EDC(EDUC) - 2025 Q3 - Quarterly Results

Financial Performance - Net revenues for the third quarter were $11.1 million, down 34.3$16.9 million in the prior year[4] - Loss before income taxes was $(1.1) million compared to a gain of$2.7 million in the same quarter last year[4] - Net loss totaled $(0.8) million, a decline from a net gain of$2.0 million in the prior year[4] - Year-to-date net revenues were $27.6 million, down 34.5$42.1 million[4] - Loss before income taxes for the year-to-date period was $(5.3) million compared to a gain of$2.9 million last year[4] Operational Metrics - Average active PaperPie Brand Partners decreased to 12,400 from 16,400 year-over-year[4] - Average active PaperPie Brand Partners for the year-to-date period decreased to 13,300 from 19,200[4] Strategic Actions - The company executed a Purchase Sale Agreement for the Hilti Complex, expected to eliminate bank borrowings and achieve full debt repayment by March 31, 2025[3] - The company has reduced outbound freight costs by approximately 20% through a new carrier[3] Tax Credits - An Employee Retention Tax Credit of $3.8 million was received in the previous year, impacting financial results positively[3]