Hiremii Ltd (ASX:HMI) has delivered strong growth in quarterly revenue and has enhanced its scale following the completion of the Inverse Group acquisition during the December 2021 quarter.
Revenue in Q2 FY22 of $2,452,000 increased by 40% compared to last year, with one month of new revenue from Inverse in December 2021.
The technology-driven full-service labour hire and recruitment company’s revenue in Q2 FY22 also increased Q-o-Q by 85% versus Q1 FY22 revenue of $1,323,000.
Increase in active recruited contractors
Hiremii’s main driver for growth in H1 FY22 continued to increase in active recruited contractors for the company's clients.
As of today, there are now about 90 contractors actively employed by Hiremii group clients.
Following the acquisition of Inverse, Hiremii now also has a much more diversified client base with over 100 clients, 40 of whom are active.
The balance of inactive clients provides Hiremii with an opportunity to grow contractors once Covid related labour movement restrictions start to ease in 2022.
Integration of recruitment businesses
Commenting on the achievements over the last quarter, recently appointed managing director and previous CEO of Inverse, Andrew Hornby, said: "Despite tough ongoing Covid-related restrictions on labour movement, Hiremii delivered strong growth of 40% in the quarter and has significantly enhanced its scale through the acquisition of Inverse late in the second quarter of FY22.
“Our focus for Q3 is to quickly complete the integration of our two recruitment businesses to continue to provide strong service to our clients and help deliver their recruitment requirements through the current difficult labour environment.
Shortlistmii launch
“Looking further ahead, we are excited to be ready to launch Shortlistmii to our client base in the coming months as our next growth strategy for 2022 and beyond.
“This is the first service offer from the world-class Hiremii AI-driven recruitment management platform, which will provide our clients with significantly increased efficiency and effectiveness in their own recruitment processes."