Filing Flows › HireQuest (HQI) › Q4 2024
HireQuest (HQI) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Mar 27, 2025
HireQuest (HQI) reported revenue of $8.1M for the fourth quarter 2024 (Q4 2024), -17% from a year earlier and -14% from the quarter before. Operating margin was 28.0%, net earnings $2.2M (27.5% of revenue).
HireQuest, Q4 2024: revenue $8.1M (-17% year over year), operating margin 28.0%, net earnings $2.2M, operating cash flow $8.7M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.1M | -14% | -17% |
| Operating profit | $2.3M | — | -7% |
| Net earnings | $2.2M | — | 148× |
| Operating cash flow | $8.7M | +108% | -2% |
| Free cash flow | $8.6M | +106% | -3% |
What changed
Revenue was $8.1M in Q4 2024, down 17% year over year and down 14% from the previous quarter. HireQuest Direct was the largest line at 41% of revenue.
Operating profit was $2.3M, a 28.0% margin (up 3.0 points year over year). Total costs fell 21% while revenue fell 17%. Net earnings were $2.2M, up 14707% year over year. The effective tax rate was 2.2%.
Operating cash flow was $8.7M (down 2% year over year), 390% of net earnings. Non-cash charges added back $697K of depreciation and amortization and $510K of share-based compensation. Working capital and other items added $5.2M. Capital expenditures of $68K left free cash flow of $8.6M.
Questions
What was HireQuest's revenue in the fourth quarter 2024?
HireQuest (HQI) reported revenue of $8.1M for the fourth quarter 2024 (Q4 2024), -17% from a year earlier and -14% from the quarter before.
Was HireQuest profitable in the fourth quarter 2024?
Operating profit was $2.3M (28.0% of revenue) and net earnings $2.2M.
Source: HireQuest 10-K on SEC EDGAR.