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GEE Group's SNI Companies Wins Clearlyrated's 2026 Best of Staffing Client and Talent 5 Year Diamond Awards for Service Excellence
Accessnewswire· 2026-02-20 16:55
Diamond award winners have won the Best of Staffing award for at least 5 years in a row, consistently earning industry-leading satisfaction scores from clients and placed talent. JACKSONVILLE, FL / ACCESS Newswire / February 20, 2026 / GEE Group Inc. (NYSE American:JOB) together with its subsidiaries (collectively referred to as the "Company," "GEE Group," "our" or "we"), a provider of professional staffing services and human resource solutions, today announced that its SNI Companies subsidiary's four main ...
GEE Group(JOB) - 2026 Q1 - Quarterly Results
2026-02-13 21:05
JACKSONVILLE, FL / ACCESS Newswire / February 12, 2026 / GEE Group Inc. (NYSE American: JOB) together with its subsidiaries (collectively referred to as the "Company," "GEE Group," "our" or "we"), a provider of professional staffing services and human resource solutions, today announced consolidated results for the fiscal 2026 first quarter ended December 31, 2025. The Company's contract and placement services are currently provided under its Professional Staffing Services operating division or segment. The ...
GEE Group(JOB) - 2026 Q1 - Earnings Call Transcript
2026-02-13 17:02
Financial Data and Key Metrics Changes - Consolidated revenues for the quarter were $20.5 million, down $3.5 million or 15% from the prior year quarter [13] - Gross profit was $7.4 million with a gross margin of 36.1%, compared to $7.9 million and 33% from the prior year quarter [15] - Net loss from continuing operations was $150,000 or $0.00 per diluted share, an improvement from a loss of $684,000 or $0.01 per diluted share in the prior year quarter [18] - Adjusted EBITDA was -$97,000 for the quarter, compared to -$304,000 for the prior quarter [19] Business Line Data and Key Metrics Changes - Contract staffing services revenues were $17.8 million, down $3.7 million or 17% from the prior year quarter [13] - Direct hire revenues were $2.7 million, up $200,000 or 8% from the prior year quarter [14] - Selling, general and administrative expenses were $7.7 million, down $700,000 or 9% from the prior year quarter [16] Market Data and Key Metrics Changes - The hiring environment for staffing services has been challenging due to over-hiring in 2021 and 2022, macroeconomic weakness, and persistent inflation [3][4] - Many businesses are implementing layoffs and hiring freezes, leading to lower volumes of business [4] Company Strategy and Development Direction - The company is focusing on integrating AI into its operations to enhance recruiting and sales processes [6] - Plans to restore profitability during fiscal 2026 include streamlining operations and improving productivity [17] - The company is also pursuing acquisitions in a disciplined manner, particularly in AI consulting and IT consulting [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to manage through current challenges and restore growth and profitability [10] - The company believes its stock is undervalued and anticipates upward movement in share price once normal economic conditions return [11] Other Important Information - The company has a strong liquidity position with $20.1 million in cash and no outstanding debt [19] - The acquisition of Hornet Staffing is seen as a valuable opportunity for growth [22] Q&A Session Questions and Answers Question: What incentives would need to be put in place for management to consider a value realization event? - Management has existing employment agreements that provide necessary incentives, so no additional incentives are needed [24] Question: Is an activist investor takeover the only route towards getting a return for shareholders? - No, the board and management are committed to acting in the best interest of shareholders [25] Question: If the company was sold at a comparable multiple to peers, why is it not actively pursuing this? - There are non-public actions being taken that have not yet been disclosed, and the company believes any offer will be better than the suggested 150% increase [26] Question: When is it time for dramatic changes to correct the lower stock value? - The company is working on several new initiatives to address this concern [27] Question: Can you provide more color on what multiple offers you mentioned? - Specific details cannot be disclosed at this time, but they are being evaluated [27]
