Hiremii, an Australia-based staffing platform for temporary and permanent hiring, published its annual reported today for the full year 2022.

Earlier this year the group published an update for its fourth quarter 2022 results.

For FY 20222 revenue stood at AUD 11.4 million (USD 7.9 million), up 64.9% when compared with FY21.

The group added that the integration of the Inverse Group acquisition was completed in FY 2022. Hiremii said there was an immediate impact from the acquisition with 90% growth in revenue in H2 FY22 vs H1 on the back of a strong recruitment performance.

The group said its restructuring was completed by March 2022 which delivered an improved gross profit margin of 10.7%, and a reduced cost base that the group said will deliver cashflow, enhance sustainability and support strong contractor growth.

Managing Director, Andrew Hornby, “Hiremii achieved strong revenue growth in the period, delivering H2 FY22 revenue of AUD 7.6 million (USD 5.3 million), an increase of 96% compared to H1 2022. A restructure of the business was delivered swiftly, resulting in a quick integration and minimal disruption to continued growth, while de-risking the contractor profile by focusing on white collar longer contracts.”

“Several Technology milestones were achieved in the period, with knowledge graph development and integration of the Hiremii platform putting us in a position to launch in FY23. Inverse will continue to underpin investment into technology development throughout the coming year as we bring platform revenue online and respond to customer demand,” Hornby said.

Hiremii shares closed at AUD 0.045 (USD 0.031), down 16.67% on the day and 21.62% above the 52 week low of AUD 0.037 (USD 0.026) set on 13 July 2022. The company has a market cap of AUD 5.72 million (USD 3.98 million).