HireQuest Reports Financial Results for Third Quarter 2026

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GOOSE CREEK, S.C., Nov. 12, 2026 /PRNewswire/ -- HireQuest (Nasdaq: HQI), a national franchisor of on-demand staffing and direct-hire recruiting services, today reported financial…

GOOSE CREEK, S.C., Nov. 12, 2026 /PRNewswire/ -- HireQuest (Nasdaq: HQI), a national franchisor of on-demand staffing and direct-hire recruiting services, today reported financial results for the third quarter ended September 30, 2026.

Rick Hermanns, HireQuest's President and Chief Executive Officer, commented, "Our third quarter results reflect continued momentum across our core commercial staffing brands, as improving demand delivered another quarter of year-over-year revenue growth. Our franchise model continues to demonstrate its resilience, allowing us to grow alongside our franchisees as they benefit from a strengthened labor market.

"We believe the improving demand environment we have seen throughout 2026 positions our franchisees well as we close out the year and look ahead to 2027. We have a strong balance sheet and ample liquidity, and we remain focused on disciplined capital allocation as we work to deliver consistently profitable results and enhanced value for our shareholders," Mr. Hermanns concluded.

Franchise royalties in the third quarter of 2026 were $8.2 million compared to $8.1 million in the prior-year period, an increase of 1.5%. Service revenue was $604,000 compared to $387,000 in the prior-year period. The third quarter of 2025 included approximately $479,000 in franchise royalties and $61,000 in MRINetwork national advertising fund fees within service revenue related to the divestiture of certain assets and liabilities associated with the permanent placement franchisee base of HQ MRI Corporation on January 1, 2026 (the "MRINetwork Assets Divestiture"). Pro forma for the MRINetwork Assets Divestiture, franchise royalties increased 7.9% in the third quarter of 2026.

Total revenue in the third quarter of 2026 was $8.8 million compared to $8.5 million in the prior year period, an increase of 4.0%. Pro forma for the MRINetwork Assets Divestiture, total revenue increased 11.1% in the third quarter of 2026.

SG&A expenses in the third quarter of 2026…

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