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Hudson Global Inc. (HSON0.00%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details Hudson's operations as a total talent solutions provider, offering recruitment process outsourcing (RPO) services to mid-to-large multinational companies. The company operates in three geographic segments: Americas, Asia Pacific, and EMEA.
For the year ended December 31, 2024, Hudson reported total revenue of $140.1 million, a decrease from $161.3 million in 2023. The decline was primarily due to reduced demand in the Americas and Asia Pacific regions.
The company's net loss for 2024 was $4.8 million, compared to a net income of $2.2 million in 2023. The decrease in net income was attributed to lower revenue and increased operating expenses.
Hudson's RPO services accounted for $68.0 million of the total revenue, while contracting services contributed $72.1 million. The Asia Pacific region generated the highest revenue among the segments.
The company expanded its service offerings in 2024 to include executive search in North America, focusing on Life Sciences and Human Resources. It also made strategic investments in technology, including automation and AI.
Hudson's management highlighted the challenges posed by global economic fluctuations, including inflation and geopolitical events, which impacted client demand and market conditions.
The filing disclosed that Hudson had cash and cash equivalents of $17.0 million as of December 31, 2024, with no outstanding amounts under its credit facilities.
Hudson's Board of Directors authorized a stock repurchase program, with $2.1 million available for future repurchases as of the end of 2024.
The company identified risks related to potential acquisitions, competition in the talent solutions market, and the need to attract and retain skilled personnel.
Hudson's internal controls over financial reporting were deemed effective as of December 31, 2024, with no material weaknesses identified.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Hudson Global Inc. annual 10-K report dated March 14, 2025. To report an error, please email earnings@qz.com.