Revenue at CV-Online Latvia rose by 35.2% year on year (y-o-y) to €7.2 million ($7.8 million U.S.) in 2022, according to a report from website StaffingIndustry.com that cited data from Firmas.lv, a corporate database in Latvia.
The company’s profit rose by 79.9% y-o-y to €1.9 million ($2.0 million U.S.).
CV-Online Latvia’s management attributed the rise in revenue to strong domestic economic growth in the first half of 2022, particularly the low unemployment rate, which spurred demand for its services.
However, the company faced challenges in the second half of the year due to the significant economic impact of neighboring Russia’s invasion of Ukraine and subsequent economic sanctions imposed by the EU.
Despite these difficulties, CV-Online Latvia continued to invest in new technologies and services, StaffingIndustry noted.
CV-Online Latvia is a leading recruitment site in Latvia. It saw 553,464 visits in April, according to SimilarWeb.com.