GEE Group ( (JOB) ) has released its Q1 earnings. Here is a breakdown of the information GEE Group presented to its investors.
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GEE Group Inc. is a staffing and placement services provider specializing in both permanent and temporary professional and industrial sectors, operating across several major U.S. cities.
In the latest earnings report for the quarter ending December 31, 2024, GEE Group registered net revenues of $26.0 million, a decrease from $30.6 million in the same quarter the previous year. The company reported a net loss of $692,000 compared to a loss of $1.6 million in the previous year, showing some improvement despite the revenue decline.
A notable decrease was seen in contract staffing services, which fell from $27.6 million to $23.5 million. The company’s gross profit also decreased to $8.3 million from $9.7 million, alongside reduced selling, general, and administrative expenses. However, the company managed to lower its loss from operations, from $1.7 million to $781,000.
Despite the reported losses, GEE Group’s management remains focused on strategic acquisitions and operational efficiencies to improve future profitability. The acquisition of Hornet Staffing, Inc. in January 2025 is expected to enhance its competitive position in the staffing market.
Looking ahead, GEE Group remains cautiously optimistic, with management focusing on expanding market share and improving financial results through strategic growth initiatives.