The following is a summary of the Hudson Global, Inc. (HSON) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Hudson Global reported a decrease in Q1 2024 revenue to $33.9 million, 20% less than that of the previous year in constant currency.

• Adjusted net revenue was $16.3 million, down 25% from the prior year in constant currency.

• The company shifted from a positive adjusted EBITDA of $1.1 million in Q1 2023 to an adjusted EBITDA loss of $1.5 million in Q1 2024.

• Net loss for the quarter was $2.9 million or $0.95 per diluted share, a stark contrast from the net income of $400,000 or $0.11 per diluted share reported in the first quarter of the previous year.

Business Progress:

• Hudson Global bolstered its global market presence and service offerings through acquisitions of companies like Executive Solutions and Striver in UAE in Q1 2024.

• In sectors such as industrial and life sciences, Hudson RPO is witnessing signs of recovery and anticipates increased hiring as they expand their footprint.

• The company has shared plans to buy more stocks over time as part of their common share repurchase program which was initiated in August 2023.

• The company's leadership team welcomes two new members, Jeff Bettinger as the Chief Administrative Officer and Rachel Marshalsea as the Director of Client Solutions for EMEA.

More details: Hudson Global IR

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