Hudson Global Files Q3 2024 10-Q

TL;DR

**HUDSON GLOBAL (HUD) Q3 2024 10-Q FILED - FINANCIALS OUT**

AI Summary

Hudson Global, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter of 2024. Key financial figures and business segment information are presented, reflecting the company's activities in the help supply services sector.

Why It Matters

This filing provides investors with the latest financial health and operational performance of Hudson Global, Inc. for the third quarter of 2024, crucial for investment decisions.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the company operates in the competitive staffing industry, which can be subject to economic fluctuations.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
• 2024-01-01 — Reporting Period Start Date (Indicates the beginning of the fiscal quarter covered by the report.)
• 2023-09-30 — Prior Year Quarter End Date (For year-over-year comparison of financial performance.)

Key Players & Entities

• Hudson Global, Inc. (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 2024 Q3 (date) — Reporting quarter
• 7363 (dollar_amount) — Standard Industrial Classification code for Help Supply Services

FAQ

Key Financial Figures

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

Filing Documents

• hson-20240930.htm (10-Q) — 1668KB
• hson-20240930exx311.htm (EX-31.1) — 11KB
• hson-20240930exx312.htm (EX-31.2) — 11KB
• hson-20240930exx321.htm (EX-32.1) — 4KB
• hson-20240930exx322.htm (EX-32.2) — 5KB
• 0001210708-24-000081.txt ( ) — 8083KB
• hson-20240930.xsd (EX-101.SCH) — 43KB
• hson-20240930_cal.xml (EX-101.CAL) — 74KB
• hson-20240930_def.xml (EX-101.DEF) — 205KB
• hson-20240930_lab.xml (EX-101.LAB) — 478KB
• hson-20240930_pre.xml (EX-101.PRE) — 352KB
• hson-20240930_htm.xml (XML) — 1514KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) Condensed Consolidated Statements of Operations - Three and Nine Months Ended September 30, 2024 and 2023 1 Condensed Consolidated Statements of Other Comprehensive Income (Loss) - Three and Nine Months Ended September 30, 2024 and 2023 2 Condensed Consolidated Balance Sheets – September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Cash Flows - Nine Months Ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Equity – Three and Nine Months Ended September 30, 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 27

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 42

Controls and Procedures

Item 4. Controls and Procedures 42

– OTHER INFORMATION

PART II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 43

Risk Factors

Item 1A. Risk Factors 43

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 43

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 43

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 44

Exhibits

Item 6. Exhibits 44 Exhibit Index 44

– 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenue $ 36,853 $ 39,398 $ 106,456 $ 127,367 Operating expenses: Direct contracting costs and reimbursed expenses 18,250 20,028 53,908 63,650 Salaries and related 14,908 14,335 44,399 49,206 Office and general 2,823 2,503 8,164 7,991 Marketing and promotion 971 881 2,627 2,794 Depreciation and amortization 358 374 1,042 1,076 Total operating expenses 37,310 38,121 110,140 124,717 Operating (loss) income ( 457 ) 1,277 ( 3,684 ) 2,650 Non-operating income (expense): Interest income, net 93 90 280 284 Other (expense) income, net ( 184 ) ( 404 ) ( 318 ) ( 321 ) (Loss) income before income taxes ( 548 ) 963 ( 3,722 ) 2,613 Provision for income taxes 298 430 463 1,148 Net (loss) income $ ( 846 ) $ 533 $ ( 4,185 ) $ 1,465 (Loss) earnings per share: Basic $ ( 0.28 ) $ 0.17 $ ( 1.39 ) $ 0.48 Diluted $ ( 0.28 ) $ 0.17 $ ( 1.39 ) $ 0.47 Weighted-average shares outstanding: Basic 2,975 3,068 3,009 3,062 Diluted 2,975 3,141 3,009 3,134 See accompanying notes to Condensed Consolidated Financial Statements. - 1 - HUDSON GLOBAL, INC. CONDENSED CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE INCOME (LOSS) (in thousands, except per share amounts) (unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Comprehensive (loss) income: Net (loss) income $ ( 846 ) $ 533 $ ( 4,185 ) $ 1,465 Other comprehensive income (loss): Foreign currency translation adjustment, net of income taxes 1,124 ( 498 ) 606 ( 561 ) Total other comprehensive income (loss), net of income taxes 1,124 ( 498 ) 606 ( 561 ) Comprehensive (loss) income $ 278 $ 35 $ ( 3,579 ) $ 904 See accompanying notes to Condensed Consolidated Financial Statements. - 2 - HUDSON GLOBAL, INC. CONDENSED CONSOL

View Full Filing

View this 10-Q filing on SEC EDGAR