Creative Realities Reports Fiscal 2025 Second Quarter Results
Creative Realities (NASDAQ: CREX), a digital signage and AdTech solutions provider, reported Q2 2025 financial results with revenue of $13.0 million, slightly down from $13.1 million in Q2 2024. The company saw hardware revenue increase to $7.1 million from $5.0 million, while service revenue decreased to $6.0 million from $8.1 million.
Key metrics include gross profit of $5.0 million (down from $6.8 million), Adjusted EBITDA of $1.2 million (versus $1.5 million), and Annual Recurring Revenue (ARR) growth to $18.1 million. The company reported a net loss of $1.8 million or $(0.17) per share. Despite challenges, management expects stronger performance in H2 2025, with revenue growth acceleration and expanding gross margins anticipated.
Creative Realities (NASDAQ: CREX), fornitore di soluzioni per digital signage e AdTech, ha comunicato i risultati finanziari del secondo trimestre 2025 con ricavi per $13.0 milioni, in lieve calo rispetto a $13.1 milioni nel Q2 2024. L'azienda ha registrato un aumento dei ricavi hardware a $7.1 milioni dai $5.0 milioni, mentre i ricavi da servizi sono diminuiti a $6.0 milioni da $8.1 milioni.
Le metriche chiave includono un utile lordo di $5.0 milioni (in calo da $6.8 milioni), un EBITDA rettificato di $1.2 milioni (contro $1.5 milioni) e la crescita dei Ricavi Ricorrenti Annuali (ARR) a $18.1 milioni. La società ha riportato una perdita netta di $1.8 milioni, ovvero $(0.17) per azione. Nonostante le difficoltà, la direzione prevede performance più solide nel secondo semestre 2025, con un'accelerazione della crescita dei ricavi e un'espansione attesa dei margini lordi.
Creative Realities (NASDAQ: CREX), proveedor de soluciones de señalización digital y AdTech, publicó los resultados financieros del segundo trimestre de 2025 con ingresos de $13.0 millones, ligeramente por debajo de $13.1 millones en el Q2 2024. La compañía registró un aumento de los ingresos por hardware a $7.1 millones desde $5.0 millones, mientras que los ingresos por servicios cayeron a $6.0 millones desde $8.1 millones.
Las métricas clave incluyen un beneficio bruto de $5.0 millones (frente a $6.8 millones), un EBITDA ajustado de $1.2 millones (vs. $1.5 millones) y un incremento de los Ingresos Recurrentes Anuales (ARR) a $18.1 millones. La compañía reportó una pérdida neta de $1.8 millones, o $(0.17) por acción. A pesar de los desafíos, la dirección espera un mejor desempeño en la segunda mitad de 2025, con aceleración del crecimiento de ingresos y una ampliación prevista de los márgenes brutos.
Creative Realities (NASDAQ: CREX)는 디지털 사이니지 및 애드테크 솔루션 제공업체로 2025년 2분기 실적을 발표했습니다. 매출은 $13.0 million으로 2024년 2분기의 $13.1 million보다 소폭 감소했습니다. 회사는 하드웨어 매출이 $5.0 million에서 $7.1 million로 증가한 반면, 서비스 매출은 $8.1 million에서 $6.0 million로 감소했습니다.
주요 지표로는 매출총이익 $5.0 million(전년 $6.8 million 대비 감소), 조정 EBITDA $1.2 million(기준 $1.5 million) 및 연간 반복 매출(ARR)이 $18.1 million로 증가한 점이 포함됩니다. 회사는 순손실 $1.8 million, 주당 $(0.17)을 보고했습니다. 경영진은 어려움에도 불구하고 2025년 하반기에 매출 성장 가속화와 매출총이익률 확대를 기대하며 실적 개선을 전망하고 있습니다.
Creative Realities (NASDAQ: CREX), fournisseur de solutions d'affichage numérique et AdTech, a publié ses résultats financiers du T2 2025 avec un chiffre d'affaires de $13.0 millions, en légère baisse par rapport à $13.1 millions au T2 2024. La société a vu ses revenus hardware augmenter à $7.1 millions contre $5.0 millions, tandis que les revenus de services ont diminué à $6.0 millions contre $8.1 millions.
