Company: ORBS
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023549
Chunk: 104

Company: Eightco Holdings Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 104
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, compared to $(3,262,376) for the three months ended September 30, 2024. The increased loss is primarily attributable to the
adoption of the Digital Asset Treasury strategy and the resulting fair value losses recognized during the period, as well as lower gross
profit and higher SG&A expenses as well as asset write-downs due to the exiting of the liquidation business model for Forever 8.

Income
tax expense

Income
tax expense was $0 for both periods presented. The Company continues to maintain a full valuation allowance on its net deferred tax assets.

Net
income (loss)

Net
loss from continuing operations was $(25,844,216) for the three months ended September 30, 2025, compared to $(3,177,373) for the three
months ended September 30, 2024.

34

Nine
Months Ended September 30, 2025 versus Nine Months Ended September 30, 2024

The
following table sets forth information comparing the components of net (loss) income for the nine months ended September 30, 2025 and
2024:

    Nine months Ended September 30,  
    Period over Period Change 

    2025  
    2024  
    $  
    % 

    Revenues, net 
    $22,793,160  
    $19,298,336  
    $3,494,824  
     18.11%
  
    Cost of revenues 
     20,930,455  
     14,980,682  
     5,949,773  
     39.71%
  
    Gross profit 
     1,862,705  
     4,317,654  
     (2,454,949) 
     -56.85%

    Operating expenses: 

    Selling, general and administrative 
     10,683,465  
     9,614,684  
     1,068,781  
     11.11%
  
    Restructuring and severance 
     -  
     1,414,838  
     (1,414,838) 
     -100.00%
  
    Impairment 
     -  
     -  
     -  
     0.00%
  
    Total operating expenses 
     10,683,