PITTSBURGH, Oct. 30, 2024 /PRNewswire/ -- Mastech Digital, Inc. (NYSE American: MHH), a leading provider of Digital Transformation IT Services, has scheduled a conference call to discuss the results for the third quarter ended September 30, 2024. The conference call will occur on Wednesday, November 6th at 9:00 a.m. Eastern Time and will be hosted by Mr. Vivek Gupta, CEO, and Mr. Jack Cronin, CFO. The conference call can be accessed through a listen-only dial-in number or through a live webcast. To listen t ...

Company Overview - Mastech Digital, Inc. is a leading provider of Digital Transformation IT Services, offering Data Management and Analytics Solutions, Digital Learning, and IT Staffing Services with a Digital First approach [6] - The company is headquartered in Pittsburgh, PA, and operates offices across the U.S., Canada, Europe, and India [6] - Mastech Digital is a minority-owned enterprise [6] Conference Call Details - A conference call is scheduled to discuss the results for the second quarter ended June 30, 2024, on August 7th at 9:00 a.m. Eastern Time [5] - The call will be hosted by Mr. Vivek Gupta, CEO, and Mr. Jack Cronin, CFO [5] - Investors can access the call through a listen-only dial-in number or a live webcast [5][1] Replay Information - A replay of the conference call will be available for 7 days following its conclusion [3] - Domestic callers can access the replay by dialing 877-660-6853 and entering conference number 13747171, while international callers can dial 201-612-7415 [3]

Table of Contents (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-34099 MASTECH DIGITAL, INC. (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q PENNSYLVANIA 26-2753540 (State or other jurisdiction of incorpor ...

PITTSBURGH, PA – May 8, 2024—Mastech Digital, Inc. (NYSE American: MHH), a leading provider of Digital Transformation IT Services, announced today its financial results for the first quarter ended March 31, 2024. First Quarter 2024 Highlights: First Quarter Results: Revenues for the first quarter of 2023 totaled $46.8 million, compared to $55.1 million during the corresponding quarter of 2023. Gross profits in the first quarter of 2024 were $12.1 million, compared to $13.5 million in the same quarter of 202 ...

The IT Staffing Services Segment Increases its Billable Consultant Base by 6% during the Quarter   PITTSBURGH, May 8, 2024 /PRNewswire/ -- Mastech Digital, Inc. (NYSE American: MHH), a leading provider of Digital Transformation IT Services, announced today its financial results for the first quarter ended March 31, 2024.   First Quarter 2024 Highlights: Total consolidated revenues declined by 15% to $46.8 million, compared to revenues of $55.1 million in the first quarter of 2023. However, total consolidat ...

PITTSBURGH, April 23, 2024 /PRNewswire/ -- Mastech Digital, Inc. (NYSE American: MHH), a leading provider of Digital Transformation IT Services, has scheduled a conference call to discuss the results for the first quarter ended March 31, 2024. The conference call will occur on Wednesday, May 8th at 9:00 a.m. Eastern Time and will be hosted by  Mr. Vivek Gupta, CEO, and Mr. Jack Cronin, CFO. The conference call can be accessed through a listen-only dial-in number or through a live webcast. To listen to the c ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-34099 MASTECH DIGITAL, INC. (Exact name of registrant as specified in its charter) PENNSYLVANIA 26-2753540 (State or other jurisdiction of incorporation ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-34099 | Securities registered pursuant to Section 12(b) of the Act: | | | | --- | --- | --- | | Trading | | Name of each exchange | | Title of ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-34099 MASTECH DIGITAL, INC. (Exact name of registrant as specified in its charter) PENNSYLVANIA 26-2753540 (State or other jurisdiction of incorpora ...

