Vaso Corporation Announces Financial Results for First Quarter of 2025
The professional sales service segment saw a 7.1% revenue increase, while the IT segment grew by 1.6%. The equipment segment experienced a slight decline of 3.6%. Total deferred revenue reached $35.4 million, up 12.7% year-over-year, providing revenue stability and financial visibility.
The company maintained a strong balance sheet with $25.3 million in cash as of March 31, 2025, which improved to approximately $30.5 million by May 9, 2025. Despite increased market uncertainties, management remains cautiously optimistic about 2025, citing historically stronger performance in later quarters.
Il segmento dei servizi di vendita professionale ha registrato un aumento del fatturato del 7,1%, mentre il segmento IT è cresciuto dell'1,6%. Il segmento delle attrezzature ha subito un leggero calo del 3,6%. Il totale dei ricavi differiti ha raggiunto 35,4 milioni di dollari, con un incremento del 12,7% su base annua, garantendo stabilità dei ricavi e visibilità finanziaria.
L'azienda ha mantenuto un bilancio solido con 25,3 milioni di dollari in liquidità al 31 marzo 2025, saliti a circa 30,5 milioni di dollari al 9 maggio 2025. Nonostante le crescenti incertezze di mercato, la direzione rimane cautamente ottimista per il 2025, sottolineando una storica performance più forte nei trimestri successivi.
El segmento de servicios de ventas profesionales mostró un aumento de ingresos del 7,1%, mientras que el segmento de TI creció un 1,6%. El segmento de equipamiento experimentó una ligera caída del 3,6%. Los ingresos diferidos totales alcanzaron 35,4 millones de dólares, un aumento del 12,7% interanual, proporcionando estabilidad en los ingresos y visibilidad financiera.
La compañía mantuvo un balance sólido con 25,3 millones de dólares en efectivo al 31 de marzo de 2025, que aumentaron a aproximadamente 30,5 millones de dólares al 9 de mayo de 2025. A pesar de la creciente incertidumbre del mercado, la dirección se mantiene cautelosamente optimista sobre 2025, citando un desempeño históricamente más fuerte en los trimestres posteriores.
전문 판매 서비스 부문은 매출이 7.1% 증가했고 IT 부문은 1.6% 성장했습니다. 장비 부문은 3.6% 소폭 감소했습니다. 총 이연 수익은 3,540만 달러로 전년 대비 12.7% 증가하여 수익 안정성과 재무 가시성을 제공합니다.
회사는 2025년 3월 31일 기준 2,530만 달러의 현금을 보유한 건전한 재무 상태를 유지했으며, 2025년 5월 9일에는 약 3,050만 달러로 증가했습니다. 시장 불확실성이 커지고 있음에도 불구하고 경영진은 2025년에 대해 신중한 낙관론을 유지하며, 이후 분기에서 역사적으로 더 강한 실적을 기대하고 있습니다.
Le segment des services de vente professionnelle a vu son chiffre d'affaires augmenter de 7,1 %, tandis que le segment informatique a progressé de 1,6 %. Le segment des équipements a connu une légère baisse de 3,6 %. Le total des revenus différés a atteint 35,4 millions de dollars, en hausse de 12,7 % d'une année sur l'autre, assurant une stabilité des revenus et une visibilité financière.
L'entreprise a maintenu un bilan solide avec 25,3 millions de dollars en liquidités au 31 mars 2025, montant passé à environ 30,5 millions de dollars au 9 mai 2025. Malgré une incertitude croissante sur le marché, la direction reste prudemment optimiste pour 2025, évoquant des performances historiquement plus fortes au cours des trimestres suivants.
Der Bereich professioneller Vertriebsdienstleistungen verzeichnete einen Umsatzanstieg von 7,1 %, während der IT-Bereich um 1,6 % wuchs. Der Bereich Ausrüstung verzeichnete einen leichten Rückgang von 3,6 %. Die gesamten aufgeschobenen Umsatzerlöse erreichten 35,4 Millionen US-Dollar, ein Anstieg von 12,7 % im Jahresvergleich, was Umsatzstabilität und finanzielle Transparenz bietet.
