Star Equity completes merger, pivots from RPO to diversified holding company

Filed March 20, 2026 · Period ending December 31, 2025 · Compared to 10-K Mar 14, 2025 · ~2 min read

Key Changes

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  Hudson Global merged with Star Operating Companies on August 22, 2025, transforming from a single-segment talent solutions provider into a four-segment holding company. Former SOC stockholders received 744,291 common shares and 2.7 million preferred shares; company renamed Star Equity Holdings.

  Business: Merger and Corporate Transformation verify on EDGAR →
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  New segments added: Building Solutions ($27.6M revenue, modular construction/engineered wood), Energy Services ($4.9M revenue, oil/gas drilling tools), and Investments (real estate/equity holdings). Legacy RPO business now 81% of revenue versus 100% prior year.

  Business: New Business Segments verify on EDGAR →
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  Net loss widened to $6.7M ($2.08/share) from $4.8M ($1.59/share), including $740K in new preferred dividends. Operating cash flow deteriorated to negative $7.3M from negative $2.8M despite 23% revenue growth, driven by integration costs and lower profitability.

  MD&A: Financial Performance verify on EDGAR →