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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
March 25, 2026
| STRAN & COMPANY, INC. |
| (Exact name of registrant as specified in its charter) |
| Nevada |
|
001-41038 |
|
04-3297200 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
| 500 Victory Road, Suite 301, Quincy, MA |
|
02171 |
| (Address of principal executive offices) |
|
(Zip Code) |
| 800-833-3309 |
| (Registrant’s telephone number, including area code) |
| |
| (Former name or former address, if changed since last report) |
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
| Common Stock, par value $0.0001 per share |
|
SWAG |
|
The Nasdaq Stock Market LLC |
| |
|
|
|
|
| Warrants, each warrant exercisable for one share of Common Stock at an exercise price of $4.81375 |
|
SWAGW |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging Growth Company ☒
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
Item 2.02 Results of
Operations and Financial Condition.
On March 25, 2026, Stran & Company, Inc.
(the “Company”) issued a press release announcing its financial results for the fiscal year ended December 31, 2025 and providing
a business update. A copy of the press release is furnished as Exhibit 99.1 to this report. The press release also announced that the
Company will hold a conference call at 10:00 a.m. Eastern Time on March 26, 2026 to discuss its financial results for the fiscal
year ended December 31, 2025, the Company’s corporate progress and other developments. A copy of the press release is furnished
as Exhibit 99.1 to this report.
The information furnished
pursuant to this Item 2.02 (including Exhibit 99.1 hereto), shall not be deemed “filed” for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section,
nor shall it be deemed incorporated by reference into any filing under the Exchange Act or the Securities Act of 1933,
as amended (the “Securities Act”), except as expressly set forth by specific reference in such a filing.
Forward-Looking Statements
The press release attached
as Exhibit 99.1 hereto and the statements contained therein include “forward-looking statements” within the
meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, which statements involve substantial risks and uncertainties. Forward-looking statements generally
relate to future events or the Company’s future financial or operating performance. In some cases, you can identify these statements
because they contain words such as “may,” “will,” “believes,” “expects,” “anticipates,”
“estimates,” “projects,” “intends,” “should,” “seeks,” “future,”
“continue,” “plan,” “target,” “predict,” “potential,” or the negative of such
terms, or other comparable terminology that concern the Company’s expectations, strategy, plans, or intentions. Forward-looking statements relating
to expectations about future results or events are based upon information available to the Company as of today’s date and are not
guarantees of the future performance of the Company, and actual results may vary materially from the results and expectations discussed. Forward-looking statements
include, but are not limited to, the Company’s expectations regarding synergies from its acquired businesses, its financial position
and operating performance, its expectations regarding its business initiatives, the Company’s expectations about its operating performance,
trends in its business, the effectiveness of its growth strategies, its market opportunities, and demand for its products and services
in general. The Company’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods
are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks and
uncertainties described in the section titled “Risk Factors” in the Company’s periodic reports with the Securities and
Exchange Commission. All subsequent written and oral forward-looking statements concerning the Company or other matters
and attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements
above. The Company does not undertake any obligation to publicly update any of these forward-looking statements to reflect
events or circumstances that may arise after the date hereof, except as required by law.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. |
|
Description of Exhibit |
| 99.1 |
|
Press Release dated March 25, 2026 |
| 104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
| Date: March 25, 2026 |
STRAN & COMPANY, INC. |
| |
|
| |
/s/ Andrew Shape |
| |
Name: |
Andrew Shape |
| |
Title: |
President and Chief Executive Officer |
Exhibit 99.1

Stran & Company Reports 40.6% Year-Over-Year
Revenue Growth to $116.2 Million for the 2025 Fiscal Year
Conference Call to be Held Thursday, March 26,
2026 at 10:00 a.m. Eastern Time
Quincy, MA / March 25, 2026 / Stran & Company,
Inc. (“Stran” or the “Company”) (NASDAQ: SWAG) (NASDAQ: SWAGW), a leading outsourced marketing solutions provider
that leverages its promotional products and loyalty incentive expertise, today announced its financial results for the fiscal year ended
December 31, 2025, and provided a business update. Management will host a conference call at 10:00 a.m. Eastern Time on Thursday, March
26, 2026.
