Quarterly Report for Quarter Ending June 30, 2024 (Form 10-Q)

MASTECH DIGITAL, INC.

QUARTERLY REPORT ON FORM 10-Q

FOR THE QUARTER ENDED JUNE 30, 2024

TABLE OF CONTENTS

2

You should read the following discussion in conjunction with our audited consolidated financial statements and accompanying notes for the year ended December 31, 2023, included in our Annual Report on Form 10-K,filed with the Securities and Exchange Commission ("SEC") on March 15, 2024.

This quarterly report on Form 10-Qcontains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about future events, future performance, plans, strategies, expectations, prospects, competitive environment and regulations. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words, "may", "will", "expect", "anticipate", "believe", "estimate", "plan", "intend" or the negative of these terms or similar expressions in this quarterly report on Form 10-Q.We have based these forward-looking statements on our current views with respect to future events and financial performance. Our actual financial performance could differ materially from those projected in the forward-looking statements due to the inherent uncertainty of estimates, forecasts and projections and our financial performance may be better or worse than anticipated. Given these uncertainties, you should not put undue reliance on any forward-looking statements. All of the forward-looking statements are qualified in their entirety by reference to the factors discussed under "Risk Factors", "Forward-Looking Statements" and elsewhere in our Annual Report on Form 10-Kfor the year ended December 31, 2023. Forward-looking statements represent our estimates and assumptions only as of the date that they were made. We do not undertake any duty to update forward-looking statements, and the estimates and assumptions associated with them, after the date of this quarterly report on Form 10-Q,except to the extent required by applicable securities laws.

Website Access to SEC Reports:

The Company's website is www.mastechdigital.com. The Company's Annual Report on Form 10-Kfor the year ended December 31, 2023, current reports on Form 8-Kand all other reports filed with the SEC, are available free of charge on the Investors page. The website is updated as soon as reasonably practical after such reports are filed electronically with the SEC.

Critical Accounting Policies

Please refer to Note 1 "Summary of Significant Accounting Policies" of the Consolidated Financial Statements and "Management's Discussion and Analysis of Financial Condition and Results of Operations-Critical Accounting Policies and Estimates" in our Annual Report on Form 10-Kfor the year ended December 31, 2023 for a more detailed discussion of our significant accounting policies and critical accounting estimates. There were no material changes to these critical accounting policies during the six months ended June 30, 2024.

2024 Primentor, Inc. Consulting Agreement

On January 12, 2024, we entered into a consulting services agreement with Primentor, Inc., a California corporation; Phaneesh Murthy ("Murthy"), the owner of Primentor; Srinjay Sengupta ("Sengupta"), a consultant of Primentor; and Sunil Wadhwani and Ashok Trivedi (together the "Founders"), each co-founderand directors of the Company. Under the terms of the consulting services agreement, Primentor will provide the Company with strategic advisory and management consulting services, as well as any other business and organizational strategy services as the Board of Directors of Company may reasonably request from time to time.

The initial term of the consulting services agreement is for a three-year period commencing January 12, 2024, and the Company may request to renew the term for additional successive one-yearterms, in which case Primentor and the Company will negotiate to agree upon the scope of the additional services and the amount of additional consulting fees.

As compensation to Primentor, Murthy and Sengupta for providing the services requested by the Company, the Company will provide the following compensation:

19

The foregoing description of the consulting agreement is qualified in its entirety by reference to the full text of the Consulting Agreement (including the form of stock option agreements attached as exhibits thereto), which was filed by the Company as Exhibit 10.1 to the Company's Form 8-Kfiled with the SEC on January 19, 2024.

Employment-Related Claims Against the Company

In December 2022, the Company received a demand letter from the attorney of a former employee who resigned from his employment with the Company in November 2022. Among other allegations in the letter, this former employee has asserted various employment-related claims against the Company, including a claim of wrongful termination. For the year ended December 31, 2023, the Company settled this claim for $3.1 million, net of recoveries, under the terms of a confidential settlement agreement. In addition to the settlement amount, we incurred approximately $0.9 million in professional services fees related to this matter during 2023.

For the three and six months ended June 30, 2023, the Company incurred $600,000 and approximately $1.0 million, respectively, of professional services fees related to this matter. Additionally, the Company recorded a $3.1 million loss reserve, net of recoveries, with respect to a settlement reserve. These expenses are included in selling, general and administrative expenses in the Condensed Consolidated Statements of Operations. For the three and six months ended June 20, 2024, no expenses related to this matter were incurred.

