Hudson Global Q3 revenue up 72% in constant currency

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November 05, 2021

Third-quarter revenue at Hudson Global Inc. (NASDAQ: HSON) jumped 71.8% in constant currency. Gross margin also improved at the Old Greenwich, Connecticut-based provider of recruitment process outsourcing.

“I continue to be particularly encouraged by the success and collaboration of our sales teams globally as our new business pipeline remains robust and growing,” said CEO Jeff Eberwein. “Coit Group, our 2020 acquisition, has significantly outperformed our expectations this year and we are very excited to see what Karani, our new 2021 acquisition, will be able to do as part of Hudson RPO.”

(US$ thousands) Q3 2021 Q3 2020 % change % constant currency
Revenue $45,010 $25,413 77.1% 71.8%
Gross margin 40.1% 35.7%    
Net income/loss $1,494 ($1,157) nm  

Americas revenue at Hudson Global rose 280% in constant currency due to organic growth and the acquisition of Coit Group in the fourth quarter of last year.

Revenue by geography

(US$ thousands) Q3 2021 Q3 2020 % change % constant currency
Hudson Americas $7,423 $1,934 283.8% 280%
Hudson Asia Pacific $32,273 $19,877 62.4% 54%
Hudson Europe $5,314 $3,602 47.5% 39%

Share price and market cap

Shares in Hudson were up 13.85% to $20.96 as of 11:57 a.m. Eastern time and reached a new 52-week high today of $20.56, according to Hudson had a market cap of $42.59 million.

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