Hire Technologies Inc. (TSXV: HIRE.V) cited strong hiring activity and a boost from acquisitions in the third quarter. This drove revenue up 203.2% year over year. However, on an organic basis, revenue rose 35% at the Toronto-based staffing provider. Acquisitions made since the start of 2020 have added C$4.0 million in revenue.
| (C$) | Q3 2021 | Q3 2020 | % change | Q3 2021 (US$) | |
| Revenue | $7,728,382 | $2,549,339 | 203.2% | $6,077,677 | |
| Gross margin | $3,400,200 | $883,317 | 284.9% | $2,673,951 | |
| Gross margin percentage | 44.0% | 34.6% | |||
| Net income/loss | ($922,404) | ($4,116,233) | nm | ($725,388) |
“Hire achieved another record quarter, driven by the organic growth of our portfolio companies as talent recruitment remains strong across practically all sectors,” CEO Simon Dealy said.
Share price and market cap
Hire Technologies reported results on Nov. 24. Shares closed up 5.08% to 31 cents Canadian on that day. On Monday, the company had a market cap of C$24.5 million (US$19.3 million).