Business
HireQuest Reports Financial Results for Fourth Quarter and Full Year 2024
GOOSE CREEK, SC / ACCESS Newswire / March 27, 2025 / HireQuest, Inc. (Nasdaq:HQI), a national franchisor of direct dispatch, executive search, and commercial staffing services, today reported financial results for the fourth quarter and year ended ...
About this update from Hirequest, Inc.
[{"type":"text","content":"GOOSE CREEK, SC / ACCESS Newswire / March 27, 2025 / HireQuest, Inc. (Nasdaq:HQI), a national franchisor of direct dispatch, executive search, and commercial staffing services, today reported financial results for the fourth quarter and year ended December 31, 2024.","length":266,"tagName":"p"},{"type":"text","content":"Fourth Quarter 2024 Summary","length":27,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Franchise royalties decreased 14.0% to $7.6 million compared to $8.9 million in the prior year period.","length":102,"tagName":"p"}]},{"val":[{"type":"text","content":"Total revenue decreased 17.2% to $8.1 million compared to $9.8 million in the prior year period.","length":96,"tagName":"p"}]},{"val":[{"type":"text","content":"Selling, general and administrative ("SG&A") expenses were $5.1 million, a decrease of 22.7% compared to $6.6 million in the prior year period.","length":157,"tagName":"p"}]},{"val":[{"type":"text","content":"Income from operations was$2.3 million, compared to income from operations of $2.4 million in the fourth quarter of 2023.","length":121,"tagName":"p"}]},{"val":[{"type":"text","content":"Net income was $2.2 million, or $0.16 per diluted share compared to net income of $15,000, or $0.00 per diluted share in the prior year period. Adjusted net income for the quarter was $2.6 million, or $0.19 per diluted share compared to adjusted net income of $2.5 million, or $0.18 per diluted share in the fourth quarter of 2023.","length":331,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted EBITDA was $3.8 million compared to $4.3 million in the prior year period.","length":83,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":890,"olType":false},{"type":"text","content":"Full Year 2024 Summary","length":22,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Franchise royalties decreased 8.8% to $32.7 million compared to $35.8 million in the full year 2023.","length":100,"tagName":"p"}]},{"val":[{"type":"text","content":"Total revenue decreased 8.7% to $34.6 million compared to $37.9 million in the prior year period.","length":97,"tagName":"p"}]},{"val":[{"type":"text","content":"SG&A expenses decreased 12.4% to $21.4 million compared to $24.4 million in the prior year period.","length":102,"tagName":"p"}]},{"val":[{"type":"text"...