Vaso Corporation Announces Financial Results for Third Quarter of 2025
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.
Vaso (OTCQX: VASO) ha riportato i risultati del terzo trimestre 2025 per i tre mesi terminati il 30 settembre 2025, con un fatturato totale di 22,7 milioni di dollari, in crescita del 9,1% anno su anno. Il utile lordo è salito a 13,9 milioni di dollari, un incremento dell'18,2%, e l'azienda ha registrato un utile netto di 1,7 milioni di dollari rispetto a una perdita di 1,2 milioni di dollari nel Q3 2024, un miglioramento di 2,9 milioni. Adjusted EBITDA era di 1,6 milioni di dollari rispetto a -1,2 milioni di un anno prima. Le disponibilità liquide e equivalenti ammontavano a 34,9 milioni di dollari alla fine del trimestre, e il flusso di cassa operativo nei primi nove mesi del 2025 è stato di 9,0 milioni di dollari contro 3,6 milioni nello stesso periodo dell'anno precedente.
Tutte e tre i segmenti aziendali hanno contribuito alla crescita dei ricavi; i servizi professionali di vendita hanno guidato con un aumento del 18,7%. La SG&A è aumentata moderatamente, mentre i ricavi differiti e in abbonamento hanno continuato a crescere.
Vaso (OTCQX: VASO) informó los resultados del tercer trimestre de 2025 para los tres meses finalizaron el 30 de septiembre de 2025, con un ingreso total de 22,7 millones de dólares, un aumento de 9,1% interanual. La ganancia bruta subió a 13,9 millones de dólares, un incremento de 18,2%, y la empresa registró una utilidad neta de 1,7 millones de dólares frente a una pérdida neta de 1,2 millones en el Q3 de 2024, una mejora de 2,9 millones. EBITDA ajustado fue de 1,6 millones de dólares frente a -1,2 millones hace un año. Las disponibilidades en caja y equivalentes eran de 34,9 millones de dólares al cierre del trimestre, y el flujo de caja operativo para los primeros nueve meses de 2025 fue de 9,0 millones de dólares frente a 3,6 millones en el periodo del año anterior.
Los tres segmentos de negocio contribuyeron al crecimiento de los ingresos; los servicios profesionales de ventas lideraron con un aumento del 18,7%. Los gastos de SG&A aumentaron moderadamente, mientras que los ingresos diferidos y de suscripción continuaron en aumento.
Vaso (OTCQX: VASO)는 2025년 9월 30일 종료된 3분기 2025 결과를 발표했습니다. 총 매출 2,270만 달러, 전년 동기 대비 9.1% 증가. 총 이익은 1390만 달러로 증가했고, 18.2% 상승했으며 회사는 순이익 170만 달러를 기록했으며, 2024년 Q3의 순손실 120만 달러에 비해 향상되었습니다. 조정 EBITDA는 160만 달러였고 전년 동기의 -120만 달러와 비교됩니다. 분기말 현금 및 현금성 자산은 3490만 달러였고, 2025년 9개월 간 영업현금흐름은 900만 달러로전년 동기의 360만 달러 대비 증가했습니다.
세 개의 사업 부문 모두 매출 성장에 기여했습니다. 전문 영업 서비스가 18.7%의 증가로 선두를 이끌었습니다. SG&A는 완만하게 증가했고, 이연 및 구독 매출은 계속 상승 추세였습니다.
Vaso (OTCQX: VASO) a publié les résultats du troisième trimestre 2025 pour les trois mois clos au 30 septembre 2025, avec un chiffre d'affaires total de 22,7 millions de dollars, en hausse de 9,1% sur un an. Le bénéfice brut a augmenté pour atteindre 13,9 millions de dollars, soit une progression de 18,2%, et l'entreprise a enregistré un résultat net de 1,7 million de dollars contre une perte nette de 1,2 million de dollars au T3 2024, une amélioration de 2,9 millions. L’EBITDA ajusté s’est établi à 1,6 million de dollars contre -1,2 million l’an dernier. La trésorerie et équivalents s’élevaient à 34,9 millions de dollars à la fin du trimestre, et le flux de trésorerie opérationnel des neuf premiers mois de 2025 s’élevait à 9,0 millions de dollars contre 3,6 millions sur la période de l’année précédente.
Les trois segments d’activité ont contribué à la croissance du chiffre d’affaires; les services de vente professionnels ont mené avec une augmentation de 18,7%. Les SG&A ont augmenté modérément, tandis que les revenus différés et par abonnement ont continué d’augmenter.
Vaso (OTCQX: VASO) berichtete die Ergebnisse des dritten Quartals 2025 für die drei Monate zum 30. September 2025, mit einem Gesamtumsatz von 22,7 Mio. USD, zzgl. 9,1% gegenüber dem Vorjahr. Der Bruttogewinn stieg auf 13,9 Mio. USD, eine Steigerung von 18,2%, und das Unternehmen verzeichnete ein Nettoeinkommen von 1,7 Mio. USD gegenüber einem Nettoverlust von 1,2 Mio. USD im Q3 2024, eine Verbesserung von 2,9 Mio. USD. Bereinigtes EBITDA betrug 1,6 Mio. USD gegenüber negativen 1,2 Mio. USD im Vorjahr. Die Barmittel und Barmitteläquivalente beliefen sich zum Quartalsende auf 34,9 Mio. USD, und der operative Cashflow für die ersten neun Monate 2025 betrug 9,0 Mio. USD gegenüber 3,6 Mio. USD im Vorjahreszeitraum.
Alle drei Geschäftsbereiche trugen zum Umsatzwachstum bei; professionelle Vertriebsdienstleistungen führten mit einer Zunahme von 18,7% an. Die SG&A stiegen moderat, während Abgrenzungen und Abonnementsumsätze weiter zunahmen.
Vaso (OTCQX: VASO) أبلغت عن نتائج الربع الثالث من عام 2025 للثلاثة أشهر المنتهية في 30 سبتمبر 2025، مع إيرادات إجمالية قدرها 22.7 مليون دولار، بارتفاع 9.1% على أساس سنوي. ارتفع الربح الإجمالي إلى 13.9 مليون دولار، بزيادة قدرها 18.2%، وسجلت الشركة صافي دخل قدره 1.7 مليون دولار مقابل صافي خسارة قدره 1.2 مليون دولار في الربع الثالث من 2024، بتحسن قدره 2.9 مليون دولار. وكان EBITDA المعدلة عند 1.6 مليون دولار مقابل −1.2 مليون دولار قبل عام. كانت النقد والنقد المعادل 34.9 مليون دولار في نهاية الربع، وكان التدفق النقدي من التشغيل للـ9 أشهر الأولى من 2025 9.0 مليون دولار مقابل 3.6 مليون دولار في الفترة المقارنة من العام السابق.
قد ساهم جميع أقسام الأعمال الثلاثة في نمو الإيرادات؛ قادت خدمات البيع الاحترافي بزيادة 18.7%. ارتفع SG&A بشكل معتدل، بينما استمرت الإيرادات المؤجلة والإيرادات بالاشتراك في الاتجاه التصاعدي.
- 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
- None.
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
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