Das Unternehmen hielt eine starke Bilanz mit 25,3 Millionen US-Dollar in bar zum 31. März 2025, die bis zum 9. Mai 2025 auf etwa 30,5 Millionen US-Dollar anstieg. Trotz zunehmender Marktunsicherheiten bleibt das Management für 2025 vorsichtig optimistisch und verweist auf historisch stärkere Leistungen in späteren Quartalen.
- Record Q1 revenue of $19.5 million, up 3.9% YoY
- Gross profit increased by 4.0% to $11.4 million
- Strong cash position of $25.3 million, improving to $30.5 million by May 2025
- Deferred revenue grew 12.7% YoY to $35.4 million
- Operating loss improved from $1.5 million to $1.2 million YoY
- Cash used in operations improved from $1.1 million to $566,000 YoY
- Net loss of $1.1 million in Q1 2025
- SG&A expenses increased by 2.8% to $12.4 million
- Equipment segment revenue declined by 3.6%
- Negative Adjusted EBITDA of $1.1 million
PLAINVIEW, N.Y., May 15, 2025 (GLOBE NEWSWIRE) -- Vaso Corporation (“Vaso”) (OTCQX: VASO), a leading MedTech company with a diversified business portfolio in network and healthcare IT services, professional sales services, and proprietary medical products, today announced its operating results for the three months ended March 31, 2025.
“The Company recorded record first quarter revenue, with revenue of
“Our balance sheet remains strong, with
“The high deferred revenue in the professional sales service segment and backlogs in the IT and equipment segments provide revenue stability and financial visibility. In addition, we are historically more profitable in the later quarters of the year. Therefore, we remain cautiously optimistic about 2025 despite the recent increased uncertainties in the general business environment,” concluded Dr. Ma.
Financial Results for Three Months Ended March 31, 2025
For the three months ended March 31, 2025, revenue increased by
Gross profit for the first quarter of 2025 increased by
Selling, general and administrative (SG&A) expenses for the first quarter of 2025 increased by
Operating loss for the three months ended March 31, 2025 was
Net loss for the three months ended March 31, 2025 was
Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization, and stock-based compensation) was negative
Net cash used in operating activities was
About Vaso
Vaso Corporation is a diversified medical technology company with several distinct but related specialties: managed IT systems and services, including healthcare software solutions and network connectivity services; professional sales services for medical equipment; and design, manufacture, and sale of proprietary medical devices.
The Company operates through three wholly owned subsidiaries:
- VasoTechnology, Inc. provides network and IT services through two business units: NetWolves Network Services LLC, a managed network services provider with an extensive, proprietary service platform to a broad base of customers; and VasoHealthcare IT Corp., a national value added reseller of RIS (radiology Information system), PACS (picture archiving and communication system), and other software solutions from various vendors as well as related services, including implementation, management and support.
- Vaso Diagnostics, Inc. d.b.a. VasoHealthcare, provides professional sales services and is the operating subsidiary for the exclusive sales representation of GE HealthCare diagnostic imaging and ultrasound products in certain market segments in the USA.
- VasoMedical, Inc. manages and coordinates the design, manufacture and sales of proprietary medical equipment and software, as well as operates the Company's overseas assets including China-based subsidiaries.
Additional information is available on the Company's website at www.vasocorporation.com.
Summarized Financial Information and Non-GAAP Financial Measures
We utilize Adjusted EBITDA to evaluate our performance internally, and this non-GAAP financial measure is frequently used by securities analysts, investors and other interested parties in the evaluation of companies in the Company’s industry. Management believes that this non-GAAP financial measure, in addition to GAAP measures, is also useful to investors to evaluate the Company’s results.
