Hudson Global, Inc.

Good morning and welcome to the Hudson Global Conference Call for the second quarter of 2025. Our call today will be led by Chief Executive Officer Jeff Eberwein, Chief Financial Officer Matt Diamond, and Global CEO of Hudson RPO Jake Zapkowitz. Please be advised that the statements made during the presentation include forward-looking statements under applicable securities laws. Such forward-looking statements involve certain risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. These risks are discussed in our Form 8K filed earlier today and in our other filings made with the Securities and Exchange Commission, including our quarterly report on Form 10Q. The company disclaims any obligation to update any forward-looking statements. During the course of this conference call, references will be made to non-GAAP terms, such as constant currency, adjusted EBITDA, and adjusted earnings per diluted share. Reconciliations for these measures are included in our earnings release and quarterly slides, both posted on our website HudsonRPO.com. I encourage you to access our earnings materials at this time, as they will serve as a helpful reference guide during our call. Please note this conference is being recorded. I will now turn the call over to Jeff Eberwein. Go ahead, please.

Thank you, Operator, and welcome everyone. We thank you for your interest in Hudson Global and for joining us today. I'll start by reviewing our second quarter 2025 results, then Matt Diamond, our CFO, will provide some additional details on our financials. Lastly, Jake Zabkiewicz, Global CEO of our RPO business, will provide an update on that business. For the second quarter of 2025, we reported revenue of $35.5 million, down slightly -over-year in constant currency, while adjusted net revenue of $18.6 million, increased by .1% -over-year in constant currency. Our adjusted EBITDA for the second quarter was $1.3 million, improving from adjusted EBITDA of $0.7 million a year ago. In addition, we reported a net loss of $0.7 million or $0.23 per diluted share versus a net loss of $0.4 million or $0.15 per diluted share in the same period last year. On an adjusted basis, Q2 2025 adjusted net income per share was $0.12 compared to net income of $0.04 in the second quarter of last year. Importantly, Q2 2025 marks the third consecutive quarter of -over-year growth in adjusted net revenue and adjusted EBITDA, which makes us believe that business has turned the corner. Growth was stronger in Q2 than this year's first quarter, and we expect this trend to continue through the end of the year and into 2026. While the macro environment for talent remains mixed, we see plenty of opportunities ahead and we continue to make investments in our business to better support our clients' needs and streamline operations. Altogether, in the first half of 2025, we invested approximately $1.4 million in sales, marketing, and technology above maintenance levels to enhance future growth. Our growth strategy remains focused on organic expansion, targeted bolt-on acquisitions, and cross-regional service integration initiatives designed to broaden our client base, extend our geographic footprint, and unlock additional value for our clients. Now I'll turn the call over to Matt Diamond to review our financial results by region, as well as some additional financial details from the second quarter.

Thank you, Jeff, and good morning, everyone. Q2 2025 revenue for our Americas business increased 2%, and adjusted net revenue decreased 1% -over-year in constant currency. We reported Q2 2025 adjusted EBITDA of 0.7 million compared to last year's adjusted EBITDA of 0.6 million. Q2 2025 revenue for our Asia Pacific business decreased 3%, while adjusted net revenue increased 17% -over-year in constant currency. This is largely due to a shift in revenue mix, with temporary contracting work comprising a lower share of revenue in the quarter. In Q2 2025, we reported adjusted EBITDA of 1.9 million, up from adjusted EBITDA of 0.8 million a year ago. Q2 2025 revenue for our AMIA business increased 6% versus the prior year in constant currency, while adjusted net revenue decreased 9%. Our Q2 2025 adjusted EBITDA loss was 0.4 million compared to adjusted EBITDA of 0.3 million in the second quarter of 2024. Turning to some additional financial details for the quarter. Overall, day sales outstanding was 56 days at June 30, 2025, unchanged versus DSO at March 31, 2025. The company had an inflow of 0.1 million in cash flow from operations during the second quarter of 2025, compared to 4.3 million of an outflow from operations in the second quarter of 2024. We ended the second quarter with 17.5 million in cash, including 0.7 million of restricted cash. In connection with our acquisition activity in recent years, our balance sheet as of June 30, 2025 reflects 5.8 million of goodwill and 2.0 million of net amortizable and tangible assets. The company's working capital, excluding cash, was 12.2 million, slightly above year-end 2024. I'll now turn the call over to Jake to discuss our RPO business.