Revenue Performance - Revenue for Q1 2025 was $37.7 million, a decrease of 1.2% year-over-year and an increase of 5.7% sequentially[5] - Revenue for Q1 2025 was $37,531 million, a decrease of 1.4% from $38,047 million in Q1 2024[22] - Foreign currency exchange impact on revenue for Q1 2025 was $766 million, leading to constant currency revenue of $38,438 million[25] Profitability Metrics - Gross margin improved to 30.1%, reflecting a 380 basis points increase year-over-year and a 190 basis points increase sequentially[5] - Adjusted EBITDA for Q1 2025 was $3.7 million, representing a 25.6% increase year-over-year[5] - Adjusted EBITDA from continuing operations for Q1 2025 was $3,694 million, up 25.5% from $2,942 million in Q1 2024[25] - The company reported an operating loss of $1.8 million, compared to an operating profit of $1.3 million in the same quarter last year[6] - Operating loss for Q1 2025 was $(1,787) million compared to an operating profit of $1,331 million in Q1 2024[22] - Net loss for Q1 2025 was $(4,350) million, an increase of 97.3% from $(2,208) million in Q1 2024[22] - The company’s net loss from continuing operations was $3.9 million, but adjusted for non-cash stock-based compensation, the net loss was $0 million[6] Cash and Liquidity - Cash and cash equivalents totaled $9.7 million as of March 31, 2025, down from $12.1 million at the end of 2024[6] - Cash and equivalents at the end of Q1 2025 were $9,726 million, compared to $3,501 million at the end of Q1 2024[24] - Cash used in operating activities for Q1 2025 was $(929) million, a significant improvement from $(3,610) million in Q1 2024[24] - Net cash used in investing activities for Q1 2025 was $(1,091) million, compared to $(385) million in Q1 2024[24] Asset and Liability Overview - Total assets increased to $98.977 million as of March 31, 2025, compared to $88.045 million at the end of 2024[20] - Total liabilities rose to $119.365 million as of March 31, 2025, up from $109.391 million at the end of 2024[20] Segment Performance - The technology segment revenue was $11.4 million, a decrease of 1.0% year-over-year but an increase of 16% sequentially[6] Acquisition Potential - A pending acquisition of Exela Technologies BPA, LLC could potentially increase XBP Europe's revenue to approximately $1 billion from $143 million on a pro forma basis for the year ending December 31, 2024[4] Depreciation and Amortization - Depreciation and amortization for Q1 2025 totaled $627 million, down from $808 million in Q1 2024[22] Stock-Based Compensation - Stock-based compensation expense for Q1 2025 was $3,587 million, with no comparable expense in Q1 2024[24]
CF ACQUISITION(CFFE) - 2025 Q1 - Quarterly Results