HIRERIGHT HOLDINGS Announces FY2023 Q2 Earnings Results for June 30 2023
August 12, 2023
🌥️Earnings Overview
On August 8 2023, HIRERIGHT HOLDINGS ($NYSE:HRT) reported its financial results for the second quarter of FY2023, ending June 30 2023. The company saw a decrease in revenue from the same time last year, with total revenue for Q2 at USD 192.1 million, a 13.6% drop year over year. Net income for the period was USD 2.5 million, a decline of 89.7% compared to the same time in FY2022.
Share Price
HIRERIGHT HOLDINGS announced its FY2023 Q2 earnings results for June 30 2023 on Tuesday. The company’s stock opened at $10.3 and closed at $10.3, representing a drop of 1.7% from the prior closing price of 10.4. This marks the first time that HIRERIGHT HOLDINGS has reported its quarterly earnings results since it went public in February of this year. This strong performance was driven by the company’s investments in technology, which allowed it to better meet customer needs and expand its global presence.
Additionally, HIRERIGHT HOLDINGS’ commitment to transparency and compliance further solidifies its reputation as a reliable provider of background screening solutions to enterprise customers around the world. Looking ahead, the company remains focused on leveraging its technology and data-driven insights to continue driving revenue growth and enhancing customer experience. With a strong balance sheet and plans to invest in expanding its offerings, HIRERIGHT HOLDINGS is well-positioned for continued success in the years ahead. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Hireright Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 753.24 | 103.17 | 13.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Hireright Holdings. More…
| Operations | Investing | Financing |
| 84.43 | -18.11 | -108.35 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Hireright Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.51k | 1.02k | 6.59 |
Key Ratios Snapshot
Some of the financial key ratios for Hireright Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.6% | 35.2% | 8.6% |
| FCF Margin | ROE | ROA |
| 9.1% | 7.9% | 2.7% |
Analysis
At GoodWhale, we are dedicated to providing our customers with the best possible information to make informed decisions when it comes to their investments. We have conducted a thorough analysis on HIRERIGHT HOLDINGS and have determined that it is a high risk investment. When assessing the company’s financial and business standing, we have identified two key risk warnings in their balance sheet and cashflow statement. Our analysis reveals that investing in HIRERIGHT HOLDINGS carries a great degree of risk and may not be suitable for all investors. If you are interested in learning more about our risk assessment for HIRERIGHT HOLDINGS, please visit our website at goodwhale.com and register. We provide comprehensive and up-to-date information to help you make the best decision for your investments. More…
Peers
In recent years, the competition between HireRight Holdings Corp and its competitors has intensified. While HireRight has remained the dominant player in the industry, its competitors have been rapidly catching up. Institution for a Global Society Corp, Spire Global Inc, and ShiftPixy Inc are all major players in the industry, and each has its own strengths and weaknesses.
– Institution for a Global Society Corp ($TSE:4265)
Institution for a Global Society Corp is a financial services company with a market cap of 2.48B as of 2022. The company has a Return on Equity of 3.15%. The company offers a variety of financial services including banking, lending, and investment services. The company has a strong focus on social responsibility and strives to make a positive impact on the world.
– Spire Global Inc ($NYSE:SPIR)
Founded in 2007, Spire Global is a data and analytics company that provides data services to the maritime, aviation, and weather industries. The company has a market cap of 182.02M as of 2022 and a ROE of 11.75%. Spire Global’s data services help its customers to make better decisions, improve operational efficiency, and reduce risk.
– ShiftPixy Inc ($NASDAQ:PIXY)
Pixy Inc is a publicly traded company with a market capitalization of 173.79M as of 2022. The company has a return on equity of -26.99%. Pixy Inc is engaged in the development, manufacture and sale of digital imaging products and solutions.
Summary
HIRERIGHT HOLDINGS released its second quarter earnings results for FY2023 on August 8, 2023, showing total revenue of USD 192.1 million, a decline of 13.6% from the prior year. Net income of USD 2.5 million was reported, a decrease of 89.7% year over year. Investors should note that this decrease in earnings could indicate a weak outlook for the company moving forward. Despite the negative figures, a thorough review of the company’s financials may reveal further insight into its performance and potential long-term investment opportunities.
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