Staffing 360 Solutions Reports Net Loss of $17 Million for Fiscal Year 2022

Staffing 360 Solutions, Inc.(STAF), a leading global staffing services p rovider, has announced its financial results for the fiscal year ended December 31, 2022. The company reported a net loss of $16.9 million for the year, along with a significant increase in revenue, reaching $244.9 million. Despite the net loss, the company's revenue growth demonstrates its ability to capture market share and expand its operations.

Consolidated Balance Sheets

The company's consolidated balance sheets highlight its financial position as of December 31, 2022, and January 1, 2022. The total assets for the year-end amounted to $81.7 million, showing a growth of $8 million compared to the previous year. Current assets, including cash, accounts receivable, and prepaid expenses, totaled $27.4 million, reflecting the company's liquidity and ability to cover short-term obligations. Additionally, the company's long-term assets, such as property and equipment, goodwill, and intangible assets, stood at $44.5 million.

Consolidated Statements of Operations