Strong Liquidity Position
GEE Group reported a strong liquidity position with $18.6 million in cash, an undrawn ABL credit facility with availability of $6.6 million, overall net working capital of $24.1 million, and no outstanding debt.
Gross Margin Improvement
The gross margin for the quarter improved to 35.4% from 34.1% in the prior year period, mainly due to an increased mix of direct hire placement revenues.
Focus on AI Integration
GEE Group is actively integrating AI into recruiting, sales, and operations, aiming to drive efficiencies and cost savings.
Reduction in Operating Expenses
Selling, general, and administrative expenses were reduced by 8% and 9% for the quarter and year-to-date, respectively, compared to the prior year.