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View All NewsHire Technologies revenue jumps in Q2
Second-quarter revenue at Hire Technologies Inc. (TSX: HIRE) rose 145.9%. On an organic basis, growth was 44% year over year, which includes growth at acquired companies during the quarter before the date of acquisition.
Acquisitions at the company added an incremental C$3.5 million in top-line revenue, Hire Technologies reported.
“With a 173% increase in job orders and a 31% increase in placements, our managing directors across the company demonstrated their commitment to meeting client demands despite the ongoing uncertainty with Covid-19,” CEO Simon Dealy said.
| (C$) | Q2 2021 | Q2 2020 | % change | Q2 2021 (US$) | |
| Revenue | $6,385,990 | $2,597,492 | 145.9% | $5,161,732 | |
| Gross profit | $2,455,817 | $548,280 | 347.9% | $1,985,012 | |
| Gross margin percentage | 38.5% | 21.1% | |||
| Net income/loss | ($463,530) | ($1,066,548) | nm | ($374,667) |
Hire Technologies has acquired several firms recently, including The Headhunters in September 2020, The Kavin Group in December 2020, Taylor Ryan in December 2020 and Pulsify in April of this year.
Earlier this month, Hire Technologies announced it acquired executive search firm Leaders and Co.
Share price and market cap
Shares in Hire Technologies were down 3.45% to 28 cents Canadian (22 cents US) as of 11:47 a.m. Eastern time in Toronto. The company had a market cap of C$17.7 million (US$14.0 million).