The following is a summary of the Mastech Digital, Inc. (MHH) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Mastech Digital reported Q4 2023 revenues of $46.1 million, marking a 20% decrease year-over-year.

• Gross profits as a percentage of revenues were at 24.6%, a slight decrease from 24.8% in Q4 2022.

• The company had a GAAP net loss of $5.4 million, down from a profit of $1.5 million in Q4 2022 and a non-GAAP net income of $1.3 million, down from $2.8 million in Q4 2022.

• Despite reduced revenues and profitability, the company remained 100% debt-free and improved its day sales outstanding from 59 days to 53 days.

Business Progress:

• After 15 months of decline, the IT Staffing Services segment showed its first growth in October and November.

• The company engaged a strategic advisor, Pimenta Inc., to shape the future direction of the company.

• There is increased customer demand in both business segments, and an improved performance is expected in 2024.

• Mastech Digital is increasing its emphasis and investment in its Engineering Staffing Services to support scaling and diversification of the portfolio.

• The company has acquired new long-term clients, indicating a steady future revenue stream and has committed to a share buyback program, showing confidence in the company's value.

More details: Mastech Digital IR

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