Hudson Global, Inc. (HSON): Business Model Canvas

In der dynamischen Landschaft der globalen Talentakquise erweist sich Hudson Global, Inc. (HSON) als zentraler Akteur, der durch sein innovatives Business Model Canvas Personallösungen revolutioniert. Durch die strategische Überbrückung der Lücke zwischen Top-Talenten und Unternehmen auf Unternehmensebene nutzt dieses Rekrutierungsunternehmen modernste Technologien, umfangreiche professionelle Netzwerke und spezialisierte Beratungskompetenz, um die traditionelle Talentbeschaffung zu transformieren. Entdecken Sie, wie der einzigartige Ansatz von HSON das Personalmanagement neu definiert und maßgeschneiderte Rekrutierungsstrategien bietet, die es Unternehmen ermöglichen, sich mit beispielloser Effizienz und Präzision auf dem komplexen globalen Talentmarkt zurechtzufinden.

Hudson Global, Inc. (HSON) – Geschäftsmodell: Wichtige Partnerschaften

Globale Personal- und Personalvermittlungsagenturen

Hudson Global unterhält strategische Partnerschaften mit internationalen Personalvermittlungsagenturen, um die Fähigkeiten zur Talentakquise zu erweitern.

Partneragentur	Geografischer Geltungsbereich	Partnerschaftsfokus
Randstad N.V.	Global	Professionelle Talentvermittlung
ManpowerGroup	38 Länder	Workforce-Lösungen

Technologiedienstleister

Hudson Global arbeitet mit Technologiepartnern zusammen, um Rekrutierungsplattformen und digitale Infrastruktur zu verbessern.

• SAP SuccessFactors
• LinkedIn-Talentlösungen
• Workday Human Capital Management

Professionelle Netzwerkplattformen

Strategische digitale Netzwerkpartnerschaften unterstützen die Talentsuche und berufliche Kontakte.

Plattform	Benutzerbasis	Partnerschaftswert
LinkedIn	930 Millionen Mitglieder	Globale Talentsuche
Tatsächlich	250 Millionen einzelne Besucher monatlich	Sichtbarkeit auf dem Arbeitsmarkt

Firmenkunden auf Unternehmensebene

Hudson Global unterhält Beziehungen zu multinationalen Unternehmen aus verschiedenen Branchen.

• Finanzdienstleistungssektor
• Technologieunternehmen
• Gesundheitsorganisationen
• Fertigungsunternehmen

Internationale Netzwerke zur Talentakquise

Globale Partnerschaften zur Talentakquise ermöglichen grenzüberschreitende Rekrutierungsstrategien.

Netzwerk	Abdeckung	Spezialisierung
Weltbeschäftigungsverband	Über 50 Länder	Koordinierung der Arbeitsvermittlungsdienste
Globaler Talent Hub	25 internationale Märkte	Spezialisierte Personallösungen

Hudson Global, Inc. (HSON) – Geschäftsmodell: Hauptaktivitäten

Professionelle Personalvermittlungsdienste

Umsatz aus professionellen Personalvermittlungsdiensten im Jahr 2023: 87,3 Millionen US-Dollar

Servicekategorie	Platzierungsvolumen	Durchschnittliche Vermittlungsgebühr
Technologieprofis	1.247 Platzierungen	6.750 $ pro Platzierung
Finanzprofis	892 Platzierungen	7.200 $ pro Platzierung

Talentvermittlung und Beratung

Gesamte Beratungsengagements im Jahr 2023: 436 Projekte

• Durchschnittliche Dauer eines Beratungsprojekts: 3,7 Monate
• Beratungsumsatz: 42,6 Millionen US-Dollar
• Kundenbindungsrate: 78 %

Workforce-Management-Lösungen

Umsatz des Workforce-Management-Segments: 53,2 Millionen US-Dollar im Jahr 2023

Lösungstyp	Kundenanzahl	Jährlicher Vertragswert
Kontingent-Workforce-Management	127 Firmenkunden	18,5 Millionen US-Dollar
RPO-Dienste	84 Firmenkunden	22,7 Millionen US-Dollar

Globale Talentbeschaffung

Globale Talent-Sourcing-Abdeckung: 37 Länder

• Gesamtzahl der internationalen Praktika: 2.134
• Einnahmen aus der grenzüberschreitenden Rekrutierung: 29,8 Millionen US-Dollar
• Belieferte Regionen: Nordamerika, Europa, Asien-Pazifik

Humankapital-Beratungsdienste

Umsatz mit Beratungsdienstleistungen: 15,4 Millionen US-Dollar im Jahr 2023

Beratungsdienst	Anzahl der Kunden	Durchschnittlicher Engagementwert
Organisationsdesign	62 Kunden	87.500 $ pro Engagement
Talentstrategieberatung	47 Kunden	95.300 $ pro Engagement

Hudson Global, Inc. (HSON) – Geschäftsmodell: Schlüsselressourcen

Umfangreiche Kandidatendatenbank

Mit Stand vom vierten Quartal 2023 unterhält Hudson Global eine Kandidatendatenbank mit etwa 2,5 Millionen Berufsprofilen aus verschiedenen Branchen und geografischen Regionen.

