MHH on NYSE

Mastech Digital

Information technology staffing and digital transformation company

Mastech Digital, Inc. is a digital transformation and information technology (IT) services company headquartered in Pittsburgh, Pennsylvania, providing services to corporations across North America, Middle East, Asian, and Japan.3 It was founded by Ashok Trivedi.1 Its shares trade on NYSE under the symbol MHH.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

1986Founded1

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  • TickerMHH on NYSE1
  • IndustryServices-Management Consulting Services1
  • HeadquartersMoon Township, United States1
  • Incorporated inPA5
  • Business address1305 Cherrington Parkway, Building 210, Suite 400, Moon Township, Pa 151085
  • Filer categoryNon-accelerated filer, Smaller reporting company5
  • Legal formBusiness Corporation4
  • LEI549300GD5HFB0F4510064
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressBuilding 210, 15108 Moon Township, United States4
  • Registered withPennsylvania Department of State, 38155024

Mastech Digital, Inc. is a digital transformation and information technology (IT) services company headquartered in Pittsburgh, Pennsylvania, providing services to corporations across North America, Middle East, Asian, and Japan.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

27.7%Gross margin8
0.0%Operating margin8
0.3%Net margin8
-3.8%Revenue growth, 20258
0.7%Return on equity8
$10.8MFree cash flow8

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

IT staffing services brought in 83% of the revenue Mastech Digital broke down this way in fiscal 2025.

  1. IT staffing services$158.1M883%down 3% from 2024
  2. Data and analytics services$33.3M817%down 9% from 2024
Business segments by year
Business segments202320242025
IT staffing services$166.7M$162.3M$158.1M
Data and analytics services$34.4M$36.6M$33.3M

Regions

United States brought in 99% of the revenue Mastech Digital broke down this way in fiscal 2025.

  1. United States$189.3M899%down 3% from 2024
  2. India and other$1.5M81%down 38% from 2024
  3. CA [member]$556.0K80%down 47% from 2024
Regions by year
Regions202320242025
United States$197.2M$195.5M$189.3M
India and other$1.4M$2.4M$1.5M
CA [member]$2.5M$1.0M$556.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue72¢$138.3M
  • Selling, general and admin28¢$53.1M
  • Income tax0¢$453.0K
  • Profit0¢$609.0K

Out of $191.4M in revenue.8

Where each dollar of operating cash went, fiscal 2025

  • Capital spending3¢$376.0K
  • Kept or used elsewhere97¢$10.8M

Out of $11.1M of cash from operations.8

Financial statements

Revenue91011128$191.4M in 2025−1% since 2019
0$100.0M$200.0M$300.0M2019: $193.6M$193.6M20192020: $222.0M$222.0M2020+15%2021: $222.0M$222.0M2021+0%2022: $242.2M$242.2M2022+9%2023: $201.1M$201.1M2023−17%2024: $198.9M$198.9M2024−1%2025: $191.4M$191.4M2025−4%
Gross profit91110128$53.1M in 2025+11% since 2019
0$20.0M$40.0M$60.0M$80.0M2019: $48.0M$48.0M20192020: $51.5M$51.5M2020+7%2021: $59.4M$59.4M2021+15%2022: $63.2M$63.2M2022+6%2023: $51.0M$51.0M2023−19%2024: $55.6M$55.6M2024+9%2025: $53.1M$53.1M2025−5%
Operating income91110128$1.0K in 2025−100% since 2019
-$10.0M0$10.0M$20.0M2019: $17.0M$17.0M20192020: $13.4M$13.4M2020−21%2021: $17.6M$17.6M2021+31%2022: $12.2M$12.2M2022−31%2023: -$9.3M-$9.3M20232024: $3.8M$3.8M20242025: $1.0K$1.0K2025−100%
Net income91110128$609.0K in 2025−95% since 2019
-$10.0M-$5.0M0$5.0M$10.0M$15.0M2019: $11.1M$11.1M20192020: $9.9M$9.9M2020−12%2021: $12.2M$12.2M2021+24%2022: $8.7M$8.7M2022−29%2023: -$7.1M-$7.1M20232024: $3.4M$3.4M20242025: $609.0K$609.0K2025−82%

Every line of the income statement as filed: the last 3 fiscal years, latest first.8

