HireQuest, Inc. reported a total revenue of $30.6 million for the fiscal year ending December 31, 2025, a decrease of 11.4% from $34.6 million in 2024. The decline in revenue was primarily attributed to a drop in system-wide sales, which fell 11.3% from $563.6 million in 2024 to $500.2 million in 2025. The company noted that the staffing and recruiting industry faced challenges due to economic factors such as inflation and reduced hiring activity. Despite the revenue decline, HireQuest's income from operations increased to $6.3 million in 2025, up from $4.4 million in 2024, largely due to a significant impairment charge related to goodwill and intangible assets recorded in the previous year.
In terms of operational changes, HireQuest completed two acquisitions in 2023 and 2024, including the purchase of Ready Temporary Staffing for $1.4 million, which expanded its presence in Colorado. Additionally, the company divested its MRI offices to MRINetwork Operations, LLC, effective January 1, 2026, which involved transferring certain assets and liabilities. As of December 31, 2025, HireQuest operated 413 franchisee-owned offices and one company-owned office across 43 states and 14 countries, employing approximately 75,000 temporary workers.
The company also reported a net income of $6.3 million for 2025, compared to $3.7 million in 2024, reflecting improved operational efficiency despite the revenue decline. The decrease in system-wide sales was particularly pronounced in the MRI and other professional recruiting segments, which saw a 26.6% drop. HireQuest's employee headcount remained stable, with approximately 75,000 temporary employees and 85 independent contractors engaged throughout the year.
Looking ahead, HireQuest expressed optimism about future growth opportunities, citing the potential for increased demand in the staffing industry as the economy stabilizes. The company plans to continue its strategy of making strategic acquisitions and expanding its franchise network, supported by a strong liquidity position with current assets exceeding liabilities by over $68 million. The management believes that the low percentage of the workforce currently engaged in temporary staffing presents significant opportunities for organic growth in the coming years.
About HireQuest, Inc.
HireQuest, Inc. is a nationwide franchisor specializing in temporary staffing and permanent recruitment services across light industrial, blue-collar, and professional sectors. Its business model relies on franchise offices providing direct-dispatch, staffing solutions, and executive placement, serving diverse industries and markets. Core strengths include local ownership, proprietary tools, and a scalable franchise system, offering flexible workforce solutions and total talent access.
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