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TriNet Announces Second Quarter 2021 Results 16 % Growth in Total Revenues to $ 1.1 Billion for the Second Quarter 2021 $ 1.37 in Net Income per Diluted Share and $ 1.56 in Adjusted Net Income per Diluted Share for the Second Quarter 2021 DUBLIN , Calif . — July 26 , 2021 - TriNet Group , Inc. ( NYSE : TNET ) , a leading provider of comprehensive human resources solutions for small and medium - size businesses , today announced financial results for the second quarter ended June 30 , 2021. The second quarter highlights below include non - GAAP financial measures which are reconciled later in this release . Second quarter highlights include : • Total revenues increased 16 % to $ 1.1 billion as compared to the same period last year . • • Net income was $ 91 million , or $ 1.37 per diluted share , compared to net income of $ 126 million , or $ 1.87 per diluted share , in the same period last year . Adjusted Net Income was $ 104 million , or $ 1.56 per diluted share , compared to Adjusted Net Income of $ 136 million , or $ 2.03 per diluted share , in the same period last year . • • Adjusted EBITDA was $ 154 million , compared to Adjusted EBITDA of $ 199 million , in the same period last year . Total Worksite Employees ( WSES ) increased 9 % compared to the same period last year , to approximately 340,000 . Average WSEs increased 6 % as compared to the same period last year , to approximately 333,000 . " During the second quarter , TriNet once again prioritized the needs of all of our stakeholders , " said Burton M. Goldfield , TriNet's President and CEO . " As a result , we delivered strong financial and operational results . Through our customer selection process , we have a vibrant and durable customer base . We support them with traditional HR functions as well as strategic HR questions as they navigate the economic reopening . Our customers continue to grow with us by hiring new employees at record rates . As we look to the second half of 2021 , we are encouraged by the business environment , we will continue to support our customers , and we expect to continue to grow . " TriNet's total revenues for the second quarter of 2021 increased 16 % from the second quarter of 2020 to $ 1.1 billion . Professional service revenues for the second quarter of 2021 increased 29 % compared to the second quarter of 2020 . At June 30 , 2021 , TriNet had cash and cash equivalents of $ 464 million and total debt of $ 495 million . Third Quarter and Full - Year 2021 Guidance In addition to announcing our second quarter 2021 results , we provide our third quarter and full - year 2021 guidance . Non - GAAP financial measures are reconciled later in this release . Percentages reflect the increase or ( decrease ) from the prior year quarter and prior year end . Total Revenues Professional Service Revenues Net Insurance Margin Ratio of Insurance Costs to Insurance Service Revenues Diluted net income per share of common stock Adjusted Net Income per share - diluted Q3 2021 Full Year 2021 Low High Low High 15 % 15 % 17 % 20 % 10 % 13 % 12 % 15 % 8.5 % 10.5 % 11.5 % 12.5 % 91.5 % 89.5 % 88.5 % 87.5 % EA EA $ 0.48 $ 0.72 $ 3.60 $ 4.03 $ 0.62 $ 0.87 $ 4.25 $ 4.70 1