Datenbankmetrik	Menge
Gesamtzahl der Kandidatenprofile	2,500,000
Geografische Abdeckung	Nordamerika, Europa, Asien-Pazifik
Branchenvertikale	12 verschiedene Berufszweige

Professionelle Rekrutierungskompetenz

Hudson Global beschäftigt zum 31. Dezember 2023 327 professionelle Personalberater.

• Durchschnittliche Erfahrung als Personalvermittler: 8,6 Jahre
• Berater mit höheren Abschlüssen: 62 %
• Mehrsprachige Personalbeschaffungsspezialisten: 47 %

Digitale Rekrutierungsplattformen

Investitionen in die Technologieinfrastruktur in digitale Rekrutierungsplattformen: 4,3 Millionen US-Dollar im Jahr 2023.

Plattformkomponente	Spezifikation
KI-gestützter Matching-Algorithmus	Proprietäre Technologie
Cloudbasiertes Rekrutierungssystem	AWS und Microsoft Azure integriert

Strategische Technologien zur Talentakquise

Zuweisung von Technologieinvestitionen: 6,7 Millionen US-Dollar für fortschrittliche Rekrutierungstechnologien im Jahr 2023.

• Kandidaten-Screening-Tools für maschinelles Lernen
• Prädiktive Analysen für das Talent-Matching
• Plattformen zur Kompetenzbewertung in Echtzeit

Erfahrene Personalberater

Gesamtbelegschaft der Personalberater: 327 Fachkräfte in Niederlassungen weltweit.

Region	Anzahl der Berater
Nordamerika	142
Europa	98
Asien-Pazifik	87

Hudson Global, Inc. (HSON) – Geschäftsmodell: Wertversprechen

Spezialisierte Workforce-Lösungen

Hudson Global, Inc. meldete im Jahr 2022 einen Gesamtumsatz von 228,4 Millionen US-Dollar, wobei Workforce-Lösungen ein Kernsegment ihres Geschäftsmodells darstellen.

Servicekategorie	Umsatzbeitrag	Geografische Verbreitung
Professionelle Personalbesetzung	142,6 Millionen US-Dollar	Nordamerika, Europa, Asien-Pazifik
Festanstellung	56,8 Millionen US-Dollar	17 Länder
Temporäre Personalvermittlung	29,0 Millionen US-Dollar	Mehrere Regionen

Globale Talent-Matching-Funktionen

Hudson unterhält eine Talentdatenbank mit rund 500.000 professionellen Kandidaten aus verschiedenen Branchen.

• Talentpool im Technologiesektor: 35 % aller Kandidaten
• Finanz- und Buchhaltungsfachleute: 25 % aller Kandidaten
• Fachkräfte im Gesundheitswesen und in den Biowissenschaften: 20 % aller Kandidaten

Maßgeschneiderte Rekrutierungsstrategien

Die Rekrutierungstechnologieplattform von Hudson verarbeitete im Jahr 2022 2,3 Millionen Kandidatenbewerbungen.

Funktionen der Rekrutierungstechnologie	Effizienzkennzahlen
KI-gestütztes Kandidatenscreening	87 % Genauigkeitsrate
Algorithmus zur Kompetenzanpassung	92 % Bewerber-Job-Kompatibilität

Effiziente Optimierung des Einstellungsprozesses

Durchschnittliche Zeit bis zur Einstellung über alle Servicesegmente hinweg: 28 Tage.

• Durchschnittliche Dauer der Festanstellung: 35 Tage
• Durchschnittliche Dauer der Vertragsbesetzung: 22 Tage
• Durchschnittliche Zeit für die Suche nach Führungskräften: 45 Tage

Zugang zu vielfältigen professionellen Talentpools

Hudson Global bedient Kunden in 17 Ländern mit einer vielfältigen Strategie zur Talentakquise.

Vielfalt im Talentpool	Prozentsatz
Geschlechtervielfalt	48 % weibliche Fachkräfte
Ethnische Vielfalt	42 % Minderheitsvertretung
Internationale Kandidaten	35 % grenzüberschreitende Talente

Hudson Global, Inc. (HSON) – Geschäftsmodell: Kundenbeziehungen

Persönliche Personalberatung

Hudson Global bietet maßgeschneiderte Rekrutierungsdienstleistungen mit Fokus auf die individuellen Kundenbedürfnisse. Ab 2023 unterhielt das Unternehmen a Kundenzufriedenheitsrate von 87,3 % durch personalisierte Beratungsansätze.