Les indicateurs clés incluent un résultat brut de $5.0 millions (en baisse par rapport à $6.8 millions), un EBITDA ajusté de $1.2 millions (vs $1.5 million) et une hausse du Revenu Récurrent Annuel (ARR) à $18.1 millions. La société a enregistré une perte nette de $1.8 millions, soit $(0.17) par action. Malgré les difficultés, la direction prévoit une meilleure performance au second semestre 2025, avec une accélération de la croissance des revenus et une expansion attendue des marges brutes.
Creative Realities (NASDAQ: CREX), Anbieter von Digital-Signage- und AdTech-Lösungen, meldete die Finanzergebnisse für Q2 2025 mit Umsatz von $13.0 Millionen, leicht rückläufig gegenüber $13.1 Millionen im Q2 2024. Das Unternehmen verzeichnete einen Anstieg der Hardware-Umsätze auf $7.1 Millionen gegenüber $5.0 Millionen, während die Serviceerlöse von $8.1 Millionen auf $6.0 Millionen sanken.
Zu den Kennzahlen zählen ein Bruttogewinn von $5.0 Millionen (vs. $6.8 Millionen), ein bereinigtes EBITDA von $1.2 Millionen (vs. $1.5 Millionen) und ein Anstieg des Annual Recurring Revenue (ARR) auf $18.1 Millionen. Das Unternehmen meldete einen Nettoverlust von $1.8 Millionen bzw. $(0.17) pro Aktie. Trotz der Herausforderungen erwartet das Management eine stärkere Performance in der zweiten Hälfte 2025, mit beschleunigtem Umsatzwachstum und erwarteter Ausweitung der Bruttomargen.
- Hardware revenue increased 42% to $7.1 million from $5.0 million year-over-year
- Annual Recurring Revenue (ARR) grew to $18.1 million from $17.3 million in Q1 2025
- Reduced debt by $3.1 million using operating cash flow
- Sales and marketing expenses decreased to $1.2 million from $1.7 million year-over-year
- Net loss widened to $1.8 million ($0.17 per share) from $0.6 million ($0.06 per share) year-over-year
- Service revenue declined to $6.0 million from $8.1 million year-over-year
- Gross margin decreased to 38.5% from 51.8% in Q2 2024
- Outstanding debt increased to $20.1 million from $13.0 million at start of fiscal year
- Cash position decreased to $0.6 million from $1.0 million at end of 2024
Insights
CREX reports Q2 with sequential revenue growth but year-over-year declines in gross margin and profitability amid strategic shifts.
Creative Realities delivered a mixed second quarter with $13.0 million in revenue, essentially flat compared to last year's $13.1 million, but showing 34% sequential growth from Q1 2025. The company's financial performance reveals significant strategic shifts in its business composition that are impacting near-term profitability.
The hardware-service revenue mix has dramatically changed year-over-year. Hardware revenue jumped to $7.1 million from $5.0 million (+42%), while service revenue declined to $6.0 million from $8.1 million (-26%). This product mix shift, along with the company's October 2024 exit from media sales, drove gross margin compression from 51.8% to 38.5% year-over-year.
This margin deterioration directly impacted profitability metrics. Adjusted EBITDA fell to $1.2 million from $1.5 million, and the company swung to an operating loss of $1.3 million versus a $0.6 million profit in Q2 2024. Net loss widened to $1.8 million ($0.17 per share) compared to a $0.6 million loss ($0.06 per share) last year.
On the positive side, the company reduced debt by $3.1 million during the quarter using operating cash flow, demonstrating solid cash generation despite profit challenges. Annual recurring revenue (ARR) grew to $18.1 million from $17.3 million at the end of Q1, indicating strengthening subscription momentum.
The balance sheet shows increasing leverage, with trailing twelve-month net leverage ratio rising to 4.40x from 2.39x at the beginning of 2025. This reflects both the settlement of contingent consideration liability and profitability pressures.
Management's outlook indicates expected improvement in both top-line growth and gross margins for the second half of 2025, citing anticipated product mix improvements and increased service revenue. The hardware revenue spike in Q2 partially reflects customers purchasing ahead of deployments due to tariff concerns, which suggests potential for service revenue growth as these deployments occur later in 2025.
Revenue Growth Picks Up as Year Progresses; Company on Track for Record 2025
LOUISVILLE, Ky., Aug. 13, 2025 (GLOBE NEWSWIRE) -- Creative Realities, Inc. (“Creative Realities,” “CRI,” or the “Company”) (NASDAQ: CREX), a leading provider of digital signage, media and AdTech solutions, today announced its financial results for the fiscal second quarter ended June 30, 2025.