Overview:

We are a provider of Digital Transformation IT Services to mostly large and medium-sizedorganizations.

Our portfolio of offerings includes data management and analytics services, other digital transformation services, such as digital learning services, and IT Staffing Services.

We operate in two reporting segments - Data and Analytics Services and IT Staffing Services. Our data and analytics services are marketed on a global basis under the brand "Mastech InfoTrellis" and are delivered largely on a project basis with on-siteand off-shoreresources. These data and analytics capabilities and expertise were acquired through our acquisition of InfoTrellis and enhanced and expanded subsequent to the acquisition. In October 2020, we acquired AmberLeaf Partners, Inc. ("AmberLeaf"), a Chicago-based customer experience consulting firm. This acquisition enhanced our capabilities in customer experience strategy and managed services offerings for a variety of Cloud-based enterprise applications across sales, marketing and customer services organizations. Our IT staffing business combines technical expertise with business process experience to deliver a broad range of staffing services in digital and mainstream technologies, as well as other digital transformation services.

Both business segments provide their services across various industry verticals, including financial services, government, healthcare, manufacturing, retail, technology telecommunications and transportation. In our Data and Analytics Services segment, we evaluate our revenues and gross profits largely by service line. In our IT Staffing Services segment, we evaluate our revenues and gross profits largely by sales channel responsibility. This analysis within both our reporting segments is multi-purposed and includes technologies employed, client relationships, and geographic locations.

Data and Analytics:

We provide information regarding our new bookings in our Data and Analytics Services segment, which represents the estimated value of client engagements, including those acquired through acquisitions, as well as renewals and extensions to existing contracts, because we believe doing so provides useful trend information regarding changes in the volume of our new business over time. New bookings can vary significantly quarter to quarter, depending, in part, on the timing of the signing of a small number of large engagements. Among other factors, the types of services and solutions to be delivered, the duration of the engagement and the pace and level of client spending impact the timing of the conversion of new bookings to revenues. In addition, substantially all of our contracts are terminable by the client on short notice, with little or no termination penalties. Information regarding our new bookings is not comparable to, nor should it be substituted for, an analysis of our revenues over time. New bookings involve estimates and judgments. There are no third-party standards or requirements governing the calculation of bookings. We do not update our new bookings for material subsequent terminations or reductions related to bookings originally provided in prior periods.

20

Economic Trends and Outlook:

Generally, our business outlook is highly correlated to general North American economic conditions, particularly with respect to our IT Staffing Services segment. During periods of increasing employment and economic expansion, demand for our services tends to increase. Conversely, during periods of contracting employment and / or a slowing global economy, demand for our services tends to decline. With economic expansion in 2010 through 2019 activity levels improved. However, as economic conditions strengthened, we experienced increased tightness in the supply side (skilled IT professionals) of our businesses. These supply-side challenges pressured resource costs and, to some extent, gross margins. As we entered 2020, we were encouraged by continued growth in the domestic job markets and expanding U.S. and global economies. However, with the COVID-19pandemic surfacing in the first quarter of 2020, we realized that economic growth would quickly turn into recessionary conditions, which had a material impact on activity levels in both of our business segments. In 2021, we were encouraged by the global rollout of vaccination programs and signs of economic improvement, however, the proliferation of COVID-19variants had caused some uncertainty and disruption in the global markets. In 2022 and 2023, COVID-19-relatedconcerns seemed to subside; however, increased inflation, challenges in the financial sector related to increasing interest rates, and concerns about a possible recession created much uncertainty and impacted demand for our services in the second half of 2022 and for the entire year of 2023. While economic conditions in North American have shown signs of improvement during the first half of 2024, a level of uncertainty remains with respect to inflation, the potential of escalations of existing conflicts in the Middle East and Ukraine and the outcome of the upcoming U.S. presidential election. It is difficult to predict the impact or duration that these economic pressures may have on our businesses and results of operations during the second half of 2024 and beyond.

In addition to tracking general economic conditions in the markets that we service, a large portion of our revenues is generated from a limited number of clients (see Item 1A, the Risk Factor entitled "Our revenues are highly concentrated, and the loss of a significant client would adversely affect our business and revenues" in our Annual Report on Form 10-Kfor the year ended December 31, 2023). Accordingly, our trends and outlook are additionally impacted by the prospects and well-being of these specific clients. This "account concentration" factor may result in our results of operations deviating from the prevailing economic trends from time to time.

