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Toronto, Ontario (Newsfile Corp. - May 26, 2021) - HIRE Technologies Inc. (TSXV: HIRE) ( HIRE or the Company ), a company focused on modernizing and digitizing human resources solutions, announces its financial results for the quarter ended March 31, 2021.
Revenue growth of 89.1% in Q1-2021 versus Q1-2020.
Recurring contract placement revenue growth of 43% in Q1-2021 over Q1-2020.
Gross Margin of 42.4% for Q1-2021, the third consecutive quarter of increased margins.
Net income of $2.2 million, $0.04 per share ($0.03 on a diluted basis).
EBITDA of $2.6 million.
Organic Growth of 7% for this quarter more than double the growth rate achieved by industry peers (1.8%)
HIRE Technologies Inc.: HIRE Technologies Reports Record Quarterly Revenue and Gross Margin for Q1-2021 Including 89% YoY Revenue Growth and 19 Point Gross Margin Improvement
Revenue growth of 89.1% in Q1-2021 versus Q1-2020.
Recurring contract placement revenue growth of 43% in Q1-2021 over Q1-2020.
Gross Margin of 42.4% for Q1-2021, the third consecutive quarter of increased margins.
Net income of $2.2 million, $0.04 per share ($0.03 on a diluted basis).
EBITDA of $2.6 million.
Organic Growth of 7% for this quarter more than double the growth rate achieved by industry peers (1.8%)
1. Our business model, ability to execute, and the strength of our brands across Canada were fully demonstrated in the first quarter of 2021, said Simon Dealy, HIRE s Chief Executive Officer. To date, in 2021, economic growth is evident and signals a significant rise in demand for staffing solutions. Organic growth was very strong, with our subsidiaries reporting a 219% increase in job requests