Revenue Performance - Revenue for Q4 2024 was $33.6 million, a decrease of 1.1% from Q4 2023, or 2.0% in constant currency[5] - For the full year 2024, revenue was $140.1 million, a decrease of 13.2% from 2023, or 13.2% in constant currency[5] - Total revenue for the year ended December 31, 2024, was $140,056 million, a decrease of 13.2% from $161,338 million in 2023[33] - In Q4 2024, total revenue was $33,600 million, slightly down from $33,971 million in Q4 2023[37] - The Americas region reported Q4 2024 revenue of $7.3 million, an increase of 18% compared to Q4 2023[8] - Asia Pacific revenue for Q4 2024 was $20.0 million, a decrease of 10%, while adjusted net revenue increased by 6% to $7.4 million[10] - EMEA revenue for Q4 2024 was $6.3 million, an increase of 7%, with adjusted net revenue rising by 5% to $3.8 million[12] - The Americas region reported a revenue of $27,894 million in 2024, down 10.8% from $31,254 million in 2023[40] - Asia Pacific revenue for 2024 was $86,704 million, a decrease of 16.5% from $103,857 million in 2023[40] Adjusted Net Revenue - Adjusted net revenue for Q4 2024 was $17.6 million, an increase of 6.4% from Q4 2023, or 5.7% in constant currency[5] - Adjusted net revenue for the full year 2024 was $70.2 million, a decrease of 12.6% from 2023, or 12.8% in constant currency[5] - Adjusted net revenue for 2024 was $70,152 million, down 12.6% from $80,267 million in 2023[33] - Adjusted net income for the year ended December 31, 2023, was $2.69 million, translating to a diluted income per share of $0.86[42] Net Loss and Earnings - The net loss for Q4 2024 was $0.6 million, or $0.20 loss per diluted share, compared to a net income of $0.7 million, or $0.23 income per diluted share in Q4 2023[5] - The company reported a net loss of $4,770 million for 2024, compared to a net income of $2,198 million in 2023[33] - For the three months ended December 31, 2024, Hudson Global reported a net loss of $585,000, resulting in a diluted loss per share of $0.20[42] - For the year ended December 31, 2024, the net loss was $4.77 million, with a diluted loss per share of $1.59[42] - The adjusted net loss for the three months ended December 31, 2024, was $147,000, resulting in a diluted loss per share of $0.05[42] Operating Expenses - Total operating expenses for the three months ended December 31, 2024, were $33,725,000, down 4.3% from $35,238,000 in the prior year[24] - SG&A expenses for the year 2024 totaled $72,600 million, a decrease of 6.1% from $77,417 million in 2023[40] - Operating loss for 2024 was $3,809 million, compared to an operating income of $1,383 million in 2023[40] Cash and Assets - Cash and cash equivalents decreased to $17,011,000 as of December 31, 2024, from $22,611,000 a year earlier[27] - Total assets decreased to $52,583,000 as of December 31, 2024, down from $60,958,000 in 2023[27] - Total stockholders' equity decreased to $40,428,000 as of December 31, 2024, down from $48,554,000 in the previous year[27] Tax and Provisions - The company reported a provision for income taxes of $837,000 for the three months ended December 31, 2024, compared to a benefit from income taxes of $(778,000) in the same period of 2023[29] - The company incurred non-recurring severance and professional fees of $2.18 million (after tax) for the year ended December 31, 2024[42] - The company reported a non-recurring severance and professional fees impact of $(617,000) (after tax) for the three months ended December 31, 2023[42] Shares Outstanding - The weighted-average shares outstanding for basic shares was 2,974,000 for the three months ended December 31, 2024, compared to 3,072,000 in the prior year[24] - The total outstanding diluted shares for the three months ended December 31, 2024, were 2,974,000[42] - The total outstanding diluted shares for the year ended December 31, 2023, were 3,140,000[42] Investment and Future Growth - The company invested approximately $3.4 million in sales, marketing, and technology in 2024 to enhance future growth[5] - As of December 31, 2024, the company had $240 million of usable net operating losses (NOL) in the U.S.[18]
Hudson Global(HSON) - 2024 Q4 - Annual Results