Quarterly report [Sections 13 or 15(d)]

Segment Data

v3.25.1
Segment Data
6 Months Ended
Mar. 31, 2025
Segment Data

17. Segment Data

 

The Company provides the following distinctive services: (a) direct hire placement services and (b) temporary professional services staffing in the fields of information technology, accounting, finance and office, engineering, and medical. These services make up the Company’s Professional Staffing Services reporting segment. As disclosed in Note 3, the Company’s Industrial Staffing Services reporting segment has been deemed a discontinued operation and, as such, is excluded from the below table which only reflects continuing operations.

 

Some selling, general and administrative expenses are not fully allocated to the Professional Staffing Services segment. Unallocated corporate expenses primarily include certain executive and administrative salaries and related expenses, corporate legal expenses, share-based compensation expenses, consulting expenses, audit fees, corporate rent and facility costs, board related fees, acquisition, integration and restructuring expenses, and interest expense. For purposes of determining total assets of the Professional Staffing Services reporting segment, all corporate assets such as cash and other assets have been allocated to the Professional Staffing Services reporting segment.

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

March 31,

 

 

March 31,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Professional Staffing Services

 

 

 

 

 

 

 

 

 

 

 

 

Permanent placement revenue

 

$ 3,000

 

 

$ 2,455

 

 

$ 5,511

 

 

$ 5,510

 

Permanent placement services gross margin

 

 

100%

 

 

100%

 

 

100%

 

 

100%

Contract services revenue

 

$ 21,495

 

 

$ 23,134

 

 

$ 43,009

 

 

$ 48,216

 

Contract services gross margin

 

 

24.9%

 

 

25.7%

 

 

25.1%

 

 

25.3%

Loss from operations

 

$ (21,655 )

 

$ (158 )

 

$ (20,962 )

 

$ (129 )

Depreciation and amortization

 

 

275

 

 

 

785

 

 

 

535

 

 

 

1,577

 

Accounts receivable, net

 

 

11,873

 

 

 

13,120

 

 

 

11,873

 

 

 

13,120

 

Intangible assets

 

 

1,047

 

 

 

6,967

 

 

 

1,047

 

 

 

6,967

 

Goodwill

 

 

24,607

 

 

 

60,210

 

 

 

24,607

 

 

 

60,210

 

Total assets

 

 

60,561

 

 

 

114,107

 

 

 

60,561

 

 

 

114,107

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unallocated Expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate administrative expenses

 

$ 1,184

 

 

$ 1,386

 

 

$ 2,304

 

 

$ 2,673

 

Corporate facility expenses

 

 

147

 

 

 

135

 

 

 

268

 

 

 

247

 

Share-based compensation expense

 

 

123

 

 

 

157

 

 

 

241

 

 

 

310

 

Board related expenses

 

 

111

 

 

 

112

 

 

 

218

 

 

 

227

 

Total unallocated expenses

 

$ 1,565

 

 

$ 1,790

 

 

$ 3,031

 

 

$ 3,457

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

$ 24,495

 

 

$ 25,589

 

 

$ 48,520

 

 

$ 53,726

 

Loss from operations

 

 

(23,220 )

 

 

(1,948 )

 

 

(23,993 )

 

 

(3,586 )

Depreciation and amortization

 

 

275

 

 

 

785

 

 

 

535

 

 

 

1,577

 

Accounts receivable, net

 

 

11,873

 

 

 

13,120

 

 

 

11,873

 

 

 

13,120

 

Intangible assets

 

 

1,047

 

 

 

6,967

 

 

 

1,047

 

 

 

6,967

 

Goodwill

 

 

24,607

 

 

 

60,210

 

 

 

24,607

 

 

 

60,210

 

Total assets of continuing operations

 

 

60,561

 

 

 

114,107

 

 

 

60,561

 

 

 

114,107