Hudson Global, Inc. Files 10-Q for Q1 2024

TL;DR

<b>Hudson Global, Inc. has filed its Q1 2024 10-Q report, detailing financial performance and corporate information.</b>

AI Summary

Hudson Global, Inc. (STRRP) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. Hudson Global, Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal business address is 53 Forest Avenue, Old Greenwich, CT 06870. Hudson Global, Inc. was formerly known as HUDSON HIGHLAND GROUP INC. The filing includes financial data for the periods ending March 31, 2024, December 31, 2023, and March 31, 2023.

Why It Matters

For investors and stakeholders tracking Hudson Global, Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest financial snapshot of Hudson Global, Inc. for the first quarter of 2024, enabling informed investment decisions. Understanding the company's historical name changes and current reporting structure is crucial for tracking its evolution and financial reporting consistency.

Risk Assessment

Risk Level: low — Hudson Global, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags, indicating routine disclosure.

Analyst Insight

Review the detailed financial statements within the 10-Q to assess Hudson Global's revenue, profitability, and debt levels for Q1 2024.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed Period of Report)
• 2024-05-10 — Filing Date (Filed as of Date)
• 2024-01-01 — Quarter Start Date (Reporting Period)
• 2023-03-31 — Prior Year Quarter End Date (Financial Data Comparison)

Key Players & Entities

• Hudson Global, Inc. (company) — Filer name
• 0001210708 (company) — Central Index Key
• 7363 (company) — Standard Industrial Classification Code
• 593547281 (company) — IRS Number
• DE (company) — State of Incorporation
• 53 Forest Avenue, Old Greenwich, CT 06870 (company) — Business Address
• HUDSON HIGHLAND GROUP INC (company) — Former Company Name
• 2034095628 (company) — Business Phone Number

FAQ

Industry Context

Hudson Global, Inc. operates in the services sector, specifically within help supply services (SIC 7363). This 10-Q filing provides insights into its operational and financial performance within this industry.

Regulatory Implications

The filing is a standard Form 10-Q, which is a mandatory quarterly report filed by public companies with the U.S. Securities and Exchange Commission (SEC) to provide updates on their financial condition.

What Investors Should Do

1. Analyze the consolidated balance sheets for changes in assets, liabilities, and equity from the previous quarter.
2. Examine the consolidated statements of operations to understand revenue trends and profitability for the quarter.
3. Review the management's discussion and analysis (MD&A) section for insights into the company's performance drivers and outlook.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-10: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the first quarterly report for fiscal year 2024, providing updated financial information compared to the previous year's Q1 filing and the most recent annual report.

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value HSON The NASDAQ Stock Market

Filing Documents

• hson-20240331.htm (10-Q) — 1334KB
• hson-20240331exx311.htm (EX-31.1) — 11KB
• hson-20240331exx312.htm (EX-31.2) — 11KB
• hson-20240331exx321.htm (EX-32.1) — 4KB
• hson-20240331exx322.htm (EX-32.2) — 5KB
• 0001210708-24-000032.txt (&nbsp;) — 7652KB
• hson-20240331.xsd (EX-101.SCH) — 42KB
• hson-20240331_cal.xml (EX-101.CAL) — 67KB
• hson-20240331_def.xml (EX-101.DEF) — 223KB
• hson-20240331_lab.xml (EX-101.LAB) — 574KB
• hson-20240331_pre.xml (EX-101.PRE) — 416KB
• hson-20240331_htm.xml (XML) — 1267KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) Condensed Consolidated Statements of Operations - Three Months Ended March 31, 2024 and 2023 1 Condensed Consolidated Statements of Other Comprehensive (Loss) Income - Three Months Ended March 31, 2024 and 2023 2 Condensed Consolidated Balance Sheets – March 31, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Cash Flows - Three Months Ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Equity – Three Months Ended March 31, 2024 and 2023 5 Notes to Condensed Consolidated Financial Statements 6

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 28

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 40

Controls and Procedures

Item 4. Controls and Procedures 40

– OTHER INFORMATION

PART II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 41

Risk Factors

Item 1A. Risk Factors 41

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 41

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 42

Other Information

Item 5. Other Information 42

Exhibits

Item 6. Exhibits 43 Exhibit Index 43

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS HUDSON GLOBAL, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) (unaudited) Three Months Ended March 31, 2024 2023 Revenue $ 33,891 $ 43,072 Operating expenses: Direct contracting costs and reimbursed expenses 17,561 21,308 Salaries and related 15,166 17,478 Office and general 2,929 2,939 Marketing and promotion 878 981 Depreciation and amortization 397 348 Total operating expenses 36,931 43,054 Operating (loss) income ( 3,040 ) 18 Non-operating income (expense): Interest income, net 93 64 Other (expense) income, net ( 39 ) 133 (Loss) income before income taxes ( 2,986 ) 215 Benefit from income taxes ( 88 ) ( 139 ) Net (loss) income $ ( 2,898 ) $ 354 Earnings (loss) per share: Basic $ ( 0.95 ) $ 0.12 Diluted $ ( 0.95 ) $ 0.11 Weighted-average shares outstanding: Basic 3,041 3,033 Diluted 3,041 3,122 See accompanying notes to Condensed Consolidated Financial Statements. - 1 - HUDSON GLOBAL, INC. CONDENSED CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE (LOSS) INCOME (in thousands, except per share amounts) (unaudited) Three Months Ended March 31, 2024 2023 Comprehensive (loss) income: Net (loss) income $ ( 2,898 ) $ 354 Other comprehensive loss: Foreign currency translation adjustment, net of income taxes ( 636 ) ( 9 ) Total other comprehensive loss, net of income taxes ( 636 ) ( 9 ) Comprehensive (loss) income $ ( 3,534 ) $ 345 See accompanying notes to Condensed Consolidated Financial Statements. - 2 - HUDSON GLOBAL, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except per share amounts) (unaudited) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 20,414 $ 22,611 Accounts receivable, less allowance for expected credit losses of $ 368 and $ 378 , respectively 20,970 19,710 Restricted cash, current 391 354 Prepaid and other 2,768 3,172 Total current assets 44,543 45,847 Propert

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View this 10-Q filing on SEC EDGAR