Company: ACCS
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0000843006-25-000025
Chunk: 89

Company: ACCESS Newswire Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 8
Chunk 89
---

 (1)This adjustment gives effect to one-time corporate projects, including acquisition, divestiture and integration related expenses, incurred during the periods. (2)For the three months ended March 31, 2025, this adjustment gives effect to the change in fair value of our interest rate swap of $69,000 as well as corporate re-brand costs of $132,000 and non-recurring accounting fees of $35,000. For the three months ended March 31, 2024, this adjustment gives effect to the change in fair value of our interest rate swap of $205,000, partially offset by non-recurring accounting costs of $35,000.  (3)The adjustments represent stock-based compensation expense from continuing operations related to awards of stock options, restricted stock units, or common stock in exchange for services. Although we expect to continue to award stock in exchange for services, the amount of stock-based compensation is excluded as it is subject to change as a result of one-time or non-recurring projects. For the three months ended March 31, 2024, this amount includes a benefit as a result of the resignation of an executive officer.

A reconciliation of net income to adjusted net income for the three months ended March 31, 2025 and 2024 is presented in the following table (in 000’s):

  Three Months Ended March 31,    2025  2024   Amount  Per diluted share  Amount  Per diluted share              Net loss from continuing operations: $(765) $(0.20 ) $(783 ) $(0.21 )Adjustments:                Amortization of intangible assets(1)  630   0.16   643   0.17 Stock-based compensation expense(2)  203   0.05   (79 )  (0.02 )Other unusual items(3)  365   0.09   (105 )  (0.03 )Discrete items impacting income tax expense(4)  25   0.01   55   0.01 Tax impact of adjustments(5)  (252 )  (0.06 )  (96 )  (0.02 )Non-GAAP net income (loss) from continuing operations: $206   0.05  $(365 )