The following is a summary of the Hudson Global, Inc. (HSON) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Hudson Global, Inc. reported a revenue of $35.7 million in Q2 2024, down 20% year-over-year in constant currency.

• Adjusted net revenue was $17.6 million, down 22% year-over-year.

• The company experienced a net loss of $0.4 million or $0.15 per diluted share, compared to a net income of $0.6 million or $0.18 per diluted share a year prior.

• Adjusted EBITDA for Q2 2024 was $0.7 million, down from $2.6 million in Q2 2023.

• Cash flow used in operations was $4.3 million, compared to $2.6 million generated in Q2 2023.

Business Progress:

• Hudson Global, Inc. expanded geographically with the acquisition of Striver, a UAE-based talent acquisition firm, and the acquisition of Executive Solutions in Q1.

• Implemented a 'land-and-expand' strategy within the existing client base, adding significant scope to a few key existing client relationships.

• Implemented cost-saving measures and workforce reductions to optimize organizational talent.

Opportunities:

• Hudson Global continues to expand geographically and enhance service offerings through acquisitions such as Striver and Executive Solutions.

• The company is actively pursuing new business opportunities, aiming to expand and deepen these relationships over time as hiring conditions improve.

Risks:

• The company experienced continuation of lower than normal hiring volumes, impacting revenue growth.

• Market conditions indicated by client executives taking longer to make decisions, affecting the conversion rate and scale of new business opportunities.

More details: Hudson Global IR

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