Hudson Global, Inc. (NASDAQ:HSON) Q3 2022 Earnings Conference Call November 10, 2022 10:00 AM ET
Company Participants
Jeffrey Eberwein - CEO
Matthew Diamond - CFO
Conference Call Participants
Edward Reilly - EF Hutton
Marc Riddick - Sidoti & Company
Walter Schenker - MAZ Partners
Operator
Good morning, and welcome to the Hudson Global Conference Call for the Third Quarter of 2022. Our call today will be led by Chief Executive Officer Jeff Eberwein and Chief Financial Officer Matt Diamond. Please be advised that the statements made during the presentation include forward-looking statements under applicable securities laws. Such forward-looking statements involve certain risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. These risks are discussed in our Form 8-K filed today and in our other filings made with the Securities and Exchange Commission, including our annual report on Form 10-K. The company disclaims any obligation to update any forward-looking statements.
During the course of this conference call, references will be made to non-GAAP terms such as constant currency, adjusted EBITDA and adjusted earnings per diluted share. Reconciliations of these measures are included in our earnings release and quarterly slides, both posted on our website, hudsonrpo.com. I encourage you to access our earnings materials at this time as they will serve as a helpful reference guide during our call.
I will now turn this call over to Jeff Eberwein.
Jeffrey Eberwein
Thank you, operator, and welcome, everyone. We thank you for your interest in Hudson Global and for joining us today. I'll start by reviewing the third quarter 2022 highlights, and Matt Diamond, our CFO, will provide some additional details on our financial results. I will then give an update on current business conditions.
For the third quarter of 2022, we reported revenue of $49 million, up 16% year-over-year in constant currency. Adjusted net revenue was $24.2 million and increased 42% year-over-year in constant currency. SG&A costs were $21.2 million in the third quarter, up 49% versus the same period last year in constant currency. We reported adjusted EBITDA of $3 million, up 8% in constant currency versus a year ago. In addition, we reported net income of $1 million or $0.30 a share versus net income of $1.5 million or $0.49 per share in the same period last year. Also, we reported adjusted net income per diluted share of $0.58 in the third quarter versus $0.78 a year ago.