HIRE TECHNOLOGIES INC - HIRRF STOCK NEWS

HIRE Technologies Inc. reported $9.1 million in revenue for Q1-2022, marking a 66% increase year-over-year, driven primarily by organic growth. The gross margin improved to 49%, up from 42% in Q1-2021. Adjusted EBITDA reached $1.0 million, compared to $0.1 million in the prior year, despite a net loss of $1.5 million. The positive momentum is attributed to strong hiring demand across industries, with a focus on optimizing operational expenditures. HIRE also appointed LaBarge Weinstein LLP as its virtual general counsel.

HIRE Technologies Inc. (OTCQB: HIRRF) will announce its Q1-2022 financial results on May 30, 2022, after market close. A subsequent conference call is scheduled for May 31, 2022, at 12:00 PM Eastern Time, hosted by CEO Simon Dealy and CFO Dan Teguh. The company focuses on modernizing human resources with technology-driven solutions and a strong recurring revenue base, aiming to provide value for its partners and shareholders.

HIRE Technologies reported record revenue of $27.7 million for 2021, achieving a 143% increase year-over-year. The fourth quarter also saw record revenue of $8.1 million, marking five consecutive quarters of growth. Despite a gross margin boost to 44%, adjusted EBITDA was $0.1 million for the year. The company faced an unadjusted EBITDA loss of $3.7 million and a net loss of $5.4 million. HIRE anticipates continued growth in the high-margin segments amidst challenges in recurring contracts. Leadership changes were also announced.

HIRE Technologies Inc. (OTCQB: HIRRF) will release its audited financial statements for the fourth quarter and fiscal year-end 2021 on May 2, 2022, after market close. A conference call led by CEO Simon Dealy and CFO Dan Teguh will be held on May 3, 2022, at 12:00 PM ET. HIRE is focused on modernizing human resources solutions and boasts a significant recurring revenue base, leveraging technology to consolidate the staffing marketplace. For more details, visit hire.company.

HIRE Technologies (OTCQB: HIRRF) reflects on 2021's strong M&A activity, where North American deals surged by 62% year-over-year. The staffing sector saw a 29% appreciation among peers, outperforming major indices. HIRE's EBITDA multiples increased due to robust labor market demand. The company emphasizes its seller-optimized transaction model, providing tax-efficient solutions for staffing firms. With a unique position as the only Canadian publicly listed staffing consolidator, HIRE is keen on collaborating with new partners, leveraging significant buyer interest and favorable tax exemptions.

HIRE Technologies Inc. (OTCQB: HIRRF) will present at the Technology Virtual Investor Conference on April 7, 2022, at 2:30 PM Eastern Time. CEO Simon Dealy will lead the presentation, inviting both individual and institutional investors, advisors, and analysts to participate. The event will feature real-time Q&A and will be archived for those unable to attend live. HIRE is dedicated to modernizing HR solutions and offers a technology-first approach to staffing management, ensuring value for its partners and shareholders.

HIRE Technologies (OTCQB: HIRRF) will participate in the CEM AlphaNorth Capital Event in Nassau, Bahamas from March 25-27, 2022. CEO Simon Dealy will engage in one-on-one meetings with investors, highlighting HIRE's strong position in the modernizing recruitment market. Dealy noted that the firm benefits from recurring revenue, organic growth, and acquisition opportunities.

The event focuses on growth-stage companies and provides a platform for networking with top-tier investors.

HIRE Technologies (OTCQB: HIRRF) reports significant growth in the executive recruitment sector, with a 28% increase in permanent placement job orders year-over-year. The company anticipates continued demand due to a talent shortage, marked by 870,000 vacant jobs in Canada. HIRE recently partnered with Plaza Capital for investor relations, granting 350,000 stock options at an exercise price of $0.18. The CEO predicts sustained growth driven by high fundraising activity in private equity. Financial results for the year ended December 31, 2021, will be released next month.

HIRE Technologies has announced that its shares listed under the ticker HIRRF are now eligible for electronic clearing and settlement through the Depository Trust Company (DTC) in the U.S. This DTC eligibility will facilitate easier and cost-effective trading for U.S. investors, enhancing the liquidity and execution speed of transactions. CEO Simon Dealy emphasized that this marks a significant step in HIRE's efforts to increase its profile and outreach to investors in the U.S.