Shares of CBIZ Inc (NYSE: CBZ) surged 5.02% in pre-market trading on Wednesday after the provider of professional business services reported a narrower-than-expected loss for the fourth quarter and revenue that topped Wall Street estimates, driven by the acquisition of Marcum LLP.

The Independence, Ohio-based company said it incurred a quarterly loss of $90.7 million, or $1.53 per diluted share, compared to a loss of $12.7 million, or $0.26 per share, in the year-ago quarter. On an adjusted basis, CBIZ reported a loss of $0.20 per share, smaller than the consensus estimate of $0.24 loss per share.

Total revenue for the quarter jumped 40.5% year-over-year to $460.3 million, exceeding analysts' expectations of $406.6 million. The growth was primarily driven by the acquisition of Marcum LLP, the largest acquisition in the company's history, which closed on November 1, 2024.

CBIZ attributed the wider loss to the impact of the Marcum transaction and integration expenses as well as seasonal results from the consolidated operations in November and December. The company recorded revenue of $358.4 million for its financial services segment, up from $228.3 million a year earlier, thanks to the Marcum acquisition.

Looking ahead, CBIZ issued an optimistic outlook for 2025, projecting total revenue between $2.90 billion and $2.95 billion and adjusted earnings per share in the range of $3.60 to $3.65. The guidance incorporates the expected impact of the Marcum acquisition.