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View All NewsRecruiter.com’s Q2 revenue jumps 62.4%
Recruiter.com Group Inc. (NASDAQ: RCRT), an AI-powered online recruiting platform, reported revenue jumped 62.4% year over year in the second quarter, with growth driven by its Recruiters on Demand business.
“Recruiter.com delivered a strong quarter, growing revenues and margins while reducing operating expenses,” CEO Evan Sohn said. “Strong product market fit and solid hiring demand helped grow revenues by 62% year over year to $7.1 million and achieve 3.5% organic revenue growth sequentially.”
| (US$) | Q2 2022 | Q2 2021 | % change |
| Revenue | $7,112,450 | $4,380,894 | 62.4% |
| Gross profit | $2,928,972 | $1,434,810 | 104.1% |
| Gross profit margin | 41.2% | 32.8% | |
| Net loss/income | ($1,188,760) | $3,528,279 | nm |
“During the quarter, we also focused on delivering operating efficiency, reducing our adjusted EBITDA loss to $397,000, a 70% sequential improvement. We are excited by the growth opportunities ahead of us and expect to cross the break-even mark for positive adjusted EBIDTA before year-end,” Sohn said.
Revenue by segment
| (US$) | Q2 2022 | Q2 2021 | % change |
| Recruiters on Demand | 4,684,062 | 1,796,948 | 160.7% |
| Consulting and staffing services | 940,474 | 2,157,658 | -56.4% |
| Permanent placement fees | 313,325 | 188,196 | 66.5% |
| Software Subscriptions | 808,052 | 175,790 | 359.7% |
| Marketplace Solutions | 366,537 | 62,302 | 488.3% |
Share price and market cap
Shares in Recruiter.com were down 9.15% to $1.29 as of 12:10 p.m. Eastern time, according to FT.com. The company had a market cap of $21.59 million.