Period ending2025-12-312024-12-312023-12-31
Revenues$191.4M$198.9M$201.1M
Cost of revenues$138.3M$143.3M$150.1M
Gross profit$53.1M$55.6M$51.0M
Operating expenses$53.1M$51.8M$51.9M
Impairment of goodwill$0$0$5.3M
Employment-related claim, net of recoveries$0$0$3.1M
Total selling, general and administrative expenses$53.1M$51.8M$60.3M
Income (loss) from operations$1.0K$3.8M-$9.3M
Interest income (expense), net$844.0K$606.0K$319.0K
Other income (expense), net$217.0K$27.0K-$75.0K
Income (loss) before income taxes$1.1M$4.4M-$9.0M
Income tax expense (benefit)$453.0K$1.0M-$1.9M
Net income (loss)$609.0K$3.4M-$7.1M
Basic$0.05$0.29-$0.61
Diluted$0.05$0.28-$0.61
Basic11.7M shares11.7M shares11.6M shares
Diluted11.9M shares12.0M shares11.6M shares

Compare Mastech Digital with another company

Corporate structure

Mastech Digital sits at the top of its group. 9 entities, 4 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Mastech Digital

  • CAPITAL MANAGEMENT CORP /VA Filed SCHEDULE 13G/A on Mastech Digital, latest Jan 30, 2026 (4 filings since Jan 26, 2024)
  • Sunil Wadhwani Filed SC 13G/A on Mastech Digital, latest Feb 9, 2023
  • Manoj P. Singh Filed SC 13D/A on Mastech Digital, latest Feb 8, 2023 (2 filings since Dec 27, 2022)
  • Mastech Digital Moon Township, Pennsylvania, United States
    • Mastech Digital Data, Inc. Subsidiary · Delaware, United States
    • Mastech Digital India Pvt, Ltd. Subsidiary · India
    • Mastech Digital Infotech Pvt, Ltd. Subsidiary · India
    • Mastech Digital Pvt, Ltd. Subsidiary · India
    • Mastech Digital Resourcing, Inc. Subsidiary · Pennsylvania, United States
    • Mastech Digital Technologies, Inc. Subsidiary · Pennsylvania, United States
    • Mastech InfoTrellis Digital, Ltd. Subsidiary · Canada
    • Mastech InfoTrellis Limited Subsidiary · Ireland

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Mastech Digital reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Machinery and equipment$3.8M8 Dec 31, 2025$3.7M8 Dec 31, 2024+4.0%
Computer equipment and software$4.2M8 Dec 31, 2025$4.2M8 Dec 31, 20240%
Leasehold improvements$738.0K8 Dec 31, 2025$742.0K8 Dec 31, 2024−0.5%
Property and equipment, before depreciation$8.7M8 Dec 31, 2025$8.6M8 Dec 31, 2024+1.7%
Accumulated depreciation$7.2M8 Dec 31, 2025$6.6M8 Dec 31, 2024+8.8%
Property and equipment, net$1.6M8 Dec 31, 2025$2.0M8 Dec 31, 2024−22.1%
Operating-lease assets (leased space)$2.5M8 Dec 31, 2025$3.8M8 Dec 31, 2024−33.9%

Real estate and locations

ItemLatestA year beforeChange
Area of land94,000 sq ft8 Dec 31, 202593,000 sq ft12 Dec 31, 2024+1.1%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$36.5M8 Dec 31, 2025$27.7M8 Dec 31, 2024+31.7%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$27.2M8 Dec 31, 2025$27.2M8 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$7.8M8 Dec 31, 2025$10.3M8 Dec 31, 2024−24.8%
Accumulated amortization$25.3M8 Dec 31, 2025$22.8M8 Dec 31, 2024+11.2%

Properties, in its own words

Information regarding the principal properties leased by us and our subsidiaries as of December 31, 2025 is set forth below:

Location · Principal Use · Occupying BusinessSegment · ApproximateSquareFootage

The rest of Item 2

Moon Township, Pennsylvania · Corporate headquarters, executive, human resources, sales, recruiting, marketing and finance · IT Staffing · 11,500

Chicago, Illinois · Executive, sales and recruiting · IT Staffing · 2,300

Toronto, Canada · Human resources, sales, marketing and delivery · Data and Analytics · 3,800

NOIDA, India · Sales and recruiting office · IT Staffing · 39,900

Chennai, India · Sales and delivery center · Data and Analytics · 35,400

Item 2 of the 10-K filed Mar 18, 2026.16

The story

Founded by Ashok Trivedi in 1986.1

Mastech Digital, Inc. was founded in Pittsburgh, PA in 1986, and was originally known as Mastech Holdings, Inc. The company became listed on Nasdaq in 1996.

