HireQuest, Inc.

Listed Company

HQICIK 0001140102NasdaqNon-AcceleratedSmaller ReportingServices-Help Supply ServicesFY ends Dec 31

Period

FY 2025

Revenue

$30.64M

Net Income

$6.33M

Total Assets

$88.23M

Equity

$68.32M

Shares Out

14.00M

Op. Cash Flow

$12.05M

Business

HireQuest, Inc. is a franchisor and operator of staffing and recruitment services that connects employers with temporary, contract, and permanent talent. It offers direct-dispatch and commercial staffing for light industrial and blue-collar roles, permanent and executive placement, payrolling and employer-of-record services, proprietary workforce management software, training, and franchise support. Its operating structure includes multiple branded segments such as HireQuest Direct, Snelling, DriverQuest, HireQuest Health, Northbound Executive Search, MRI, TradeCorp and Sales Consultants, along with franchised and company-owned offices. The company distributes services primarily through a network of franchisee-owned offices, trademark licensing, and select corporate-owned locations across the United States, the District of Columbia, and several international markets.

Summary from filing dated 2025-03-27

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
Revenue	31	35	38	31	23
Selling, general and administrative expenses	21	21	24	13	13
Goodwill and Intangible Asset Impairment	674,000	6	0	—	—
Depreciation and amortization	3	3	3	2	2
Income from operations	6	4	11	16	8
Other miscellaneous income	223,000	145,000	−2	−2	5
Interest income	511,000	556,000	263,000	247,000	413,000
Interest and other financing expense	−307,000	−923,000	−1	−368,000	−157,000
Net income before income taxes and discontinued operations	7	4	8	14	12
Provision for income taxes	100,000	221,000	1	2	635,000
Net income from continuing operations	7	4	6	—	—
Loss from discontinued operations, net of tax	−279,000	−253,000	−300,000	—	—
Net income	6	4	6	12	12
Continuing operations (in dollars per share)	0.47	0.29	0.47	0.87	0.88
Discontinued operations (in dollars per share)	−0.02	−0.02	−0.02	0.04	0
Total (in dollars per share)	0.45	0.27	0.45	0.91	0.88
Continuing operations (in dollars per share)	0.47	0.28	0.47	0.87	0.87
Discontinued operations (in dollars per share)	−0.02	−0.02	−0.02	0.04	0
Total (in dollars per share)	0.45	0.26	0.45	0.91	0.87
Basic (in shares)	14	14	14	14	13
Diluted (in shares)	14	14	14	14	14

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	4	2	1	3	1
Accounts receivable, net of allowance of $288 thousand and $275 thousand, respectively	39	42	44	46	38
Notes receivable	1	1	2	817,000	1
Prepaid expenses, deposits, and other assets	3	2	3	2	659,000
Prepaid workers' compensation	848,000	1	646,000	503,000	369,000
Total current assets	48	49	51	52	42
Property and equipment, net	4	4	4	4	4
Workers compensation claim payment deposit	1	1	1	1	948,000
Franchise agreements, net	17	20	21	23	19
Other intangible assets, net	7	8	10	11	6
Goodwill	2	2	6	6	0
Deferred tax asset	2	2	325,000	0	0
Other assets	279,000	57,000	102,000	325,000	334,000
Notes receivable, net of current portion and allowance of $1.2 million and $773 thousand, respectively	6	7	8	3	3
Intangible assets held for sale	1	891,000	891,000	3	2
Total assets	88	94	104	103	77
Accounts payable	192,000	174,000	137,000	448,000	1
Line of credit	0	7	14	13	171,000
Term loans payable	0	88,000	514,000	704,000	210,000
Other current liabilities	2	2	2	3	3
Accrued wages, benefits and payroll taxes	2	3	4	6	4
Due to franchisee	7	8	10	10	7
Risk management incentive program liability	1	1	565,000	877,000	2
Workers' compensation claims liability	3	4	4	3	4
Total current liabilities	15	24	36	37	21
Workers' compensation claims liability, net of current portion	2	3	3	3	4
Franchisee deposits	2	2	2	2	2
Total liabilities	20	29	41	45	31
Commitments and contingencies (Note 12)	—	—	—	—	—
Preferred stock - $0.001 par value, 1,000,000 shares authorized; none issued	0	0	0	0	0
Common stock - $0.001 par value, 30,000,000 shares authorized; 14,079,692 and 14,072,804 shares issued, respectively	14,000	14,000	14,000	14,000	14,000
Additional paid-in capital	37	36	35	33	30
Treasury stock, at cost - 48,849 shares and 43,849 shares, respectively	−146,000	−146,000	−146,000	−146,000	−146,000
Retained earnings	31	29	28	26	16
Total stockholders' equity	68	65	63	58	47
Total liabilities and stockholders' equity	88	94	104	103	77

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
Depreciation and amortization	3	3	3	2	2
Non-cash interest and loss on debt extinguishment	22,000	18,000	354,000	—	—
Provision for credit losses	596,000	424,000	540,000	350,000	—
Stock based compensation	936,000	2	2	2	2
Deferred taxes	173,000	−2	−349,000	−412,000	−2
(Loss) gain on disposition of intangible assets and property, plant, and equipment	−103,000	7,000	2	—	—
Accounts receivable	3	2	1	−974,000	−3
Prepaid expenses, deposits, and other assets	−833,000	897,000	−1	−9,000	−119,000
Prepaid workers' compensation	246,000	−448,000	−143,000	−134,000	1
Accounts payable	18,000	28,000	−311,000	−2	349,000
Risk management incentive program liability	−15,000	686,000	−312,000	−755,000	773,000
Other current liabilities	168,000	−331,000	−1	230,000	−206,000
Accrued wages, benefits and payroll taxes	−757,000	−2	−1	1	844,000
Due to franchisees	−574,000	−2	35,000	2	4
Workers compensation claim payment deposit	1,000	342,000	−238,000	−284,000	7
Workers' compensation claims liability	−1	−331,000	712,000	−2	−1
Net cash provided by operating activities - continuing operations	12	12	11	16	18
Net cash used in operating activities - discontinued operations	−31,000	−253,000	−18,000	868,000	−391,000
Net cash provided by operating activities	12	12	11	17	17
Cash paid in business combinations and asset acquisitions	0	−2	−10	−32	−34
Purchase of property and equipment	−56,000	−68,000	−98,000	−100,000	−1
Proceeds from the sale of branches	0	717,000	2	9	997,000
Proceeds from payments on notes receivable	1	2	919,000	799,000	669,000
Cash issued for notes receivable	−537,000	−13,000	−198,000	−125,000	−855,000
Purchase of deferred compensation plan investments	−248,000	0	—	—	—
Investment in intangible assets	0	−441,000	−390,000	−1	−573,000
Net change in franchisee deposits	−80,000	−79,000	160,000	267,000	193,000
Net cash provided by investing activities	296,000	44,000	−7	−24	−29
Payment on term loan payable	−88,000	−557,000	−3	−571,000	−88,000
Net payments on revolving line of credit	−7	−7	2	—	—
Repurchase of common stock	−377,000	0	—	—	0
Net cash used in financing activities	−11	−11	−5	8	−347,000
Net increase in cash	2	877,000	−2	2	−12
Notes receivable issued for the sale of branches	950,000	100,000	7	350,000	1
Amounts payable assumed related to the purchase of an acquisition	0	10,000	0	2	0
Interest paid	281,000	957,000	1	273,000	110,000
Income taxes paid	795,000	1	—	—	—

Filings

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