$HSON
Hudson Global, Inc.

2023 Q3 Form 10-Q Financial Statement

#000121070823000087 Filed on August 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $39.40M $44.90M
YoY Change -19.08% -11.9%
Cost Of Revenue $20.00M $22.31M
YoY Change -18.32% -5.8%
Gross Profit $19.40M $22.58M
YoY Change -19.83% -17.2%
Gross Profit Margin 49.24% 50.3%
Selling, General & Admin $17.70M $20.87M
YoY Change -21.51% -9.47%
% of Gross Profit 91.24% 92.43%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $380.0K $354.0K
YoY Change 6.74% 5.04%
% of Gross Profit 1.96% 1.57%
Operating Expenses $38.12M $43.54M
YoY Change -19.63% -7.52%
Operating Profit $1.277M $1.355M
YoY Change 1.67% -65.08%
Interest Expense $90.00K $130.0K
YoY Change 291.3% 4233.33%
% of Operating Profit 7.05% 9.59%
Other Income/Expense, Net -$404.0K -$50.00K
YoY Change -2625.0% 455.56%
Pretax Income $963.0K $1.435M
YoY Change -25.64% -62.96%
Income Tax $430.0K $857.0K
% Of Pretax Income 44.65% 59.72%
Net Earnings $533.0K $578.0K
YoY Change -44.19% -81.31%
Net Earnings / Revenue 1.35% 1.29%
Basic Earnings Per Share $0.17 $0.19
Diluted Earnings Per Share $0.17 $0.18
COMMON SHARES
Basic Shares Outstanding 2.823M shares 2.842M shares
Diluted Shares Outstanding 3.141M shares 3.138M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.60M $22.64M
YoY Change -3.6% -12.42%
Cash & Equivalents $21.61M $22.64M
Short-Term Investments
Other Short-Term Assets $2.500M $2.964M
YoY Change -5.02% 53.18%
Inventory
Prepaid Expenses
Receivables $24.89M $27.46M
Other Receivables $0.00 $0.00
Total Short-Term Assets $48.96M $53.06M
YoY Change -9.66% -10.71%
LONG-TERM ASSETS
Property, Plant & Equipment $478.0K $555.0K
YoY Change -29.39% 24.44%
Goodwill $4.871M $4.879M
YoY Change -0.27% 15.64%
Intangibles $3.694M $3.974M
YoY Change -22.98% -19.44%
Long-Term Investments
YoY Change
Other Assets $12.00K $14.00K
YoY Change -7.69% 180.0%
Total Long-Term Assets $11.80M $12.68M
YoY Change -7.63% 3.7%
TOTAL ASSETS
Total Short-Term Assets $48.96M $53.06M
Total Long-Term Assets $11.80M $12.68M
Total Assets $60.76M $65.75M
YoY Change -9.27% -8.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $613.0K $1.323M
YoY Change -58.8% 32.43%
Accrued Expenses $6.265M $7.812M
YoY Change -11.47% -5.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $13.12M $17.91M
YoY Change -39.25% -29.96%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $442.0K $452.0K
YoY Change -14.84% 18.02%
Total Long-Term Liabilities $442.0K $452.0K
YoY Change -14.84% 18.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.12M $17.91M
Total Long-Term Liabilities $442.0K $452.0K
Total Liabilities $14.12M $19.06M
YoY Change -37.51% -28.05%
SHAREHOLDERS EQUITY
Retained Earnings -$426.0M -$426.5M
YoY Change -0.35% -0.44%
Common Stock $492.6M $492.4M
YoY Change 0.31% 0.39%
Preferred Stock
YoY Change
Treasury Stock (at cost) $17.74M $17.53M
YoY Change 6.2% 12.68%
Treasury Stock Shares
Shareholders Equity $46.64M $46.68M
YoY Change
Total Liabilities & Shareholders Equity $60.76M $65.75M
YoY Change -9.27% -8.25%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $533.0K $578.0K
YoY Change -44.19% -81.31%
Depreciation, Depletion And Amortization $380.0K $354.0K
YoY Change 6.74% 5.04%
Cash From Operating Activities -$710.0K $2.649M
YoY Change 745.24% -64.99%
INVESTING ACTIVITIES
Capital Expenditures $20.00K $1.000K
YoY Change -106.67% -102.7%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$20.00K -$1.000K
YoY Change -98.22% -97.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -220.0K -1.868M
YoY Change -87.58%
NET CHANGE
Cash From Operating Activities -710.0K 2.649M
Cash From Investing Activities -20.00K -1.000K
Cash From Financing Activities -220.0K -1.868M
Net Change In Cash -950.0K 780.0K
YoY Change -68.12% -89.64%
FREE CASH FLOW
Cash From Operating Activities -$710.0K $2.649M
Capital Expenditures $20.00K $1.000K
Free Cash Flow -$730.0K $2.648M
YoY Change -437.96% -65.18%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2022Q4 us-gaap Preferred Stock Shares Issued
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CY2022Q2 us-gaap Stockholders Equity
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us-gaap Nature Of Operations
NatureOfOperations
