Daily News
View All NewsHudson Global Q3 revenue up 72% in constant currency
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 FT.com. Hudson had a market cap of $42.59 million.