Highlights:
- Second quarter revenue of
$13.0 million versus$13.1 million in the prior-year period - Gross profit of
$5.0 million for the three months ended June 30, 2025 versus$6.8 million in the second quarter of fiscal 2024 - Adjusted EBITDA* of
$1.2 million for the second quarter of 2025 versus$1.5 million in the prior-year period - Annual recurring revenue (“ARR”) of approximately
$18.1 million at the end of the second quarter versus$17.3 million as of March 31, 2025
“We’re very pleased to see, as anticipated, a pickup in business as the year plays out, with even stronger performance anticipated in the second half of fiscal 2025,” said Rick Mills, Chief Executive Officer. “Not only did revenue grow
*Adjusted EBITDA is a non-GAAP financial measure. A reconciliation is provided in the tables of this press release.
2025 Second Quarter Financial Results
Sales were
Consolidated gross profit was
Sales and marketing expenses in the second quarter fell to
The Company posted an operating loss of approximately
Adjusted EBITDA (defined later in this release) was
Balance Sheet
As of June 30, 2025, the Company had cash on hand of approximately
Conference Call Details
The Company will host a conference call to review the results of the second quarter of 2025, and provide additional commentary about recent performance, on August 13 at 9:00 am Eastern Time, which will include prepared remarks and materials from management, followed by a live Q&A. The call will be hosted by Rick Mills, Chief Executive Officer, George Sautter, Chief Strategy Officer, and Ryan Mudd, Interim Chief Financial Officer.
Prior to the call, participants should register at https://bit.ly/CREXearnings2025Q2. Once registered, participants can use the weblink provided in the registration email to participate in the live webcast. An archived edition of the earnings conference call will also be posted on the Company’s website later today and will remain available for one year.
Use of Non-GAAP Measures
Creative Realities, Inc. prepares its consolidated financial statements in accordance with United States generally accepted accounting principles (“GAAP”). In addition to disclosing financial results prepared in accordance with GAAP, the Company discloses information regarding “EBITDA” and “Adjusted EBITDA.” CRI defines “EBITDA” as earnings before interest, income taxes, depreciation and amortization of intangibles. CRI defines “Adjusted EBITDA” as EBITDA excluding stock-based compensation, fair value adjustments and both cash and non-cash non-recurring gains and charges. EBITDA and Adjusted EBITDA are not measures of performance defined in accordance with GAAP. However, EBITDA and Adjusted EBITDA are used internally in planning and evaluating the Company’s operating performance. Accordingly, management believes that disclosure of these metrics offers investors, bankers and other stakeholders an additional view of the Company’s operations that, when coupled with the GAAP results, provides a more complete understanding of the Company’s financial results. EBITDA and Adjusted EBITDA should not be considered as an alternative to net income/(loss) or to net cash used in operating activities as measures of operating results or liquidity. Our calculation of EBITDA and Adjusted EBITDA may not be comparable to similarly titled measures used by other companies, and the measures exclude financial information that some may consider important in evaluating the Company’s performance. A reconciliation of GAAP net income/(loss) to EBITDA and Adjusted EBITDA is included in the accompanying financial schedules. For further information, please refer to Creative Realities, Inc.’s filings available online at www.sec.gov, including our Annual Report on Form 10-K for 2024 filed with the Securities and Exchange Commission.
About Creative Realities, Inc.
Creative Realities designs, develops and deploys digital signage-based experiences for enterprise-level networks utilizing its Clarity™, ReflectView™, and iShowroom™ Content Management System (CMS) platforms. The Company is actively providing recurring SaaS and support services across diverse vertical markets, including but not limited to retail, automotive, digital-out-of-home (DOOH) advertising networks, convenience stores, foodservice/QSR, gaming, theater, and stadium venues. In addition, the Company assists clients in utilizing place-based digital media to achieve business objectives such as increased revenue, enhanced customer experiences, and improved productivity. This includes the design, deployment, and day to day management of Retail Media Networks to monetize on-premise foot traffic utilizing its AdLogic™ and AdLogic CPM+™ programmatic advertising platforms.
