Filing Flows › HireQuest (HQI) › Q1 2026 › vs Q4 2025
HireQuest (HQI) Q1 2026 vs Q4 2025 (quarter over quarter)
HireQuest's revenue fell $509K (-7%) from $7.0M in Q4 2025 to $6.5M in Q1 2026. The biggest changes: Royalty −$579K (-9%); Service +$70K (+18%). Operating margin 22.6% against 18.7% (+4.0 pts).
HireQuest, Q1 2026: revenue $6.5M (-13% year over year), operating margin 22.6%, net earnings $1.6M, operating cash flow $250K. The chart draws each line against Q4 2025, the increases inside each band.
Margins
| Q1 2026 | Q4 2025 | Change | |
|---|---|---|---|
| Operating margin | 22.6% | 18.7% | +4.0 pts |
| Net margin | 23.9% | 22.8% | +1.1 pts |
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| HireQuest Direct | $3.4M | $3.0M | $458K | +15% |
| Snelling and HireQuest | $2.0M | $2.2M | −$199K | -9% |
| Northbound, MRI, and SearchPath | $376K | $1.2M | −$821K | -69% |
| DriverQuest and TradeCorp | $194K | $224K | −$30K | -13% |
| HireQuest Health | $42K | $29K | $13K | +45% |
| Royalty | $6.1M | $6.6M | −$579K | -9% |
| Service | $462K | $392K | $70K | +18% |
| Revenue | $6.5M | $7.0M | −$509K | -7% |
| Other income, net | $348K | $29K | $319K | 12× |
| Operating profit | $1.5M | $1.3M | $164K | +12% |
| Costs & expenses | $5.0M | $5.7M | −$673K | -12% |
| Pre-tax earnings | $1.8M | $1.3M | $483K | +36% |
| SG&A | $4.3M | $4.5M | −$220K | -5% |
| Other operating costs | $778K | $1.2M | −$453K | -37% |
| Net earnings | $1.6M | $1.6M | −$43K | -3% |
| Income tax | $264K | −$262K | $526K | — |
| Operating cash sources | $2.5M | $2.5M | −$16K | -0.6% |
| Depreciation & amortization | $778K | $787K | −$9K | -1% |
| Share-based compensation | $148K | $112K | $36K | +32% |
| Working capital & other | $2.2M | −$4.1M | $6.3M | — |
| Operating cash flow | $250K | $6.6M | −$6.3M | -96% |
Questions
How much did HireQuest's revenue grow quarter over quarter in Q1 2026?
HireQuest's revenue fell $509K (-7%) from $7.0M in Q4 2025 to $6.5M in Q1 2026.
What drove HireQuest's revenue change in Q1 2026?
Royalty −$579K (-9%); Service +$70K (+18%).