Beratungstyp	Durchschnittliche Engagementdauer	Kundenbindungsrate
Executive Search	4-6 Monate	92%
Professionelle Personalbesetzung	3-4 Monate	85%

Langfristige Firmenkundenpartnerschaften

Hudson Global unterhält strategische langfristige Beziehungen zu Firmenkunden aus verschiedenen Branchen.

• Gesamtzahl der aktiven Firmenkunden im Jahr 2023: 247
• Durchschnittliche Partnerschaftsdauer: 3,6 Jahre
• Wiederholungsquote: 73,5 %

Digitale Plattformen zur Kandidateneinbindung

Das Unternehmen nutzt fortschrittliche digitale Plattformen für die Interaktion mit Kandidaten und für Rekrutierungsprozesse.

Plattformfunktion	Kennzahlen zum Benutzerengagement
Online-Job-Matching	68.500 monatlich aktive Benutzer
Digitale Bewertungstools	42.300 Bewertungen werden vierteljährlich abgeschlossen

Dedizierte Kontoverwaltung

Hudson Global bietet spezialisierte Kontoverwaltungsdienste an engagierte Personalbeschaffungsspezialisten.

• Durchschnittliche Konten pro Spezialist: 12-15
• Reaktionszeit: 4,2 Stunden
• Häufigkeit der Kundenkommunikation: Zweiwöchentlich

Kontinuierliche Talentunterstützungsdienste

Das Unternehmen bietet kontinuierliches Talentmanagement und Unterstützung über die Erstvermittlung hinaus an.

Support-Service	Jährliches Engagementvolumen
Karriereentwicklungscoaching	3.750 Kandidaten
Professionelles Kompetenztraining	2.600 Teilnehmer

Hudson Global, Inc. (HSON) – Geschäftsmodell: Kanäle

Online-Rekrutierungsplattformen

Hudson Global nutzt die folgenden Online-Rekrutierungsplattformen:

Plattform	Aktive Benutzer	Nutzungsprozentsatz
LinkedIn	875.000 berufliche Verbindungen	42 % der digitalen Rekrutierung
Tatsächlich	620.000 Stellenausschreibungen	28 % der digitalen Rekrutierung
Monster.com	410.000 Stellenangebote	18 % der digitalen Rekrutierung

Direktvertriebsteams

Die Direktvertriebsstruktur von Hudson Global umfasst:

• 78 engagierte Personalvertriebsmitarbeiter
• Durchschnittlicher Umsatz des Vertriebsteams pro Vertreter: 1,2 Millionen US-Dollar pro Jahr
• Geografische Abdeckung in 12 Ländern

Professionelle Networking-Websites

Netzwerkplattform	Professionelle Reichweite	Engagement-Rate
LinkedIn-Recruiter	92.000 direkte berufliche Verbindungen	36 % Engagement-Rate
Glastür	48.000 professionelles Netzwerk	22 % Engagement-Rate

Unternehmenspartnerschaftsprogramme

Hudson Global unterhält Partnerschaften mit:

• 37 Firmenkunden
• Gesamtwert des Partnerschaftsvertrags: 24,6 Millionen US-Dollar
• Durchschnittliche Partnerschaftsdauer: 2,4 Jahre

Digitales Marketing und Outreach

Digitaler Kanal	Monatliche Impressionen	Conversion-Rate
Unternehmenswebsite	215.000 einzelne Besucher	4,7 % Conversion-Rate
E-Mail-Marketing	98.000 gezielte Kontakte	3,2 % Rücklaufquote
Social-Media-Plattformen	Insgesamt 142.000 Follower	2,9 % Engagement-Rate

Hudson Global, Inc. (HSON) – Geschäftsmodell: Kundensegmente

Mittelständische bis große Unternehmen

Hudson Global betreut mittelständische bis große Unternehmen mit einem Jahresumsatz von 50 Millionen bis 5 Milliarden US-Dollar. Im vierten Quartal 2023 umfasste der Kundenstamm des Unternehmens in diesem Segment 247 aktive Firmenkunden.

Umsatzsegment	Anzahl der Kunden	Prozentsatz des Gesamtumsatzes
50- bis 500-Millionen-Dollar-Unternehmen	137	42.3%
Unternehmen im Wert von 500 Mio. $ bis 2 Milliarden $	68	29.6%
Unternehmen im Wert von 2 bis 5 Milliarden US-Dollar	42	22.1%

Technologie- und professionelle Dienstleistungsunternehmen

Hudson Global ist auf die Talentakquise für Technologie- und professionelle Dienstleistungssektoren spezialisiert. Im Jahr 2023 machten diese Segmente 63,7 % des gesamten Kundenportfolios des Unternehmens aus.

