Company: BLNE
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023462
Chunk: 152

Company: Beeline Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 152
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, and $0.1 million and $0.5 million for the three and nine months ended September 30, 2024, respectively.

General
and administrative expenses. General and administrative expenses consist primarily of public company costs professional fees,
board compensation and rent. General and administrative expenses were $0.7 million and $3.5 million for the three and nine months ended
September 30, 2025, respectively, and $0.3 million and $0.6 million for the three and nine months ended September 30, 2024, respectively.

Depreciation
and amortization. Depreciation and amortization expenses consist primarily of amortization related to the intangible asset of
the customer list and were $24,563 and $0.1 million for the three and nine months ended September 30, 2025, respectively.

Marketing
and advertising. Marketing and advertising were $0 and $12,082 for three and nine months ended September 30, 2025, respectively.

41

Other
operating expenses. Other operating expenses consist of software service providers and were $24,810 and $0.1 million for the three
and nine months ended September 30, 2025, respectively.

Non-GAAP
Financial Measure

We
report adjusted EBITDA, which is a financial measure not prepared in accordance with generally accepted accounting principles (“non-GAAP”)
that supplements our financial results presented in accordance with GAAP. This non-GAAP financial measure should not be considered in
isolation and is not intended to be a substitute for any GAAP financial measures, but rather provides supplemental information that we
believe helps investors better understand our business, our business model, and how we analyze our performance.

Non-GAAP
financial measures have limitations in their usefulness to investors because they have no standardized meaning and are not prepared under
any comprehensive set of accounting rules or principles. Accordingly, other companies, including companies in our industry, may calculate
similarly titled non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could
reduce the usefulness of our non-GAAP financial measures as tools for comparison.

We
include a reconciliation of adjusted EBITDA to GAAP net loss, its most closely comparable GAAP measure. We encourage investors and others
to review our condensed consolidated financial statements and notes thereto in their entirety included elsewhere in this quarterly report
on Form 10-Q, not to rely on any single financial measure,