Hudson Global, Inc. (NASDAQ:HSON) Q2 2022 Earnings Conference Call August 11, 2022 10:00 AM ET

Company Representatives

Jeff Eberwein - Chief Executive Officer

Matt Diamond - Chief Financial Officer

Conference Call Participants

Walter Schenker - MAZ Partners

Marc Riddick - Sidoti

Edward Riley - EF Hutton

Operator

Good morning, and welcome to the Hudson Global Conference Call for the Second Quarter of 2022. Our call today will be led by Chief Executive Officer, Jeff Eberwein; and Chief Financial Officer, Matt Diamond.

At this time all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] and please note that this conference is bring recorded.

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 the conference call, references will be made to non-GAAP terms such as constant currency, adjusted EBITDA and adjusted earnings per diluted share. Reconciliations for 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.

And I will now turn the call over to Jeff Eberwein. Please go ahead, sir.

Jeff 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 second quarter 2022 highlights and Matt Diamond, our CFO, will provide some additional information and then give an update on our current business conditions.

For the second quarter of 2022 we reported revenue of $51 million, a 37% in constant net currency. Adjusted net revenue which we used to refer to as gross profit was $27.3 million and increased 91% year-over-year in constant currency. SG&A costs were $21.6 million in the second quarter, up 68% versus the same period a year ago.

We reported adjusted EBITDA of $5.7 million, up $1.7 million from a year ago and we reported net income of $3.1 million, $0.98 per share versus a net loss of $100,000 or $0.04 a share in the same period a year ago. We reported adjusted net income per diluted share of $1.25 in Q2 versus $0.15 a year ago.