The following is a summary of the GEE Group Inc. (JOB) Q2 2024 Earnings Call Transcript:

Financial Performance:

• GEE Group's consolidated revenues for Q2 2024 stood at $28 million and were $58.7 million for the first half of fiscal 2024.

• The firm's gross profit and gross margin were $8.7 million and 31.3% respectively for Q2 2024 and reached $18.5 million and 31.5% for H1 2024.

• The company recorded a net loss of $1 million for Q2 2024 and a $2.6 million net loss for the first half of fiscal 2024.

• The company's non-GAAP adjusted EBITDA was negative at $600,000 for Q2 2024 and negative $800,000 for H1 2024.

• The company maintained total cash in hand of $21.2 million.

Business Progress:

• The company noted a softening demand environment which affected performance but sees potential recovery, highlighted by increased JOB orders in April compared to March.

• Despite challenges, the company is focusing on initiatives for organic growth and strategic M&As.

• GEE Group has maintained a successful retention of top producers and has hired additional potential top producers.

• The company's capital allocation strategy includes potential stock buybacks at the right time and considers offshore opportunities to save on recruiting costs.

• GEE Group expressed its interest in possible M&A activities to enhance shareholder value, highlighting their readiness to pay multiples ranging from 5 to 8 times based on several factors.

More details: GEE Group IR

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