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Hudson Global(HSON) - 2024 Q4 - Annual Results
HSONHudson Global(HSON)2025-03-14 12:56

Revenue Performance - Revenue for Q4 2024 was 33.6million,adecreaseof1.133.6 million, a decrease of 1.1% from Q4 2023, or 2.0% in constant currency[5] - For the full year 2024, revenue was 140.1 million, a decrease of 13.2% from 2023, or 13.2% in constant currency[5] - Total revenue for the year ended December 31, 2024, was 140,056million,adecreaseof13.2140,056 million, a decrease of 13.2% from 161,338 million in 2023[33] - In Q4 2024, total revenue was 33,600million,slightlydownfrom33,600 million, slightly down from 33,971 million in Q4 2023[37] - The Americas region reported Q4 2024 revenue of 7.3million,anincreaseof187.3 million, an increase of 18% compared to Q4 2023[8] - Asia Pacific revenue for Q4 2024 was 20.0 million, a decrease of 10%, while adjusted net revenue increased by 6% to 7.4million[10]−EMEArevenueforQ42024was7.4 million[10] - EMEA revenue for Q4 2024 was 6.3 million, an increase of 7%, with adjusted net revenue rising by 5% to 3.8million[12]−TheAmericasregionreportedarevenueof3.8 million[12] - The Americas region reported a revenue of 27,894 million in 2024, down 10.8% from 31,254millionin2023[40]−AsiaPacificrevenuefor2024was31,254 million in 2023[40] - Asia Pacific revenue for 2024 was 86,704 million, a decrease of 16.5% from 103,857millionin2023[40]AdjustedNetRevenue−AdjustednetrevenueforQ42024was103,857 million in 2023[40] Adjusted Net Revenue - Adjusted net revenue for Q4 2024 was 17.6 million, an increase of 6.4% from Q4 2023, or 5.7% in constant currency[5] - Adjusted net revenue for the full year 2024 was 70.2million,adecreaseof12.670.2 million, a decrease of 12.6% from 2023, or 12.8% in constant currency[5] - Adjusted net revenue for 2024 was 70,152 million, down 12.6% from 80,267millionin2023[33]−AdjustednetincomefortheyearendedDecember31,2023,was80,267 million in 2023[33] - Adjusted net income for the year ended December 31, 2023, was 2.69 million, translating to a diluted income per share of 0.86[42]NetLossandEarnings−ThenetlossforQ42024was0.86[42] Net Loss and Earnings - The net loss for Q4 2024 was 0.6 million, or 0.20lossperdilutedshare,comparedtoanetincomeof0.20 loss per diluted share, compared to a net income of 0.7 million, or 0.23incomeperdilutedshareinQ42023[5]−Thecompanyreportedanetlossof0.23 income per diluted share in Q4 2023[5] - The company reported a net loss of 4,770 million for 2024, compared to a net income of 2,198millionin2023[33]−ForthethreemonthsendedDecember31,2024,HudsonGlobalreportedanetlossof2,198 million in 2023[33] - For the three months ended December 31, 2024, Hudson Global reported a net loss of 585,000, resulting in a diluted loss per share of 0.20[42]−FortheyearendedDecember31,2024,thenetlosswas0.20[42] - For the year ended December 31, 2024, the net loss was 4.77 million, with a diluted loss per share of 1.59[42]−TheadjustednetlossforthethreemonthsendedDecember31,2024,was1.59[42] - The adjusted net loss for the three months ended December 31, 2024, was 147,000, resulting in a diluted loss per share of 0.05[42]OperatingExpenses−TotaloperatingexpensesforthethreemonthsendedDecember31,2024,were0.05[42] Operating Expenses - Total operating expenses for the three months ended December 31, 2024, were 33,725,000, down 4.3% from 35,238,000 in the prior year[24] - SG&A expenses for the year 2024 totaled 72,600 million, a decrease of 6.1% from 77,417millionin2023[40]−Operatinglossfor2024was77,417 million in 2023[40] - Operating loss for 2024 was 3,809 million, compared to an operating income of 1,383millionin2023[40]CashandAssets−Cashandcashequivalentsdecreasedto1,383 million in 2023[40] Cash and Assets - Cash and cash equivalents decreased to 17,011,000 as of December 31, 2024, from 22,611,000ayearearlier[27]−Totalassetsdecreasedto22,611,000 a year earlier[27] - Total assets decreased to 52,583,000 as of December 31, 2024, down from 60,958,000in2023[27]−Totalstockholders′equitydecreasedto60,958,000 in 2023[27] - Total stockholders' equity decreased to 40,428,000 as of December 31, 2024, down from 48,554,000inthepreviousyear[27]TaxandProvisions−Thecompanyreportedaprovisionforincometaxesof48,554,000 in the previous year[27] Tax and Provisions - The company reported a provision for income taxes of 837,000 for the three months ended December 31, 2024, compared to a benefit from income taxes of (778,000)inthesameperiodof2023[29]−Thecompanyincurrednon−recurringseveranceandprofessionalfeesof(778,000) in the same period of 2023[29] - The company incurred non-recurring severance and professional fees of 2.18 million (after tax) for the year ended December 31, 2024[42] - The company reported a non-recurring severance and professional fees impact of (617,000)(aftertax)forthethreemonthsendedDecember31,2023[42]SharesOutstanding−Theweighted−averagesharesoutstandingforbasicshareswas2,974,000forthethreemonthsendedDecember31,2024,comparedto3,072,000intheprioryear[24]−ThetotaloutstandingdilutedsharesforthethreemonthsendedDecember31,2024,were2,974,000[42]−ThetotaloutstandingdilutedsharesfortheyearendedDecember31,2023,were3,140,000[42]InvestmentandFutureGrowth−Thecompanyinvestedapproximately(617,000) (after tax) for the three months ended December 31, 2023[42] Shares Outstanding - The weighted-average shares outstanding for basic shares was 2,974,000 for the three months ended December 31, 2024, compared to 3,072,000 in the prior year[24] - The total outstanding diluted shares for the three months ended December 31, 2024, were 2,974,000[42] - The total outstanding diluted shares for the year ended December 31, 2023, were 3,140,000[42] Investment and Future Growth - The company invested approximately 3.4 million in sales, marketing, and technology in 2024 to enhance future growth[5] - As of December 31, 2024, the company had $240 million of usable net operating losses (NOL) in the U.S.[18]