Company: ACCS
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000843006-25-000012
Chunk: 555

Company: ACCESS Newswire Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 2
Chunk 555
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13,281 ) $(3.47 ) $(3,441 ) $(0.90 )                 Adjustments:                                 Impairment loss on intangible assets(1)  14,150   3.70   —   — Amortization of intangible assets(2)  2,559   0.67   2,559   0.67 Stock-based compensation expense(3)  728   0.19   1,365   0.35 Other unusual items(4)  327   0.08   982   0.26 Tax impact of adjustments(5)  (3,730 )  (0.97 )  (1,030 )  (0.27 )Impact of discrete items impacting income tax expense(6)  38   0.01   103   0.03 Non-GAAP net income: $791  $0.21  $538  $0.14 Weighted average number of common shares outstanding – diluted  3,829       3,816     

 (1)This adjustment represents the impairment loss on intangible assets that was recognized for the year ended December 31, 2024. (2)The adjustments represent the amortization of intangible assets related to acquired assets and companies. (3)The adjustments represent stock-based compensation expense 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. (4)For the year ended December 31, 2024, this adjustment gives effect to a gain recorded on the change in fair value of our interest rate swap of $81,000, as well as, one-time accounting fees, termination benefits and other non-recurring or unusual expenses, including acquisition and/or integration expenses of $408,000. For the year ended December 31, 2023, this adjustment gives effect to $370,000 payment related to early extinguishment of our Seller Note and one-time non-recurring expenses, including acquisition and/or integration expenses of $591,000 and a loss on the change in fair value of our interest rate swap of $