Hudson Global : Q1 2021 Earnings Slides

Q1 2021 Earnings Call

May 7, 2021

Hudson Global, Inc.

Forward-Looking Statements

This presentation contains statements that the Company believes to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this presentation, including statements regarding the Company's future financial condition, results of operations, business operations and business prospects, are forward-looking statements. Words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "predict," "believe" and similar words, expressions and variations of these words and expressions are intended to identify forward-looking statements. All forward-looking statements are subject to important factors, risks, uncertainties and assumptions, including industry and economic conditions that could cause actual results to differ materially from those described in the forward-looking statements. Such factors, risks, uncertainties and assumptions include, but are not limited to, global economic fluctuations; the adverse impacts of the recent coronavirus, or COVID-19 outbreak; the Company's ability to successfully achieve its strategic initiatives; risks related to the Company's large cash balance relative to its market capitalization as a small public company; risks related to potential acquisitions or dispositions of businesses by the Company; the Company's ability to retain and recruit qualified management and/or advisors; the Company's ability to operate successfully as a company focused on its RPO business; risks related to fluctuations in the Company's operating results from quarter to quarter; the ability of clients to terminate their relationship with the Company at any time; competition in the Company's markets; the negative cash flows and operating losses that may recur in the future; risks relating to how future credit facilities may affect or restrict our operating flexibility; risks associated with the Company's investment strategy; risks related to international operations, including foreign currency fluctuations, political events, natural disasters or health crises, including the ongoing COVID-19 outbreak; the Company's dependence on key management personnel; the Company's ability to attract and retain highly skilled professionals; the Company's ability to collect accounts receivable; the Company's ability to maintain costs at an acceptable level; the Company's heavy reliance on information systems and the impact of potentially losing or failing to develop technology; risks related to providing uninterrupted service to clients; the Company's exposure to employment-related claims from clients, employers and regulatory authorities, current and former employees in connection with the Company's business reorganization initiatives, and limits on related insurance coverage; the Company's ability to utilize net operating loss carry-forwards; volatility of the Company's stock price; the impact of government regulations; and restrictions imposed by blocking arrangements. Additional information concerning these and other factors is contained in the Company's filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this document. The Company assumes no obligation, and expressly disclaims any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

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Q1 2021: Consolidated Financial Results

US$ in Millions, except EPS

	'+ / - (1)		CC (2)	Q1 2021	Q1 2020
Revenue	+	42.8%		$34.5	$24.1
	+	26.6%	CC
Adjusted net revenue	+	29.8%		$12.7	$9.8
	+	19.4%	CC
SG&A(3)(4)	+	21.2%		$12.0	$9.9
	+	12.9%	CC
Adjusted EBITDA(5)		N/M (6)		$0.8	$(0.1)
		N/M	CC
Net Income (Loss)	+	60.3%		$(0.2)	$(0.5)
Basic and Diluted EPS				$(0.07)	$(0.17)
Adjusted Diluted EPS (5)				$0.07	$(0.08)

1. + / - indicates whether the caption was higher (+) or lower (-) than the comparison period.
2. CC represents constant currency.
3. Excludes stock compensation expense of $0.3 million and $0.1 million for the three months ending March 31, 2021 and 2020, respectively.
4. Excludes non-recurring expenses of $0.3 million for each of the three months ending March 31, 2021 and 2020.
5. Adjusted EBITDA and Adjusted Diluted EPS are Non-GAAP financial measures. Please reference slide 12 of this presentation for a

reconciliation of these Non-GAAP measures.	3
(6) N/M = Not Meaningful.

Q1 2021: Hudson Asia Pacific

US$ in Millions, except EPS

	'+ / - (1)		CC (2)	Q1 2021	Q1 2020
Revenue	+	49.5%		$25.3	$17.0
	+	28.5%	CC
Adjusted net revenue	+	27.6%		$5.8	$4.5
	+	11.7%	CC
SG&A(3)	+	16.9%		$4.6	$4.0
	+	3.0%	CC
Adjusted EBITDA(4)	+	103.5%		$1.1	$0.6
	+	73.7%	CC
Adjusted EBITDA, as a % of Adjusted net revenue		19.5%	12.2%

1. + / - indicates whether the caption was higher (+) or lower (-) than the comparison period.
2. CC represents constant currency.
3. Excludes stock compensation expense.
4. Adjusted EBITDA is a Non-GAAP financial measure. Please reference slide 12 of this presentation for a reconciliation of Non-GAAP measures.

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Q1 2021: Hudson Americas

US$ in Millions

	'+ / - (1)		CC (2)	Q1 2021	Q1 2020
Revenue	+	43.0%		$4.6	$3.2
	+	42.2%	CC
Adjusted net revenue	+	47.2%		$4.2	$2.9
	+	46.2%	CC
SG&A(3)	+	44.2%		$4.0	$2.8
	+	43.1%	CC
Adjusted EBITDA(4)	+	147.5%		$0.2	$0.1
	+	154.6%	CC
Adjusted EBITDA, as a % of Adjusted net revenue		4.8%	2.9%

1. + / - indicates whether the caption was higher (+) or lower (-) than the comparison period.
2. CC represents constant currency.
3. Excludes stock compensation expense.
4. Adjusted EBITDA is a Non-GAAP financial measure. Please reference slide 12 of this presentation for a

reconciliation of Non-GAAP measures.

1. N/M = Not Meaningful.

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