Insignia(US:LDWY)2025-08-28 20:20Revenue Performance - Net revenue for the quarter ended June 30, 2025, was $23.2 million, a 37.0% increase from $16.9 million in the same quarter of 2024[6] - Net revenue for the six months ended June 30, 2025, was $35.6 million, up 42.4% from $25.0 million in the same period of 2024[7] - Revenue for Q2 2025 reached $23.179 million, a 37% increase from $16.920 million in Q2 2024[22] Profitability Metrics - Gross profit for the quarter was $5.4 million, or 23.3% of sales, compared to $3.9 million, or 23.1% of sales in the prior year[8] - Gross profit for the six months was $9.3 million, or 26.1% of sales, compared to $5.7 million, or 22.6% of sales in the prior year[9] - Gross profit for Q2 2025 was $5.391 million, up from $3.906 million in Q2 2024, reflecting a gross margin improvement[22] Operating Performance - Operating income for the quarter was $2.5 million, a significant increase from $0.2 million in the same quarter of 2024[10] - Operating income for the six months was $3.9 million, a turnaround from an operating loss of $1.5 million in the same period of 2024[11] - Operating income for Q2 2025 was $2.485 million, compared to $165,000 in Q2 2024, indicating significant operational efficiency gains[22] Net Income and Earnings - Net income attributable to Lendway for the quarter was $1.0 million, or $0.58 per diluted share, compared to a net loss of $0.5 million, or a loss of $0.29 per diluted share in the prior year[14] - Net income attributable to Lendway, Inc. for Q2 2025 was $1.047 million, a recovery from a loss of $515,000 in Q2 2024[22] - Basic earnings per share for Q2 2025 were $0.59, recovering from a loss of $0.29 in Q2 2024[22] Cash Flow and Financial Position - Cash provided by operating activities for the quarter was $6.3 million, an increase from $3.5 million in the same quarter of 2024[5] - As of June 30, 2025, cash and cash equivalents totaled $0.9 million, down from $1.8 million as of December 31, 2024, primarily due to debt repayments[18] - Cash and cash equivalents as of June 30, 2025, were $906,000, down from $1.759 million at the end of 2024[24] Other Financial Metrics - Adjusted EBITDA for the quarter was $2.6 million, compared to $2.0 million in the same quarter of 2024[16] - Adjusted EBITDA for Q2 2025 was $2.633 million, compared to $2.021 million in Q2 2024, showing a 30% year-over-year increase[27] - Total assets as of June 30, 2025, were $96.102 million, a decrease from $99.985 million at the end of 2024[24] - Total debt decreased to $34.083 million from $42.090 million, indicating improved financial leverage[24] - Comprehensive income attributable to Lendway, Inc. for Q2 2025 was $1.788 million, compared to a loss of $480,000 in Q2 2024[22]