2025 Financial Highlights
| ● | Sales: $116.2 million, an increase of
40.6% year-over-year |
| ● | EBITDA: $0.2 million, compared to $(3.6)
million in 2024 and an improvement of $3.8 million |
| ● | Gross Profit: $34.2 million, representing
a gross margin of 29.5% |
| ● | Cash, Cash Equivalents, and Investments:
$11.6 million as of December 31, 2025 |
“2025 was a year of strong execution and
meaningful financial progress for Stran,” commented Andy Shape, Chief Executive Officer of Stran. “We delivered revenue of
$116.2 million, representing 40.6% year-over-year growth compared to $82.7 million in 2024. Importantly, this performance included approximately
12.9% organic growth from our core promotional products business, driven by increased spend from existing enterprise customers and new
customer wins.”
“We also generated positive EBITDA for the
2025 fiscal year, which we believe reflects the scalability of our operating platform, the strength of our customer relationships, and
the benefits of our expanding mix of program-based business. While we reported a modest net loss for the year, our results were impacted
by higher legal, accounting and other public company-related expenses, including costs associated with the re-audit of historical financial
statements. We believe these expenses masked the strength of the underlying operating performance of the business during the year.”
“As we entered 2026, we continued to see
encouraging momentum across the business. Although we are not providing formal guidance at this time, we are pleased with our start to
the year and currently expect first-quarter profitability to improve compared to prior periods. We believe this reflects continued demand
from our customer base, the operating leverage in our platform, and the benefits of the strategic progress we made throughout 2025.”
“Our growth continues to be supported by
a diversified and expanding customer base. Today, we serve more than 2,000 active customers, including over 30 Fortune 500 companies,
across a wide range of industries. This breadth of relationships, combined with our focus on programmatic engagements, provides increasing
revenue visibility and a strong foundation for sustainable growth.”
“A key component of our strategy is converting
customers into long-term program relationships, where clients utilize multiple services across our platform, including promotional products,
loyalty and incentive programs, e-commerce solutions, print services, warehousing and logistics. This approach drives deeper engagement,
longer customer lifecycles, and more predictable revenue streams, while positioning Stran as a strategic partner rather than a transactional
vendor.”
“During 2025, we also continued to invest
in initiatives designed to support our next phase of growth. We enhanced our digital capabilities with the launch of our client-branded
online gifting platform, which expands our e-commerce offering and creates an additional scalable solution for customers. Looking ahead,
we remain focused on deepening enterprise customer relationships, expanding our programmatic revenue base, investing in technology and
selectively pursuing acquisitions. Given the highly fragmented nature of the promotional products industry and the strength of our differentiated
platform, we believe Stran is well positioned to continue scaling the business and delivering long-term value for shareholders.”
Financial Results for the Fiscal Year ended
December 31, 2025
| ● | Sales
increased $33.5 million, or 40.6%, to $116.2 million for the year ended December 31, 2025 compared to the prior year driven by increased
spending from new and existing customers along with the acquisition of the Gander Group assets in August 2024. Sales by our Stran segment
increased 12.9%, or $9.4 million, to $82.1 million and sales of our SLS segment (which consists of the former Gander Group business)
increased 242.6%, or $24.1 million, to $34.1 million. |
| ● | Gross
profit increased $8.4 million, or 32.6%, to $34.2 million for the year ended December 31, 2025 compared to the prior year. Gross profit
margin decreased to 29.5% for the year ended December 31, 2025 from 31.2% in the prior year, primarily due to the acquisition of the
Gander Group business in August 2024, which operates at a lower gross margin than the Stran segment. |
| ● | Operating
expenses increased $5.5 million, or 17.8%, to $36.2 million for the year ended December 31, 2025 compared to the prior year. As a percentage
of sales, operating expenses decreased to 31.1% for the year ended December 31, 2025 from 37.2% in the prior year. |
| ● | Net
loss was $0.7 million for the year ended December 31, 2025 compared to a net loss of $4.1 million for the prior year period. |
| ● | EBITDA
was $0.2 million for the year ended December 31, 2025 compared to $(3.6) million in the prior year period. |
Conference Call
Management will host a conference call at 10:00
A.M. Eastern Time on March 26, 2026, to discuss the Company’s financial results for the fiscal year ended December 31, 2025, as
well as the Company’s corporate progress and other developments.
The conference call will be available via telephone
by dialing toll free 888-506-0062 for U.S. callers or +1 973-528-0011 for international callers and using entry code: 441976. A webcast
of the call may be accessed at https://www.webcaster5.com/Webcast/Page/2855/53757or
on the company’s Investors section of the website: ir.stran.com/news-events/ir-calendar.
