Signing Day Sports Announces Selected Financial Results for Quarter Ended June 30, 2025, and Provides Business Update

Core Viewpoint - Signing Day Sports, Inc. has made significant progress in strengthening its financial position, with a focus on reducing liabilities and improving cash reserves, despite a consistent net loss year-over-year [3][4]. Financial Performance - As of June 30, 2025, total assets were approximately $1.4 million, exceeding total liabilities of approximately $1.1 million [2]. - Accounts payable decreased by 69.8% compared to December 31, 2024, and the company has fully repaid its outstanding loans [2]. - Cash and cash equivalents increased to approximately $657 thousand from approximately $181 thousand at December 31, 2024 [2]. - Revenue for the quarter ended June 30, 2025, was approximately $67 thousand, down from approximately $205 thousand in the same period of 2024, attributed to a decrease in event fee payments [4]. - Cost of revenues was approximately $5 thousand for the quarter, a decrease from approximately $62 thousand in the prior-year period, mainly due to reduced development labor costs [4]. - General and administrative expenses rose to approximately $1.6 million for the quarter, compared to approximately $1.3 million in the second quarter of 2024, driven by increased non-legal professional fees and salaries [5]. - The net loss for the quarter was $1.4 million, slightly higher than the net loss of approximately $1.3 million for the same period in 2024 [5]. Business Strategy - The company's primary goal for 2025 was to strengthen its financial foundation by reducing accounts payable and preserving cash, which has been successfully achieved [3]. - Streamlined operations and disciplined cost management are central to the company's strategy as it aims to improve long-term financial performance [3]. Company Overview - Signing Day Sports, Inc. focuses on aiding high school athletes in the recruitment process through its app, which allows athletes to create recruitment profiles with essential information for college coaches [7].