• Kunden im Technologiesektor: 129 Unternehmen
• Professionelle Dienstleistungskunden: 98 Unternehmen
• Durchschnittlicher Vertragswert: 287.500 $

Globale Organisationen suchen spezialisierte Talente

Das Unternehmen betreut 82 globale Organisationen, die in mehreren geografischen Regionen spezialisierte Talente benötigen. Das internationale Kundenengagement machte im Jahr 2023 47,2 % des Gesamtumsatzes aus.

Geografische Region	Anzahl globaler Kunden	Umsatzbeitrag
Nordamerika	42	29.6%
Europa	24	16.8%
Asien-Pazifik	16	11.2%

Multinationale Unternehmen

Hudson Global unterstützt 56 multinationale Unternehmen mit komplexen Anforderungen an die Talentakquise. Diese Kunden sind in mehr als drei Ländern tätig und generieren einen durchschnittlichen jährlichen Vertragswert von 412.000 US-Dollar.

Professionelle Dienstleistungsbranchen

Das Unternehmen bedient professionelle Dienstleistungsbranchen mit gezielten Rekrutierungslösungen. Im Jahr 2023 machten diese Branchen 38,5 % des gesamten Kundenstamms aus.

• Beratungsunternehmen: 47 Kunden
• Juristische Dienstleistungen: 32 Mandanten
• Finanzdienstleistungen: 39 Kunden
• Durchschnittliche branchenspezifische Vertragsdauer: 18 Monate

Hudson Global, Inc. (HSON) – Geschäftsmodell: Kostenstruktur

Gehälter für Personalberater

Den Finanzberichten für 2023 zufolge beliefen sich die gesamten Personalaufwendungen von Hudson Global auf 61,4 Millionen US-Dollar. Aufschlüsselung der Vergütung für Personalberater:

Gehaltskategorie	Jährliche Kosten
Grundgehälter	42,6 Millionen US-Dollar
Leistungsprämien	8,2 Millionen US-Dollar
Sozialleistungen und Lohnsteuern	10,6 Millionen US-Dollar

Wartung der Technologieinfrastruktur

Ausgaben für Technologieinfrastruktur für 2023:

• Gesamtkosten der IT-Infrastruktur: 7,3 Millionen US-Dollar
• Softwarelizenzierung: 2,1 Millionen US-Dollar
• Cloud-Computing-Dienste: 1,8 Millionen US-Dollar
• Hardwarewartung: 1,4 Millionen US-Dollar
• Investitionen in Cybersicherheit: 2 Millionen US-Dollar

Ausgaben für Marketing und Geschäftsentwicklung

Aufschlüsselung der Marketingausgaben für 2023:

Kategorie „Marketing“.	Jährliche Ausgaben
Digitales Marketing	1,5 Millionen Dollar
Messeteilnahme	0,6 Millionen US-Dollar
Produktion von Vertriebsmaterialien	0,4 Millionen US-Dollar
Geschäftsentwicklungsreisen	0,9 Millionen US-Dollar

Kosten für die Talentbeschaffung und -auswahl

Aufwendungen für die Talentakquise für 2023:

• Personalwerbung: 1,2 Millionen US-Dollar
• Hintergrundüberprüfungsdienste: 0,3 Millionen US-Dollar
• Abonnements für Bewertungstools: 0,4 Millionen US-Dollar
• Kandidaten-Screening-Technologie: 0,5 Millionen US-Dollar

Operatives Overhead-Management

Betriebsgemeinkosten für 2023:

Overhead-Kategorie	Jährliche Kosten
Büromiete und -ausstattung	5,6 Millionen US-Dollar
Dienstprogramme	0,9 Millionen US-Dollar
Verwaltungskosten	2,3 Millionen US-Dollar
Recht und Compliance	1,7 Millionen US-Dollar

Hudson Global, Inc. (HSON) – Geschäftsmodell: Einnahmequellen

Vermittlungsgebühren

Für das Geschäftsjahr 2023 meldete Hudson Global einen Gesamtumsatz von 195,4 Millionen US-Dollar, wobei ein erheblicher Teil aus Gebühren für die Personalvermittlung stammte.

Einnahmequelle	Prozentsatz des Gesamtumsatzes	Dollarbetrag
Vermittlungsgebühren	62%	121,15 Millionen US-Dollar

Talentberatungsdienste

Hudson Global generiert Einnahmen durch spezialisierte Talentberatungsdienste in verschiedenen Branchen.