A webcast replay will be available on the Investor
Relations section of the Company’s website (ir.stran.com/news-events/ir-calendar)
through March 26, 2027. A telephone replay of the call will be available approximately one hour following the call, through April 9, 2026,
and can be accessed by dialing 877-481-4010 for U.S. callers or +1 919-882-2331 for international callers and entering conference ID:
53757.
About Stran
For over 30 years, Stran has grown to become a
leader in the promotional products industry, specializing in complex marketing programs to help recognize the value of promotional products,
branded merchandise, and loyalty incentive programs as a tool to drive awareness, build brands and impact sales. Stran is the chosen promotional
programs manager of many Fortune 500 companies, across a variety of industries, to execute their promotional marketing, loyalty and incentive,
sponsorship activation, recruitment, retention, and wellness campaigns. Stran provides world-class customer service and utilizes cutting-edge
technology, including efficient ordering and logistics technology to provide order processing, warehousing and fulfillment functions.
The Company’s mission is to develop long-term relationships with its clients, enabling them to connect with both their customers
and employees in order to build lasting brand loyalty. Additional information about the Company is available at: www.stran.com.
Forward Looking Statements
This press release
contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than
statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in
this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,”
“could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,”
“plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,”
“will” “would,” or the negative of these words or other similar expressions, although not all forward-looking
statements contain these words. Forward-looking statements include, but are not limited to, the Company’s expectations regarding
synergies from its acquired businesses, its financial position and operating performance, its expectations regarding its business initiatives,
the Company’s expectations about its operating performance, trends in its business, the effectiveness of its growth strategies,
its market opportunities, and demand for its products and services in general. Forward-looking statements are based on the Company’s
current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain
forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties
are described more fully in the section titled “Risk Factors” in the Company’s periodic reports which are filed with
the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and the Company
undertakes no duty to update such information except as required under applicable law.
Contacts:
Investor Relations Contact:
Crescendo Communications, LLC
Tel: (212) 671-1021
SWAG@crescendo-ir.com
Press Contact:
Howie Turkenkopf
press@stran.com
CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share amounts)
| | |
December 31, 2025 | | |
December 31, 2024 | |
| | |
| | |
| |
| ASSETS | |
| | |
| |
| CURRENT ASSETS: | |
| | |
| |
| Cash and cash equivalents | |
$ | 6,753 | | |
$ | 9,358 | |
| Investments | |
| 4,872 | | |
| 8,856 | |
| Accounts receivable, net | |
| 17,252 | | |
| 18,092 | |
| Accounts receivable - related parties, net | |
| - | | |
| 573 | |
| Inventory | |
| 7,621 | | |
| 5,389 | |
| Prepaid corporate taxes | |
| - | | |
| 28 | |
| Prepaid expenses | |
| 1,778 | | |
| 2,308 | |
| Deposits | |
| 363 | | |
| 423 | |
| Other current assets | |
| 2 | | |
| 455 | |
| Total current assets | |
| 38,641 | | |
| 45,482 | |
| | |
| | | |
| | |
| Property and equipment, net | |
| 1,944 | | |
| 1,701 | |
| | |
| | | |
| | |
| OTHER ASSETS: | |
| | | |
| | |
| Intangible assets - customer lists, net | |
| 3,690 | | |
| 4,170 | |
| Intangible assets - trade name | |
| 654 | | |
| 654 | |
| Goodwill | |
| 2,321 | | |
| 2,321 | |
| Other assets | |
| 53 | | |
| 23 | |
| Right of use assets | |
| 2,045 | | |
| 797 | |
| Total other assets | |