Cautionary Note on Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, and includes, among other things, discussions of our business strategies, product releases, future operations and capital resources. Words such as "estimates," "projects," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Forward-looking statements are not guarantees of future performance, conditions or results. They are based on the opinions, estimates and beliefs of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties, assumptions and other factors, many of which are outside of our control, that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Some of these risks are discussed in the “Risk Factors” section contained in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, and the Company’s subsequent filings with the U.S. Securities and Exchange Commission. Important factors, among others, that may affect actual results or outcomes include: our strategy for customer retention, growth, product development, market position, financial results and reserves, our ability to execute on our business plan, our ability to retain key personnel, our ability to remain listed on the Nasdaq Capital Market, our ability to realize the revenues included in our future guidance, ARR and backlog reports, our ability to satisfy our upcoming debt obligations and other liabilities, the ability of the Company to continue as a going concern, potential litigation, supply chain shortages, and general economic and market conditions impacting demand for our products and services. Readers should not place undue reliance upon any forward-looking statements. We assume no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Contacts
Media:
Christina Davies
cdavies@ideagrove.com
Investor Relations:
Chris Witty
cwitty@darrowir.com
646-438-9385
ir@cri.com
https://investors.cri.com/
| CREATIVE REALITIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except per share amounts) | ||||||||
| June 30, | December 31, | |||||||
| 2025 | 2024 | |||||||
| (unaudited) | ||||||||
| ASSETS | ||||||||
| Current Assets: | ||||||||
| Cash and cash equivalents | $ | 569 | $ | 1,037 | ||||
| Accounts receivable, net | 10,569 | 10,605 | ||||||
| Inventories, net | 1,055 | 1,995 | ||||||
| Prepaid expenses and other current assets | 921 | 859 | ||||||
| Total Current Assets | $ | 13,114 | $ | 14,496 | ||||
| Property and equipment, net | 352 | 321 | ||||||
| Goodwill | 26,453 | 26,453 | ||||||
| Other intangible assets, net | 21,692 | 22,841 | ||||||
| Operating lease right-of-use assets | 1,791 | 787 | ||||||
| Other non-current assets | 251 | 312 | ||||||
| Total Assets | $ | 63,653 | $ | 65,210 | ||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
| Current Liabilities: | ||||||||
| Accounts payable | $ | 6,169 | $ | 6,354 | ||||
| Accrued expenses and other current liabilities | 2,368 | 3,210 | ||||||
| Deferred revenues | 1,856 | 1,137 | ||||||
| Customer deposits | 1,626 | 2,181 | ||||||
| Current maturities of operating leases | 420 | 466 | ||||||
| Short-term debt | 591 | - | ||||||
| Short-term contingent consideration, at fair value | - | 12,815 | ||||||
| Total Current Liabilities | 13,030 | 26,163 | ||||||
| Revolving credit facility | 16,093 | 13,044 | ||||||
| Long-term debt | 3,409 | - | ||||||
| Long-term obligations under operating leases | 1,491 | 342 | ||||||
| Other non-current liabilities | 187 | 201 | ||||||
| Total Liabilities | 34,210 | 39,750 | ||||||
| Shareholders’ Equity | ||||||||
| Common stock, | 105 | 104 | ||||||
| Additional paid-in capital | 84,641 | 82,210 | ||||||
| Accumulated deficit | (55,303 | ) | (56,854 | ) | ||||
| Total Shareholders’ Equity | 29,443 | 25,460 | ||||||
| Total Liabilities and Shareholders’ Equity | $ | 63,653 | $ | 65,210 | ||||
| CREATIVE REALITIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) | ||||||||||||||||
| For the Three Months Ended | For the Six Months Ended | |||||||||||||||
| June 30, | June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Sales | ||||||||||||||||
| Hardware | $ | 7,073 | $ | 5,024 | $ | 10,467 | $ | 9,168 | ||||||||
| Services and other | 5,957 | 8,091 | 12,297 | 16,232 | ||||||||||||
| Total sales | 13,030 | 13,115 | 22,764 | 25,400 | ||||||||||||
| Cost of sales | ||||||||||||||||
| Hardware | 5,298 | 3,510 | 7,602 | 6,703 | ||||||||||||
| Services and other | 2,715 | 2,817 | 5,692 | 6,145 | ||||||||||||
| Total cost of sales | 8,013 | 6,327 | 13,294 | 12,848 | ||||||||||||
| Gross profit | 5,017 | 6,788 | 9,470 | 12,552 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Sales and marketing expenses | 1,156 | 1,665 | 2,403 | 3,130 | ||||||||||||