Within our IT Staffing Services segment, a larger portion of our revenues has come from strategic relationships with systems integrators. Additionally, many large end users of IT staffing services are employing MSPs to manage their contractor spending. Both of these dynamics may pressure our IT staffing gross margins in the future.

Recent growth in advanced technologies (social, cloud, analytics, mobility, automation) is providing opportunities within our IT Staffing Services segment. However, supply side challenges have proven to be acute with respect to many of these technologies.

Results of Operations for the Three Months Ended June 30, 2024 as Compared to the Three Months Ended June 30, 2023:

Revenues:

Revenues for the three months ended June 30, 2024 totaled $49.5 million, compared to $52.2 million for the corresponding three-month period in 2023. This 5% year-over-year revenue decrease reflected a modest revenue increase in our Data and Analytics Services segment and a 6% decline in our IT Staffing Services segment. For the three months ended June 30, 2024, the Company had two clients that each had revenues in excess of 10% of total revenues (CGI = 14.9% and Allegis = 10.7%). For the three months ended June 30, 2023, the Company had one client with revenues in excess of 10% of total revenues (CGI = 24.0%). The Company's top ten clients represented approximately 53% and 55% of total revenues for the three months ended June 30,2024 and 2023, respectively.

Below is a tabular presentation of revenues by reportable segment for the three months ended June 30, 2024 and 2023, respectively:

Revenues from our Data and Analytics Services segment totaled $8.9 million in the second quarter ended June 30, 2024, which is slightly higher compared to the corresponding period last year, but up approximately 10% from the previous quarter. Improved activity levels and new assignments from existing clients over the last several quarters are starting to have a positive impact on our revenue performance. New bookings in the second quarter of 2024 totaled approximately $9.2 million.

21

Revenues from our IT Staffing Services segment totaled $40.6 million in the three months ended June 30, 2024, compared to $43.4 million during the corresponding 2023 period. This 6% year-over-year decrease reflected lower demand for our services in 2023, partially offset by improvements in activity levels and sequential revenue growth during the first half of 2024. Billable consultants at June 30, 2024 totaled 1,035-consultants,compared to 1,041-consultantsone year earlier. During the first half of 2024, we grew our billable consultant-base by 89-consultants.Our average bill rate during the second quarter of 2024 was $81.94 per hour, compared to $76.76 per hour in the corresponding 2023 quarter. The increase in average bill rate was due to higher rates on new assignments during the first half of 2024 and was reflective of the types of skill sets that we deployed. Permanent placement / fee revenues were approximately $0.2 million during the 2024 second quarter, which were in-linewith the corresponding 2023 quarter.

Gross Margins:

Gross profits in the second quarter of 2024 totaled $14.0 million, which was $0.4 million higher than the second quarter of 2023 gross profits. Gross profit as a percentage of revenue was 28.2% for the three-month period ended June 30, 2024, compared to 26.1% during the same period of 2023. This 210-basispoint increase in gross margins reflected higher margins in both of our business segments during the current quarter.

Below is a tabular presentation of gross margin by reporting segment for the three months ended June 30, 2024 and 2023, respectively:

Gross margins from our Data and Analytics Services segment were 49.2% of revenues during the second quarter of 2024, which represented an increase of 360-basispoints compared to the second quarter of 2023. The margin increase reflected strong delivery performances, which benefited project gross margins and a higher utilization rate in the 2024 quarter compared to the second quarter of 2023.

Gross margins from our IT Staffing Services segment were 23.6% in the second quarter of 2024, compared to 22.2% during the corresponding quarter of 2023. This 140-basispoint increase was due to (1) higher project gross margins of approximately 60-basispoints and (2) lower benefit costs, reflective of lower year-over-year medical claim experience related to our self-insured healthcare program. The 2023 quarter had medical claims that were on the very high-endof our historical average, while the 2024 quarter was an increase from our historical average. It should be noted that medical claims can vary significantly from quarter to quarter.

Selling, General and Administrative ("SG&A") Expenses:

Below is a tabular presentation of operating expenses by expense category for the three months ended June 30, 2024 and 2023:

22

SG&A expenses for the three months ended June 30, 2024, totaled $12.3 million or 24.8% of total revenues, compared to $16.5 million or 31.6% of total revenues for the three months ended June 30, 2023. Excluding the costs associated with an employment-related claim, net of recoveries, in the 2023 period and the amortization of acquired intangible assets in both periods, SG&A expense as a percentage of total revenues would have been 23.4% and 24.3%, respectively.