In 2000, the company’s name was changed to iGate Capital Corporation, and was split into nine separate business units. Mastech Holdings, Inc., which became one of the units, was spun off as a separately-listed company in 2008, with revenue close to US$100 million.

In May 2015, Mastech Holdings, Inc. announced its plan to acquire the US IT staffing business of Hudson Global Inc. The deal was finalized in June of the same year, and valued at US$17 million.

Mastech Holdings, Inc. changed its name to Mastech Digital, Inc. in September 2016. The company stated its name change was “part of its re-branding initiative to reinforce the message that it is fully committed to the world of “digital” – which includes social, mobility, analytics, and cloud; automation; and Internet of Things technologies."

On July 7, 2017 Mastech entered into an agreement to acquire InfoTrellis, Inc., a Canada-based information management consulting and technology services company that provides project and consulting services in master data management, data integration, and big data. The deal was finalized on July 13 and valued at USD $55 million. The acquired entity was renamed as Mastech InfoTrellis, as a business unit under Mastech Digital.

On June 2, 2020, Mastech launched its remote staffing service offering, called MAS-REMOTE. Through this service, Mastech helps its customers hire top 10% US based IT remote consultants, backed by a comprehensive screening and on-boarding process.

On October 1, 2020, Mastech entered into an agreement to acquire AmberLeaf Partners, Inc., a Chicago-based customer experience consulting company. The acquired entity is affiliated with Mastech InfoTrellis valued at US$14 million. The combined businesses will provide customers with an expanded suite of service offerings, delivery capabilities, and human capital across North America, EMEA, India and ASEAN countries.

From Wikipedia’s article on Mastech Digital, shared under CC BY-SA 4.0.6

Leadership

Who has led Mastech Digital, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (22)

Products and brands

Mastech Digital has offices in Pittsburgh, PA, Boston, MA, Tampa, FL, Lake Mary, FL, Dallas, TX, CA, Chicago, IL, Toronto, UK, Canada, Noida, India, and Chennai, India.

From Wikipedia’s article on Mastech Digital, shared under CC BY-SA 4.0.6

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Mastech Digital Data, Inc. Delaware7
  • Mastech Digital India Pvt, Ltd. India7
  • Mastech Digital Infotech Pvt, Ltd. India7
  • Mastech Digital Pvt, Ltd. India7
  • Mastech Digital Resourcing, Inc. Pennsylvania7
  • Mastech Digital Technologies, Inc. Pennsylvania7
  • Mastech InfoTrellis Digital, Ltd. Canada7
  • Mastech InfoTrellis Limited Ireland7
  • Mastech InfoTrellis, Ltd. England & Wales7

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • Mastech Holdings, Inc.Jun 11, 2008 to Aug 12, 20165

Timeline

  1. Aug 14, 20268-K Executive or director change43
  2. Aug 6, 20268-K Results of operations; Executive or director change; Bylaws or fiscal year changed44
  3. May 18, 20268-K Executive or director change; Shareholder vote45
  4. May 15, 20268-K Results of operations46
  5. Apr 8, 20268-K Executive or director change47
  6. Apr 3, 20268-K Executive or director change48
  7. Mar 11, 20268-K Entered a material agreement49
  8. Feb 19, 20268-K Results of operations; Other events50
  9. Dec 10, 20258-K Change of auditor51
  10. Nov 12, 20258-K Results of operations52
  11. Aug 13, 20258-K Results of operations53
  12. May 19, 20258-K Executive or director change; Shareholder vote54
  13. Jan 8, 2025New chief executive Nirav Patel becomes CEO17
  14. Oct 19, 2011New chief executive D. Kevin Horner becomes CEO18
  15. Jul 22, 2009New chief executive Thomas B. Moran becomes CEO19
  16. Sep 26, 2008New chief executive Steven Shangold becomes CEO20
  17. 1986Founded Founded1

Calendar

Coming up

  1. Oct 30, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported $0.25 a share, on Nov 12, 2025.55

When it reported results

  1. Aug 6, 2026Reported quarterly or annual results44
  2. May 15, 2026Reported quarterly or annual results46
  3. Feb 19, 2026Reported quarterly or annual results50
  4. Nov 12, 2025Reported quarterly or annual results52
  5. Aug 13, 2025Reported quarterly or annual results53
  6. May 16, 2025Reported quarterly or annual results56
  7. Feb 19, 2025Reported quarterly or annual results57
  8. Nov 6, 2024Reported quarterly or annual results58