| General and administrative expenses | 5,192 | 4,531 | 9,120 | 8,906 | ||||||||||||
| Total operating expenses | 6,348 | 6,196 | 11,523 | 12,036 | ||||||||||||
| Operating (loss) income | (1,331 | ) | 592 | (2,053 | ) | 516 | ||||||||||
| Other expenses (income): | ||||||||||||||||
| Interest expense, including amortization of debt discount | 513 | 513 | 834 | 1,176 | ||||||||||||
| Gain on settlement of contingent consideration | - | - | (4,775 | ) | - | |||||||||||
| Gain on change in fair value of contingent consideration | - | (408 | ) | - | (1,012 | ) | ||||||||||
| Loss on debt extinguishment | - | 1,059 | - | 1,059 | ||||||||||||
| Other (income) expense | (1 | ) | 18 | 264 | (17 | ) | ||||||||||
| Total other expenses (income) | 512 | 1,182 | (3,677 | ) | 1,206 | |||||||||||
| Net (loss) income before income taxes | (1,843 | ) | (590 | ) | 1,624 | (690 | ) | |||||||||
| Benefit (provision) for income taxes | 26 | (25 | ) | (73 | ) | (34 | ) | |||||||||
| Net (loss) income | $ | (1,817 | ) | $ | (615 | ) | $ | 1,551 | $ | (724 | ) | |||||
| Basic (loss) earning per common share | $ | (0.17 | ) | $ | (0.06 | ) | $ | 0.15 | $ | (0.07 | ) | |||||
| Diluted (loss) earning per common share | $ | (0.17 | ) | $ | (0.06 | ) | $ | 0.15 | $ | (0.07 | ) | |||||
| Weighted average shares outstanding - basic | 10,496 | 10,447 | 10,471 | 10,434 | ||||||||||||
| Weighted average shares outstanding - diluted | 10,496 | 10,447 | 10,568 | 10,434 | ||||||||||||
| CREATIVE REALITIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands, except share per share amounts) | ||||||||
| Six Months Ended | ||||||||
| June 30, | ||||||||
| 2025 | 2024 | |||||||
| Operating Activities: | ||||||||
| Net income (loss) | $ | 1,551 | $ | (724 | ) | |||
| Adjustments to reconcile net income (loss) to net cash provided by operating activities | ||||||||
| Depreciation and amortization | 2,404 | 1,769 | ||||||
| Amortization of debt discount | - | 569 | ||||||
| Amortization of stock-based compensation | 1,344 | 6 | ||||||
| Amortization of deferred financing costs | 51 | 12 | ||||||
| Bad debt expense | 57 | 130 | ||||||
| Provision for inventory reserves | 14 | (49 | ) | |||||
| Deferred income taxes | 9 | 23 | ||||||
| Gain on settlement of contingent consideration | (4,775 | ) | - | |||||
| Loss on extinguishment of debt | - | 1,059 | ||||||
| Gain on change in fair value of contingent consideration | - | (1,012 | ) | |||||
| Changes to operating assets and liabilities: | ||||||||
| Accounts receivable | (21 | ) | 2,847 | |||||
| Inventories | 926 | (379 | ) | |||||
| Prepaid expenses and other current assets | 38 | (299 | ) | |||||
| Accounts payable | (207 | ) | (2,630 | ) | ||||
| Accrued expenses and other current liabilities | (768 | ) | 705 | |||||
| Deferred revenue | 719 | 1,814 | ||||||
| Customer deposits | (555 | ) | 352 | |||||
| Other, net | (14 | ) | 13 | |||||
| Net cash provided by operating activities | 773 | 4,206 | ||||||
| Investing activities | ||||||||
| Purchases of property and equipment | (109 | ) | (8 | ) | ||||
| Capitalization of labor for software development | (1,155 | ) | (1,487 | ) | ||||
| Net cash used in investing activities | (1,264 | ) | (1,495 | ) | ||||
| Financing activities | ||||||||
| Proceeds from borrowings under revolving credit facility | 18,334 | 13,860 | ||||||
| Repayment of borrowings under revolving credit facility | (15,285 | ) | (41 | ) | ||||
| Settlement of contingent consideration | (3,000 | ) | - | |||||
| Repayment of term debt | - | (15,147 | ) | |||||
| Payment of deferred financing costs | - | (186 | ) | |||||
| Principal payments on finance leases | (26 | ) | (21 | ) | ||||
| Net cash provided by (used in) financing activities | 23 | (1,535 | ) | |||||
| Increase (decrease) in cash and cash equivalents | (468 | ) | 1,176 | |||||
| Cash and cash equivalents, beginning of period | 1,037 | 2,910 | ||||||
| Cash and cash equivalents, end of period | $ | 569 | $ | 4,086 | ||||
RECONCILIATION OF GAAP NET LOSS TO ADJUSTED EBITDA
(in thousands, unaudited)
Creative Realities, Inc. prepares its consolidated financial statements in accordance with United States generally accepted accounting principles (“GAAP”). In addition to disclosing financial results prepared in accordance with GAAP, the Company discloses information regarding “EBITDA” and “Adjusted EBITDA.” CRI defines “EBITDA” as earnings before interest, income taxes, depreciation and amortization. CRI defines “Adjusted EBITDA” as EBITDA excluding Director stock-based compensation, fair value adjustments and both cash and non-cash non-recurring gains and charges.
