DHI Group, parent owner of Dice.com and Clearance Jobs has announced financial results for the second quarter of 2023:
- Total revenue was $38.5 million, up 4% year over year.
- Total bookings were $32.3 million, down 9% year over year.
- Net loss was $0.1 million, or $0.00 per diluted share, a net income margin of 0%.
- Adjusted EBITDA was $8.7 million, up 12% year over year, and Adjusted EBITDA Margin was 23%.
- Cash flow from operations was $8.1 million, down from $10.2 million in the year-ago quarter.
- Cash was $2.7 million and total debt was $43.0 million at quarter end.
The company’s net loss was due to a number of factors, including a decrease in bookings, an increase in operating expenses, and a decrease in interest income. However, the company’s Adjusted EBITDA margin increased, which is a positive sign. The company also had $8.1 million in cash flow from operations, which is enough to cover its debt obligations.
“Given the current hiring environment, and its impact on our second quarter results, we now expect total revenue for 2023 to grow 3% to 4% year over year, with third quarter revenue expected to be flat year over year. With that, we continue to focus on the expense side of our business. Based on the cost reduction initiatives taken during the second quarter, we expect our Adjusted EBITDA margin to increase in the second half of the year, with third quarter margins at approximately 24% and at least 25% as we exit the year.”Kevin Bostick, CFO
Overall, the company’s financial results for the second quarter of 2023 were mixed. The company’s net loss was due to a number of factors, but its Adjusted EBITDA margin increased and it had strong cash flow from operations. The company will need to continue to focus on reducing its costs and increasing its bookings in order to improve its profitability.
Publisher RadioInsight has launched a new Jobs section. Over time, they hope to become the go-to destination for everyone looking for work or to fill openings in the radio industry and ancillary businesses. More revisions and additional features will be coming on the heels of today’s immediate launch, the company says. Its built on WordPress.
PharmiWeb.Jobs, the world’s premier life science job board, says they have now reached over 500,000 registered jobseekers, globally.
“Reaching half a million registered jobseekers is a real testament to the dedication of our team who work so hard to keep us at the forefront of what we do,” said Vincent Lody, Managing Director of PharmiWeb. “We have seen incredible growth over the past few years and look forward to continuing this growth on a truly global scale.”
Launched in 2009, PharmiWeb has been bringing the latest news and jobs in the life science industry to a global audience. Developed in partnership with Madgex – providers of the most sophisticated job board technology on the market – PharmiWeb.Jobs was launched in 2019 and is now widely regarded as the world’s premier life science job board.