other material
confidence high
sentiment positive
materiality 0.50
Hudson Global updates investor deck: two Middle East acquisitions in Q1/Q2 2024, $302M NOL, buyback details
Star Equity Holdings, Inc.
- Acquired Executive Solutions (UAE) in March 2024 and Striver (Middle East exec search) in April 2024.
- Cash $21.0M, debt $0, $302M usable NOL carryforwards as of Mar 31, 2024.
- Initiated $5M stock buyback program on 8/8/23; repurchased 65,207 shares in Q1 2024.
- Board/management own ~18% of shares; shares outstanding reduced ~11% since 12/31/18.
- Long-term goal: RPO Adj EBITDA margin of 25% of Adj Net Revenue; corporate margin mid-teens.