Core Insights - Hudson Global, Inc. reported financial results for the second quarter ended June 30, 2025, highlighting a modest increase in adjusted net revenue driven by improved business activity, particularly in the Asia Pacific region [1][3] - The company made strategic hires and completed two acquisitions, enhancing its capabilities and marking its entry into the Japanese market [3][4] - A merger agreement with Star Equity Holdings is expected to create significant value for shareholders through increased size and diversification of revenue streams [4] Financial Performance - For Q2 2025, total revenue was $35.5 million, a decrease of 0.5% from Q2 2024, while adjusted net revenue was $18.6 million, an increase of 5.8% [7][40] - The net loss for Q2 2025 was $0.7 million, or $0.23 per diluted share, compared to a net loss of $0.4 million, or $0.15 per diluted share, in Q2 2024 [7][43] - Adjusted EBITDA for Q2 2025 was $1.3 million, up from $0.7 million in the same period last year [7][34] Regional Highlights - In the Americas, revenue was $7.1 million, a 2% increase, while adjusted net revenue decreased by 1% to $6.3 million [5] - Asia Pacific revenue was $21.6 million, a 3% decrease, but adjusted net revenue increased by 17% to $8.8 million [8] - EMEA revenue increased by 6% to $6.8 million, while adjusted net revenue decreased by 9% to $3.5 million [9] Corporate Strategy - The company invested approximately $1.4 million in sales, marketing, and technology in the first half of 2025 to support future growth [3] - The growth strategy focuses on organic expansion, targeted acquisitions, and cross-regional service integration [3] - The company has a $5 million share repurchase program, with $2.1 million remaining [12] Liquidity and Capital Resources - As of June 30, 2025, the company had $17.5 million in cash, including $0.7 million in restricted cash [11] - Cash flow from operations was $0.1 million in Q2 2025, a significant improvement from an outflow of $4.3 million in Q2 2024 [11] NOL Carryforward - As of December 31, 2024, Hudson Global had $240 million of usable net operating losses (NOL) in the U.S., which the company considers a valuable asset [13]