Recruiter.com Group Inc - RCRT STOCK NEWS

Recruiter.com Group, Inc. (NASDAQ:RCRT, RCRTW) reported the findings from its Recruiter Index® for May 2022.

Recruiter sentiment remained stable, scoring 3.5/5, while the roles being filled surged from 17 to 22. Hybrid and in-person roles accounted for 78% of recruiter placements, with remote roles dropping by 52% since January. Candidates prioritized compensation (67%), signaling a tight labor market. The demand for recruiters increased by 36% since April, with IT and software engineering roles leading the hiring sectors.

Recruiter.com Group (NASDAQ:RCRT, RCRTW) announced advancements to its AI recruiting software aimed at expediting the hiring process and enhancing candidate tracking. Enhanced features include improved search capabilities for job candidates, faster email outreach, and a new candidate tracker dashboard. Xuan Smith, CTO, emphasized the platform's ability to meet hiring needs for diverse organizations, from large corporations to startups. This update is expected to streamline employer candidate management and avoid traditional recruiting fees, thus positioning Recruiter.com as a key player in today's job market.

Recruiter.com Group, Inc. (NASDAQ:RCRT, RCRTW) announced on May 16, 2022, its engagement with Bowen, Inc. as a financial advisor through an 8-K filing. Bowen, a growth technology-focused investment bank, will provide strategic advisory services to support Recruiter.com's growth initiatives and evaluate options for a potential sale or spin-off of its business. The company has not committed to any specific transaction and will only disclose information once evaluations are complete.

Recruiter.com Group, Inc. (NASDAQ:RCRT, RCRTW) reported a 117% revenue increase for Q1 2022, totaling $6.9 million. This growth was driven by a 339% surge in Recruiters-on-Demand services, now representing 61% of total revenue. Gross profit rose 200% to $2.7 million, enhancing gross margins to 39.2%. The company anticipates reaching EBITDA breakeven by Q4 2022, bolstered by a new $3 million factoring agreement for non-dilutive funding. Operating expenses surged to $6.8 million, resulting in a net loss of $4.2 million.

Recruiter.com Group, Inc. (RCRT, RCRTW) has announced a partnership with Oyster, a global employment platform, aimed at enhancing hiring efficiency and accessibility for both companies and candidates worldwide. This collaboration allows Recruiter.com clients to hire their first employee through Oyster at no cost for 12 months, with a 10% discount on additional hires. This move responds to the growing trend of remote work, thereby expanding job opportunities for over 150 million candidates globally. The partnership aims to streamline global hiring processes during a dynamic job market.

Recruiter.com Group, Inc. (NASDAQ:RCRT, RCRTW) will host an earnings conference call on May 16, 2022, at 4:30 PM EST to discuss its first quarter 2022 financial results. The full financial details will be available on the company's investor relations website before the call. This call aims to provide insights into the company's current operations and financial performance, highlighting its position in the recruiting solutions market. Investors can register for the call online and access it via phone.

Recruiter.com Group, Inc. (NASDAQ:RCRT, RCRTW) announced a $3 million factoring agreement with Bay View Funding, enhancing liquidity by accessing 85% of its gross eligible receivables. As of December 31, 2021, Recruiter.com held $5.65 million in accounts receivable. This non-dilutive financing supports the company's growth initiatives. Additionally, Recruiter.com appointed Said Bakiev, CPA, as the new Vice President of Finance, bringing over 20 years of financial leadership experience. These moves are intended to bolster financial processes and align with strategic growth goals.

Recruiter.com has launched a new cryptocurrency career community platform aimed at addressing the increasing demand for crypto-related talent in the job market. With a substantial growth in job postings, up 395% from 2020 to 2021, the platform features hundreds of roles in various sectors, including technical and non-technical jobs. Enhanced by proprietary recruitment technology, Recruiter.com aims to create a unique channel for matching employers with crypto talent. This move underscores the significance of blockchain technology in future hiring.

Recruiter.com Group, Inc. (NASDAQ:RCRT, RCRTW) has partnered with Deel, joining their exclusive Talent Marketplace. This partnership, announced on April 6, 2022, enables Recruiter.com to facilitate the hiring and payment of international employees for Deel's clients, enhancing the recruitment process by simplifying payroll and compliance aspects.

Recruiter.com aims to provide top talent access globally while leveraging Deel's resources. This collaboration follows their initial partnership established in December 2021, reinforcing their commitment to streamlining talent acquisition.