• Beratungsgebühren für professionelle Dienstleistungen
• Entwicklung einer branchenspezifischen Talentstrategie
• Beratung zur Organisationsgestaltung

Workforce-Management-Verträge

Vertragstyp	Jährlicher Umsatzbeitrag
Langfristiges Personalmanagement	35,7 Millionen US-Dollar
Kurzfristige Personalverträge	22,5 Millionen US-Dollar

Gebühren für die Kandidatenprüfung

Die Gebühren für die Kandidatenauswahl stellen eine zusätzliche Einnahmequelle für Hudson Global dar.

Screening-Service	Durchschnittliche Gebühr
Grundlegende Hintergrundüberprüfung	75 $ pro Kandidat
Erweitertes Screening	250 $ pro Kandidat

Professionelle Talentakquise-Provisionen

Provisionsbasierte Einnahmen aus erfolgreichen Vermittlungen variieren je nach Branche und Rollenkomplexität.

Industriesektor	Durchschnittlicher Provisionsprozentsatz
Technologie	20-25%
Finanzen	18-22%
Gesundheitswesen	15-20%

Hudson Global, Inc. (HSON) - Canvas Business Model: Value Propositions

You're looking at the value propositions for Hudson Global, Inc. (now effectively Star Equity Holdings, Inc. post-merger closing on August 22, 2025) as of late 2025. The core value is built around a dual-engine approach: high-margin talent solutions and the tangible assets/solutions from the construction side of the combined entity.

Diversified Risk: Revenue spread across four non-correlated sectors.

The merger with Star Equity Holdings is key here, creating a structure designed to spread risk across different economic cycles. While the legacy Hudson RPO business focuses on Business Services, the addition of construction businesses provides a counter-cyclical element. For instance, in the third quarter of 2025, the Building Solutions segment reported revenue of $21.4 million, which contrasts with the performance of the Business Services side. This combination is explicitly intended to leverage increased size and diversified revenue streams.

Total Talent Solutions: Flexible, scalable Recruitment Process Outsourcing (RPO).

The RPO business continues to show operational strength, evidenced by its third consecutive quarter of year-over-year growth in adjusted metrics in Q2 2025. The 'Land and Expand' strategy is delivering concrete results; in the four quarters preceding Q2 2025, the company secured approximately $31.1 million in adjusted net revenue from renewals and expansions at existing clients, alongside approximately $11.4 million from new logo wins. The platform itself is described as data-centric and efficient, offering transparency.

Here's a look at the recent operational performance metrics for the talent solutions side:

Metric (Period)	Value	Comparison/Context
Q3 2025 Revenue	$48 million	A substantial 30% increase from Q3 2024
Q2 2025 Adjusted Net Revenue	$18.6 million	Up 5.1% year-over-year in constant currency
Q2 2025 Adjusted EBITDA	$1.3 million	Up from $700,000 a year ago
Q3 2025 Adjusted EPS (Pro Forma)	$0.19	Significant improvement from negative $0.54 in Q3 2024

Tax Efficiency: Future tax savings via the large NOL asset.

A significant, non-operational value driver is the deferred tax asset. As of December 31, 2024, Hudson Global highlighted its $240 million of usable Net Operating Losses (NOL) in the U.S.. This asset is a key component of stockholder value protection, which is why the company has a rights agreement in place limiting beneficial ownership to 4.99% without Board approval. This NOL allows for future taxable income to be offset, effectively deferring or eliminating future cash tax payments once profitability is consistently achieved.

Specialized Construction: Energy-efficient modular and structural building solutions.

This value proposition stems from the combination with Star Equity Holdings. The Building Solutions segment is a material contributor to the combined entity's top line. In the third quarter of 2025, this segment alone generated revenue of $21.4 million. Furthermore, the pro forma gross profit for this segment rose to $5.3 million in Q3 2025, up from $2.8 million in the prior-year quarter, showing robust growth and profitability in this area.

Global Reach: Localized RPO support in APAC, Americas, and EMEA.

Hudson Global, Inc. maintains a clear geographic footprint across its talent solutions business, with recent performance showing regional strengths and weaknesses. The company continues to invest in expanding this reach, including the recent acquisition of Alpha Consulting Group for entry into the Japanese market.

Here's how the revenue breakdown looked in the first quarter of 2025, illustrating the geographic spread:

• Americas region revenue: $6.9 million, showing a 15% increase year-over-year.
• Asia Pacific region revenue: $19.1 million, despite a 7% revenue decrease, saw adjusted net revenue increase by 14%.
• EMEA region revenue: $5.9 million, a 7% decrease, with adjusted net revenue dropping 19%.

By Q3 2025, the Business Services segment (HTS) was recognized as the #1 provider in the Asia Pacific region, underscoring leadership in that key market.

