HireQuest Inc
For the period ended Sep 30, 2024. Filed Nov 8, 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.
Sep 30, 2024 · Filed Nov 8, 2024
HQI$17.89-1.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
| Nine months ended | ||
|---|---|---|
| (in thousands) | September 30, 2024 | September 30, 2023 |
| Cash flows from operating activities | ||
| Net income | $1,451 | $6,120 |
| Loss (income) from discontinued operations | 152 | (151) |
| Net income from continuing operations | 1,603 | 5,969 |
| Adjustments to reconcile net income to net cash provided by operations: | ||
| Depreciation and amortization | 2,092 | 2,096 |
| Non-cash interest | 14 | 348 |
| Goodwill and intangible asset impairment charge | 6,035 | |
| Provision for credit losses | 196 | 300 |
| Stock based compensation | 1,249 | 1,128 |
| Deferred taxes | (1,437) | (17) |
| Write down of note receivable | 125 | - |
| Loss on disposition of intangible assets | 111 | - |
| Non-cash gain | - | (77) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (6,294) | (4,443) |
| Prepaid expenses, deposits, and other assets | 731 | (1,460) |
| Prepaid workers' compensation | (1,080) | (163) |
| Accounts payable | 636 | (238) |
| Risk management incentive program liability | 115 | (356) |
| Other current liabilities | (684) | (869) |
| Accrued payroll, benefits and payroll taxes | (1,126) | (1,008) |
| Due to franchisees | 1,133 | 1,144 |
| Workers' compensation claim payment deposit | 342 | (238) |
| Workers' compensation claims liability | (227) | (285) |
| Net cash provided by operating activities - continuing operations | 3,534 | 1,831 |
| Net cash used in operating activities - discontinued operations | (152) | (46) |
| Net cash provided by operating activities | 3,382 | 1,785 |
| Cash flows from investing activities | ||
| Cash paid for acquisition | (300) | - |
| Purchase of property and equipment | - | (98) |
| Proceeds from the sale of purchased locations | 100 | - |
| Proceeds from payments on notes receivable | 1,171 | 685 |
| Cash issued for notes receivable | (13) | (143) |
| Investment in intangible asset | (338) | (290) |
| Net change in franchisee deposits | (63) | 156 |
| Net cash provided by investing activities | 557 | 310 |
| Cash flows from financing activities | ||
| Payments on term loan payable | (426) | (3,266) |
| Payments related to debt issuance | - | (131) |
| Net (payments to) proceeds from revolving line of credit | (717) | 1,867 |
| Payment of dividends | (2,517) | (2,504) |
| Net cash used in financing activities | (3,660) | (4,034) |
| Net increase (decrease) in cash | 279 | (1,939) |
| Cash, beginning of period | 1,342 | 3,049 |
| Cash, end of period | $1,621 | $1,110 |
| Supplemental disclosure of non-cash investing and financing activities | ||
| Notes receivable issued for the sale of intangible assets | 100 | 2,017 |
| Supplemental disclosure of cash flow information | ||
| Interest paid | 744 | 1,124 |
| Income taxes paid, net of refunds | 796 | 2,040 |
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