Consolidated Revenue: $28.3 million for Q4 2024; $116.5 million for fiscal year 2024.
Gross Profit: $9.5 million for Q4 2024; $37.6 million for fiscal year 2024.
Gross Margin: 33.7% for Q4 2024; 32.3% for fiscal year 2024.
Net Loss: $2.3 million or $0.02 per diluted share for Q4 2024; $24.1 million or $0.22 per diluted share for fiscal year 2024.
Adjusted EBITDA: Negative $1 million for Q4 2024; negative $2.3 million for fiscal year 2024.
Contract Staffing Services Revenue: $25 million for Q4 2024; $104.3 million for fiscal year 2024.
Professional Contract Services Revenue: Decreased 18% for Q4 2024; decreased 21% for fiscal year 2024.
Industrial Contract Services Revenue: Decreased 27% for Q4 2024 and fiscal year 2024.
Direct Hire Revenue: $3.4 million for Q4 2024; $12.2 million for fiscal year 2024.
SG&A Expenses: $10.7 million for Q4 2024; $41.5 million for fiscal year 2024.
Cash Position: $20.8 million as of September 30, 2024.
Net Book Value Per Share: $0.77 as of September 30, 2024.
Net Tangible Book Value Per Share: $0.34 as of September 30, 2024.
Release Date: December 20, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
GEE Group Inc (JOB) has a strong balance sheet with substantial liquidity, including $20.8 million in cash and no outstanding debt.
The company is actively pursuing mergers and acquisitions to drive growth, with several potential strategic acquisition targets identified.
GEE Group Inc (JOB) has successfully reduced SG&A costs by an estimated $3 million annually and continues to tightly manage expenses.
The company is migrating its legacy systems to a cloud-based platform to improve efficiency and support future growth.
Management is optimistic about a gradual recovery in the labor market and is preparing for increased demand in 2025.
GEE Group Inc (JOB) reported a net loss of $24.1 million for the fiscal year, significantly down from a net income of $9.4 million the previous year.
Revenues for the fiscal year decreased by 24% compared to the prior year, reflecting challenging economic and labor market conditions.
The company experienced a decline in gross profit and gross margins due to a decrease in job orders and competitive pressures.
Adjusted EBITDA was negative for both the quarter and the fiscal year, indicating ongoing financial challenges.
The staffing industry, particularly in professional and industrial contract services, faced significant downturns, impacting GEE Group Inc (JOB)’s performance.
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