Mastech Digital Reports Strong Q4 Revenue Growth

Mastech ( (MHH) ) has released its Q4 earnings. Here is a breakdown of the information Mastech presented to its investors.

Mastech Digital, Inc. is a minority-owned enterprise that provides Digital Transformation IT Services, specializing in Data Management, Analytics Solutions, Digital Learning, and IT Staffing Services with a Digital First approach. The company is headquartered in Pittsburgh, PA, and operates offices across the U.S., Canada, Europe, and India.

In its latest earnings report, Mastech Digital announced consolidated revenue growth of 10.2% for the fourth quarter of 2024, reaching $50.7 million. The company also reported an extension of its share repurchase program through February 2026, underscoring its commitment to enhancing shareholder value.

Key financial highlights include a record consolidated gross margin of 29.0% and a significant increase in the Data and Analytics Services segment revenue by 26.2%. The IT Staffing Services segment also saw a revenue increase of 6.8%. Mastech’s GAAP diluted earnings per share improved to $0.02 from a loss of $0.46 in the previous year, while non-GAAP diluted earnings per share rose to $0.23 from $0.11.

Mastech’s full-year performance saw revenues of $198.9 million, with gross profits rising to $55.6 million. The company improved its net income to $3.4 million, a turnaround from the previous year’s loss of $7.1 million. This growth was supported by increased gross margins and operational efficiencies across business segments.

Looking ahead, Mastech Digital remains cautiously optimistic, noting some market uncertainties that could impact future performance. Nevertheless, the company’s strong financial position, with substantial cash balances and no bank debt, positions it well for continued growth and value creation for shareholders.