HireQuest Inc 2025年季度报告

FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 HIREQUEST,INC. (Exact name of registrant as specified in its Charter) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that Indicate by check mark whether the Registrant is a large accelerated filer☐, an accelerated filer☐, anon-accelerated filer☒, asmaller reporting company☒, or an emerging growth company☐(as defined in Rule 12b-2 of the Exchange Act). If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ HireQuest, Inc.Table of Contents PART I. FINANCIAL INFORMATION PART II. OTHER INFORMATION Item 1.Legal ProceedingsItem 1A.Risk Factors Table of Contents HireQuest, Inc.Consolidated Balance Sheets(unaudited) HireQuest, Inc.Consolidated Statements of Operations HireQuest, Inc.Consolidated Statements of Changes in Stockholders’Equity HireQuest, Inc.Notes to Consolidated Financial Statements Note1- Overview and Summary of Significant Accounting Policies Nature of Business HireQuest, Inc., together with its subsidiaries, (“HQI,”the “Company,” “we,” us,” or “our”) is a nationwide franchisor of officesproviding direct-dispatch, executive search, and commercial staffing solutions primarily in the light industrial and blue-collarsegments of the staffing industry and traditional commercial staffing. Our franchisees provide various types of temporarypersonnel throughtwoprimary business models operating under the trade names “HireQuest Direct”, “HireQuest”, “Snelling”,“DriverQuest”,“HireQuest Health”, "TradeCorp", "SearchPath", “Northbound Executive Search”, "Management RecruitersInternational", "Sales Consultants" and "MRI".HireQuest Direct specializes primarily in unskilled and semi-skilled industrial andconstruction personnel. HireQuest, Snelling and TradeCorp specialize primarily in skilled and semi-skilled industrial personnel, OnDecember 30, 2024we completed our acquisition of Ready Temporary Staffing, LLC (“RTS”) for $1.4million. RTS has beena premier provider of staffing services to the employers and workers in Colorado for over50years. For additional information As ofMarch 31, 2025, we had424franchisee-owned officesand1company-owned officein43states, the District of Columbia,and13countries outside of the United States. We are the employer of record to approximately65thousandemployees annually,whoin turn provide services to thousands of clients in various industries including construction,healthcare,recycling, Basis of Presentation We have prepared the accompanying consolidated financial statements in accordance with accounting principles generallyaccepted in the United States of America (“U.S. GAAP”), and with the instructions to Article8of Regulation S-X.In the opinion These consolidated financial statements should be read in conjunction with the audited consolidated financial statements andaccompanying notes included in our Annual Report filed on Form10-K for the year endedDecember 31, 2024. Results for the Consolidation The consolidated financial statements include the accounts of HQI and all of its wholly-owned subsidiaries. Intercompany balancesand transactions have been eliminated. U.S. GAAP requires the primary beneficiary of a variable interest entity (“VIE”) to consolidate that entity. To be the primarybeneficiary of a VIE, an entity must have both the power to direct the activities that most significantly impact the VIE’s economicperformance and the obligation to absorb losses or the right to receive benefits from the VIE that are significant to the beneficiary.We provide acquisition financing to some of our franchisees that could result in our having to absorb losses. This results in some Use of Estimates The preparation of financial statements requires management to make estimates and assumptions that affect the reported amountsof assets, liabilities, revenue and expenses. Actual results could differ from those estimates. Significant estimates and assumptions underlie our workers’ compensation claim liabilities, our workers’ compensation RiskManagement Incentive Program, our deferred taxes, our allowance for credit losses, potential impairment of goodwill and other Table of Contents Franchise Royalties Below are summaries of our franchise royalties disaggregated