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

143 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 47 major events, 49 insider forms, 7 large holders, 20 other. The latest 20:

  1. Aug 24, 20264 EDGAR
  2. Aug 14, 20268-K EDGAR
  3. Aug 12, 20264 EDGAR
  4. Aug 6, 202610-Q EDGAR
  5. Aug 6, 20268-K EDGAR
  6. May 18, 20268-K EDGAR
  7. May 15, 202610-Q EDGAR
  8. May 15, 20268-K EDGAR
  9. Apr 27, 20264 EDGAR
  10. Apr 16, 20264 EDGAR
  11. Apr 13, 20264 EDGAR
  12. Apr 9, 2026ARS EDGAR
  13. Apr 9, 2026DEF 14A EDGAR
  14. Apr 8, 20264 EDGAR
  15. Apr 8, 20263 EDGAR
  16. Apr 8, 20268-K/A EDGAR
  17. Apr 3, 20268-K EDGAR
  18. Mar 18, 202610-K EDGAR
  19. Mar 18, 202611-K EDGAR
  20. Mar 11, 20268-K EDGAR

The 143 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

20 open-market trades by officers, directors and large owners since October 2021: 18 buys and 2 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 21, 2026SHAW STEVEN A10% ownerBuy5,000$7.47$37.4KForm 4
Apr 27, 2026SHAW STEVEN A10% ownerBuy1,000$7.04$7.0KForm 4
Apr 15, 2026SHAW STEVEN A10% ownerBuy3,000$6.84$20.5KForm 4
Apr 10, 2026SHAW STEVEN A10% ownerBuy2,000$6.19$12.4KForm 4
Apr 9, 2026SHAW STEVEN A10% ownerBuy4,000$6.05$24.2KForm 4
Mar 2, 2026SHAW STEVEN A10% ownerBuy1,242$6.24$7.8KForm 4
Feb 27, 2026SHAW STEVEN A10% ownerBuy3,800$5.94$22.6KForm 4
Jan 30, 2026SHAW STEVEN A10% ownerBuy400$7.08$2.8KForm 4
Jan 30, 2026SHAW STEVEN A10% ownerBuy400$7.08$2.8KForm 4
Jan 29, 2026SHAW STEVEN A10% ownerBuy4,480$6.96$31.2KForm 4
Jan 29, 2026SHAW STEVEN A10% ownerBuy4,480$6.96$31.2KForm 4
Dec 10, 2025SHAW STEVEN A10% ownerBuy1,315$7.47$9.8KForm 4
Dec 9, 2025SHAW STEVEN A10% ownerBuy2,758$7.11$19.6KForm 4
Sep 19, 2025SHAW STEVEN A10% ownerBuy4,537$7.76$35.2KForm 4
Aug 29, 2025SHAW STEVEN A10% ownerBuy3,500$8.00$28.0KForm 4
Aug 21, 2025SHAW STEVEN A10% ownerBuy4,800$7.78$37.3KForm 4
Jul 16, 2025SHAW STEVEN A10% ownerBuy800$7.93$6.3KForm 4
Jul 15, 2025SHAW STEVEN A10% ownerBuy3,068$7.90$24.2KForm 4
Dec 16, 2022WADHWANI SUNILDirectorSale991,000$13.95$13.8MForm 4
Dec 16, 2022WADHWANI SUNILDirectorSale991,000Form 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Nirav Patel$1.0M$8.8M62
2025Vivek Gupta$101.2K$970.6K62
2025Kannan Sugantharaman$185.0K$869.7K62
2025John J. CroninJr.$190.4K$724.7K62
2024Former President and Chief$585.0K$992.8K62
2024Chief Financial Officer and$450.0K$716.1K62
2023Executive Officer$585.0K$665.8K62
2023Corporate Secretary$450.0K62

