Company: LDWY
Filing Date: 2025-08-28
Form Type: 10-KT
Source: 0001558370-25-011807
Chunk: 27

Company: LENDWAY, INC.
Filing Date: 2025-08-28
Form: 10-KT
Chunk 27
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 transition period from January 1, 2025 to June 30, 2025. The calendar years ended December 31, 2024 and 2023 continue to reflect financial results for the twelve-month periods from January 1 to December 31.

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Results of Operations The following tables set forth, for the periods indicated, certain items in our consolidated statements of operations as a percentage of total net revenue. Six Months Ended June 30, 2025 Compared to Six Months Ended June 30, 2024

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 Six Months Ended 
 June 30,         
 2025             
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 2024        
 (unaudited) |          ​ | ​ 
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 Increase (Decrease) from 2024 to 2025 
 Amount                                
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 Percent 
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|:----------------------------------------------------------------|:--|:-----------------|-----------:|:--|:------------|-----------:|:--|:--------------------------------------|-----------:|:--|--------:|:--|
| Revenue, net                                                    | ​ | $                | 35,622,000 | ​ | $           | 24,953,000 | ​ | $                                     | 10,669,000 | ​ |      43 | % |
| Cost of goods sold                                              | ​ |                  | 26,342,000 | ​ |             | 19,303,000 | ​ |                                       |  7,039,000 | ​ |      36 | ​ |
| Gross profit                                                    | ​ |                  |  9,280,000 | ​ |             |  5,650,000 | ​ |                                       |  3,630,000 | ​ |      64 | ​ |
| Gross profit as a percent of revenue                            | ​ |                  |       26.1 | % |             |       22.6 | % |                                       |          ​ | ​ |       ​ | ​ |
| Sales, general and administrative expenses                      | ​ |                  |  5,363,000 | ​ |             |  7,129,