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 ...

Financial Data and Key Metrics Changes - Fourth quarter 2023 revenues totaled $46.1 million, representing a 20% year-over-year revenue decline, with both business segments contributing to this decline [100] - Non-GAAP net income for Q4 2023 was $1.3 million or $0.11 per diluted share, compared to $2.8 million or $0.23 per diluted share in Q4 2022 [78] - GAAP net income for Q4 2023 was a loss of $5.4 million or negative $0.46 per diluted share, compared to a profit of $1.5 million or $0.13 per diluted share in Q4 2022, including a $5.3 million goodwill impairment charge [102] - Full year 2023 revenues were $201.1 million, down 17% year-over-year [79] - GAAP diluted earnings per share for 2023 was a loss of $0.61, compared to a profit of $0.72 in 2022 [80] - Gross margins for the full year 2023 totaled 25.4%, compared to 26.1% in 2022 [104] Business Segment Data and Key Metrics Changes - IT Staffing Services segment revenues in Q4 2023 totaled $37.9 million, down from $48.1 million in Q4 2022, with a modest sequential revenue increase over Q3 2023 [4][5] - Data and Analytics Services segment reported revenues of $8.2 million in Q4 2023, down from $9.1 million in Q4 2022, as customers reduced resources on existing projects [76] - Gross margins in the Data and Analytics Services segment improved to 44.7% in Q4 2023, compared to 37% in Q4 2022 [72] Market Data and Key Metrics Changes - The company experienced a decline in billable consultant base, but at a slower rate compared to previous quarters in 2023 [4] - Q4 order bookings totaled $19 million, marking one of the best performances since acquiring the Data and Analytics Services segment [101] Company Strategy and Development Direction - The company engaged Pimenta, Inc. as a strategic advisory consultant to provide direction for improving business performance and growth [109][94] - Management is optimistic about positioning the business for improved financial performance in 2024, despite the challenges faced in 2023 [85] Management Comments on Operating Environment and Future Outlook - Management noted that macroeconomic headwinds significantly impacted financial performance, with concerns over recession, inflation, and geopolitical events affecting client spending [107] - Positive indicators of increased customer demand were observed in both business segments, with expectations for sequential revenue growth in Q1 2024 [41][108] Other Important Information - The company remains debt-free with $21.1 million in cash and an additional $22.5 million available under its revolving credit facility [105] - Day sales outstanding improved to 53 days from 59 days a year earlier, indicating effective management of accounts receivable [81] Q&A Session Summary Question: Status of share buyback program - Management confirmed commitment to the share buyback program, having bought back approximately 60,000 shares in Q4 2023, and indicated plans for more purchases in Q1 2024 [16][112] Question: Update on Engineering Staffing Services - Management reported a month-on-month increase in headcount for Engineering Staffing Services and emphasized focus on expanding opportunities in this area [28][30] Question: Goals and strategies leading to CEO resignation - Management clarified that misalignment in goals and strategies led to the CEO's resignation, with a focus on scaling the business quickly [24][45] Question: Pricing environment and bill rates - Management noted that while pricing pressures existed, they were able to increase bill rates due to strong client relationships and quality of service [34][62]

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 ...

Mastech Digital, Inc. (NYSE:MHH) Q3 2023 Earnings Call Transcript November 1, 2023 9:00 AM ET Company Participants Jennifer Ford Lacey - Manager of Legal Affairs Jack Cronin - Chief Financial Officer Vivek Gupta - Chief Executive Officer Michael Fleishman - Chief Executive Officer, Data and Analytics Services Conference Call Participants Lisa Thompson - Zacks Investment Research Marc Riddick - Sidoti & Company Operator Greetings, and welcome to the Mastech Digital Q3 2023 Earnings Call. At this time, all pa ...

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 ...

Mastech Digital, Inc. (NYSE:MHH) Q2 2023 Earnings Conference Call August 2, 2023 9:00 AM ET Company Participants Jennifer Ford Lacey - Head of Legal and Admin Jack Cronin - Chief Financial Officer Vivek Gupta - President and Chief Executive Officer Michael Fleishman - Chief Executive Officer, Data and Analytics Services Conference Call Participants Lisa Thompson - Zacks Investment Research, Inc. Timothy Call - The Capital Management Corporation Marc Riddick - Sidoti & Company, LLC Operator Greetings. Welcom ...

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 March 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 incorpor ...