GEE Group(JOB) - 2026 Q1 - Earnings Call Transcript
2026-02-13 17:02
Financial Data and Key Metrics Changes - Consolidated revenues for the quarter were $20.5 million, down $3.5 million or 15% from the prior year quarter [13] - Gross profit was $7.4 million with a gross margin of 36.1%, compared to $7.9 million and 33% from the prior year quarter [15] - Net loss from continuing operations was $150,000 or $0.00 per diluted share, an improvement from a loss of $684,000 or $0.01 per diluted share in the prior year quarter [18] Business Line Data and Key Metrics Changes - Contract staffing services revenues were $17.8 million, down $3.7 million or 17% from the prior year quarter [13] - Direct hire revenues increased to $2.7 million, up $200,000 or 8% from the prior year quarter [14] - Selling, general and administrative expenses were $7.7 million, down $700,000 or 9% from the prior year quarter [16] Market Data and Key Metrics Changes - The hiring environment for staffing services has been challenging due to over-hiring in 2021 and 2022, along with macroeconomic weaknesses [3][4] - Many businesses are implementing layoffs and hiring freezes, leading to lower volumes of business [4] - The company anticipates stabilization in the use of contingent labor as some businesses begin new projects [5] Company Strategy and Development Direction - The company is focusing on integrating AI into its operations to enhance recruiting and sales processes [6] - Plans to restore profitability during fiscal 2026 include streamlining operations and reducing SG&A expenses [17] - The company is also considering strategic alternatives to enhance shareholder value, including potential acquisitions [12][20] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to manage through current challenges and restore growth and profitability [10] - The company has a strong balance sheet with substantial liquidity, positioning it well for future growth [10] - Management remains cautious in the near-term outlook but is committed to long-term improvements [20] Other Important Information - The company completed the acquisition of Hornet Staffing in fiscal 2025 and is looking for additional acquisition opportunities [20] - The current working capital ratio is 5.3 to 1, with $20.1 million in cash and no outstanding debt [19] Q&A Session Questions and Answers Question: What incentives would need to be put in place for management to consider a value realization event? - Management has existing employment agreements that provide necessary incentives, so no additional incentives are needed [24] Question: Is an activist investor takeover the only route towards getting a return for shareholders? - No, the board and management are committed to acting in the best interest of shareholders [25] Question: If the company was sold at a comparable multiple to BGSF's recent sale, why is the company not actively pursuing this? - The company evaluates proposals to maximize shareholder value and believes that any potential offer would be better than the current stock price [26] Question: When is it time for dramatic changes to correct the lower stock value? - Management agrees that changes are necessary and is working on several new initiatives [27] Question: Can you provide more color on what multiple offers you mentioned included? - Specific details cannot be disclosed at this time, but they are being evaluated [27]
GEE Group(JOB) - 2026 Q1 - Earnings Call Transcript
2026-02-13 17:00
Financial Data and Key Metrics Changes - Consolidated revenues for the quarter were $20.5 million, down $3.5 million or 15% from the prior year quarter [12] - Gross profit was $7.4 million with a gross margin of 36.1%, compared to $7.9 million and 33% from the prior year quarter [13] - Net loss from continuing operations was $150,000 or $0.00 per diluted share, an improvement from a loss of $684,000 or $0.01 per diluted share in the prior year quarter [16] - Non-GAAP adjusted EBITDA was -$97,000 for the quarter, compared to -$304,000 for the prior quarter [17] Business Line Data and Key Metrics Changes - Contract staffing services revenues were $17.8 million, down $3.7 million or 17% from the prior year quarter [12] - Direct hire revenues increased to $2.7 million, up $200,000 or 8% from the prior year quarter [13] - Selling, general and administrative expenses were $7.7 million, down $700,000 or 9% from the prior year quarter [14] Market Data and Key Metrics Changes - The hiring environment for staffing services has been challenging since the second half of 2023 due to over-hiring