Revenue Performance - For the three months ended March 31, 2023, total revenues were $55,063,000, a decrease of 7.2% from $59,755,000 in the same period of 2022[43]. - The Data and Analytics Services segment generated $9,395,000 in revenue, down from $10,152,000, reflecting a decline of 7.5% year-over-year[42]. - The IT Staffing Services segment reported revenues of $45,668,000, a decrease of 7.4% from $49,603,000 in the prior year[43]. - Revenue from the United States was $53,755,000, down from $58,347,000, representing a decline of 7.3% year-over-year[44]. - Total revenues for Q1 2023 were $55.1 million, an 8% decrease from $59.8 million in Q1 2022, with a 7% decline in Data and Analytics Services and an 8% decline in IT Staffing Services[100]. Client Concentration - The top ten clients accounted for approximately 56% of total revenues in Q1 2023, compared to 51% in Q1 2022, indicating increased client concentration[44]. - The company's top ten clients represented approximately 56% of total revenues in Q1 2023, up from 51% in Q1 2022, indicating a higher revenue concentration[100]. Gross Profit and Margins - Gross profits for Q1 2023 were $13.5 million, down 15% from $15.9 million in Q1 2022, with a gross margin percentage of 24.5% compared to 26.7% in the prior year[103]. - Gross margin for Data and Analytics Services segment decreased to 38.5% in Q1 2023 from 45.2% in Q1 2022, attributed to lower utilization and project margins[104]. - IT Staffing Services segment gross margin fell to 21.6% in Q1 2023 from 22.9% in Q1 2022, primarily due to a $0.4 million reduction in permanent placement fees[105]. Operating Expenses - Total SG&A expenses increased to $12.9 million in Q1 2023, representing 23.5% of total revenues, compared to $12.6 million or 21.1% in Q1 2022[106]. - General and administrative expenses rose by $1.6 million in Q1 2023, driven by higher executive compensation and legal expenses[109]. Tax and Income - The total provision for income taxes for Q1 2023 was $218,000, a decrease of 76.1% from $915,000 in Q1 2022[71]. - Domestic income before income taxes for Q1 2023 was $2,080,000, down 37.2% from $3,315,000 in Q1 2022[70]. - Income tax expense for Q1 2023 was $218,000, with an effective tax rate of 45.5%, up from $915,000 and 28.2% in Q1 2022, due to valuation allowances related to foreign NOLs[108]. Cash Flow and Liquidity - Cash provided by operating activities was $3.1 million in Q1 2023, compared to $1.6 million in Q1 2022, with net income of $0.3 million[113]. - As of March 31, 2023, the company had cash balances of $9.1 million and $31.5 million of borrowing capacity under its credit facility[110]. - Accounts receivable "days sales outstanding" (DSOs) improved to 61 days as of March 31, 2023, down three days from the previous year[111]. - Cash used in investing activities was ($7,000) in Q1 2023, compared to ($646,000) in Q1 2022, reflecting a decrease in capital expenditures[114]. Shareholder Actions - The Company authorized a share repurchase program of up to 500,000 shares on February 8, 2023, with no shares repurchased in Q1 2023[74]. - During Q1 2023, the Company granted 19,924 restricted share units and 100,000 stock options at a strike price of $11.53[57]. - Stock-based compensation expense for Q1 2023 was $835,000, up from $526,000 in Q1 2022, reflecting an increase of 58.6%[58]. - The Company issued 17,804 shares in Q1 2023 compared to 90,933 shares in Q1 2022, indicating a decrease of 80.5%[58]. - As of March 31, 2023, there were 492,565 shares available for purchase under the Employee Stock Purchase Plan[61]. Debt and Liabilities - As of March 31, 2023, the Company had total lease liabilities of $3,444,000, down from $3,798,000 as of December 31, 2022[50]. - The Company had outstanding borrowings under the term loan of $0 as of March 31, 2023, down from $1.1 million at December 31, 2022[69]. - The Company prepaid $7.6 million of the outstanding term loan in August 2022, bringing the balance to zero by January 3, 2023[64]. - The Company deferred $4.6 million of the employer's share of social security tax under the CARES Act, with no balance reflected in the Consolidated Balance Sheets as of March 31, 2023[53]. Audit and Compliance - The Company’s Canadian subsidiary is currently under audit by Revenue Canada for the years 2018 and 2019[73]. - The company adopted ASU 2021-08 on January 1, 2023, with no material impact on financial statements, reflecting ongoing compliance with accounting standards[82]. Economic Conditions - Economic uncertainty continued to impact demand for IT Staffing Services in Q1 2023, with reduced client investment in new projects[94].