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HireQuest (HQI) investor relations material
HireQuest Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue for Q2 2025 declined 12% year-over-year to $7.6M amid a challenging hiring environment and macroeconomic uncertainty, with softness in manufacturing and IT sectors impacting results.
System-wide sales fell 13.9% to $125.9M, mainly due to lower sales at MRI, HQ Direct, and Snelling/HQ.
Temporary staffing and day labor outperformed executive search, but regional and sector-specific weaknesses persisted, especially in the Upper Midwest.
Franchise model and strong brands provided operational resilience, maintaining profitability and margins despite industry headwinds.
Delivered solid profitability in Q2 2025 through expense control and M&A focus, positioning for demand recovery.
Financial highlights
Q2 2025 total revenue was $7.6M, down from $8.7M last year; franchise royalties were $7.3M versus $8.2M.
Net income for Q2 2025 was $1.1M ($0.08/diluted share), down from $2.0M ($0.15/diluted share) in Q2 2024.
Adjusted net income for Q2 2025 was $2.1M ($0.15/diluted share), down from $2.5M ($0.18/diluted share) last year.
Adjusted EBITDA for Q2 2025 was $3.3M (43% margin), down from $4.0M (47% margin) in Q2 2024.
Six-month revenue was $15.1M (down 11.6%), net income $2.4M, and adjusted EBITDA $6.1M (down from $7.4M).
Outlook and guidance
Management remains focused on cost control, executing its business model, and pursuing acquisitions to expand geographic footprint.
No significant recovery in sales yet, but some positive signs and client wins in food processing noted.
Sufficient liquidity is anticipated for the next 12 months, supported by cash, operations, and credit facility.
Intends to continue quarterly cash dividends, subject to board discretion and business results.
Workers' compensation expense expected to approach neutral next year, with further improvements anticipated.
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