Star Equity Holdings, Inc. ( (STRR) ) has released its Q1 earnings. Here is a breakdown of the information Star Equity Holdings, Inc. presented to its investors.
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Star Equity Holdings, Inc. is a diversified holding company operating in the Building Solutions, Energy Services, and Investments sectors. The company is known for its modular building manufacturing, downhole tool services, and investment management.
In the first quarter of 2025, Star Equity Holdings reported a significant increase in revenues, driven by strategic acquisitions and improved performance in its Building Solutions division. The company also marked its entry into the Energy Services sector with the acquisition of Alliance Drilling Tools.
Key financial highlights include a 41.7% increase in revenues to $12.9 million and a 99.2% rise in gross profit to $3.1 million compared to the same quarter last year. The net loss narrowed to $1.2 million from $2.2 million, while the Building Solutions backlog reached a record $27.9 million, indicating strong future demand.
Despite the positive revenue growth, the company faced a non-GAAP adjusted net loss of $1.7 million. However, operating cash flow improved significantly, with a $563 thousand inflow compared to a $2.4 million outflow in the previous year, highlighting better operational efficiency.
Looking ahead, Star Equity Holdings remains optimistic about its growth prospects, particularly in the Building Solutions and Energy Services divisions. The company plans to focus on organic growth and potential acquisitions to bolster its market position.
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