GEE Group reports FY2024 net loss of $24.1M; revenue down 24% YoY to $116.5M

GEE Group Inc.

Q4 revenues $28.3M (-17% YoY); FY revenues $116.5M (-24% YoY) due to fewer job orders and macro weakness.
FY net loss $24.1M ($0.22 diluted loss) vs prior year net income $9.4M ($0.08); includes non-cash impairment charges.
Adjusted EBITDA for FY was negative $2.3M vs positive $7.0M in FY2023; cash balance $20.8M with zero debt.
Direct hire revenues dropped 37% in FY to $12.2M; contract staffing down 22% to $104.3M.
Gross margin fell to 32.3% from 34.7% in FY2023; SG&A as % of revenue rose to 35.7%.

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