XML 42 R32.htm IDEA: XBRL DOCUMENT v3.23.3
SEGMENT AND GEOGRAPHIC DATA (Tables)
9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Schedule of segment reporting information
AmericasAsia PacificEuropeCorporateInter-Segment EliminationTotal
For The Three Months Ended September 30, 2023
Revenue, from external customers$7,167 $26,106 $6,125 $— $— $39,398 
Inter-segment revenue119 — 18 — (137)— 
Total revenue$7,286 $26,106 $6,143 $— $(137)$39,398 
Adjusted net revenue, from external customers (a)
$6,854 $8,694 $3,822 $— $— $19,370 
Inter-segment adjusted net revenue119 (109)(19)— — 
Total adjusted net revenue$6,973 $8,585 $3,803 $— $$19,370 
EBITDA (loss) (b)
$20 $1,890 $(300)$(363)$— $1,247 
Depreciation and amortization(313)(52)(7)(2)— (374)
Intercompany dividend/interest (expense) income, net— (128)— 128 — — 
Interest income, net— — 88 — 90 
Provision for income taxes(44)(520)26 108 — (430)
Net income (loss)$(337)$1,192 $(281)$(41)$— $533 
For The Nine Months Ended September 30, 2023
Revenue, from external customers$25,008 $81,784 $20,575 $— $— $127,367 
Inter-segment revenue230 — (6)— (224)— 
Total revenue$25,238 $81,784 $20,569 $— $(224)$127,367 
Adjusted net revenue, from external customers (a)
$24,097 $26,734 $12,886 $— $— $63,717 
Inter-segment adjusted net revenue230 (147)(66)— (17)— 
Total adjusted net revenue$24,327 $26,587 $12,820 $— $(17)$63,717 
EBITDA (loss) (b)
$(876)$5,455 $995 $(2,169)$— $3,405 
Depreciation and amortization(936)(111)(22)(7)— (1,076)
Intercompany dividend/interest (expense) income, net— (375)1,218 375 (1,218)— 
Interest income, net— — 278 — 284 
Provision for income taxes111 (1,440)(387)568 — (1,148)
Net income (loss)$(1,701)$3,535 $1,804 $(955)$(1,218)$1,465 
As of September 30, 2023
Accounts receivable, net$6,020 $12,674 $6,195 $— $— $24,889 
Long-lived assets, net of accumulated depreciation and amortization (c)
$8,119 $867 $39 $18 $— $9,043 
Total assets$18,594 $23,759 $9,912 $8,491 $— $60,756 
AmericasAsia PacificEuropeCorporateInter-
Segment
Elimination
Total
For The Three Months Ended September 30, 2022    
Revenue, from external customers$12,555 $29,965 $6,166 $— $— $48,686 
Inter-segment revenue113 11 — (128)— 
Total revenue$12,668 $29,969 $6,177 $— $(128)$48,686 
Adjusted net revenue, from external customers (a)
$11,926 $8,324 $3,949 $— $— $24,199 
Inter-segment adjusted net revenue113 (93)10 — (30)— 
Total adjusted net revenue (a)
$12,039 $8,231 $3,959 $— $(30)$24,199 
EBITDA (loss) (b)
$810 $1,244 $279 $(705)$— $1,628 
Depreciation and amortization(334)(14)(7)(1)— (356)
Intercompany (expense) interest income, net— (99)2,793 2,881 (5,575)— 
Interest (expense) income, net— — — 23 — 23 
Provision for income taxes(31)(307)(7)— (340)
Net income (loss)$445 $824 $3,058 $2,203 $(5,575)$955 
For The Nine Months Ended September 30, 2022    
Revenue, from external customers$41,581 $91,042 $24,703 $— $— $157,326 
Inter-segment revenue212 16 49 — (277)— 
Total revenue$41,793 $91,058 $24,752 $— $(277)$157,326 
Adjusted net revenue, from external customers (a)
$39,437 $25,711 $11,898 $— $— $77,046 
Inter-segment adjusted net revenue174 (146)(2)— (26)— 
Total adjusted net revenue$39,611 $25,565 $11,896 $— $(26)$77,046 
EBITDA (loss) (b)
$5,515 $5,533 $977 $(2,312)$— $9,713 
Depreciation and amortization(960)(34)(20)(3)— (1,017)
Intercompany (expense) interest income, net— (255)4,007 4,256 (8,008)— 
Interest (expense) income, net— — 26 — 28 
(Provision for) benefit from income taxes(99)(1,382)(83)(93)— (1,657)
Net income (loss)$4,456 $3,864 $4,881 $1,874 $(8,008)$7,067 
As of December 31, 2022      
Accounts receivable, net$9,015 $10,900 $6,355 $— $— $26,270 
Long-lived assets, net of accumulated depreciation and amortization (c)
$9,027 $963 $49 $25 $— $10,064 
Total assets$23,775 $23,662 $9,568 $10,937 $— $67,942 

(a)Adjusted net revenue is net of the Direct contracting costs and reimbursed expenses caption on the Condensed Consolidated Statements of Operations. Direct contracting costs and reimbursed expenses include the direct staffing costs of salaries, payroll taxes, employee benefits, travel expenses, and insurance costs for the Company’s contractors and reimbursed out-of-pocket expenses and other direct costs. The region where services are provided, the mix of RPO and contracting, and the functional nature of the staffing services provided can affect operating income and EBITDA. The salaries, commissions, payroll taxes, and employee benefits related to recruitment professionals are included under the caption “Salaries and related” in the Consolidated Statements of Operations.

(b)SEC Regulation S-K Item 229.10(e)1(ii)(A) defines EBITDA as earnings before interest, taxes, depreciation and amortization. EBITDA is presented to provide additional information to investors about the Company’s operations on a basis consistent with the measures that the Company uses to manage its operations and evaluate its performance.
Management also uses this measurement to evaluate working capital requirements. EBITDA should not be considered in isolation or as a substitute for operating income and net income prepared in accordance with U.S. GAAP or as a measure of the Company’s profitability.

(c)Comprised of property and equipment, intangible assets and goodwill, net of accumulated depreciation and amortization.
Revenue and long-lived assets by geographic area A summary of revenues for the three and nine months ended September 30, 2023 and 2022 and net assets by geographic area as of September 30, 2023 and 2022 and as of December 31, 2022, were as follows:
AustraliaUnited
States
United
Kingdom
OtherTotal
For The Three Months Ended September 30, 2023  
Revenue (a)
$23,620 $6,706 $5,807 $3,265 $39,398 
For The Three Months Ended September 30, 2022  
Revenue (a)
$27,113 $11,839 $5,822 $3,912 $48,686 
For The Nine Months Ended September 30, 2023
Revenue (a)
$73,414 $23,501 $19,503 $10,949 $127,367 
For The Nine Months Ended September 30, 2022
Revenue (a)
$82,223 $39,600 $23,542 $11,961 $157,326 
As of September 30, 2023    
Long-lived assets, net of accumulated depreciation and amortization (b)
$54 $8,137 $39 $813 $9,043 
Net assets$11,846 $22,957 $4,401 $7,432 $46,636 
As of December 31, 2022    
Long-lived assets, net of accumulated depreciation and amortization (b)
$74 $9,070 $49 $871 $10,064 
Net assets$8,744 $25,204 $3,529 $8,315 $45,792 
  
(a) Revenue by geographic region disclosed above is net of any inter-segment revenue and, therefore, represents only revenue from external customers according to the location of the operating subsidiary.

(b) Comprised of property and equipment, intangible assets and goodwill, net of accumulated depreciation and amortization.