Mastech Digital, Inc.

Listed Company

MHHCIK 0001437226NYSENon-AcceleratedSmaller ReportingServices-Management Consulting ServicesPennsylvaniaFY ends Dec 31

Period

FY 2025

Revenue

$191.37M

Net Income

$609.0K

Total Assets

$111.84M

Equity

$89.31M

Shares Out

11.86M

Op. Cash Flow

$11.13M

Business

Mastech Digital, Inc. is a provider of Digital Transformation IT services focused on data modernization, analytics and IT staffing. The company offers data and analytics solutions, digital learning, managed services, project-based consulting and temporary and permanent IT staffing, including engineering and ServiceNow practices. Its operations are organized into two reportable segments: Data and Analytics Services and IT Staffing Services, each with distinct sales organizations and delivery models. Mastech Digital serves primarily North American clients, with global delivery and offshore recruiting centers supporting U.S., Canada, U.K., Europe and Asia-Pacific engagements.

Summary from filing dated 2025-03-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	191	199	201	242	222
Cost of revenues	138	143	150	179	163
Gross profit	53	56	51	63	59
Operating expenses	53	52	52	51	45
Impairment of goodwill	0	0	5	0	0
Employment-related claim, net of recoveries	0	0	3	0	0
Total selling, general and administrative expenses	53	52	60	51	—
Income (loss) from operations	1,000	4	−9	12	18
Interest income (expense), net	844,000	606,000	319,000	−358,000	−675,000
Other income (expense), net	217,000	27,000	−75,000	650,000	−49,000
Income (loss) before income taxes	1	4	−9	12	17
Income tax expense (benefit)	453,000	1	−2	4	5
Net income (loss)	609,000	3	−7	9	12
Basic (per share)	0.05	0.29	−0.61	0.75	1.07
Diluted (per share)	0.05	0.28	−0.61	0.72	1.02
Basic (shares)	12	12	12	12	11
Diluted (shares)	12	12	12	12	12

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	37	28	21	7	7
Accounts receivable, net of allowance for credit losses of $275 in 2025 and $311 in 2024	21	24	23	34	34
Unbilled receivables	6	8	7	9	9
Prepaid and other current assets	6	7	6	4	4
Total current assets	69	66	56	53	54
Equipment	4	4	3	3	2
Enterprise software	4	4	4	4	4
Leasehold improvements	738,000	742,000	753,000	732,000	842,000
Total equipment, enterprise software, and leasehold improvements	9	9	8	8	7
Less accumulated depreciation and amortization	−7	−7	−6	−5	−4
Net equipment, enterprise software, and leasehold improvements	2	2	2	3	3
Operating lease right-of-use assets, net	3	4	5	4	5
Deferred income taxes	3	1	793,000	0	—
Deferred financing costs, net	95,000	189,000	284,000	293,000	366,000
Deferred compensation, net	1	0	—	—	—
Non-current deposits	530,000	444,000	457,000	578,000	595,000
Goodwill, net of impairment	27	27	27	33	33
Intangible assets, net of amortization	8	10	13	16	19
Total assets	112	111	105	109	114
Accounts payable	3	5	5	4	5
Accrued payroll and related costs	15	14	12	11	14
Current portion of operating lease liability	1	1	1	2	1
Other accrued liabilities	898,000	550,000	938,000	1	1
Deferred revenue	41,000	329,000	684,000	207,000	544,000
Total current liabilities	21	21	20	20	27
Long-term operating lease liability, less current portion	1	2	4	2	4
Long-term accrued income taxes	0	0	69,000	105,000	125,000
Long-term severance liability	330,000	987,000	0	—	—
Total liabilities	23	24	24	23	40
Commitments and contingent liabilities (Note 8)	—	—	—	—	—
Preferred Stock, no par value; 20,000,000 shares authorized; none outstanding	0	0	—	—	—
Common Stock, par value $.01; 100,000,000 shares authorized and 13,715,016 shares issued as of December 31, 2025 and 13,444,712 shares issued as of December 31, 2024	137,000	135,000	133,000	133,000	131,000
Additional paid-in-capital	43	38	35	32	28
Retained earnings	56	56	52	60	51
Accumulated other comprehensive income (loss)	−3	−2	−2	−2	−607,000
Treasury stock, at cost; 2,022,864 shares as of December 31, 2025 and 1,723,341 as of December 31, 2024	−7	−5	−5	−4	−4
Total shareholders' equity	89	87	81	86	74
Total liabilities and shareholders' equity	112	111	105	109	114

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income (loss)	609,000	3	−7	9	12
Depreciation & Amortization	3	3	4	4	4
Bad debt expense	36,000	−217,000	−30,000	50,000	130,000
Interest amortization of deferred financing costs	94,000	95,000	73,000	73,000	82,000
Stock-based compensation expense	3	2	3	2	2
Deferred income taxes, net	−1	−509,000	−2	655,000	1
Operating lease assets and liabilities, net	45,000	46,000	75,000	−379,000	173,000
Loss on disposition of fixed assets	4,000	24,000	1,000	0	9,000
Amortization of deferred compensation	500,000	987,000	0	—	—
Long-term severance liability	−657,000	0	0	0	—
Payment of deferred compensation	−2	0	0	—	—
Long-term accrued income taxes	0	−69,000	−36,000	−20,000	−40,000
Accounts receivable and unbilled receivables	5	−1	13	1	−11
Prepaid and other current assets	2	−2	−2	95,000	−3
Accounts payable	−1	39,000	186,000	−479,000	2
Accrued payroll and related costs	2	1	1	−3	−429,000
Other accrued liabilities	357,000	−386,000	−248,000	−41,000	202,000
Deferred revenue	−288,000	−355,000	477,000	−337,000	66,000
Net cash flows provided by operating activities	11	7	16	13	5
Recovery of (payments for) non-current deposits	−110,000	0	119,000	17,000	−199,000
Capital expenditures	−376,000	−941,000	−335,000	−835,000	−2
Net cash flows (used in) investing activities	−486,000	−941,000	−216,000	−818,000	−2
(Repayments) on term loan facility	0	0	−1	−12	−4
Proceeds from the issuance of common stock	91,000	223,000	204,000	263,000	301,000
Purchase of treasury stock	−2	−80,000	−618,000	0	0
Payment of deferred financing costs	0	0	−64,000	0	−223,000
Proceeds from the exercise of stock options	1	511,000	0	1	229,000
Net cash flows provided by (used in) financing activities	−1	654,000	−2	−10	−4
Effect of exchange rate changes on cash and cash equivalents	−732,000	−310,000	−94,000	−948,000	−94,000
Net change in cash and cash equivalents	9	7	14	435,000	−1
Cash payments for interest expense	0	0	43,000	324,000	623,000
Cash payments for income taxes	868,000	2	1	2	4

Filings

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