Mastech Digital Stock Price, News & Analysis

Mastech Digital (NYSE American: MHH) has expanded its strategic partnership with Informatica to deliver AI-led solutions within the $50 billion cloud data management and analytics market. The collaboration combines Mastech's data modernization expertise with Informatica's Intelligent Data Management Cloud (IDMC) platform, powered by CLAIRE AI and GenAI capabilities.

The partnership offers industry-specific solutions for healthcare, BFSI, and manufacturing sectors, featuring pre-configured metadata, rules, and dashboards. They are launching a co-branded AI and Data outcomes lab for client workshops and co-innovation. The collaboration aims to deliver transformative solutions with rapid deployment and measurable business impact, promising results in as little as 30 days.

Mastech Digital (NYSE American: MHH), a digital transformation IT services provider, has announced its upcoming first quarter 2025 financial results conference call. The call is scheduled for May 16, 2025, at 9:00 a.m. Eastern Time and will be hosted by CEO Nirav Patel and CFO Kannan Sugantharaman.

Investors can access the call through a dial-in number (877-269-7756) or via webcast on the company's website. A 7-day replay will be available through domestic (877-660-6853) and international (201-612-7415) numbers using conference number 13753809. The webcast recording will also be accessible on Mastech Digital's website for 7 days.

Mastech Digital (NYSE American: MHH) has announced a significant leadership transition with the appointment of Kannan Sugantharaman as Chief Financial and Operations Officer, effective April 14, 2025. He succeeds Jack Cronin, who will step down after 27 years of service.

Sugantharaman, previously CFO at Omega Healthcare Management Services and Cognizant Technology Solutions' Global Delivery Operations, will oversee Mastech Digital's global financial operations and focus on operational efficiencies. His responsibilities include financial planning, accounting, reporting, and compliance across all global functions.

The transition period will extend until May 30, 2025, with Cronin remaining to ensure a smooth handover. Under Cronin's tenure since 1998, the company successfully completed its 2008 spin-off from iGATE , marking its evolution into a technology-focused services provider.

Mastech Digital (NYSE American: MHH) reported strong Q4 2024 financial results with consolidated revenues increasing 10.2% to $50.7 million. The Data and Analytics Services segment showed impressive growth of 26.2% year-over-year, reaching $10.3 million in revenue. The IT Staffing Services segment grew 6.8% to $40.5 million.

The company achieved record consolidated gross margins of 29.0%. GAAP diluted earnings were $0.02 per share in Q4 2024, compared to a loss of ($0.46) in Q4 2023. Non-GAAP diluted earnings increased to $0.23 per share from $0.11.

For the full year 2024, revenues were $198.9 million with GAAP net income of $3.4 million. The company ended the year with $27.7 million in cash, no bank debt, and extended its share repurchase program through February 8, 2026.

Mastech Digital (NYSE American: MHH) has scheduled a conference call to discuss its fourth quarter and full year 2024 financial results. The call will take place on Wednesday, February 19th, 2025, at 9:00 a.m. Eastern Time, featuring CEO Nirav Patel and CFO Jack Cronin.

Investors can access the call through a listen-only dial-in number (877-407-3980) or via live webcast on the company's website. A replay will be available for 7 days, accessible through domestic (877-660-6853) and international (201-612-7415) numbers using conference number 13751287. The webcast replay will also be available on Mastech Digital's corporate website.

Mastech Digital (NYSE AMERICAN: MHH) has granted 702,358 non-qualified stock options to its new President and CEO, Nirav Patel, effective January 6, 2025. The options will vest over multiple conditions, including time-based and performance-based criteria.

The vesting schedule includes annual portions of 87,795 shares over four years, plus additional performance-based vesting tied to market capitalization targets: 175,589 shares when reaching $300M, 87,795 shares at $450M, and 87,795 shares at $600M market cap.

The grant serves as a material inducement to Patel joining the company as CEO and was made in accordance with NYSE American Listed Company Guide Rule Sec. 711. The options include provisions for acceleration and forfeiture in case of employment termination or company change of control.

Mastech Digital (NYSE-American: MHH) has appointed Nirav Patel as its new President, CEO, and Board Member, effective January 6, 2025. Patel, who brings over 20 years of technology executive experience, succeeds Vivek Gupta, who is stepping down after leading the company since 2016. Patel previously served as President and CEO of Bristlecone, where he transformed it into the industry's largest pure-play supply chain services provider. Before that, as Senior VP at Cognizant, he scaled the Communications, Media, and Technology business to over $2 billion in annual revenue. Under Gupta's 9-year leadership, Mastech Digital transformed from an IT staffing company to a technology solutions organization, notably through the acquisition of InfoTrellis's services business.

Mastech Digital (NYSE AMERICAN: MHH) reported strong Q3 2024 results with total revenues of $51.8 million, up 8% year-over-year and 5% sequentially. The company achieved record gross margins of 28.5%. Data and Analytics Services revenue grew 17% YoY to $9.4 million, while IT Staffing Services revenue increased 7% YoY to $42.4 million. GAAP diluted EPS improved to $0.16 from $0.01 in Q3 2023, and non-GAAP diluted EPS rose to $0.23 from $0.11. The company ended the quarter with $23.9 million in cash, no bank debt, and $25 million available credit facility.

Mastech Digital (NYSE American: MHH) has scheduled a conference call to discuss its third quarter 2024 financial results on November 6, 2024 at 9:00 a.m. Eastern Time. CEO Vivek Gupta and CFO Jack Cronin will host the call. Investors can access the call via dial-in number 877-407-3980 or through a live webcast on the company's website. A replay will be available for 7 days following the call, accessible via domestic (877-660-6853) and international (201-612-7415) numbers using conference number 13749035.