Financial Performance - Q3 2025 revenue grew to $5.7M, a 2% increase from $5.6M in Q3 2024 and Q2 2025[5] - Q3 Adjusted EBITDA increased 71% to $933,000 compared to $546,000 in Q3 2024[5] - Gross margin percentage remained strong at 75% for Q3 2025[5] - Total revenue for the first nine months of 2025 was $16.8M, a 2% decrease from $17.2M during the same period in 2024[9] - Non-GAAP net income for Q3 2025 was $760,000, or $0.20 per diluted share, compared to $187,000, or $0.05 per diluted share, in Q3 2024[6] - Operating loss for Q3 2025 was $184,000, improved from $604,000 in Q3 2024[6] - Revenues for the three months ended September 30, 2025, were $5,723 million, a slight increase from $5,639 million in the same period of 2024[31] - Gross profit for the nine months ended September 30, 2025, was $12,826 million, down from $13,059 million in 2024, reflecting a decrease of approximately 1.8%[31] - Operating loss for the three months ended September 30, 2025, improved to $(184) million compared to $(604) million in the same period of 2024[31] - The company incurred a loss from continuing operations per share of $(0.01) for the three months ended September 30, 2025, compared to $(0.23) in 2024[31] Customer Metrics - As of September 30, 2025, the company had 12,445 active customers[9] - Subscription customers increased to 972 during the quarter[9] - Average ARR for subscriptions per customer rose to $11,651, up from $10,189 as of September 30, 2024[9] Cash Flow and Assets - Adjusted free cash flow for the first nine months of 2025 was $799,000 compared to $1.9M for the same period in 2024[9] - Free cash flow from continuing operations for the three months ended September 30, 2025, was $(590,000), compared to $1,358,000 for the same period in 2024[18] - Adjusted free cash flow from continuing operations for the nine months ended September 30, 2025, was $799,000, compared to $1,860,000 for the same period in 2024[18] - Cash flows from operating activities for the nine months ended September 30, 2025, provided $300 million, a decrease from $2,294 million in 2024[33] - Cash and cash equivalents at the end of September 30, 2025, were $3,261 million, down from $4,086 million at the end of September 30, 2024[33] Balance Sheet - Total assets as of September 30, 2025, were $44,050,000, down from $50,638,000 as of December 31, 2024[29] - Total liabilities as of September 30, 2025, were $13,256,000, a decrease from $25,412,000 as of December 31, 2024[29] - Stockholders' equity increased to $30,794,000 as of September 30, 2025, compared to $25,226,000 as of December 31, 2024[29] Future Outlook - The company plans to introduce product enhancements before year-end to enhance customer experience and support sustained top-line growth[25] Shareholder Information - The weighted average number of common shares outstanding for the three months ended September 30, 2025, was 3,870,000, compared to 3,835,000 for the same period in 2024[17]
Issuer Direct (ISDR) - 2025 Q3 - Quarterly Results