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 33. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Capital Management Corp /va1,008,230$7.8M1.2%+51,336
Dimensional Fund Advisors LP203,037$1.6M0.0%−9,021
Envestnet Asset Management Inc175,835$1.4M0.0%+12,807
Vanguard Capital Management LLC149,494$1.2M0.0%+2,980
BlackRock, Inc.108,642$839.8K0.0%−377
Renaissance Technologies LLC94,027$726.8K0.0%−8,400
Indivisible Partners89,118$688.9K0.0%+5,190
Advyzon Investment Management, LLC86,698$670.2K0.0%+5,160
Unique Wealth Strategies, LLC77,298$597.5K0.2%+10,000
Geode Capital Management, LLC51,721$399.9K0.0%+5,459
Bridgeway Capital Management, LLC46,039$355.9K0.0%−1,102
NewEdge Advisors, LLC29,695$229.5K0.0%+17,569
Vanguard Fiduciary Trust Co27,163$210.0K0.0%+189
State Street Corp19,784$152.9K0.0%No change
Cetera Investment Advisers18,215$140.8K0.0%+1,566
Northern Trust Corp16,632$128.6K0.0%−11,646
James Investment Research, Inc.12,126$93.7K0.0%No change
RBF Capital, LLC11,834$91.5K0.0%No change
&partners11,089$85.7K0.0%+183
Barclays PLC5,545$42.9K0.0%+25
UBS Group AG4,326$33.4K0.0%+3,424
LOM Asset Management Ltd4,000$30.9K0.0%New
Morgan Stanley1,812$14.0K0.0%+142
Institute for Wealth Management, LLC.1,800$13.9K0.0%New
Osaic Holdings, Inc.1,600$12.4K0.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Mastech Digital is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARMastech Digital, Inc.2
  • CIK0001437226
  • Employer ID (EIN)26-275354016
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company16
  • Incorporated inPennsylvania16
  • Fiscal year endsDecember 312
  • Industry code (SIC)8742 Services-Management Consulting Services2
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance2
  • Business address1305 Cherrington Parkway, Building 210, Suite 400, Moon Township, PA 151082
  • Phone412-787-21002
  • Shares outstanding12,012,581 as of Jul 31, 202614
  • Public float$24.9M as of Jun 30, 202416
  • AuditorUHY LLP, Farmington Hills, Michigan PCAOB ID 1195; no auditor attestation of internal control over financial reporting16
  • On EDGAR sinceJun 11, 20082
  • Filings586 in all: 4 (197), 8-K (152), 10-Q (54), 3 (29), SC 13G/A (20), 10-K (18), DEF 14A (18), UPLOAD (11)2
    All 29 form types

    5 (10), 4/A (8), CORRESP (8), SC 13G (8), 11-K (7), S-8 (7), 8-K/A (6), ARS (6), 10-12B/A (4), SC 13D (4), SC 13D/A (4), SC TO-I/A (3), SCHEDULE 13G/A (3), S-3/A (2), 10-12B (1), CERTAMX (1), EFFECT (1), NT 11-K (1), S-3 (1), SC TO-I (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Mar 18, 2026
    Quarterly report (10-Q) Aug 6, 2026
    Proxy statement (DEF 14A) Apr 9, 2026
    Latest 8-K (8-K) Aug 14, 2026

Securities registered for trading

ClassSymbolExchange
Common StockMHHNYSE American

From the cover page of the 10-K filed Mar 18, 2026 (Section 12(b) of the Exchange Act).16

Risk factors and legal proceedings

The risks Mastech Digital names in Item 1A of its 10-K filed Mar 18, 2026: 45 risks under these headings, as written.16

