Mastech Digital Stock Price, News & Analysis

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.

Mastech Digital (NYSE American: MHH) reported strong financial results for Q2 2024, with total consolidated revenues increasing by $2.7 million to $49.5 million. The company achieved a record-breaking gross profit margin of 28.2%. Key highlights include:

- Data and Analytics Services segment revenues grew 10% sequentially to $8.9 million
- IT Staffing Services segment revenues increased 5% sequentially to $40.7 million
- GAAP diluted EPS improved to $0.12 profit from ($0.19) loss in Q2 2023
- Non-GAAP diluted EPS rose to $0.19 from $0.11 in Q2 2023

The company reported solid activity levels and increased client spending, with order bookings of $9.2 million in the Data and Analytics segment and a 10% growth in billable consultants over the first half of 2024.

Mastech Digital, Inc. (NYSE American: MHH), a leading provider of Digital Transformation IT Services, has announced a conference call to discuss its second quarter 2024 financial results. The call is scheduled for August 7, 2024, at 9:00 a.m. Eastern Time. CEO Vivek Gupta and CFO Jack Cronin will host the call.

Investors can access the call through a listen-only dial-in number (877-407-3980) or via a live webcast on the company's website. A replay will be available for 7 days following the call, accessible through domestic (877-660-6853) and international (201-612-7415) numbers using the conference number 13747171. The webcast replay will also be available on Mastech Digital's corporate website for a week.

Mastech Digital, Inc. (NYSE American: MHH), a leading provider of Digital Transformation IT Services, has announced a conference call to discuss its first quarter 2024 financial results. The call is scheduled for Wednesday, May 8th at 9:00 a.m. Eastern Time and will be hosted by CEO Vivek Gupta and CFO Jack Cronin. Investors can access the call via a listen-only dial-in number (877-407-3980) or through a live webcast available on the company's website. A replay of the call will be accessible for 7 days following the event, with domestic and international dial-in numbers provided. The webcast replay will also be available on Mastech Digital's corporate website for a week after the call.