Adjusted EBITDA is not a measure of financial performance under U.S. GAAP and should not be considered a substitute for operating income (loss), which we consider to be the most directly comparable U.S. GAAP measure. Adjusted EBITDA has limitations as an analytical tool, and when assessing our operating performance, you should not consider Adjusted EBITDA in isolation, or as a substitute for net income or other consolidated income statement data prepared in accordance with U.S. GAAP. Investors should recognize that the Company’s presentation of this non-GAAP financial measure might not be comparable to similarly-titled measures of other companies, limiting its usefulness as a comparative measure.
Summarized financial information including a reconciliation of operating loss to Adjusted EBITDA is set forth below:
| FOR THE THREE MONTHS ENDED | ||||||
| STATEMENTS OF OPERATIONS | March 31, 2025 | March 31, 2024 | ||||
| (In thousands) | ||||||
| (unaudited) | ||||||
| Revenue | $ | 19,462 | $ | 18,738 | ||
| Gross profit | 11,358 | 10,918 | ||||
| Operating loss | (1,218 | ) | (1,468 | ) | ||
| Other (expense) income, net | 183 | 307 | ||||
| Loss before taxes | (1,035 | ) | (1,161 | ) | ||
| Income tax expense | (40 | ) | (12 | ) | ||
| Net loss | $ | (1,075 | ) | $ | (1,173 | ) |
| Income tax expense | 40 | 12 | ||||
| Interest expense (income), net | (248 | ) | (299 | ) | ||
| Depreciation and amortization | 160 | 185 | ||||
| Non-cash stock-based compensation | 8 | 9 | ||||
| Adjusted EBITDA* | $ | (1,115 | ) | $ | (1,266 | ) |
| *Adjusted EBITDA is earnings (loss) before interest, taxes, depreciation and amortization and non-cash stock-based compensation | ||||||
| BALANCE SHEETS | March 31, 2025 | December 31, 2024 | ||||
| (In thousands) | ||||||
| (unaudited) | ||||||
| Total current assets | $ | 45,981 | $ | 51,185 | ||
| Total assets | $ | 77,914 | $ | 82,938 | ||
| Total current liabilities | $ | 30,245 | $ | 34,720 | ||
| Total stockholders' equity | $ | 26,650 | $ | 27,702 | ||
The information contained in this report contains forward-looking statements (as such term is defined in the Securities Exchange Act of 1934 and the regulations thereunder). These forward-looking statements may include projections of, or guidance on, the Company’s future financial performance, expected levels of future revenue and expenses, anticipated growth strategies, and anticipated trends in the Company’s business or financial results. When used in this report, words such as “anticipates”, “continue”, “believes”, “could”, “estimates”, “expects”, “may”, “plans”, “potential”, “future”, “intends”, the negative of these terms and similar expressions identify forward-looking statements. Any forward-looking statement made by the Company in this document is based only on the Company’s current expectations, estimates and projections about future events and financial trends affecting the financial condition of its business based on information currently available to the Company and speaks only as of the date when made. Forward-looking statements are not historical facts or guarantees of future performance. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company’s control, and actual results may differ materially from this forward-looking information and therefore should not be unduly relied upon. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions, including the possibility of a downturn or disruptions in the U.S. economy; the impact of US tariff policies; the effect of the dramatic changes taking place in IT and healthcare; continuation of the GEHC agreement; the impact of competitive technology and products and their pricing; medical insurance reimbursement policies; unexpected manufacturing or supplier problems; unforeseen difficulties and delays in product development programs; the actions of regulatory authorities and third-party payers in the United States and overseas; and the risk factors reported from time to time in the Company’s SEC reports. The Company undertakes no obligation to update forward-looking statements as a result of future events or developments.
Investor Contact:
Jonathan Newton
Investor Relations
Phone: 516-997-4600
Email: jnewton@vasocorporation.com
FAQ
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