HireQuest, Inc. ( (HQI) ) has released its Q2 earnings. Here is a breakdown of the information HireQuest, Inc. presented to its investors.
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HireQuest, Inc. is a national franchisor specializing in on-demand staffing and executive search services, operating across various industries including construction, healthcare, and finance. The company recently released its financial results for the second quarter of 2025, highlighting its ability to maintain profitability despite ongoing challenges in the staffing market.
The second quarter of 2025 saw HireQuest report a total revenue of $7.6 million, a 12% decline from the previous year. Franchise royalties decreased to $7.3 million, and service revenue fell to $354,000. Net income was reported at $1.1 million, down from $2.0 million in the same quarter last year. Adjusted EBITDA also saw a decrease, coming in at $3.3 million compared to $4.0 million in the previous year.
Year-to-date results for 2025 mirrored the quarterly trends, with total revenue down by 11.6% to $15.1 million. The company reported a net income of $2.4 million for the first half of the year, a decrease from $3.7 million in the same period of 2024. Despite these declines, HireQuest managed to reduce its interest expenses significantly and maintained a stable balance sheet with total assets slightly increasing to $94.3 million.
Looking forward, HireQuest remains focused on executing its business model, controlling expenses, and exploring mergers and acquisitions to expand its market reach. The company continues to leverage its unique franchise model to position itself for future growth when market conditions improve.