Earnings Releases·Nov 12, 2026, 4:06 PM ET

HireQuest — Third Quarter 2026 Earnings Summary

Q3 2026 total revenue reached $8.8 million (up 4.0% YoY; up 11.1% pro forma), while net income declined to $1.7 million ($0.12/share) from $2.3 million ($0.16/share) in Q3 2025, primarily due to a $1.3 million write-down of notes receivable and increased workers' compensation expenses; Adjusted EBITDA remained flat at $4.5 million.
Year-to-date performance showed net income rising to $5.9 million ($0.43/share) and Adjusted EBITDA increasing to $11.8 million, despite a 0.5% decline in total revenue to $23.4 million, with pro forma YTD revenue growing 7.8%.
The company executed the MRINetwork Assets Divestiture on January 1, 2026, which reduced reported system-wide sales by $15.8 million in Q3 and $49.4 million YTD, though pro forma system-wide sales increased 11.4% in Q3 and 7.1% YTD.
Management highlighted an improving demand environment for 2026 and 2027, maintaining a disciplined capital allocation strategy, and declared a $0.06 quarterly cash dividend subject to board discretion.
Balance sheet strength was maintained with $1.1 million in cash, $38.0 million in working capital, and approximately $40.5 million available under the line of credit as of September 30, 2026.