Vaso Corporation Announces Financial Results for Third Quarter of 2025
Globenewswire·2025-11-14 14:00

Core Insights - Vaso Corporation reported a total revenue of $22.7 million for Q3 2025, marking a 9.1% increase from $20.8 million in Q3 2024, with contributions from all business segments [2][3] - The company achieved a net income of $1.7 million in Q3 2025, a significant turnaround from a net loss of $1.2 million in the same quarter last year, reflecting improved revenue and lower operating expenses [2][6] - Cash generated from operating activities was $2.8 million for Q3 2025, with cash and cash equivalents totaling $34.9 million at the end of the quarter, indicating a strong balance sheet [2][8] Financial Performance - Total revenue for Q3 2025 increased by $1.9 million, with professional sales services segment revenue rising by 18.7% to $10.8 million, driven by higher equipment delivery volumes [3] - IT segment revenue grew by 1.2% to $11.5 million, while equipment segment revenue increased by 8.0% to $0.6 million, primarily due to higher ARCS software subscription revenue [3] - Gross profit for Q3 2025 rose by 18.2% to $13.9 million, up from $11.8 million in Q3 2024, attributed to higher revenues and margins [4] Operating Expenses and Income - Selling, general and administrative (SG&A) expenses increased by 7.0% to $12.2 million, mainly due to higher personnel costs in IT and professional sales services [5] - Operating income for Q3 2025 was $1.5 million, compared to an operating loss of $1.4 million in Q3 2024, reflecting improved gross profit across all segments [6] - Adjusted EBITDA for Q3 2025 was $1.6 million, a significant improvement from a negative $1.2 million in Q3 2024, driven by increased net income [7][16] Balance Sheet Highlights - As of September 30, 2025, total current assets were $51.9 million, and total assets reached $84.5 million, indicating growth in the company's asset base [17] - Total current liabilities decreased to $31.6 million from $34.7 million, while total stockholders' equity increased to $28.2 million from $27.7 million [17]