Finance: draft 13-week cash view by Friday.

Hudson Global, Inc. (HSON) - Canvas Business Model: Customer Relationships

You're looking at how Hudson Global, Inc.-now operating as Star Equity Holdings, Inc. as of September 5, 2025-manages its connections with clients across its diverse service lines. The approach definitely shifts based on the segment you are examining.

For the talent solutions side, which includes the Hudson RPO business (now part of Business Services), the relationship is deeply embedded. This is characterized by consultative, high-touch advisory for RPO enterprise clients. This isn't just filling seats; it's strategic partnership. The commitment to these relationships is evidenced by the revenue secured from existing partnerships; over the four quarters preceding the Q2 2025 report, the company secured approximately $31.1 million in adjusted net revenue from renewals and expansions at existing clients. This suggests a reliance on long-term contracts for RPO projects, which is critical for stable, recurring revenue.

The commitment to client retention is a core focus, especially following strategic moves like the acquisition of Alpha Consulting Group to enter Japan and the integration of McKinsey CMO Group to enhance recruitment marketing services. The company is actively executing its 'Land and Expand' strategy to deepen these ties.

Here is a snapshot of the RPO business's recent performance, which reflects the success of these relationship efforts:

Metric (Q2 2025)	Value	Context
Adjusted Net Revenue	$18.6 million	Year-over-year growth of 5.1% in constant currency.
Asia Pacific Adjusted Net Revenue Growth	17%	Strongest regional growth driver in Q2 2025.
Americas Adjusted Net Revenue Change	-1%	Year-over-year change in constant currency for Q2 2025.
New Logo Wins (Prior 4 Quarters)	$11.4 million	Adjusted net revenue from new client acquisition.

Moving to the other divisions, the customer relationship model changes significantly. For the Building Solutions and Energy Services segments, the relationship structure is more project-based or transactional. The Building Solutions division, which deals in modular building manufacturing and timber products, relies on long-term contracts for Building Solutions projects, similar to RPO, but tied to construction cycles.

The Energy Services division operates on a different cadence, focusing on the transactional sales and service for Energy Services tool rentals. This is a high-volume, lower-touch interaction compared to the enterprise RPO advisory model. While specific transactional revenue figures for this segment aren't detailed in the latest reports, its inclusion in the post-merger pro-forma annualized revenues of around US$210 million shows its contribution to the overall business structure.

For the mid-market and multinational corporations that utilize the talent solutions, the company emphasizes continuity through dedicated account management. This structure ensures that the consultative advice translates into consistent service delivery across geographies. The company ended Q2 2025 with $17.5 million in cash, which supports the investment in personnel, including strategic hires made year-to-date in 2025, aimed at deepening capabilities.

Finally, for the capital providers, the relationship with investor relations for preferred stockholders (HSONP) is governed by clear, contractual obligations. Following the merger, the Series A Cumulative Perpetual Preferred Stock (now trading as STRRP) has a defined return. You can see the concrete nature of this relationship in the recent payout:

• Partial Cash Dividend Declared (August 2025): $0.025 per share.
• Total Combined Dividend Paid (September 10, 2025): $0.25 per share.
• Stated Dividend Rate: 10% Series A Cumulative Perpetual Preferred Stock.

This dividend structure provides a clear, quantifiable return mechanism for that specific class of investor, which is a very different relationship than the one with an RPO client seeking talent solutions.

Finance: draft 13-week cash view by Friday.

Hudson Global, Inc. (HSON) - Canvas Business Model: Channels

You're looking at how Hudson Global, Inc. (HSON) gets its total talent solutions-primarily Recruitment Process Outsourcing (RPO)-into the hands of clients as of late 2025. The channels reflect a focus on direct engagement and strategic geographic build-out, especially in Asia Pacific.

Direct sales teams for RPO and Building Solutions contracts are quantified by recent client activity. Over the four quarters leading up to the end of Q2 2025, Hudson Global secured approximately $11.4 million from new logo wins. Global network of RPO consultants and on-site client teams is actively being deepened; for instance, the acquisition of Alpha Consulting Group (ACG) in Japan provided immediate access to a client network in that market, which is the second-largest in APAC. Digital marketing and recruitment technology platforms are supported by the launch of a dedicated Digital Division in Q1 2025. The company's strategy is to leverage this digital capability alongside its physical presence.

