For the quarter ended March 31, Star Equity Holdings reported revenue of $50.1 million, a 57.1% increase year-over-year, and gross profit of $20.6 million, up 25.4%. Net loss attributable to shareholders was $4.4 million, or $1.17 per diluted share, with an adjusted EBITDA loss of $1.6 million. The company realized $2.6 million in merger synergies and ended the quarter with $10.3 million in cash.

Building Solutions generated revenue of $11.6 million with a gross profit of $1.6 million and backlog of $8.0 million at a 0.72 book-to-bill ratio, reflecting delays in contract awards. Business Services revenue grew to $35.0 million, gross profit increased to $17.4 million while adjusted EBITDA loss was $0.3 million. Energy Services delivered $3.5 million in revenue, $1.5 million gross profit, and a positive adjusted EBITDA of $1.0 million.

Star’s leadership highlighted operational and cost improvements, including expanded AI deployment in Hudson Talent Solutions to boost recruiter productivity and candidate matching. Management reaffirmed focus on disciplined execution, prudent capital allocation and evaluating M&A opportunities, expecting improved results as macro conditions stabilize and new projects ramp up.