| 8,763 | | |
| 7,965 | |
| Total assets | |
$ | 49,348 | | |
$ | 55,148 | |
| | |
| | | |
| | |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |
| | | |
| | |
| CURRENT LIABILITIES: | |
| | | |
| | |
| Accounts payable and accrued expenses | |
$ | 8,568 | | |
$ | 8,919 | |
| Accrued payroll and related | |
| 1,970 | | |
| 1,513 | |
| Unearned revenue | |
| 3,201 | | |
| 4,423 | |
| Rewards program liability | |
| 1,500 | | |
| 6,000 | |
| Sales tax payable | |
| 327 | | |
| 353 | |
| Current portion of contingent earn-out liabilities | |
| 105 | | |
| 256 | |
| Current portion of installment payment liabilities | |
| 230 | | |
| 365 | |
| Current portion of lease liabilities | |
| 602 | | |
| 366 | |
| Total current liabilities | |
| 16,503 | | |
| 22,195 | |
| | |
| | | |
| | |
| LONG-TERM LIABILITIES: | |
| | | |
| | |
| Long-term contingent earn-out liabilities | |
| 455 | | |
| 455 | |
| Long-term installment payment liabilities | |
| 147 | | |
| 425 | |
| Long-term lease liabilities | |
| 1,695 | | |
| 432 | |
| Loan - vehicle | |
| 47 | | |
| — | |
| Total long-term liabilities | |
| 2,344 | | |
| 1,312 | |
| Total liabilities | |
| 18,847 | | |
| 23,507 | |
| | |
| | | |
| | |
| Commitments and contingencies | |
| | | |
| | |
| | |
| | | |
| | |
| STOCKHOLDERS’ EQUITY: | |
| | | |
| | |
| Preferred stock, $0.0001 par value; 50,000,000 shares authorized, 0 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | |
| — | | |
| — | |
| Common stock, $0.0001 par value; 300,000,000 shares authorized, 18,508,157 and 18,598,574 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | |
| 2 | | |
| 2 | |
| Additional paid-in capital | |
| 37,925 | | |
| 38,391 | |
| Accumulated deficit | |
| (7,489 | ) | |
| (6,742 | ) |
| Accumulated other comprehensive income (loss) | |
| 63 | | |
| (10 | ) |
| Total stockholders’ equity | |
| 30,501 | | |
| 31,641 | |
| Total liabilities and stockholders’ equity | |
$ | 49,348 | | |
$ | 55,148 | |
CONSOLIDATED STATEMENTS OF OPERATIONS
YEARS ENDED DECEMBER 31, 2025 and 2024
(in thousands, except share and per share amounts)
| | |
2025 | | |
2024 | |
| SALES | |
| | |
| |
| Sales | |
$ | 116,191 | | |
$ | 82,194 | |
| Sales – related parties | |
| - | | |
| 460 | |
| Total sales | |
| 116,191 | | |
| 82,654 | |
| | |
| | | |
| | |
| COST OF SALES: | |
| | | |
| | |
| Cost of sales | |
| 81,962 | | |
| 56,487 | |
| Cost of sales - related parties | |
| - | | |
| 354 | |
| Total cost of sales | |
| 81,962 | | |
| 56,841 | |
| | |
| | | |
| | |
| GROSS PROFIT | |
| 34,229 | | |
| 25,813 | |
| | |
| | | |
| | |
| OPERATING EXPENSES: | |
| | | |
| | |
| General and administrative expenses | |
| 36,186 | | |
| 30,707 | |
| Total operating expenses | |
| 36,186 | | |
| 30,707 | |
| | |
| | | |
| | |
| LOSS FROM OPERATIONS | |
| (1,957 | ) | |
| (4,894 | ) |
| | |
| | | |
| | |
| OTHER INCOME: | |
| | | |
| | |
| Other income | |
| 937 | | |
| 38 | |
| Interest income | |
| 296 | | |
| 305 | |
| Change in fair value of contingent earn-out liability | |
| - | | |
| 208 | |
| Realized gain on investments | |
| 97 | | |
| 208 | |
| Total other income | |
| 1,330 | | |
| 759 | |
| | |
| | | |
| | |
| LOSS BEFORE INCOME TAXES | |
| (627 | ) | |
| (4,135 | ) |
| | |
| | | |
| | |
| Provision for income taxes | |
| 120 | | |
| 5 | |
| | |
| | | |
| | |
| NET LOSS | |
$ | (747 | ) | |
$ | (4,140 | ) |
| | |
| | | |
| | |
| NET LOSS PER COMMON SHARE | |
| | | |
| | |
| Basic and diluted | |
$ | (0.04 | ) | |
$ | (0.22 | ) |
| | |
| | | |
| | |
| WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING | |
| | | |
| | |
| Basic and diluted | |
| 18,458,827 | | |
| 18,587,607 | |
CONSOLIDATED STATEMENTS OF CASH FLOWS
YEARS ENDED DECEMBER 31, 2025 AND 2024
(in thousands)
| | |
2025 | | |
2024 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | |
| | |
| |
| Net loss | |
$ | (747 | ) | |
$ | (4,140 | ) |
| Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | |
| | | |
| | |
| Depreciation and amortization | |
| 1,107 | | |
| 824 | |
| Noncash operating lease expense | |
| 829 | | |
| 539 | |
| Provision for credit losses | |