DESCRIPTION OF BUSINESS<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    The Company is comprised of the operations, assets, and liabilities of the Company’s three regional businesses: the Americas, Asia Pacific, and Europe. The Company delivers Recruitment Process Outsourcing (“RPO”), services consisting of permanent recruitment and contracting outsourced recruitment solutions. These services are tailored to the individual needs of primarily mid-to-large-cap multinational companies. The Company’s RPO delivery teams utilize recruitment process methodologies and project management expertise to meet clients’ ongoing business needs. The Company’s RPO services include complete recruitment outsourcing, project-based outsourcing, contingent workforce solutions, and recruitment consulting.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s core service offering is RPO, consisting of RPO Recruitment and Contracting. The Company provides complete recruitment outsourcing, project-based outsourcing, and recruitment consulting for clients’ permanent staff hires. Hudson’s RPO Recruitment services leverage the Company’s consultants, supported by the Company’s specialists, in the delivery of its proprietary methods to identify, select, and engage the best-fit talent for critical client roles. In addition, the Company provides RPO clients with a range of outsourced professional contract staffing services and managed service provider services offered sometimes on a standalone basis and sometimes as part of a blended total talent solution. These services draw upon a combination of specialized recruiting and project management competencies to deliver a wide range of solutions. Hudson-employed professionals - either individually or as a team - are placed with client organizations for a defined period of time based on specific business needs of the client.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company operates directly in fourteen countries with three reportable geographic business segments: Americas, Asia Pacific, and Europe. See Note 15 to the Condensed Consolidated Financial Statements for further details regarding the reportable segments. </span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2019, a novel virus, referred to as COVID-19, was reported. On March 11, 2020, the World Health Organization declared the outbreak to be a pandemic, based on the rapid increase in exposure globally. Despite the decline in infection rates, the COVID-19 pandemic continues to have a lasting impact on various aspects of our business including but not limited to workforce shortages. </span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company believes it can continue to take appropriate actions to manage the business in this challenging environment due to the flexibility of its workforce and the strength of its balance sheet.</span></div>
CY2022Q2 hson Bonuses Approved And Paid
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hson Bonuses Approved And Paid
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CY2023Q2 us-gaap Assets
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CY2023Q2 us-gaap Assets Net
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10064000 usd
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CY2018Q4 us-gaap Class Of Warrant Or Right Unissued
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CY2018Q4 hson Warrantsand Rights Preferred Stockto Common Stock Conversion Treatment
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CY2018Q4 hson Warrants And Rights Not Exercisable Numberof Days After Public Announcementof Acquiring Person
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P10D
CY2018Q4 hson Warrants And Rights Not Exercisable Numberof Days After Tenderor Exchange Offer Is Completed By Acquiring Person
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P10D
CY2018Q4 hson Warrantsand Rights Optionto Exercise Market Value Multiplierof Purchase Price
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2
CY2018Q4 hson Warrantsand Rights Optionto Exercise Market Value Multiplierof Purchase Price
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CY2018Q4 us-gaap Temporary Equity Redemption Price Per Share
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0.001
CY2018Q4 us-gaap Temporary Equity Redemption Price Per Share
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hson-20230630_pre.xml Edgar Link unprocessable
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0001210708-23-000087-index.html Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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