Fluctuations within SG&A expense components during the second quarter of 2024, compared to the second quarter of 2023, included the following:

Other Income / (Expense) Components:

Other Income / (Expense) for the three months ended June 30, 2024, consisted of net interest income of $130,000 and foreign exchange losses of ($14,000). For the three months ended June 30, 2023, Other Income / (Expense) consisted of net interest income of $80,000 and foreign exchange losses of ($30,000). The higher level of interest income was reflective of higher cash balances and higher interest rates in the 2024 period.

Income Tax Expense (Benefit):

Income tax expense (benefit) for the three months ended June 30, 2024, totaled $418,000, representing an effective tax rate on pre-taxincome of 23.1%, compared to a ($605,000) benefit for the three months ended June 30, 2023, which represented an effective tax rate on pre-tax(loss) of (21.8%). In the 2024 period, our effective tax rate was favorably impacted by a partial reversal of our tax valuation allowance due to earnings generated in two of our foreign subsidiaries during the second quarter. The lower effective benefit rate on 2023's pre-taxloss largely reflected increases in our tax valuation allowance due to foreign subsidiary losses.

Results of Operations for the Six Months Ended June 30, 2024 as Compared to the Six Months Ended June 30, 2023:

Revenues:

Revenues for the six months ended June 30, 2024, totaled $96.4 million, compared to $107.3 million for the corresponding six-month period in 2023. This 10% year-over-year revenue decrease reflected a 7% decrease in our Data and Analytics Services segment and an 11% decrease in our IT Staffing Services segment. For the six months ended June 30, 2024, the Company had two clients that each had revenues in excess of 10% of total revenues (CGI = 16.1% and Allegis = 10.1%). For the six months ended June 30, 2023, the Company had one client that had revenues in excess of 10% of total revenues (CGI = 24.8%). The Company's top ten clients represented approximately 52% and 55% of total revenues for the six months ended June 30, 2024 and 2023, respectively.

Below is a tabular presentation of revenues by reportable segment for the six months ended June 30, 2024 and 2023, respectively:

23

Revenues from our Data and Analytics Services segment totaled $17.0 million during the six months ended June 30, 2024, compared to $18.2 million in the corresponding six-monthperiod last year. The 7% year-over-year decline largely reflected soft revenues during the first quarter of 2024 compared to the corresponding quarter of 2023 due delays in starting new assignments. Order bookings for the first six months of 2024 totaled approximately $19 million, which were slightly higher than the first half of 2023.

Revenues from our IT Staffing Services segment totaled $79.4 million in the six months ended June 30, 2024, compared to $89.1 million during the corresponding 2023 period. This 11% decrease largely reflected a lower level of billable consultants starting the year 2024 (946-consultants)compared to billable consultants starting the year 2023 (1,208-consultants)due to a decline in demand for our services in 2023. At June 30, 2024, billable consultants totaled 1,035-consultants,compared to 1,041-consultantsat June 30, 2023. During the first six months of 2024, our average bill rate was $80.62 compared to $78.66 in the corresponding period of 2023.

Gross Margins:

Gross profits in the six months ended June 30, 2024 totaled $26.1 million compared to $27.1 million in the corresponding period last year. Gross profit as a percentage of revenue was 27.1% for the six-monthperiod ended June 30, 2024, compared to 25.3% during the same period of 2023. This 180-basispoint increase largely reflected improvements at both of our business segments.

Below is a tabular presentation of gross margin by reporting segment for the six months ended June 30, 2024 and 2023, respectively:

Gross margins from our Data and Analytics Services segment were 47.9% during the six-monthperiod ended June 30, 2024, compared to 41.9% in the corresponding period of 2023. This gross margin improvement reflected higher project gross margins and better utilization rates during the first six months of 2024.

Gross margins from our IT Staffing Services segment were 22.7% in the six months ended June 30, 2024, compared to 21.9% during the corresponding period of 2023. This 80-basispoint increase was due to higher margins on new assignments in 2024, as well as a favorable medical claim experience related to our self-insured healthcare program in the 2024 period.