| 373 | | |
| 211 | |
| Change in allowance for credit losses – related parties | |
| 401 | | |
| 327 | |
| Change in fair value of contingent earn-out liability | |
| - | | |
| (208 | ) |
| Noncash interest accretion | |
| 49 | | |
| 125 | |
| Stock-based compensation | |
| 88 | | |
| 128 | |
| Unrealized gain on investments | |
| - | | |
| 3 | |
| | |
| | | |
| | |
| Changes in operating assets and liabilities: | |
| | | |
| | |
| Accounts receivable, net | |
| 468 | | |
| (263 | ) |
| Accounts receivable – related parties, net | |
| 172 | | |
| (148 | ) |
| Inventory | |
| (2,232 | ) | |
| 333 | |
| Prepaid corporate taxes | |
| 28 | | |
| 33 | |
| Prepaid expenses | |
| 530 | | |
| (425 | ) |
| Deposits | |
| 60 | | |
| 1,367 | |
| Other assets | |
| 423 | | |
| (455 | ) |
| Accounts payable and accrued expenses | |
| (354 | ) | |
| 60 | |
| Accrued payroll and related | |
| 457 | | |
| (1,291 | ) |
| Unearned revenue | |
| (1,221 | ) | |
| 1,159 | |
| Rewards program liability | |
| (4,500 | ) | |
| 5,125 | |
| Sales tax payable | |
| (26 | ) | |
| (17 | ) |
| Operating lease liabilities | |
| (578 | ) | |
| (527 | ) |
| Net cash (used in) provided by operating activities | |
| (4,673 | ) | |
| 2,760 | |
| | |
| | | |
| | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |
| | | |
| | |
| Business acquisitions, net of cash acquired | |
| — | | |
| (1,469 | ) |
| Additions to property and equipment | |
| (823 | ) | |
| (601 | ) |
| Proceeds from sale of investments | |
| 9,249 | | |
| 8,659 | |
| Purchase of investments | |
| (5,191 | ) | |
| (7,122 | ) |
| Net cash provided by (used in) investing activities | |
| 3,235 | | |
| (533 | ) |
| | |
| | | |
| | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |
| | | |
| | |
| Payment of contingent earn-out liabilities | |
| (151 | ) | |
| (68 | ) |
| Payment of installment payment liabilities | |
| (462 | ) | |
| (760 | ) |
| Payment of notes payable | |
| — | | |
| (100 | ) |
| Payment for stock repurchase | |
| (554 | ) | |
| — | |
| Net cash used in financing activities | |
| (1,167 | ) | |
| (928 | ) |
| | |
| | | |
| | |
| NET CHANGE IN CASH AND CASH EQUIVALENTS | |
| (2,605 | ) | |
| 1,299 | |
| | |
| | | |
| | |
| CASH AND CASH EQUIVALENTS - BEGINNING | |
| 9,358 | | |
| 8,059 | |
| CASH AND CASH EQUIVALENTS - ENDING | |
$ | 6,753 | | |
$ | 9,358 | |
Non-GAAP Financial Measures
EBITDA is a non-GAAP financial measure that
the Company believes helps investors to compare its operating performance to that of other companies. “EBITDA” is defined
as net income (loss) excluding interest income, income tax expense and depreciation and amortization expense. The Company believes EBITDA
is an important measure of operating performance because it allows management, investors and others to evaluate and compare the Company’s
core operating results from period to period by removing (i) the impact of the Company’s capital structure (interest expense from
outstanding debt), (ii) tax consequences and (iii) asset base (depreciation and amortization). EBITDA is not a measure of financial performance
under GAAP. EBITDA should not be considered in isolation or as an alternative to net income, cash flows from operating activities or any
other measure determined in accordance with GAAP. The items excluded to calculate EBITDA are significant components in understanding and
assessing the Company’s results of operations. The Company’s EBITDA may not be comparable to a similarly titled measure of
another company because other entities may not calculate EBITDA in the same manner.
The following table presents the reconciliation
of EBITDA to its most comparable GAAP measure, net loss, as reported (unaudited):
RECONCILIATION OF NET LOSS TO EBITDA
YEARS ENDED DECEMBER 31, 2025 AND 2024
(in thousands)
(unaudited)
| | |
2025 | | |
2024 | |
| Net loss (GAAP) | |
$ | (747 | ) | |
$ | (4,140 | ) |
| Interest income | |
| (296 | ) | |
| (305 | ) |
| Provision for income taxes | |
| 120 | | |
| 5 | |
| Depreciation and amortization | |
| 1,107 | | |
| 824 | |
| EBITDA | |
$ | 184 | | |
$ | (3,616 | ) |