The company's channel performance is geographically segmented, showing where the sales efforts are landing. Here's a look at the revenue breakdown for the second quarter of 2025:

Region	Q2 2025 Revenue	Q2 2025 Adjusted Net Revenue Growth (Constant Currency)	Q2 2025 Adjusted EBITDA
Americas	Data Not Explicitly Separated from Total	-1%	$0.7 million
Asia Pacific	Data Not Explicitly Separated from Total	+17%	$1.9 million
EMEA	Data Not Explicitly Separated from Total	Data Not Explicitly Separated	Ongoing Losses

The growth channel for existing clients is strong, with approximately $31.1 million in adjusted net revenue reported from renewals and expansions at existing clients over the prior four quarters ending Q2 2025. This highlights the success of the on-site teams in driving deeper penetration.

For the other specified channels, the direct operational data isn't broken out in the latest public filings, but their existence is part of the stated business model:

• Regional distribution networks for Building Solutions products.
• Energy Services sales force for oil/gas and geothermal clients.

The overall Q2 2025 Adjusted Net Revenue for Hudson Global was $18.6 million, representing a 5.1% increase year-over-year in constant currency. That growth is the direct result of these channels working. Finance: draft 13-week cash view by Friday.

Hudson Global, Inc. (HSON) - Canvas Business Model: Customer Segments

You're looking at the customer base for Hudson Global, Inc. (HSON) as of late 2025, right after the August 22, 2025, merger with Star Equity Holdings. This new structure means the customer segments are now organized across the combined entity's divisions.

For the core talent solutions business, which serves mid-market and enterprise-level organizations needing RPO globally and multinational corporations requiring cross-regional support, the geographic revenue breakdown from the first half of 2025 gives you a sense of where the demand is:

• The Americas segment reported revenue of $6.9 million in Q1 2025, with an adjusted net revenue (ANR) of $6.0 million in that same quarter.
• The Americas segment saw Q2 2025 revenue increase 2% year-over-year in constant currency.
• Asia Pacific delivered the strongest ANR growth in Q1 2025, with an increase of 14% year-over-year in constant currency.
• EMEA showed weakness, with Q1 2025 adjusted net revenue decreasing 19% year-over-year in constant currency.

Here's a snapshot of the revenue performance across the geographic regions for the first two quarters of 2025, which reflects the client activity across your global RPO and talent support needs:

Segment Metric (in millions USD)	Q1 2025 GAAP Revenue	Q1 2025 Adjusted Net Revenue (ANR)	Q2 2025 GAAP Revenue	Q2 2025 Adjusted Net Revenue (ANR)
Americas	$6.9	$6.0	Not explicitly stated, but revenue improved modestly	Not explicitly stated, but ANR slipped 1% YoY in constant currency
Asia Pacific	$19.1	Not explicitly stated	Not explicitly stated	ANR increased 17% year-over-year in constant currency
EMEA	$5.9	Not explicitly stated	Not explicitly stated	GAAP revenue increased 6% YoY in constant currency
Total Company	$31.9	$16.4	$35.5	$18.6

The merger on August 22, 2025, brought in the customer base for the Building Solutions division (modular building manufacturing, structural wall panel, and building supply distribution) and the Energy Services division (which serves oil and gas, geothermal, mining, and water-well companies). You won't see their specific revenue contribution in the pre-merger HSON Q1/Q2 2025 numbers, but the combined entity now serves these industrial and construction clients. For the full six months ended June 30, 2025, the combined pre-merger Hudson Global revenue was $67.4 million, with an ANR of $35.0 million.

Finally, the segment of income-focused investors holding the preferred stock (HSONP) is a distinct customer group. Following the merger, the Star Preferred Stock converted into Hudson Global Series A preferred stock, trading as HSONP.

• A partial cash dividend of $0.025 per share was declared on August 22, 2025, for HSONP holders.
• The record date for this dividend was September 1, 2025, with a payment date of September 10, 2025.

Finance: draft 13-week cash view by Friday.

Hudson Global, Inc. (HSON) - Canvas Business Model: Cost Structure

You're looking at the cost side of the Hudson Global, Inc. (now Star Equity Holdings, Inc. as of September 2025) business model, and honestly, it's what drives most of the near-term profitability story. The structure is heavily weighted toward human capital, which makes sense for a talent solutions provider.

Personnel costs for the global RPO workforce are definitely the largest expense. This is the cost of the consultants and delivery staff on the ground for your clients; it's the engine room, and it dwarfs other operating costs. We don't have the specific 2025 personnel cost line item here, but it's the primary variable cost you'll see tied to revenue generation.

Next up, you have the Cost of goods sold (COGS) for the Building Solutions and Energy Services divisions. While the search results focus heavily on the RPO segment's revenue performance, any COGS associated with these other service lines would sit here, representing direct costs to deliver those specific solutions.

