Hudson Global Reports 2024 Fourth Quarter and Full-Year Results

Core Insights - Hudson Global, Inc. reported financial results for Q4 and full year 2024, indicating modest improvement in the fourth quarter compared to the previous year, with the Americas region showing the strongest performance [4][6][8]. Financial Performance - Fourth Quarter 2024: - Revenue was $33.6 million, a decrease of 1.1% from Q4 2023, or 2.0% in constant currency [6]. - Adjusted net revenue increased by 6.4% to$ 17.6 million, or 5.7% in constant currency [6]. - Net loss was $0.6 million, translating to a loss of$ 0.20 per diluted share, compared to a net income of $0.7 million, or$ 0.23 per diluted share in Q4 2023 [6]. - Adjusted EBITDA rose to $0.9 million from$ 0.1 million in Q4 2023 [6]. - Full Year 2024: - Total revenue decreased by 13.2% to $140.1 million, with adjusted net revenue down 12.6% to$ 70.2 million [6][8]. - The net loss for the year was $4.8 million, or$ 1.59 per diluted share, compared to a net income of $2.2 million, or$ 0.70 per diluted share in 2023 [6]. - Adjusted EBITDA for the year was $0.9 million, down from$ 5.9 million in 2023 [6]. Regional Highlights - Americas: - Q4 revenue was $7.3 million, an increase of 18% year-over-year, with adjusted net revenue up 5% to$ 6.4 million [7]. - Full year revenue decreased by 11% to $27.9 million, with adjusted net revenue down 17% to$ 25.1 million [8]. - Asia Pacific: - Q4 revenue was $20.0 million, a decrease of 10%, while adjusted net revenue increased by 6% to$ 7.4 million [9]. - Full year revenue decreased by 16% to $86.7 million, with adjusted net revenue down 12% to$ 29.4 million [10]. - EMEA: - Q4 revenue increased by 7% to $6.3 million, with adjusted net revenue up 5% to$ 3.8 million [11]. - Full year revenue decreased by 5% to $25.5 million, with adjusted net revenue down 8% to$ 15.6 million [12]. Corporate Costs and Liquidity - Corporate costs for Q4 2024 were $0.6 million, down from$ 0.7 million in Q4 2023 [13]. - For the full year, corporate costs were $3.4 million, compared to$ 3.7 million in 2023 [14]. - The company ended Q4 2024 with $17.7 million in cash, generating$ 2.0 million in cash flow from operations, down from $3.3 million in Q4 2023 [15]. Share Repurchase Program - The company approved a$ 5 million share repurchase program in August 2023, purchasing 154,084 shares for $2.5 million in 2024, leaving$ 2.1 million remaining [16]. Net Operating Loss (NOL) Carryforward - As of December 31, 2024, Hudson Global had $240 million of usable NOL in the U.S., which is considered a valuable asset for stockholders [17].