Vaso Corporation Announces Financial Results for Third Quarter of 2025
Rhea-AI Summary
Vaso (OTCQX: VASO) reported third-quarter 2025 results for the three months ended September 30, 2025, with total revenue of $22.7 million, up 9.1% year‑over‑year. Gross profit rose to $13.9 million, an increase of 18.2%, and the company recorded net income of $1.7 million versus a net loss of $1.2 million in Q3 2024, a $2.9 million improvement. Adjusted EBITDA was $1.6 million versus negative $1.2 million a year earlier. Cash and cash equivalents were $34.9 million at quarter end, and operating cash flow for the first nine months of 2025 was $9.0 million versus $3.6 million in the prior-year period.
All three business segments contributed to revenue growth; professional sales services led with an 18.7% increase. SG&A rose modestly while deferred and subscription revenues continued to trend upward.
Positive
- Gross profit +18.2% to $13.9M in Q3 2025
- Professional sales revenue +18.7% year‑over‑year
- Net income of $1.7M vs net loss $1.2M (improvement $2.9M)
- Operating cash flow $9.0M YTD vs $3.6M YTD in 2024
Negative
- None.
News Market Reaction
On the day this news was published, VASO gained 12.73%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
PLAINVIEW, N.Y., Nov. 14, 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 operating results for the three months ended September 30, 2025.
“For the third quarter of 2025, the Company’s total revenue was
“Cashflow generated from operating activities during the three months ended September 30, 2025 was
“As you might be aware, the 2025 Annual Shareholders Meeting will take place on December 17, 2025 in New York City; I look forward to seeing you then,” concluded Dr. Ma.
Financial Results for Three Months Ended September 30, 2025
For the three months ended September 30, 2025, total revenue increased by
Gross profit for the third quarter of 2025 increased by
Selling, general and administrative (SG&A) expenses for the third quarter of 2025 increased by
Operating income for the three months ended September 30, 2025 was
Net income for the three months ended September 30, 2025 was
Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization, and stock-based compensation) was
Net cash generated 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 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 net 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 net income (loss) to Adjusted EBITDA is set forth below:
| STATEMENTS OF OPERATIONS | ||||||||||||
| FOR THE THREE MONTHS ENDED | FOR THE NINE MONTHS ENDED | |||||||||||
| September 30, 2025 | September 30, 2024 | September 30, 2025 | September 30, 2024 | |||||||||
| (In thousands) | ||||||||||||
| (unaudited) | ||||||||||||
| Revenue | $ | 22,657 | $ | 20,769 | $ | 62,076 | $ | 59,372 | ||||
| Gross profit | 13,896 | 11,756 | 37,053 | 34,824 | ||||||||
| Operating income (loss) | 1,538 | (1,393 | ) | (101 | ) | (1,866 | ) | |||||
| Other (expense) income, net | 208 | 242 | 655 | 821 | ||||||||
| Income (loss) before taxes | 1,746 | (1,151 | ) | 554 | (1,045 | ) | ||||||
| Income tax expense | (35 | ) | (30 | ) | (115 | ) | (154 | ) | ||||
| Net income (loss) | $ | 1,711 | $ | (1,181 | ) | $ | 439 | $ | (1,199 | ) | ||
| Income tax expense | 35 | 30 | 115 | 154 | ||||||||
| Interest expense (income), net | (316 | ) | (284 | ) | (862 | ) | (884 | ) | ||||
| Depreciation and amortization | 179 | 219 | 531 | 630 | ||||||||
| Non-cash stock-based compensation | 8 | 8 | 25 | 26 | ||||||||
| Adjusted EBITDA* | $ | 1,617 | $ | (1,208 | ) | $ | 248 | $ | (1,273 | ) | ||
| *Adjusted EBITDA is earnings (loss) before interest, taxes, depreciation and amortization and non-cash stock-based compensation | ||||||||||||
| BALANCE SHEETS | |||||||
| September 30, 2025 | December 31, 2024 | ||||||
| (In thousands) | |||||||
| (unaudited) | |||||||
| Total current assets | $ | 51,905 | $ | 51,185 | |||
| Total assets | $ | 84,474 | $ | 82,938 | |||
| Total current liabilities | $ | 31,597 | $ | 34,720 | |||
| Total stockholders' equity | $ | 28,236 | $ | 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, many of which are outside of the Company’s control. 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
What were VASO's total revenues and revenue growth in Q3 2025?
How did VASO perform on profitability in Q3 2025?
What was VASO's adjusted EBITDA for the third quarter of 2025?
How much cash did VASO hold at the end of Q3 2025 and its operating cash flow?
Which VASO business segment drove the most revenue growth in Q3 2025?
