Agape ATP Corporation delivered a QQ1 2025 quarter marked by a revenue decline and continued losses, despite a robust liquidity position. Revenue stood at 289,037 (USD thousands, per filing) for Q1 2025, down -9.29% year over year and -19.66% quarter over quarter, while gross margin remained a healthy 54.07% (156,286 gross profit on 289,037 revenue). However, operating loss of -720,000 and net loss of -699,000 led to an EPS of -0.18 for the quarter. The negative profitability is driven by elevated SG&A levels (General & Administrative 805,693 and Selling, General & Administrative 876,690) that overwhelmed the gross profit, resulting in EBITDA of -669,000 and an EBIT of -720,000. On the balance sheet, Agape ATP shows a liquidity surplus with total current assets of 24,780,025 and cash/cash equivalents of 578,794, supported by substantial short-term investments of 23,301,287. The company reports a surprisingly strong current ratio of 24.67 and a net debt position of -256,049, reflecting net cash after debt. Financing activity contributed +22,994,658 cash via common stock issuance (23,000,000), while investing activity consumed -23,000,649, contributing to a negative free cash flow of -1,454,523 and a negative operating cash flow of -1,453,874 for the quarter. In the absence of formal forward guidance, the near-term focus appears to be stabilizing profitability and converting the cash runway into revenue growth, potentially leveraging BEAUNIQUE, ENERGETIQUE, and related health/wellness programs. Management commentary from the QQ1 2025 call is not available in the provided data, limiting quotes to cite in this section. Investors should monitor expense discipline, product-line performance, and execution of growth initiatives to assess the potential for margin expansion and deleveraging if operating cash flow improves.