Gee Group Stock Price, News & Analysis

GEE Group Inc. (NYSE American: JOB) announced an investor update conference call scheduled for January 4, 2022, at 10 AM EST. The call aims to discuss the Fourth Quarter and Fiscal Year End results from September 30, 2021, alongside insights into the current quarter and outlook for Fiscal Year 2022. Interested participants can access the call through a webcast link. The company will post its prepared remarks and an updated investor presentation on its website prior to the call.

GEE Group announced significant financial improvements for Q4 and the fiscal year ending September 30, 2021. Revenue in Q4 reached approximately $41.5 million, up 34% from the previous year, with a gross profit of $15.2 million. The company reported a GAAP net income of $3.0 million compared to a loss of $12.6 million in Q4 2020. For the year, revenues totaled $148.9 million, a 15% increase, with adjusted EBITDA of $12.3 million. Additionally, $19.9 million in PPP loans were fully forgiven, resulting in zero debt on a pro forma basis.

GEE Group (NYSE American: JOB) has secured full forgiveness for its $19.9 million Paycheck Protection Program (PPP) loans, including all accrued interest. This marks a significant step in reducing their debt burden, as previous forgiveness in fiscal 2021 totaled approximately $3.4 million in principal. Following this latest update, GEE Group's pro forma balance sheet as of September 30, 2021, will show zero debt. With approximately $10 million in cash and $15 million in credit availability, the company is poised for growth despite ongoing challenges from the COVID-19 pandemic.

GEE Group Inc. (NYSE American: JOB) will present at the LD Micro Main Event from October 12-14, 2021, in Los Angeles. CFO Kim Thorpe and CAO Alex Stuckey are scheduled to speak on October 13 at 12:00 PM PST. They will discuss the company’s operations, financial status, and growth strategy, with a presentation available on the company’s investor relations website. The LD Micro Main Event is a key convention for small-cap investment opportunities, featuring various company presentations and Q&A sessions.

GEE Group reported robust financial results for Q3 fiscal 2021, with revenues of approximately $38.1 million, reflecting a 43.1% year-over-year increase. Gross profit rose 43.0% to roughly $13.8 million, while adjusted EBITDA surged 129% to approximately $3.1 million. Operating income improved to $1.6 million from a net loss of $1.7 million in Q3 2020. However, the company reported a net loss of $0.9 million. Cash and cash equivalents stood at $7.4 million, with $77.6 million in shareholders' equity.

GEE Group Inc. (NYSE: JOB) will report its fiscal third quarter results for the period ending June 30, 2021, on August 16, 2021. Following the earnings release, a conference call is scheduled for August 17, 2021, at 10:00 AM ET. Participants can join via specific dial-in numbers and passcodes provided in the press release. A replay of the call will also be available from August 17 to August 20, 2021. Details regarding this call, including access numbers for international participants, will be accessible on the Company's website.

CIT Group Inc. (NYSE: CIT) announced it acted as the agent and sole lender for a $20 million loan and revolving credit facility for GEE Group Inc. (NYSE American: JOB). The funding will be used to pay off existing debts and support working capital. GEE Group, based in Jacksonville, Florida, provides staffing and HR solutions across various sectors. The financing aids GEE Group's growth strategy while ensuring their financial stability, according to CEO Derek Dewan. CIT's Asset-Based Lending division focuses on meeting client needs with innovative financing structures.

GEE Group reported a revenue of $34.7 million for Q2 2021, a slight increase from the previous year. Operating income rose to $637,000 compared to a loss of $(2.4) million in Q2 2020. Adjusted EBITDA improved significantly to $2 million, up from $783,000 YoY. The company benefited from a $279,000 gain from the forgiveness of a PPP loan and closed a new $20 million ABL credit facility. Total cash at quarter-end stood at $14.3 million.