Star Equity Holdings, Inc. STRR
Star Equity Holdings, Inc. ("Star Equity," "Star," the "Company," "we," or "our," formerly known as Hudson Global, Inc. ("Hudson")) is a diversified multi-industry holding company operating through four reportable segments: Building Solutions, Business Services, Energy Services, and Investments. Our common stock and 10% Series A Cumulative Perpetual Preferred Stock are listed on the Nasdaq Global Market under the symbols "STRR" and "STRRP," respectively.
The Building Solutions segment operates in the construction industry. The Business Services segment, which consists of Hudson Talent Solutions, LLC ("HTS"), delivers customized recruitment and contracting solutions to mid-to-large multinational companies, including Recruitment Process Outsourcing ("RPO"), project-based RPO, contingent workforce solutions, recruitment consulting, outsourced professional contract staffing, and managed service provider ("MSP") services. The Energy Services segment consists of Alliance Drilling Tools, Inc. ("ADT"), which manufactures and supplies specialized drilling tools and downhole equipment used in directional drilling for oil and gas well construction as well as other applications, including mining, geothermal, and water wells. The Investments segment holds and manages certain corporate-owned real estate assets and investments in a limited number of publicly traded and private companies.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $172.2M | $140.1M | $161.3M | $200.9M | $169.2M | $101.4M | $93.8M | $66.9M | $59.6M | $422.7M |
| Cost of revenue | $92.3M | $69.9M | — | — | — | — | — | $24.8M | $17.6M | $248.3M |
| Gross profit | $79.9M | $70.2M | — | — | — | — | — | $42.1M | $42.1M | $174.4M |
| SG&A | $14.8M | $10.7M | $10.9M | $10.3M | $8.1M | $6.6M | $8.1M | $9.7M | $8.0M | $33.5M |
| Total operating expenses | $83.6M | $74.0M | $160.0M | $191.6M | $164.8M | $104.1M | $95.5M | $72.1M | $43.9M | $182.0M |
| Operating income | -$3.7M | -$3.8M | $1.4M | $9.3M | $4.4M | -$2.6M | -$1.7M | -$5.2M | -$1.8M | -$7.6M |
| Pre-tax income | -$3.9M | -$3.5M | $2.6M | $9.5M | $4.3M | -$708.0K | -$1.4M | -$5.2M | -$2.0M | -$8.2M |
| Income tax | $2.1M | $1.3M | $370.0K | $2.3M | $1.1M | $535.0K | $540.0K | $99.0K | $869.0K | $742.0K |
| Net income | -$6.7M | -$4.8M | $2.2M | $7.1M | $3.2M | -$1.2M | -$955.0K | $7.9M | -$2.9M | -$8.8M |
| EPS, basic | -1.85 | -1.59 | 0.72 | 2.37 | 1.11 | -0.43 | — | — | — | — |
| EPS, diluted | -1.85 | -1.59 | 0.70 | 2.27 | 1.07 | -0.43 | -0.30 | 2.39 | -0.09 | -0.26 |
| Shares, diluted (wtd. avg.) | $3.2M | $3.0M | $3.1M | $3.1M | $3.0M | $2.9M | $3.1M | $3.3M | $32.1M | $33.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $10.3M | $17.0M | $23.2M | $27.5M | $22.1M | $26.2M | $31.7M | $41.1M | $22.0M | $22.5M |
| Receivables | $35.2M | $20.1M | $19.7M | $26.3M | $25.7M | $13.4M | $12.8M | $9.9M | $11.5M | $58.5M |
| Inventory | $7.0M | $0 | — | — | — | — | — | — | — | — |
| Total current assets | $62.5M | $40.1M | $45.8M | $55.5M | $49.2M | $40.3M | $44.9M | $52.1M | $97.0M | $84.1M |
| Property, plant and equipment | $18.6M | $242.0K | $421.0K | $673.0K | $371.0K | $115.0K | $186.0K | $170.0K | $1.0K | $7.0M |
| Goodwill | $5.9M | $5.7M | $5.7M | $4.9M | $4.2M | $2.1M | $0 | — | $0 | $1.8M |
| Other intangibles | $1.7M | $2.5M | $3.6M | $4.5M | $5.5M | $1.4M | $0 | — | — | — |
| Total assets | $113.2M | $52.6M | $61.0M | $67.9M | $61.2M | $45.4M | $46.7M | $53.2M | $111.6M | $101.8M |
| Accounts payable | $4.8M | $1.8M | $868.0K | $1.7M | $871.0K | $576.0K | $1.1M | $1.5M | $1.2M | $4.7M |
| Short-term debt | $8.5M | $0 | — | — | — | — | — | — | $7.1M | $7.8M |
| Total current liabilities | $29.8M | $11.2M | $11.2M | $21.1M | $19.7M | $10.0M | $9.5M | $10.6M | $60.4M | $50.6M |
| Total liabilities | $47.5M | $12.2M | $12.4M | $22.1M | $21.9M | $11.1M | $10.7M | $12.7M | $68.5M | $59.9M |
| Retained earnings | -$435.9M | -$430.0M | -$425.2M | -$427.4M | -$434.5M | -$437.8M | -$436.5M | -$435.6M | -$443.4M | -$440.5M |
| Total equity | $65.7M | $40.4M | $48.6M | $45.8M | $39.3M | $34.3M | $36.0M | $40.5M | $43.2M | $41.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$7.3M | -$2.8M | $315.0K | $9.4M | $2.5M | -$1.4M | -$4.8M | -$15.5M | $2.2M | -$9.4M |
| Depreciation and amortisation | $2.1M | $1.4M | $1.5M | $1.4M | $597.0K | $179.0K | $85.0K | $696.0K | $2.7M | $3.1M |
| Stock-based compensation | $1.5M | $1.3M | $1.5M | $2.3M | $2.4M | $737.0K | $961.0K | $1.5M | $1.3M | $1.4M |
| Capital expenditure | $1.7M | $18.0K | $99.0K | $504.0K | $284.0K | $22.0K | $84.0K | $465.0K | $1.5M | $2.8M |
| Investing cash flow | $4.6M | $1.1M | -$2.2M | -$1.3M | -$6.3M | -$4.0M | -$84.0K | $27.3M | -$1.5M | -$2.7M |
| Financing cash flow | -$2.0M | -$3.1M | -$2.5M | -$2.0M | -$4.0K | -$927.0K | -$4.6M | $7.2M | -$2.5M | -$2.9M |
| Dividends paid | — | — | — | — | — | — | — | — | $0 | $3.4M |
| Buybacks | $2.6M | $2.8M | $959.0K | $1.1M | $0 | $2.2M | $4.5M | $208.0K | $858.0K | $5.1M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-194281.
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