HireQuest Inc
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
HQI$17.89-1.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows (unaudited)
Consolidated Statements of Cash Flows
| Three months ended | ||
|---|---|---|
| (in thousands) | March 31, 2024 | March 31, 2023 |
| Cash flows from operating activities | ||
| Net income | $1,619 | $2,630 |
| Income from discontinued operations | 73 | (312) |
| Net income from continuing operations | 1,692 | 2,318 |
| Adjustments to reconcile net income to net cash (used in) provided by operations: | ||
| Depreciation and amortization | 698 | 697 |
| Non-cash interest | 7 | 328 |
| Provision for bad debt | 67 | - |
| Stock based compensation | 362 | 362 |
| Deferred taxes | 41 | 135 |
| Loss on disposition of intangible assets | 11 | - |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (3,386) | (2,390) |
| Prepaid expenses, deposits, and other assets | 603 | 372 |
| Prepaid workers' compensation | (548) | (413) |
| Accounts payable | (47) | (241) |
| Risk management incentive program liability | 139 | 239 |
| Other current liabilities | (1,131) | 760 |
| Accrued payroll, benefits and payroll taxes | 306 | (1,326) |
| Due to franchisees | 242 | 526 |
| Workers' compensation claim payment deposit | 342 | (238) |
| Workers' compensation claims liability | (292) | (711) |
| Net cash (used in) provided by operating activities - continuing operations | (894) | 418 |
| Net cash used in operating activities - discontinued operations | (73) | (28) |
| Net cash (used in) provided by operating activities | (967) | 390 |
| Cash flows from investing activities | ||
| Purchase of property and equipment | - | (77) |
| Proceeds from payments on notes receivable | 396 | 187 |
| Cash issued for notes receivable | (13) | (25) |
| Investment in intangible asset | (99) | (82) |
| Net change in franchisee deposits | (71) | 34 |
| Net cash provided by investing activities | 213 | 37 |
| Cash flows from financing activities | ||
| Payments on term loan payable | (169) | (2,977) |
| Payments related to debt issuance | - | (131) |
| Net proceeds from revolving line of credit | 1,988 | 8,672 |
| Payment of dividends | (838) | (833) |
| Net cash provided by financing activities | 981 | 4,731 |
| Net increase in cash | 227 | 5,158 |
| Cash, beginning of period | 1,342 | 3,049 |
| Cash, end of period | $1,569 | $8,207 |
| Supplemental disclosure of non-cash investing and financing activities | ||
| Notes receivable issued for the sale of intangible assets | - | 2,000 |
| Supplemental disclosure of cash flow information | ||
| Interest paid | 236 | 204 |
| Income taxes paid, net of refunds | 78 | 4 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.