Company: ATLN
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001605888-25-000055
Chunk: 141

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 141
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Net loss before provision for income taxes(32,254,319)(86,560,838)54,306,519 (62.7)%Income tax (expense)/benefit(28,379)19,732,646 (19,761,025)+Net loss$(32,282,698)$(66,828,192)$34,545,494 (51.7)%Net loss per share, basic and diluted$(0.59)$(2.04)$1.45 (71.1)%Weighted average shares outstanding, basic and diluted54,553,94532,774,83721,779,10866.5 %

+ -     change greater than ± 100%

25

Service Revenue, Net

Service revenue, net of discounts, for the three and nine months ended September 30, 2025 and 2024 consisted of the following:

 Three Months EndedSeptember 30,Nine Months EndedSeptember 30, 2025202420252024Temporary placement services$108,804,521 $106,770,291 $312,664,321 $310,340,859 Permanent placement and other services1,322,682 1,033,552 3,168,682 2,722,469 Total service revenues, net$110,127,203 $107,803,843 $315,833,003 $313,063,328 

Service revenue, net was $110,127,203 and $107,803,843 for the three months ended September 30, 2025 and 2024, respectively, an increase of $2,323,360, or 2.2%. This increase was predominately due to higher revenues from the Company’s temporary placement services business, which increased $2,034,230 or 1.9% in the three months ended September 30, 2025 as compared to the same period in 2024 due primarily a strong sales initiative by the Company. Permanent placement and other services increased $289,130 or 28.0% due to strong demand from our current clients.

Service revenue, net was $315,833,003 and $313,063,328 for the nine months ended September 30, 2025 and 2024, respectively, an increase of $2,769,675, or 0.9%. The Company’s temporary placement services business, slightly increased $2,323,