Selling, General and Administrative ("SG&A") Expenses:

Below is a tabular presentation of operating expenses by expense category for the six months ended June 30, 2024 and 2023:

24

SG&A expenses for the six months ended June 30, 2024, totaled $24.8 million or 25.8% of total revenues, compared to $29.4 million or 27.4% of total revenues for the six months ended June 30, 2023. Excluding the amortization of acquired intangible assets in both periods and the costs associated with an employment-related claim, net of recoveries, in 2023, SG&A expense as a percentage of total revenues would have been 24.3% and 23.1%, respectively.

Fluctuations within SG&A expense components during the first six months of 2024, compared to the first six months of 2023, included the following:

Other Income / (Expense) Components:

Other Income / (Expense) for the six months ended June 30, 2024, consisted of net interest income of $284,000 and foreign exchange losses of ($44,000). For the six months ended June 30, 2023, Other Income / (Expense) consisted of net interest income of $84,000 and foreign exchange losses of ($87,000). The higher level of interest income was reflective of higher cash balances on hand and higher interest rates in the 2024 period.

Income Tax Expense:

Income tax expense (benefit) for the six months ended June 30, 2024 totaled $297,000 representing an effective tax rate on pre-taxincome of 19.4% compared to a ($387,000) benefit for the six months ended June 30, 2023, which represented a 16.8% effective benefit rate on pre-taxloss. The favorable effective tax rate in the 2024 period reflected a favorable adjustment to our tax valuation allowance due to the utilization of Singapore tax benefits.

Liquidity and Capital Resources:

Financial Conditions and Liquidity:

As of June 30, 2024, we had no bank debt, cash balances on hand of $20.6 million and approximately $23.8 million of borrowing capacity under our existing credit facility.

Historically, we have funded our organic business needs with cash generated from operating activities. Controlling our operating working capital levels by closely managing our accounts receivable balance is an important element of cash generation. As of June 30, 2024, our accounts receivable "days sales outstanding" ("DSOs") measurement was 53-days,which was three days lower than at June 30, 2023.

We believe that cash provided by operating activities, cash balances on hand and current availability under our credit facility will be adequate to fund our business needs and support the share repurchase program we announced in February 2023 over the next twelve months, absent any acquisition-related activities.

25

Cash flows provided by (used in) operating activities:

Cash (used in) operating activities for the six months ended June 30, 2024, totaled ($0.1 million) compared to cash provided by operating activities of $13.1 million during the six months ended June 30, 2023. Elements of cash flow during the 2024 period were a net income of $1.2 million, non-cashcharges of $2.9 million and an increase in operating working capital levels of ($4.2 million). Elements of cash flow during the corresponding 2023 period were net (loss) of ($1.9 million), non-cashcharges of $6.4 million and a decrease in operating working capital levels of $8.6 million. The higher non-cashcharges in 2023 were due to the reserve for an employment-related claim, net of recoveries. Operating working capital increased in 2024 due to higher accounts receivable balances resulting from our sequential revenue growth and an increase in prepaid and other current assets.

Cash flows (used in) investing activities:

Cash (used in) investing activities for the six months ended June 30, 2024, was ($751,000) compared to ($42,000) for the six months ended June 30, 2023. During the six months ended June 30, 2024, investing activities consisted of capital expenditures. During the corresponding 2023 period, investing activities included capital expenditures of ($112,000) and the recovery of office lease deposits of $70,000. The increase in capital expenditures in the 2024 period compared to the 2023 period reflected expenditures for laptop replacements and other technology enhancements.

Cash flows provided by (used in) financing activities:

Cash provided by financing activities for the six months ended June 30, 2024, totaled $378,000 and consisted of proceeds from the exercise of stock options of $322,000, the issuance of common shares related to our Employee Stock Purchase Plan of $136,000, partially offset by the purchase of treasury shares of ($80,000). Cash (used in) financing activities for the six months ended June 30, 2023, totaled ($1.5 million) and included Term Loan debt repayments of ($1.1 million), the purchase of treasury shares under our share repurchase program of ($572,000), partially offset by $150,000 related to proceeds from the issuance of shares of common stock shares under our Employee Stock Purchase Plan.

Off-BalanceSheet Arrangements:

Other than $324,000 in outstanding letters of credit issued under our Credit Agreement, we do not have any off-balancesheet arrangements. For further details about the outstanding letters of credit, refer to Note 8 - "Credit Facility" in the Notes to Condensed Consolidated Financial Statements included herein.

