Recruiter.com Group, Inc has announced a 38% sequential increase in its second-quarter 2021 revenue to $4.4 million, which the company attributed primarily to a rise in its Recruiters on Demand business and the introduction of software subscriptions.
“In our first quarter as a Nasdaq listed company, Recruiter.com continued its rapid growth trajectory, with revenues rising 38% quarter-over-quarter and 81% year-to-date,” Recruiter.com CEO Evan Sohn said in a statement.
“We are excited to report that our on-demand recruiting service grew 88% quarter-over-quarter, showing clear market demand. We expect strong growth throughout the second half of 2021 and beyond, as we advance our mission of revolutionizing recruiting and talent acquisition into a rapid, on-demand service,” Sohn added.
READ: Recruiter.com Group says it has surpassed 30,000 recruiters in its on-demand network
The company also said it recorded a 2Q net profit of $3.5 million, or $0.99 per share, which included $7.5 million in non-cash income. After one-time items, however, it realized an adjusted EBITDA loss of $776,000 for the quarter.
As well, Recruiter.com noted that its new software subscriptions delivered more than $175,000 in recurring revenue during the quarter.
Recruiter.com is an online hiring platform delivering on-demand recruiting technology and services to both large and small businesses. With AI and video technology, and the world's largest network of recruiters, Recruiter.com delivers on-tap recruiting that flexes with hiring needs.
Contact Sean at sean@proactiveinvestors.com