Core Insights - Bright Mountain Media, Inc. reported a year-to-date revenue of $43.5 million, an increase of $3.9 million or 10% compared to the same period in 2024 [4][2] - The company's Q3 revenue was $13.9 million, slightly down from $14.2 million in Q3 2024, attributed to market challenges such as inflation and conservative advertising spending [2][5] - The advertising technology division is a key growth driver, leveraging proprietary platforms to connect premium advertisers with high-quality Connected TV inventory [2] Financial Performance - For the nine months ended September 30, 2025, revenue was $43.5 million, up from $39.6 million in the same period of 2024 [4] - Advertising technology revenue for the first nine months was approximately $14.4 million, while digital publishing revenue was about $1.2 million, consumer insights revenue was approximately $20.7 million, creative services revenue was around $4.7 million, and media services revenue was about $2.4 million [4] - Q3 cost of revenue was $9.7 million, a slight decrease from $9.8 million in Q3 2024, with general and administrative expenses at $4.1 million, down 7% from $4.4 million [5][6] Profitability Metrics - Gross margin for Q3 was $4.3 million, a decrease of 3% compared to $4.4 million in Q3 2024 [5] - The net loss for Q3 was $2.8 million, an improvement of 13% from a net loss of $3.3 million in the same period of 2024 [5] - Adjusted EBITDA for Q3 was $1.3 million, a significant improvement of 66% compared to $804,000 in Q3 2024 [5][20] Cost Structure - Total cost of revenue for the nine months ended September 30, 2025, was $32.0 million, an increase of $3.3 million or 12% compared to $28.7 million in the same period of 2024 [6] - The breakdown of costs includes direct salary and labor costs of approximately $5.2 million, direct project costs of about $10.9 million, and publisher costs of approximately $10.5 million [6] Company Overview - Bright Mountain Media, Inc. operates a diverse portfolio of companies providing advertising, marketing, technology, and media services [7] - The company focuses on data-driven insights to enhance its service offerings and establish partnerships with reputable publishers and streaming platforms [2][7]

Core Insights - Barfresh Food Group Inc. reported an 11% year-over-year revenue increase to $1.6 million for the second quarter of 2025, driven by expanded manufacturing capacity [4][3] - The company achieved a gross margin of 31.1% for the second quarter of 2025, down from 34.8% in the same period of 2024, attributed to product mix and new manufacturer trial costs [5][4] - Barfresh expects revenue and gross margin improvements in the second half of 2025, following the completion of equipment installation by a new co-manufacturer [2][13] Financial Performance - Revenue for the second quarter of 2025 was $1.625 million, compared to $1.464 million in the second quarter of 2024 [10] - The net loss for the second quarter of 2025 was $880,000, an improvement from a loss of $1.0 million in the second quarter of 2024 [6][10] - Adjusted EBITDA for the second quarter of 2025 was a loss of approximately $600,000, compared to a loss of $682,000 in the same quarter of 2024 [7][10] Operational Developments - The company has completed equipment installation with its new co-manufacturer, which is expected to resolve previous operational inefficiencies and logistics costs [3][2] - Barfresh is focused on building consistent production capabilities to better serve its customers, particularly in the education channel [3][2] - The company is revising its fiscal year 2025 revenue guidance to a range of $12.5 million to $14.0 million, down from a previous range of $14.5 million to $16.6 million [14][13] Future Outlook - Management remains confident in achieving double-digit year-over-year revenue growth for the full year, despite adjusting expectations due to operational challenges [3][13] - Investments in manufacturing capacity and operational improvements are aimed at creating a scalable platform for future growth [3][2] - The company anticipates being better positioned to capitalize on market opportunities as production capacity stabilizes [3][13]