  • If any of the following risks and uncertainties develop into actual events, these events could have a material adverse effect on our business, financial condition or results of operations.
  • Risks Related to the Company’s Business and Operation
  • Lack of success in recruitment and retention of IT and data and analytics professionals may decrease our revenues, impair our ability to service clients and pursue opportunities in the market and increase the costs needed to maintain our workforce.
  • We may have difficulty maintaining client relationships if the trend towards utilizing Managed Service Providers (“MSPs”) or setting up Global Capability Centers (GCC's) continues.
  • We are dependent upon our Indian operations and there can be no assurance that our Indian operations will support our growth strategy and historical cost structure.
  • Our quarterly operating results may be subject to significant variations.
  • Our multi-year Center of Excellence service offering may be early terminated on short notice from the client, which could materially and adversely affect our business, backlog and future revenues.
  • Our strategy of expansion through the acquisition of additional companies may not be successful and may result in slower growth of our business and reduced operating margins.
  • We may in the future complete, acquisitions that could require significant management attention, disrupt our existing business, result in dilution to our shareholders, deplete our cash reserves, increase our debt levels and adversely affect our financial results.
  • Our revenues are highly concentrated, and the loss of a significant client would adversely affect our business and revenues.
  • Our leverage could materially and adversely affect our financial condition or operating flexibility and prevent us from fulfilling our obligations under our Credit Agreement.
  • The covenants in our Credit Agreement impose restrictions that may limit our operating and financial flexibility.
The other 34 risks
  • We must keep pace with the rapid technological changes that characterize the IT and data and analytics industries and our failure to do so could result in lower demand for services.
  • Our Client’s “preferred vendor” contracts generally result in lower margins. In addition, we may not be able to maintain “preferred vendor” status with existing clients or obtain that status with new clients, which may lead to a decrease in the volume of business we obtain from these clients.
  • Our success depends upon the maintenance and protection of our intellectual property rights and processes, and any substantial costs incurred protecting such rights and processes may decrease our operating margins.
  • Existing and potential customers may consider outsourcing their IT requirements to foreign countries, which could have an adverse effect on our ability to obtain new customers or retain existing customers.
  • We may be subject to liability to clients arising from our engagements.
  • We may face data protection, data security, and privacy risks in connection with privacy regulation.
  • Security breaches and other disruptions could compromise our information and expose us to liability, which would cause our business and reputation to suffer.
  • We depend on the proper functioning of our information systems.
  • If our clients are subjected to cyber-attacks or data security breaches, it may result in damage to our business and the disclosure of our confidential information.
  • If our insurance costs increase significantly, these incremental costs could negatively affect our financial results.
  • We may not have adequate insurance for potential liabilities, including liabilities arising from litigation.
  • Our inability to successfully recover should we experience a disaster or other business continuity problem could cause material financial loss, loss of human capital, regulatory actions, reputational harm or legal liability.
  • Risks posed by climate change may materially increase our compliance costs and adversely impact our profitability.
  • Our success depends upon retaining the services of our management team and key operating employees.
  • Issues relating to our use of artificial intelligence and machine learning technologies, combined with an uncertain legal and regulatory environment, could materially and adversely affect our business, financial condition and results of operations.
  • Risks Related to Governmental Regulations, Laws and Taxation
  • Government regulation of H1-B visas may materially affect our workforce and limit our supply of qualified IT professionals, or increase our cost of securing workers.
  • Reclassification of our independent contractors by tax or regulatory authorities could have a material adverse effect on our business model and/or could require us to pay significant retroactive wages, taxes and penalties.
  • Restrictions on immigration or unjustified or discriminatory enforcement of immigration laws could increase our cost of doing business, cause us to change the way we conduct our business or otherwise disrupt our operations.
  • U.S. federal policy changes may adversely affect our business.
  • Adverse results in tax audits or interpretations of tax laws could have an adverse impact on our business.
  • Requirements of the Affordable Care Act may continue to increase our employee benefits costs and could negatively affect our operating results, cash flows and financial condition if such costs aren’t recovered with increases in client bill rates.
  • Issues in the development and use of artificial intelligence, combined with an uncertain regulatory environment, may result in reputational harm, liability, or other adverse consequences to our business operations.
  • Pandemics, epidemics or other outbreaks of diseases have had and may in the future have a material adverse impact upon our business, liquidity, results of operations and financial condition.
  • Climate change, extreme weather and risks arising from the transition to a lower-carbon economy may impact our business.
  • Risks Related to Economic and Financial Conditions
  • We make estimates and assumptions in connection with the preparation of our consolidated financial statements and any changes to those estimates and assumptions could adversely affect our financial results.
  • Negative or uncertain economic conditions in North America or elsewhere may adversely affect demand for our services.
  • Our industries are highly competitive and fragmented, which may limit our ability to increase our prices for services.
  • Regional conflicts in South Asia could adversely affect the Indian economy, disrupt our operations and cause our business to suffer.
  • Wage costs in India may increase, which may reduce our operating margins and reduce a competitive advantage of ours.
  • Our use of artificial intelligence ("AI") technologies may not be successful and may present business, financial, legal and reputational risk.
  • Risks Related to Our Stock
  • The price of our common stock may fluctuate substantially, and your investment may decline in value.
  • Evolving expectations around corporate responsibility practices, specifically related to environmental, social and governance (“ESG”) matters, may expose us to reputational and other risks.
  • Our ownership is highly concentrated in two individuals and the interests of those individual shareholders may not coincide with yours.
  • Our results of operations and share price could be adversely affected if we are unable to maintain effective internal controls.

Legal proceedings

In the ordinary course of our business, we are involved in a number of lawsuits and administrative proceedings. While uncertainties are inherent in the final outcome of these matters, management believes, after consultation with legal counsel, that the disposition of these proceedings should not have a material adverse effect on our financial position, results of operations or cash flows.

The opening of Item 3, Legal Proceedings.16

Sources

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