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Staffing 360 Solutions | 10-Q: Q2 2024 Earnings Report

Staffing 360 Solutions | 10-Q: Q2 2024 Earnings Report

Staffing 360 Solutions | 10-Q：2024财年二季报
美股SEC公告 ·  2024/08/12 17:31

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Staffing 360 Solutions reported Q2 2024 revenue of $44.2 million, down 9.1% from $48.6 million in Q2 2023, with gross profit declining 17.2% to $5.8 million. The Commercial Staffing segment saw a 16.5% revenue decline while Professional Staffing decreased by 1.7%. Gross margin contracted to 13.2% from 14.5% due to a higher proportion of lower-margin Employer of Record services.Operating expenses decreased 20.5% to $6.4 million following workforce reductions implemented in May 2023 and February 2024. The company recorded a net loss of $2.0 million compared to a $2.9 million loss in Q2 2023. The improvement was primarily driven by lower operating costs and the absence of discontinued operations losses.The company faces ongoing financial challenges with a working capital deficit of $47.9 million and an accumulated deficit of $131.6 million as of June 29, 2024. Management is actively pursuing strategic options including potential sale of the company, while working with lenders to address covenant compliance issues and debt obligations coming due in October 2024.
Staffing 360 Solutions reported Q2 2024 revenue of $44.2 million, down 9.1% from $48.6 million in Q2 2023, with gross profit declining 17.2% to $5.8 million. The Commercial Staffing segment saw a 16.5% revenue decline while Professional Staffing decreased by 1.7%. Gross margin contracted to 13.2% from 14.5% due to a higher proportion of lower-margin Employer of Record services.Operating expenses decreased 20.5% to $6.4 million following workforce reductions implemented in May 2023 and February 2024. The company recorded a net loss of $2.0 million compared to a $2.9 million loss in Q2 2023. The improvement was primarily driven by lower operating costs and the absence of discontinued operations losses.The company faces ongoing financial challenges with a working capital deficit of $47.9 million and an accumulated deficit of $131.6 million as of June 29, 2024. Management is actively pursuing strategic options including potential sale of the company, while working with lenders to address covenant compliance issues and debt obligations coming due in October 2024.
Staffing 360 Solutions报告2024年第二季度营业收入为4420万美金，比2023年第二季度的4860万美金下降了9.1%，毛利润下降了17.2%，降至580万美金。商业人力资源部门的营业收入下降了16.5%，而专业人力资源部门下降了1.7%。毛利率从14.5%收缩至13.2%，主要是由于低毛利的雇主记录服务占比提高。营业费用下降了20.5%，降至640万美金，这得益于2023年5月和2024年2月实施的裁员。公司录得净亏损200万美金，而2023年第二季度的亏损为290万美金。这一改善主要归功于较低的营业成本和没有中止业务的亏损。截至2024年6月29日，公司面临持续的财务挑战，营运资金赤字为4790万美金，累积赤字为13160万美金。管理层正在积极寻求战略期权，包括公司可能出售的方案，同时与贷方合作，解决保证金遵守问题和2024年10月到期的债务义务。
Staffing 360 Solutions报告2024年第二季度营业收入为4420万美金，比2023年第二季度的4860万美金下降了9.1%，毛利润下降了17.2%，降至580万美金。商业人力资源部门的营业收入下降了16.5%，而专业人力资源部门下降了1.7%。毛利率从14.5%收缩至13.2%，主要是由于低毛利的雇主记录服务占比提高。营业费用下降了20.5%，降至640万美金，这得益于2023年5月和2024年2月实施的裁员。公司录得净亏损200万美金，而2023年第二季度的亏损为290万美金。这一改善主要归功于较低的营业成本和没有中止业务的亏损。截至2024年6月29日，公司面临持续的财务挑战，营运资金赤字为4790万美金，累积赤字为13160万美金。管理层正在积极寻求战略期权，包括公司可能出售的方案，同时与贷方合作，解决保证金遵守问题和2024年10月到期的债务义务。
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