Company: ATLN
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001605888-25-000031
Chunk: 44

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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holders’ (deficit) Preferred stock, $0.00001 par value; 20,000,000 shares authorized and none issued at June 30, 2025 and December 31, 2024, respectively— — Common stock, $0.00001 par value; 300,000,000 shares authorized; 54,563,259 and 53,130,946 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 546 531 Additional paid-in capital 138,477,283 123,462,703 Accumulated deficit (156,942,244)(135,479,890)Total stockholders’ (deficit) (18,464,415)(12,016,656)Total liabilities and stockholders’ (deficit) $106,763,640 $119,751,676 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

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Table of Contents    

ATLANTIC INTERNATIONAL CORP. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Service revenue, net$102,896,993 $104,636,273 $205,705,800 $205,259,485 Cost of revenue91,478,299 93,146,627 183,100,984 183,304,457 Gross profit11,418,694 11,489,646 22,604,816 21,955,028 Selling, general and administrative18,870,535 18,553,150 38,270,014 28,894,187 Depreciation and amortization1,232,750 1,249,054 2,469,139 2,508,608 (Loss) income from operations(8,684,591)(8,312,558)(18,134,337)(9,447,767)Loss on debt extinguishment— 1,213,379 — 1,213,379 Advisory fees paid in the merger— 43,000,000 — 43,000,000 Interest expense2,023,960 4,000,024 3,308,782 9,022,