---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-013924"
form_type: "8-K"
ticker: "HQI"
cik: "0001140102"
company_name: "HireQuest, Inc."
filed_at: "2023-05-11T23:59:59+00:00"
generated_at: "2026-06-15T03:34:38.421348+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# HireQuest Q1 2023 revenue up 40% to $9.9M; net income from continuing ops up 372% to $2.3M

## Summary
- Franchise royalties increased 41.8% YoY to $9.3M; system-wide sales up 52% to $153.5M.
- Net income from continuing ops $2.3M ($0.17 diluted EPS) vs $0.5M ($0.04) prior year, up 372%.
- Adjusted EBITDA $4.6M, down from $5.3M due to $1.6M increase in SG&A from MRI acquisition.
- Quarterly cash dividend maintained at $0.06 per share; intends to continue quarterly dividends.
- Total assets $110.6M, cash $8.2M; $19.1M available under line of credit.

## SEC filing metadata
- accession: 0001437749-23-013924
- form_type: 8-K
- ticker: HQI
- cik: 0001140102
- company_name: HireQuest, Inc.
- filed_at: 2023-05-11T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1140102/000143774923013924/0001437749-23-013924-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1140102/000143774923013924/hqi20230511_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-013924
- JSON: https://secwatch.observer/filing/0001437749-23-013924.json
- Plain text: https://secwatch.observer/filing/0001437749-23-013924.txt

## Key facts
- Earnings Releases
  HireQuest, Inc. reported the first quarter ended March 31, 2023 results: revenue $9.9 million, net income $2.3 million, EPS $0.17 per diluted share.
  - Period: the first quarter ended March 31, 2023
  - Revenue: $9.9 million
  - Net income: $2.3 million
  - EPS: $0.17 per diluted share
  - Result: reported results
  source text: 31, 2023. First Quarter 2023 Summary ● Franchise royalties increased 41.8% to $9.3 million compared to $6.6 million in the prior year period. ● Total revenue increased 40.0% to $9.9 million compared to $7.0 million in the prior year period. ● Income from operations decreased 14.7% to $3.3 million compared to $3.9 million in the prior year period. ● SG&A increased
  evidence_url: https://www.sec.gov/Archives/edgar/data/1140102/000143774923013924/0001437749-23-013924-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.