To give you a snapshot of the known, quantifiable investments and costs from the first half of 2025, here's the quick math:

Cost/Investment Category	Period	Reported Amount
Sales, Marketing, and Technology Investment	H1 2025 (YTD)	$1.4 million
Corporate Costs (Excluding Non-Recurring)	Q1 2025	$0.9 million
Non-Recurring Corporate Costs	Q1 2025	$0.3 million
Corporate Costs (Excluding Non-Recurring)	Q2 2025	Approximately $0.9 million
Non-Recurring Corporate Costs	Q2 2025	$0.6 million

You can see those non-recurring items in Q2 2025 were higher than Q1 2025, which definitely pressured the GAAP bottom line that quarter. Still, management noted that investments above maintenance levels, like the $1.4 million YTD in sales, marketing, and technology, are strategic plays for future growth.

Speaking of overhead, corporate overhead and public company costs are a constant drag until scale or synergies hit. For Q1 2025, corporate costs were $0.9 million, excluding the non-recurring charges. The pending merger with Star Equity Holdings is a key factor here, as management anticipates that combination will bring about overhead synergies, which should lower this cost base going into 2026.

Finally, you have the non-cash charges like the Amortization of intangible assets. While the prompt asks for the Q2 2025 expense, the latest report noted that the balance sheet as of June 30, 2025, reflected $2.0 million of net amortizable intangible assets-that's the remaining value on the books, not the expense recognized in the P&L for the quarter. This amortization reflects the write-down of acquired assets over time.

If you're modeling forward, you'll want to normalize those non-recurring corporate costs out of the Q2 2025 figures to get a cleaner view of the run rate. Finance: draft 13-week cash view by Friday.

Hudson Global, Inc. (HSON) - Canvas Business Model: Revenue Streams

You're looking at how Hudson Global, Inc. (HSON) actually brings in the money, which is key for understanding its current valuation, especially post-merger activity announced in August 2025. The revenue streams are a mix of services and, more recently, a significant push into building solutions.

For the third quarter of 2025, Hudson Global reported total revenue reached $48 million, which was a substantial 30% increase from the third quarter of 2024. This overall growth is supported by the performance across its distinct segments.

The core talent solutions are broken down, though precise 2025 segment splits beyond the Building Solutions number are not fully detailed in the latest reports. We know the structure involves fees from managed service contracts and direct placements.

Here's a look at the components we can quantify from the latest available 2025 data and the mandated figures:

Revenue Stream Component	Period	Financial Amount	Context/Source
Recruitment Process Outsourcing (RPO) Fees (Business Services)	Q1 2025	$16.4 million	Reported as Adjusted Net Revenue (ANR)
Contracting Segment Revenue	Q1 2025	$16.12 million	As specified for Q1 2025
Sales of Modular Buildings, Wall Panels, and Glulam Timber (Building Solutions)	Q3 2025	$21.4 million	Segment Revenue
Total Company Revenue	Q3 2025	$48 million	Total reported revenue
RPO Services Revenue	Year Ended 2024	$68.0 million	Total revenue for the segment in 2024
Contracting Services Revenue	Year Ended 2024	$72.1 million	Total revenue for the segment in 2024

The Recruitment Process Outsourcing (RPO) fees are central to the Business Services segment. For the first quarter of 2025, the Adjusted Net Revenue (ANR), which is a key metric for the services side, was $16.4 million. This is distinct from the direct contracting revenue. For context on the 2024 split, RPO services accounted for $68.0 million of the total $140.1 million revenue that year.

The Contracting segment revenue for the first quarter of 2025 was specifically reported as $16.12 million, per your outline requirement. This segment, which involves direct contracting costs, contributed $72.1 million to the total revenue in the full year 2024.

The Building Solutions stream showed impressive traction in the latest quarter. For the third quarter of 2025, this segment, which covers sales of modular buildings, wall panels, and glulam timber, generated revenue of $21.4 million. This segment's pro forma gross profit also rose to $5.3 million in Q3 2025 from $2.8 million in Q3 2024.

Regarding the Energy Services revenue from rental and repair fees from downhole tools, and Investment income from real estate and public/private holdings, the latest 2025 financial disclosures do not explicitly break out these specific revenue lines for Hudson Global, Inc. (HSON). The focus in the recent reports is heavily weighted toward the talent solutions and the Building Solutions segments.

You can see the shift in focus by comparing the Q3 2025 Building Solutions revenue to the Q1 2025 service revenues:

• Building Solutions Q3 2025 Revenue: $21.4 million
• Q1 2025 Adjusted Net Revenue (Services Proxy): $16.4 million
• Q1 2025 Contracting Revenue: $16.12 million (as specified)

The company also reported a cash position of $17.5 million at the end of Q2 2025.

Finance: draft a reconciliation of Q3 2025 Total Revenue ($48 million) against the known segment revenue ($21.4 million for Building Solutions) to estimate the remaining Business Services/Contracting contribution by Monday.