HireQuest Q2 Revenue Climbs 6% to $8.1M as Net Income More Than Doubles
HQI sits 84% above its 52-week low of $7.38.
Summary
HireQuest posted Q2 2026 revenue of $8.1 million, a 6% year-over-year increase, and net income of $2.7 million—more than double the prior-year period. Adjusted EBITDA rose to $4.6 million, fueled by cost cuts and recovering demand in temporary staffing.
Key Events · Earnings and Guidance · HQI
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Revenue Growth Resumes
Total revenue reached $8.1 million, up 6% from Q2 2025; pro forma for the MRINetwork divestiture, organic revenue growth was 16.6%.
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Net Income More Than Doubles
Net income of $2.7 million ($0.19 per diluted share) compared to $1.1 million ($0.08) in Q2 2025, driven by higher revenue and a 32% drop in SG&A expenses.
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Adjusted EBITDA Jumps 42%
Adjusted EBITDA of $4.6 million compared to $3.3 million in the prior-year quarter, reflecting improved operating leverage.
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Solid Liquidity Position
Working capital of $35.1 million and $41.0 million available under the line of credit as of June 30, 2026, though cash declined to $1.6 million from $3.9 million at year-end.
Analysis · HQI · Trade & Services
A stabilizing temporary staffing market and sharp cost discipline powered a strong second quarter for HireQuest. Revenue grew 6% to $8.1 million, while net income more than doubled to $2.7 million, or $0.19 per diluted share. SG&A fell 32% from the prior year, underscoring the operational leverage. On a pro forma basis, excluding the MRINetwork divestiture, organic revenue growth accelerated to 16.6%. The balance sheet remains solid with $35.1 million in working capital and $41 million available under the credit line, though cash declined to $1.6 million. Coming after a Q1 revenue decline, this earnings beat signals a recovery in the company's core franchise royalty stream and improved profitability.
At the time of this filing, HQI was trading at $13.57 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $188.6M. The 52-week trading range was $7.38 to $14.54. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.