Filing Flows › HireQuest (HQI) › Q1 2025
HireQuest (HQI) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
HireQuest (HQI) reported revenue of $7.5M for the first quarter 2025 (Q1 2025), -11% from a year earlier and -8% from the quarter before. Operating margin was 19.8%, net earnings $1.4M (18.2% of revenue).
HireQuest, Q1 2025: revenue $7.5M (-11% year over year), operating margin 19.8%, net earnings $1.4M, operating cash flow $1.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.5M | -8% | -11% |
| Operating profit | $1.5M | -35% | -29% |
| Net earnings | $1.4M | -39% | -16% |
| Operating cash flow | $1.9M | -79% | — |
| Free cash flow | $1.8M | -79% | — |
What changed
Revenue was $7.5M in Q1 2025, down 11% year over year and down 8% from the previous quarter. HireQuest Direct was the largest line at 48% of revenue. Northbound, MRI, and SearchPath lost $491K year over year (down 30%), 52% of the total change.
Operating profit was $1.5M, a 19.8% margin (down 5.1 points year over year). Total costs fell 5% while revenue fell 11%. Net earnings were $1.4M, down 16% year over year. The effective tax rate was 11.0%.
Operating cash flow was $1.9M, 136% of net earnings. Non-cash charges added back $734K of depreciation and amortization and $239K of share-based compensation. Working capital and other items used $482K. Capital expenditures of $22K left free cash flow of $1.8M.
Questions
What was HireQuest's revenue in the first quarter 2025?
HireQuest (HQI) reported revenue of $7.5M for the first quarter 2025 (Q1 2025), -11% from a year earlier and -8% from the quarter before.
Was HireQuest profitable in the first quarter 2025?
Operating profit was $1.5M (19.8% of revenue) and net earnings $1.4M.
Source: HireQuest 10-Q on SEC EDGAR.