The following is a summary of the Hudson Global, Inc. (HSON) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Hudson Global reported a decrease in revenue to $36.9 million, down 8% YoY in constant currency.

• Adjusted net revenue was at $18.6 million, down 5% YoY in constant currency.

• The company reported a net loss of $0.8 million or $0.28 per diluted share, compared to net income of $0.5 million or $0.17 per diluted share last year.

• Q3 2024 adjusted net loss per share was $0.13, compared to a net income per diluted share of $0.24 in Q3 2023.

• Cash flow from operations was $1.3 million during the quarter, improving from a cash outflow of $0.7 million in Q3 2023.

Business Progress:

• The company continued to improve its geographical reach and service offerings in the RPO sector.

• Strategic hires in Q3 have added industry expertise and capability to Hudson RPO, which received recognition among HRO Today Magazine's Baker's Dozen List of Top Enterprise RPO providers for the 16th consecutive year.

• Hudson RPO is expanding into new geographies and territories with existing partners.

Opportunities:

• Hudson Global's efforts in expanding geographical reach and leveraging its reputation amongst existing partnerships offer growth opportunities.

• Incremental gains observed as the company expands services to new geographies with existing partners.

• Adjustments in the finance sector enabling potential market normalization provide a platform for increased recruitment volumes and revenue growth.

Risks:

• New logo sales continue to disappoint with potential clients either delaying or reducing their scope, highlighting an ongoing risk to revenue growth.

• Current hiring volumes for many existing partners are below expectations, potentially affecting future operational performance.

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