Vaso Corporation Announces Financial Results for Fourth Quarter and Full Year 2025

Core Insights - Vaso Corporation reported a record annual revenue of $89.1 million for fiscal year 2025, marking a 3% increase from the previous year despite the sale of its healthcare IT business unit [2][7] - The company achieved a gross profit of $54.7 million, up 5% year-over-year, and net income increased to $1.6 million from $951 thousand in 2024, driven by higher gross profit and tax benefits [2][10] - Operating cash flow was strong at $9.3 million, with cash and cash equivalents totaling $35.1 million as of December 31, 2025 [2][12] Financial Performance Overview - For the three months ended December 31, 2025, revenue was $27.0 million, unchanged from the same quarter in 2024, with a 7.9% decline in the IT segment due to the sale of the healthcare IT business [3][6] - Gross profit for Q4 2025 increased by 2.3% to $17.6 million, attributed to a higher gross margin [4] - SG&A expenses rose by 5.9% to $15.5 million in Q4 2025, primarily due to increased personnel and travel costs [5] Yearly Financial Results - Total revenue for the year ended December 31, 2025, increased by $2.3 million, or 2.7%, compared to 2024 [7] - IT segment revenue decreased by 1.1% to $42.5 million, while professional sales service segment revenue increased by 6.9% to $44.2 million [7][8] - SG&A expenses for the year increased by 6.6% to $52.2 million, representing 58.6% of total revenue [9] Profitability Metrics - Net income for the year was $1.6 million, an increase of $618 thousand from 2024, mainly due to higher gross profit and tax benefits [10] - Adjusted EBITDA for the year was negative $1.5 million, a decline from $1.0 million in 2024, primarily due to lower operating income [11] - Deferred revenue increased to $38.6 million as of December 31, 2025, reflecting strong order bookings in the professional sales service segment [13]