Revenue Growth - Total revenues for the three months ended September 30, 2025, increased to $20,425, representing a 24.0% growth compared to $16,686 in the same period of 2024[19] - SaaS revenue for the nine months ended September 30, 2025, reached $57,583, up from $45,872 in 2024, indicating a 25.6% increase[19] - Total revenues for the nine months ended September 30, 2025, reached $57,701, up 25% from $45,998 in the prior year[65] - Subscription services revenue from Lofty for the three months ended September 30, 2025, was $8,709, a 3% increase from $8,442 in 2024[65] - The Lofty segment generated revenues of $10,056,000 for the three months ended September 30, 2025, compared to $9,216,000 for the same period in 2024, representing an increase of 9.1%[120] - The Trucker Path segment reported revenues of $10,332,000 for the three months ended September 30, 2025, up from $7,425,000 in the prior year, marking a significant growth of 39.5%[120] Profit and Loss - Gross profit for the three months ended September 30, 2025, was $15,143, compared to $12,633 in 2024, reflecting a 19.8% growth[19] - The company reported a comprehensive loss of $(1,629) for the three months ended September 30, 2025, compared to a comprehensive income of $1,187 in the same period of 2024[20] - The Company reported a loss from operations of $1,452,000 for the three months ended September 30, 2025, compared to a loss of $571,000 for the same period in 2024, indicating a worsening of operational performance[120] - The company reported a loss from operations of $1.980 billion for the nine months ended September 30, 2025, compared to a loss of $2.791 billion in 2024, showing an improvement of 29.0%[122] Expenses - Operating expenses for the three months ended September 30, 2025, totaled $16,595, up from $13,204 in 2024, marking a 25.0% increase[19] - Research and development expenses totaled $6,663,000 for the three months ended September 30, 2025, compared to $4,779,000 in the same period of 2024, representing an increase of 39.5%[120] - Selling and marketing expenses were $5,476,000 for the three months ended September 30, 2025, compared to $4,964,000 in the same period of 2024, reflecting an increase of 10.3%[120] - Operating expenses totaled $44.830 billion for the nine months ended September 30, 2025, compared to $37.920 billion in 2024, representing an increase of 18.2%[122] Assets and Liabilities - Total current assets as of September 30, 2025, were $40,850, an increase from $43,942 as of December 31, 2024[16] - Total liabilities decreased to $38,090 as of September 30, 2025, from $24,707 as of December 31, 2024[17] - Cash and cash equivalents increased to $22,049 as of September 30, 2025, compared to $26,642 as of December 31, 2024[16] - The total assets of the VIE decreased from $4,774 as of December 31, 2024, to $3,192 as of September 30, 2025, a decline of 33.2%[35] Shareholder Information - The number of Class A ordinary shares outstanding increased from 632,894,266 as of December 31, 2024, to 653,561,413 as of September 30, 2025[17] - The total number of Class A ordinary shares outstanding as of September 30, 2025, was 726,595,513[22] - The company repurchased 7,991,370 Class A ordinary shares for $155,000 during the period[22] - The company repurchased approximately 85.066 million Class A ordinary shares for about $5.7 million, representing 13.0% of the outstanding Class A shares[129] Cash Flow - Cash flows from operating activities for the nine months ended September 30, 2025 showed a net cash used of $2,032, a significant decline from the net cash provided of $1,704 in 2024[25] - The company reported a net cash used in investing activities of $3,185 for the nine months ended September 30, 2025, compared to a net cash used of $2,975 in 2024, indicating a 7.0% increase in cash outflow[25] - The company experienced a decrease in cash and cash equivalents and restricted cash, ending the period with $31,994 compared to $38,378 at the end of September 2024, reflecting a 16.5% decline[25] Acquisitions and Investments - The Company acquired Truckers Best Insurance LLC for a total purchase consideration of $2,826, which includes $1,000 in cash and $1,826 in contingent consideration[74] - TBI generated net revenue of $50 and a net loss of $735 for the three months ended September 30, 2025, since the acquisition[80] - The fair value of intangible assets acquired from TBI includes $582 for licenses and carrier appointments and $241 for customer relationships[79] - Goodwill from the TBI acquisition amounted to $1,997, attributed to expected synergies and future market development[82] Stock-Based Compensation - Stock-based compensation for the quarter ending June 30, 2025, amounted to $28,000[22] - The total share-based compensation expense for the three months ended September 30, 2025, is $165, down from $274 in the same period of 2024[112] - For the nine months ended September 30, 2025, the total share-based compensation expense is $539, compared to $1,599 for the same period in 2024[112] - The total unrecognized share-based compensation expense related to share options as of September 30, 2025, is $109, expected to be recognized over a weighted-average vesting period of 2.67 years[102] International Operations - The United States contributed $52.573 billion to total operating revenues for the nine months ended September 30, 2025, up from $43.330 billion in 2024, a growth of 21.5%[124] - International revenues increased to $5.128 billion for the nine months ended September 30, 2025, from $2.668 billion in 2024, marking a significant growth of 92.0%[124] Accounting and Compliance - The Company is evaluating the impact of new accounting standards on its consolidated financial statements, including ASU 2025-05 and ASU 2025-06[71][72] - The company has a full valuation allowance against U.S. federal and state net operating losses, which may be subject to annual limitations under IRC Section 382[127]
Moatable(MTBL) - 2025 Q3 - Quarterly Report