
Property and equipment, net	11	10
Operating lease right-of-use asset	37	24
Goodwill	461	461
Software and other intangible assets, net	151	156
Other assets	142	143
Total assets	$3,425	$4,119
Liabilities and stockholders' equity
Current liabilities:
Accounts payable and other current liabilities	$89	$89
Revolving credit agreement borrowings	—	75
Client deposits and other client liabilities	43	76
Accrued wages	549	580
Accrued health insurance costs, net	197	189
Accrued workers' compensation costs, net	45	44
Payroll tax liabilities and other payroll withholdings	1,308	1,906
Operating lease liabilities	10	13
Insurance premiums and other payables	8	9
Total current liabilities	2,249	2,981
Long-term debt, noncurrent	895	908
Accrued workers' compensation costs, noncurrent, net	110	110
Deferred taxes	9	11
Operating lease liabilities, noncurrent	38	26
Other non-current liabilities	14	14
Total liabilities	3,315	4,050
Commitments and contingencies (see Note 5)
Stockholders' equity:
Preferred stock	—	—
($0.000025 par value per share; 20,000,000 shares authorized; no shares issued or outstanding at September 30, 2025 and December 31, 2024)
Common stock and additional paid-in capital	1,112	1,056
($0.000025 par value per share; 750,000,000 shares authorized; 48,210,700 and 49,527,506 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively)
Accumulated deficit	(1,002)	(984)
Accumulated other comprehensive loss	—	(3)
Total stockholders' equity	110	69
Total liabilities & stockholders' equity	$3,425	$4,119

TRINET	30	2025 Q3 FORM 10-Q

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.