Exponent (EXPO) FY2025 results: revenue $582 million, up 4.2% on the year

Exponent is a science and engineering consulting firm. Its scientists, physicians, engineers and business consultants, drawn from more than 90 technical disciplines, analyze accidents and failures and advise clients developing technologically complex products and processes. Many engagements come directly from large corporations or from lawyers or insurers whose clients are in, or preparing for, litigation over their products, equipment, processes or services. The firm traces its history to 1967, when the partnership Failure Analysis Associates was founded, and it took the name Exponent in 1998.

Who it works for

Clients are in the chemical, construction, consumer products, energy, food and beverage, government, life sciences, insurance, manufacturing, technology, industrial equipment and transportation sectors. Some could do the work in-house but hire Exponent or other independent consultants because of concerns about independence.

The practices

The firm runs 17 practices in two reportable segments. Engineering and Other Scientific covers biomechanics, biomedical engineering, civil and structural engineering, construction consulting, data sciences, electrical engineering and computer science, human factors, materials science and electrochemistry, mechanical engineering, metallurgical and corrosion engineering, polymers and chemistry, thermal sciences and vehicle engineering. Environmental and Health covers chemical regulation and food safety, ecological and biological sciences, environmental and earth sciences, and health sciences. Many projects draw on several practices at once.

What the work looks like

Biomechanics staff analyze injuries from vehicles, sporting goods, aircraft and industrial equipment and the protection given by restraint systems, airbags and helmets. Civil and structural engineers investigate failures and assess risks to buildings, bridges, tunnels, pipelines and nuclear power plant structures from hurricanes, floods, wildfires and earthquakes, and testify in courts. Electrical engineers work on power system failures and the safety of large batteries such as those in electric vehicles. Vehicle engineers have performed thousands of investigations for the automotive, trucking, marine, aerospace and rail industries. Health scientists, including epidemiologists and toxicologists, assess human health risks from chemicals, pharmaceuticals and industrial processes. Its Test and Engineering Center in Phoenix, Arizona handles its most complex testing and analysis.

How it charges

Work is done project by project, on a fixed-price basis or on time and materials. Standard rates for its professionals range from $225 to $1,375 per hour, rising at the start of each fiscal year. Engagements are typically billed monthly and clients can end them at any time. Billable hours were 1,468,000 in 2025, and utilization was 73%.

Competition and people

The company describes its market as fragmented, with low barriers to entry in many of its technical disciplines. As of January 2, 2026 it employed 1,212 people, including 949 engineering and scientific staff, and 731 of its employees hold doctorate degrees. Approximately 89% of employees are in the United States.

From Exponent's annual report on Form 10-K for the year ended 2 January 2026. The filing

Written from the 10-K filed 27 February 2026: read the full 10-K.