Filing Flows › HireQuest (HQI) › Q2 2025
HireQuest (HQI) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
HireQuest (HQI) reported revenue of $7.6M for the second quarter 2025 (Q2 2025), -12% from a year earlier and +2% from the quarter before. Operating margin was 13.7%, net earnings $1.1M (13.9% of revenue).
HireQuest, Q2 2025: revenue $7.6M (-12% year over year), operating margin 13.7%, net earnings $1.1M, operating cash flow $2.6M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.6M | +2% | -12% |
| Operating profit | $1.0M | -30% | -61% |
| Net earnings | $1.1M | -22% | -48% |
| Operating cash flow | $2.6M | +38% | 14× |
| Free cash flow | $2.5M | +39% | 14× |
What changed
Revenue was $7.6M in Q2 2025, down 12% year over year and up 2% from the previous quarter. HireQuest Direct was the largest line at 45% of revenue. HireQuest Direct lost $380K year over year (down 10%), 36% of the total change.
Operating profit was $1.0M, a 13.7% margin (down 17.4 points year over year). Total costs grew 10% against a revenue fall of 12%. The fastest-growing cost line was SG&A (+11%). Net earnings were $1.1M, down 48% year over year. The effective tax rate was 5.0%.
Operating cash flow was $2.6M (up 1260% year over year), 241% of net earnings. Non-cash charges added back $735K of depreciation and amortization and $240K of share-based compensation. Working capital and other items added $522K. Capital expenditures of $9K left free cash flow of $2.5M.
Questions
What was HireQuest's revenue in the second quarter 2025?
HireQuest (HQI) reported revenue of $7.6M for the second quarter 2025 (Q2 2025), -12% from a year earlier and +2% from the quarter before.
Was HireQuest profitable in the second quarter 2025?
Operating profit was $1.0M (13.7% of revenue) and net earnings $1.1M.
Source: HireQuest 10-Q on SEC EDGAR.