1. Revenue Performance:
- Revenue of $58.9 million, up 5.96% YoY and down from $59.5 million in Q3 2024.
- Cost of revenue recorded at $27.8 million, leading to a gross profit of $31.1 million, but the gross profit margin decreased to 52.76%.
2. Profitability Metrics:
- Operating income improved significantly at $3.2 million (Operating income Ratio: 5.52%), a massive increase compared to a loss of $670,000 in Q3 2024 but overshadowed by escalating losses due to other expenses.
- The company reported a net income of -$254.6 million, reflecting a drastic 41,766.61% decline in profitability YoY.
- The EBITDA loss was $267.1 million, indicating operational inefficiencies.
3. Balance Sheet and Cash Flow:
- Cash and cash equivalents at period-end are $28.2 million, slightly decreased from $28.4 million at the start of the period.
- Despite a negative net income, net cash provided by operating activities was positive at $12.9 million, suggesting strong operational cash flow generation from core activities.