Mastech Digital(MHH) - 2025 Q1 - Quarterly Results

Financial Performance - Total consolidated revenues increased by 3% to $48.3 million, compared to$46.8 million in Q1 2024[5] - Consolidated gross profits increased by 6% to $12.9 million, with gross margins rising to 26.7$9.0 million, an 11% increase from $8.1 million in Q1 2024[5] - The IT Staffing Services segment achieved a 2$39.4 million compared to $38.8 million in Q1 2024[22] Net Income and Loss - GAAP net loss for Q1 2025 was ($1.4 million) or ($0.12) per diluted share, compared to a net loss of ($161,000) or ($0.01) per diluted share in Q1 2024[3][5] - Non-GAAP net income for Q1 2025 was$0.8 million, or $0.06 per diluted share, consistent with Q1 2024[3][5] Cash and Financial Position - Cash balances on hand as of March 31, 2025, were$24.7 million, with no bank debt and $23.7 million available under the revolving credit facility[6] - Days Sales Outstanding (DSO) stood at 56 days, well within the targeted range[6] Expenses and Future Outlook - The Company incurred$1.4 million in severance expenses during Q1 2025, compared to no severance expenses in Q1 2024[5] - The Company remains cautiously optimistic about future growth despite a challenging demand environment[6]