Recruiter.com Group Inc said it expects to report about $8.8 million in revenue for its fiscal fourth quarter of 2021.
“We delivered a strong quarter to end the 2021 fiscal year,” said Recruiter.com CEO Evan Sohn in a statement.
In fact, the company said its 4Q revenue figure, which is preliminary and unaudited, marks organic sequential growth of 40% and a 166% year-over-year increase. Annual revenue is expected to come in at $22.6 million.
READ: Recruiter.com Group says Recruiter Index for December 2021 reveals remote roles increased by 29%
More specifically for its 4Q, Recruiter.com said software subscriptions generated $750,000 in revenue, an increase of 61% versus the 3Q. And on-demand recruiting services banked $5.5 million in revenue, a 60% jump sequentially.
Looking ahead, Sohn said the company predicts that US employers will spend approximately $50 billion more hiring talent in 2022 than they did pre-pandemic.
“Recruiter.com is well-positioned to capitalize on this growth," he added.
4Q operational highlights include:
- Released market research in partnership with Revelio Labs, highlighting the growing demand for recruiters and talent acquisition professionals. Recruiter roles have far outpaced other roles at public companies, growing by over 120% since 2008.
- Announced partnership with Deel, a platform that streamlines worldwide compliance and payments for international teams, which recently raised $425 million at a valuation of $5.5 billion, empowering companies to hire contractors and employees globally.
- Released recruiting predictions for 2022, which include remote or hybrid work becoming the new normal, work-from-anywhere morphing into hire-from-anywhere, a tight job market, and diversity continuing to be a focus.
- Announced Memo of Understanding with Raise Recruiting. Recruiter.com and Raise will work together on a joint partnership that licenses Recruiter.com's software and on-demand recruiters in exchange for certain staffing-related clients of Recruiter.com.
- Announced the "Enterprise Plan" for Recruiters on Demand. It is designed to help employers hire 10 or more full-time recruiters as the demand for recruiting and talent acquisition professionals continues to soar.
- Received ample media coverage about the recruiting industry. CEO Sohn was featured on eight podcasts, made regular appearances on CNBC television and Yahoo Finance online stream, and participated in Yahoo's job market special. Recruiter.com was also quoted in top-tier publications, including The Wall Street Journal, Business Insider, CNN, Forbes, and the Business Journals.
- Recruiter.com participated in several investor-oriented conferences, including Benzinga Small Cap, Q4 Virtual Investor Summit, and LD Micro, where CEO Sohn delivered a keynote speech.
- Mediabistro, a Recruiter.com career community focused on media roles, was featured as one of the best career sites to post jobs online by the NY Post.
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