EBITDA and Adjusted EBITDA are non-GAAP financial measures and should not be considered as a substitute for net income (loss), operating income (loss) or any other performance measure derived in accordance with United States generally accepted accounting principles (“GAAP”) or as an alternative to net cash provided by operating activities as a measure of CRI’s profitability or liquidity. CRI’s management believes EBITDA and Adjusted EBITDA are useful financial metrics because they allow external users of CRI’s financial statements, such as industry analysts, investors, lenders and rating agencies, to more effectively evaluate CRI’s operating performance, compare the results of its operations from period to period and against CRI’s peers without regard to CRI’s financing methods, hedging positions or capital structure and because it highlights trends in CRI’s business that may not otherwise be apparent when relying solely on GAAP measures. CRI also presents EBITDA and Adjusted EBITDA because it believes EBITDA and Adjusted EBITDA are important supplemental measures of its performance that are frequently used by others in evaluating companies in its industry. Because EBITDA and Adjusted EBITDA exclude some, but not all, items that affect net income (loss) and may vary among companies, the EBITDA and Adjusted EBITDA CRI presents may not be comparable to similarly titled measures of other companies.
The following table presents a reconciliation of EBITDA and Adjusted EBITDA from net loss, CRI’s most directly comparable financial measure calculated and presented in accordance with GAAP.
| Quarters Ended | ||||||||||||||||||||
| June 30 | March 31 | December 31 | September 30 | June 30 | ||||||||||||||||
| Quarters ended | 2025 | 2025 | 2024 | 2024 | 2024 | |||||||||||||||
| GAAP net (loss) income | $ | (1,817 | ) | $ | 3,368 | $ | (2,838 | ) | $ | 54 | $ | (615 | ) | |||||||
| Interest expense: | ||||||||||||||||||||
| Amortization of debt discount | - | - | - | - | 209 | |||||||||||||||
| Other interest, net | 513 | 321 | 296 | 303 | 304 | |||||||||||||||
| Depreciation/amortization: | ||||||||||||||||||||
| Amortization of intangible assets | 1,165 | 1,136 | 1,128 | 1,081 | 878 | |||||||||||||||
| Amortization of employee share-based awards | 1,249 | 2 | 4 | 3 | 3 | |||||||||||||||
| Depreciation of property & equipment | 52 | 51 | 49 | 51 | 52 | |||||||||||||||
| Income tax (benefit) expense | (26 | ) | 99 | (120 | ) | 192 | 25 | |||||||||||||
| EBITDA | $ | 1,136 | $ | 4,977 | $ | (1,481 | ) | $ | 1,684 | $ | 856 | |||||||||
| Adjustments | ||||||||||||||||||||
| Loss (Gain) on fair value of contingent consideration | - | - | 2,022 | 598 | (408 | ) | ||||||||||||||
| Gain on settlement of contingent consideration | - | (4,775 | ) | - | - | - | ||||||||||||||
| Loss on debt extinguishment | - | - | - | - | 1,059 | |||||||||||||||
| Stock-based compensation - Director grants | 93 | - | - | - | - | |||||||||||||||
| Other (income) expense | (1 | ) | 265 | (74 | ) | (11 | ) | 18 | ||||||||||||
| Adjusted EBITDA | $ | 1,228 | $ | 467 | $ | 467 | $ | 2,271 | $ | 1,525 | ||||||||||
FAQ
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