Company: ATLN
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001605888-25-000055
Chunk: 84

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 84
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,833,003 $313,063,328 $2,769,675 0.9%Cost of revenue280,826,211 279,222,830 1,603,381 0.6%Gross profit35,006,792 33,840,498 1,166,294 3.4 %Selling, general and administrative58,158,706 46,045,754 12,112,952 26.3%Depreciation and amortization3,699,446 3,754,165 (54,719)(1.5)%Loss from operations(26,851,360)(15,959,421)(10,891,939)68.2 %Loss on debt extinguishment— 1,213,379 (1,213,379)(100.0)%Advisory fees paid in the merger— 43,000,000 (43,000,000)(100.0)%Interest expense5,402,959 10,494,818 (5,091,859)(48.5)%Other expense— 15,893,220 (15,893,220)(100.0)%Net loss before provision for income taxes(32,254,319)(86,560,838)54,306,519 (62.7)%Income tax (expense)/benefit(28,379)19,732,646 (19,761,025)+Net loss$(32,282,698)$(66,828,192)$34,545,494 (51.7)%Net loss per share, basic and diluted$(0.59)$(2.04)$1.45 (71.1)%Weighted average shares outstanding, basic and diluted54,553,94532,774,83721,779,10866.5 %

+ -     change greater than ± 100%

25

Service Revenue, Net

Service revenue, net of discounts, for the three and nine months ended September 30, 2025 and 2024 consisted of the following:

 Three Months EndedSeptember 30,Nine Months EndedSeptember 30, 2025202420252024Temporary placement services$108,804,521 $106,770,291 $312,664,321 $310,340,859 Permanent placement and other services1,322,682 1,033,552 3,168,