in 2021 and 2022, macroeconomic weakness, and persistent inflation [3][4] - Many businesses are implementing layoffs and hiring freezes, leading to lower volumes of business [4] Company Strategy and Development Direction - The company is focusing on integrating AI into its operations to enhance recruiting and sales processes [6] - Plans to restore profitability during fiscal 2026 include streamlining operations and reducing SG&A expenses [15] - The company aims to pursue acquisitions in a disciplined manner, particularly in AI consulting and IT consulting sectors [18] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to manage through current challenges and restore growth and profitability [9] - The company has a strong balance sheet with substantial liquidity, positioning it well for future growth [9] Other Important Information - The company completed the acquisition of Hornet Staffing in fiscal 2025 and is focusing on VMS and MSP sourced business [8] - The company believes its stock is undervalued and anticipates upward movement in share price once normal economic conditions resume [10] Q&A Session Questions and Answers Question: What incentives would need to be put in place for management to consider a value realization event? - Management has existing employment agreements that provide necessary incentives, so no additional incentives are needed [22] Question: Is an activist investor takeover the only route towards getting a return for shareholders? - No, the board and management are committed to acting in the best interest of shareholders [23] Question: If the company was sold at a comparable multiple to BGSF's recent sale, why is the company not actively pursuing this? - The company evaluates proposals to maximize shareholder value and believes that any potential offer would be better than the suggested 150% increase [24] Question: When is it time for dramatic changes to correct the lower stock value? - The company is working on several new initiatives to address this concern [25] Question: Can you provide more color on what multiple offers you mentioned? - Specific details cannot be disclosed at this time, but they are being evaluated [25]
GEE Group Announces Results for the Fiscal 2026 First Quarter Ended December 31, 2025
Accessnewswire· 2026-02-12 21:30
JACKSONVILLE, FL / ACCESS Newswire / February 12, 2026 / GEE Group Inc. (NYSE American:JOB) together with its subsidiaries (collectively referred to as the "Company," "GEE Group," "our" or "we"), a provider of professional staffing services and human resource solutions, today announced consolidated results for the fiscal 2026 first quarter ended December 31, 2025. The Company's contract and placement services are currently provided under its Professional Staffing Services operating division or segment. ...
GEE Group(JOB) - 2026 Q1 - Quarterly Report
2026-02-12 21:25
Financial Performance - GEE Group Inc. reported net losses of $(150) thousand for the fiscal first quarter ended December 31, 2025, compared to $(692) thousand for the same period in 2024, indicating a reduction in losses due to cost-cutting measures [99]. - Consolidated net revenues for the three months ended December 31, 2025, were $20,516 thousand, a decrease of $3,509 thousand or 15% from $24,025 thousand in 2024 [109]. - Professional contract staffing services contributed $17,800 thousand, approximately 87% of consolidated revenue, down from $21,514 thousand or 90% in the prior year, reflecting a 17% decline [109]. - Direct hire placement services revenue increased by $205 thousand or 8%, reaching $2,716 thousand for the three months ended December 31, 2025, compared to $2,511 thousand in 2024 [111]. - Loss from operations improved to $(409) million from $(773) million for the three-month periods ended December 31, 2025, and 2024, due to cost reductions and productivity improvements [120]. - Consolidated net loss was $(150) million for the three-month period ended December 31, 2025, compared to $(692) million for the same period in 2024, reflecting improved operational efficiency [127]. Cost Management - Cost of contract services decreased by approximately 19% to $13,111 thousand for the three months ended December 31, 2025, down from $16,099 thousand in 2024, aligning with revenue declines [113]. - Selling, general, and administrative expenses (SG&A) decreased by $731 thousand, with SG&A as a percentage of revenues rising to approximately 37.6% in Q1 2025 from 35.1% in Q1 2024 due to lower revenues [117]. - Amortization expense decreased to $60 million