Amesite(US:AMST)2025-10-24 21:08Financial Performance - The company incurred a net loss of $642,266 for the three months ended September 30, 2025, and a total net loss of $42.1 million since its incorporation on November 14, 2017 [77][80]. - Revenue for the three months ended September 30, 2025, was $94,296, a significant increase from $11,250 for the same period in 2024, reflecting a strategic pivot to grow the customer base [97]. Cash and Funding - Cash, cash equivalents, and restricted cash totaled $1,930,053 as of September 30, 2025, down from $2,433,418 as of June 30, 2025 [84][90]. - The company has raised approximately $11.76 million from private placements and $12.8 million from a public offering of common stock in September 2020 [81]. Deferred Revenue and Liabilities - Deferred revenue liabilities totaled $24,655 as of September 30, 2025, down from $36,745 as of June 30, 2025, indicating a reduction in future performance obligations [96]. Expenses - General and administrative expenses decreased to $547,060 for the three months ended September 30, 2025, from $633,122 in the same period in 2024, due to lower payroll costs [101]. - Technology and content development expenses were $102,888 for the three months ended September 30, 2025, compared to $139,658 for the same period in 2024, reflecting reduced headcount [103]. - Sales and marketing expenses decreased to $106,472 for the three months ended September 30, 2025, from $165,814 in the same period in 2024, as marketing functions were moved in-house [105]. Capitalization and Amortization - The company capitalized software costs of $87,600 for the three months ended September 30, 2025, and recognized amortization expense of $54,103 during the same period [92]. Interest Income - Interest income for the three months ended September 30, 2025, was $19,858, slightly up from $19,299 for the same period in 2024 [106].