Company: ATLN
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001605888-25-000055
Chunk: 86

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 86
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 2025 and 2024 was $97,725,227 and $95,918,373, respectively, an increase of $1,806,854 or 1.9%. The increase in cost of revenue was due primarily to higher service revenue, net driven primarily by higher temporary placement services revenue, which increased $2,034,230 or 1.9%. Gross profit for the three months ended September 30, 2025 and 2024 was $12,401,976 and $11,885,470, respectively, an increase of $516,506 or 4.3%. As a percentage of service revenue, net, gross profit was 11.3% and 11.0% for the three months ended September 30, 2025 and 2024, respectively, which increased due to the Company’s initiative to sell higher margin accounts.

Cost of revenue for the nine months ended September 30, 2025 and 2024 was $280,826,211 and $279,222,830, respectively, an increase of $1,603,381 or 0.6%, essentially flat on year-to-date over year-to-date basis. Gross profit for the nine months ended September 30, 2025 and 2024 was $35,006,792 and $33,840,498, respectively, an increase of $1,166,294 or 3.4%. As a percentage of service revenue, net, gross profit was 11.1% and 10.8% for the nine months ended September 30, 2025 and 2024, respectively, which increased due to the Company’s initiative to sell higher margin accounts.

26

Total Operating Expenses

Total operating expenses for the three and nine months ended September 30, 2025 and 2024 consisted of the following:

 Three Months EndedSeptember 30,Nine Months EndedSeptember 30, 2025202420252024Selling, general and administrative$19,888,692 $17,151,567 $58,158,706 $46,045,754 Depreciation and amortization1,230,307 1,245,557 3,699,446 3,754,165 Total operating expenses$21,118,999 $18,397,124 $61,858,152 $49,799,919 

The changes in each financial statement line item for the respective periods