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TriNet Announces Third Quarter 2021 Results 18 % Growth in Total Revenues to $ 1.1 Billion 24 % Growth in Professional Service Revenues to $ 156 Million Net Income per Diluted Share of $ 1.16 and Adjusted Net Income per Diluted Share $ 1.31 DUBLIN , Calif . ― October 25 , 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 third quarter ended September 30 , 2021. The third quarter highlights below include non - GAAP financial measures which are reconciled later in this release . Third quarter highlights include : • Total revenues increased 18 % to $ 1.1 billion as compared to the same period last year . • • Professional service revenues increased 24 % to $ 156 million as compared to the same period last year . Net income was $ 77 million , or $ 1.16 per diluted share , compared to net income of $ 33 million , or $ 0.48 per diluted share , in the same period last year . Adjusted Net Income was $ 87 million , or $ 1.31 per diluted share , compared to Adjusted Net Income of $ 39 million , or $ 0.56 per diluted share , in the same period last year . Adjusted EBITDA was $ 132 million , compared to Adjusted EBITDA of $ 69 million , in the same period last year . Total Worksite Employees ( WSEs ) increased 10 % compared to the same period last year , to approximately 351,000 . • Average WSEs increased 9 % as compared to the same period last year , to approximately 348,000 . • At September 30 , 2021 , TriNet had cash and cash equivalents of $ 525 million and total debt of $ 495 million . • Published TriNet's inaugural Environmental , Social and Governance Report . " Our third quarter operational and financial performance reflected our strong customer base and our commitment to provide them with the best possible HR experience , " said Burton M. Goldfield , TriNet's President and CEO . “ Our strategy of sourcing vibrant and durable customers across our core verticals has consistently led to growth in our installed base . During the third quarter , we saw this trend continue , with our customers hiring new employees at rates well in excess of both our projections and the broader economy's hiring rates . " Mr. Goldfield added , " Even as we further invest in our business and strengthen our ability to help our customers navigate the many HR complexities they are facing , TriNet has continued to deliver profitable growth , leveraging our scale and demonstrating operating leverage . We remain well positioned to build on our momentum in the fourth quarter . " 1