• Revenue: $35.7 million, down 20% year-over-year in constant currency.

• Adjusted Net Revenue: $17.6 million, down 22% year-over-year in constant currency.

• Adjusted EBITDA: $0.7 million, compared to $2.6 million a year ago.

• Net Loss: $0.4 million or $0.15 per diluted share, versus net income of $0.6 million or $0.18 per diluted share last year.

• Adjusted Net Income per Diluted Share: $0.04, compared to $0.36 in the second quarter of 2023.

• Americas Revenue: Decreased 19% year-over-year in constant currency.

• Americas Adjusted Net Revenue: Decreased 24% year-over-year in constant currency.

• Americas Adjusted EBITDA: $0.6 million, compared to breakeven last year.

• Asia Pacific Revenue: Decreased 19% year-over-year in constant currency.

• Asia Pacific Adjusted EBITDA: $0.8 million, compared to $2.5 million a year ago.

• EMEA Revenue: Decreased 24% year-over-year in constant currency.

• EMEA Adjusted Net Revenue: Decreased 23% year-over-year in constant currency.

• EMEA Adjusted EBITDA: $0.3 million, compared to $1.1 million last year.

• Cash: $15.3 million, including $0.6 million of restricted cash.

• Cash Flow from Operations: Used $4.3 million, compared to $2.6 million generated last year.

• Day Sales Outstanding: 59 days at June 30, 2024, compared to 52 days at March 31, 2024.

• Share Repurchases: Over 150,000 shares for $2.5 million, including 87,000 shares for $1.5 million in Q2 2024.

• Warning! GuruFocus has detected 5 Warning Signs with HSON.

Release Date: August 08, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Hudson Global Inc (NASDAQ:HSON) expanded its geographical footprint and service offerings with the acquisition of Striver, a UAE-based talent acquisition firm.

• The company has prioritized its 'land and expand' strategy within its existing client base, adding significant scope to key client relationships.

• Hudson Global Inc (NASDAQ:HSON) has implemented internal changes and cost-saving initiatives to protect profitability and optimize talent.

• The company has a robust sales pipeline and is encouraged by client feedback and new business wins.

• Hudson Global Inc (NASDAQ:HSON) continues to view share repurchases as an attractive use of capital, having repurchased over 150,000 shares for $2.5 million under its $5 million share repurchase program.

Negative Points

• Revenue for the second quarter of 2024 was $35.7 million, down 20% year-over-year in constant currency.

• Adjusted net revenue decreased by 22% year-over-year in constant currency.

• The company reported a net loss of $0.4 million or $0.15 per diluted share, compared to net income of $0.6 million or $0.18 per diluted share in the same period last year.

• Adjusted EBITDA for the second quarter was $0.7 million, significantly lower than the $2.6 million reported a year ago.

• Hudson Global Inc (NASDAQ:HSON) used $4.3 million in cash flow from operations during the second quarter of 2024, compared to $2.6 million of cash generated from operations in the second quarter of 2023.