HireQuest, Inc. (HQI) FY2024 10-K Annual Report
HireQuest, Inc. (HQI) 10-K annual report for fiscal year 2024, filed with SEC EDGAR on Mar 27, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
HireQuest, Inc. FY2024 10-K Analysis
Business Overview
- • Core business model: Nationwide franchisor of temporary staffing and permanent placement services across light industrial, blue-collar, and executive recruitment segments
- • New emphasis: Expansion into executive search and permanent placement with 2022 MRI Network acquisition adding 210 franchises and $50M temporary/contract billings
Management Discussion & Analysis
- • Revenue $34.6M in 2024, down 8.7% YoY from $37.9M in 2023; system-wide sales declined 6.9% to $563.6M from $605.1M
- • Operating margin 12.6% vs 28.1% YoY; income from operations fell to $4.4M from $10.6M including $6.0M goodwill/intangible impairment charge
Risk Factors
- • Regulatory risk Patient Protection and Affordable Care Act compliance and insurance availability uncertainty impacting worker health coverage costs
- • Geopolitical threat Russian invasion of Ukraine and Middle East conflicts pressure inflation and supply chains, affecting industrial/manufacturing and construction labor demand
HireQuest, Inc. FY2024 Key Financial MetricsXBRL
Revenue
$35M
▼ -8.7% YoY
Net Income
$4M
▼ -40.1% YoY
Operating Margin
12.6%
▼ -1546bp YoY
Net Margin
10.6%
▼ -558bp YoY
ROE
5.7%
▼ -411bp YoY
Total Assets
$94M
▼ -9.5% YoY
EPS (Diluted)
$0.26
▼ -42.2% YoY
Operating Cash Flow
$12M
▲ +13.4% YoY
Source: XBRL data from HireQuest, Inc. FY2024 10-K filing on SEC EDGAR. All figures in USD.
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