Inflation:

We do not believe that inflation had a significant impact on our results of operations for the periods presented, although economic uncertainty, including the concerns of our clients and other companies with respect to inflationary conditions in North America and elsewhere, has had and may continue to have an adverse impact on the demand for our services. On an ongoing basis, we attempt to minimize any effects of inflation on our operating results by controlling operating costs and, whenever possible, seek to ensure that billing rates reflect increases in costs due to inflation. However, high levels of inflation may result in higher interest rates which could increase our borrowing costs in the future.

In addition, refer to "Item 1A. Risk factors" in our 2023 Annual Report on Form 10-Kfor a discussion about risks that inflation directly or indirectly may pose to our business.

Seasonality:

Our operations are generally not affected by seasonal fluctuations. However, our consultants' billable hours are affected by national holidays and vacation policies. Accordingly, we generally have lower utilization rates and higher benefit costs during the fourth quarter. Additionally, assignment completions tend to be higher near the end of the calendar year, which largely impacts our revenue and gross profit performance during the subsequent quarter.

Recently Issued Accounting Standards:

Recent accounting pronouncements are described in Note 13 to the accompanying financial statements.

26

In addition to the inherent operational risks, the Company is exposed to certain market risks, primarily related to changes in interest rates and currency fluctuations.

Interest Rates

As of June 30, 2024, we had no outstanding borrowings under the Credit Agreement - Refer to Note 8 - "Credit Facility" in the Notes to Condensed Consolidated Financial Statements, included herein.

Currency Fluctuations

The reporting currency of the Company and its subsidiaries is the U.S. dollar. The functional currency of the Company's subsidiary in Canada is the U.S. dollar because the majority of its revenue is denominated in U.S. dollars. The functional currencies of the Company's Indian and European subsidiaries are the local currency of the location of such subsidiary. The results of operations of the Company's Indian and European subsidiaries are translated at the monthly average exchange rates prevailing during the period. The financial position of the Company's Indian and European subsidiaries is translated at the current exchange rates at the end of the period, and the related translation adjustments are recorded as a component of accumulated other comprehensive income (loss) within Shareholders' Equity. Gains and losses resulting from foreign currency transactions are included as a component of other income (expense), net in the Condensed Consolidated Statements of Operations, and have not been material for all periods presented. A hypothetical 10% increase or decrease in overall foreign currency rates in the first six months of 2024 would not have had a material impact on our consolidated financial statements.

Disclosure Controls and Procedures

The Company maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed in the reports that the Company files or submits under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), is recorded, processed, summarized, and reported within the time periods specified in the SEC's rules and forms, and that such information is accumulated and communicated to the Company's management, including its Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

As of the end of the period covered by this report, the Company carried out an evaluation, under the supervision and with the participation of Company management, including the Chief Executive Officer and the Chief Financial Officer, of the effectiveness of the design and operation of the Company's disclosure controls and procedures pursuant to Exchange Act Rules 13a-15(b).Based upon that evaluation, the Chief Executive Officer and the Chief Financial Officer concluded that the Company's disclosure controls and procedures were effective.

We do not expect that our disclosure controls and procedures will prevent all errors and all instances of fraud. Disclosure controls and procedures, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the disclosure controls and procedures are met. Further, the design of disclosure controls and procedures must reflect the fact that there are resource constraints, and the benefits must be considered relative to their costs. Because of the inherent limitations in all disclosure controls and procedures, no evaluation of disclosure controls and procedures can provide absolute assurance that we have detected all our control deficiencies and instances of fraud, if any. The design of disclosure controls and procedures also is based partly on certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions.

Changes in Internal Control over Financial Reporting

There were no changes in the Company's internal control over financial reporting during the quarter ended June 30, 2024 that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

27

PART II. OTHER INFORMATION

In the ordinary course of our business, we are involved in a number of lawsuits and administrative proceedings. While uncertainties are inherent in the final outcome of these matters, management believes, after consultation with legal counsel, that the disposition of these proceedings should not have a material adverse effect on our financial position, results of operations or cash flows.

There have been no material changes from the risk factors as previously disclosed in our Annual Report on Form 10-Kfor the year ended December 31, 2023, filed with the SEC on March 15, 2024.

A summary of our Common Stock repurchased during the quarter ended June 30, 2024 is set forth in the following table:

28

(a) Exhibits

30

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on this 12th day of August, 2024.

31