from $205 million year-over-year for the three-month periods ended December 31, 2025, and 2024 [119]. Strategic Initiatives - The acquisition of Hornet Staffing, effective January 3, 2025, is expected to enhance GEE Group's competitive position and contribute to earnings growth [103]. - GEE Group's strategy includes both organic growth and strategic acquisitions, focusing on enhancing profitability and cash flows through cost reductions and operational efficiencies [97]. Industry Outlook - The U.S. Staffing Industry is projected to decline by 3% in 2025, following a 12% decline in 2024, influenced by economic uncertainties and client caution [112]. Cash Flow and Liquidity - Cash flows used in operating activities were $(1,194) million for the three months ended December 31, 2025, compared to $(1,117) million in 2024 [129]. - As of December 31, 2025, the company had $20,149 million in cash, a decrease of $1,215 million from $21,364 million as of September 30, 2025 [129]. - The company had $4,166 million available for borrowings under its facility as of December 31, 2025, with no outstanding borrowings [131]. - Minimum lease payments under all lease agreements for the twelve-month period commencing after December 31, 2025, are approximately $1,185 million [133]. Other Income - Other income was $196 million for the three months ended December 31, 2025, resulting from the elimination of a portion of Promissory Notes [124]. - Interest income decreased to $128 million from $155 million for the three-month periods ended December 31, 2025, and 2024, primarily due to lower interest rates [123].
GEE Group to Hold Investor Conference Call to Discuss 2026 Fiscal First Quarter Results
Accessnewswire· 2026-02-11 21:30
JACKSONVILLE, FL / ACCESS Newswire / February 11, 2026 / GEE Group Inc. (NYSE American:JOB) together with its subsidiaries (collectively referred to as the "Company", "GEE Group", "us", "our", or "we"), a provider of professional staffing services and human resource solutions, today announced that it will hold an investor webcast/conference call on Friday, February 13, 2026 at 11a.m. EST to review and discuss its December 31, 2025 Fiscal First Quarter results. ...
GEE Group Addresses Star Equity's Public Commentary Regarding Indication of Interest
Accessnewswire· 2026-01-22 22:00
Core Viewpoint - GEE Group Inc. has responded to public commentary from Star Equity Holdings regarding an Indication of Interest received on January 6, 2026 [1] Group 1 - GEE Group Inc. is a provider of professional staffing services and human resource solutions [1] - The company received an Indication of Interest (IOI) from Star Equity Holdings via email on January 6, 2026 [1]
Star Equity Issues Statement on GEE Group's Lack of Engagement
Globenewswire· 2026-01-22 13:30
Core Viewpoint - Star Equity Holdings, Inc. has proposed a merger with GEE Group, Inc. to enhance value for GEE Group's shareholders, citing the need for GEE Group to join a larger entity rather than continuing its independent strategy [1][2]. Group 1: Proposal Rationale - The proposal suggests that GEE Group should abandon its "go it alone" strategy, as remaining a small public company is detrimental to shareholder value due to high SG&A expenses [2]. - A merger with Star Equity would eliminate duplicative public company costs and create potential cost-saving synergies [2]. - GEE Group's past acquisition performance has been poor, indicating that it should focus on being a seller rather than a buyer [2]. Group 2: Financial Performance Concerns - GEE Group's revenue for FY 2025 was $96.5 million, a 41.6% decline from FY 2022 and a 9.8% decline from FY 2024 [3]. - The company reported net losses of $58.8 million over the last two years, including $36.2 million from goodwill impairment charges, highlighting issues with previous acquisitions [3][4]. - JOB's stock price has declined nearly 92% from five years ago, reflecting market concerns over GEE Group's financial performance and capital allocation [5]. Group 3: Market Sentiment and Strategy - The stock price has traded close to its cash per share since April 2025, indicating a loss of confidence in GEE Group's management and strategy [5]. - GEE Group's management has expressed a preference for acquisitions over share repurchases, which could be detrimental to shareholder value given the high multiples in the staffing industry [6]. - Star Equity believes that its proposal would significantly benefit JOB stockholders by reducing corporate overhead costs and improving operational efficiency [12].