Company: ATLN
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001605888-25-000055
Chunk: 83

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 83
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 left to local managers. As a result, employment services firms with a large network of offices compete most effectively for this business, which generally has agreed-upon pricing or mark-up on services performed.

Results of Operations

The following discussion summarizes the key factors Atlantic’s management team believes are necessary for an understanding of Atlantic’s financial statements.

Comparison of the Three and Nine Months Ended September 30, 2025 and 2024:

Certain related party and non-related party financial statement line-item amounts have been aggregated for purposes of analysis below, which is consistent with management’s evaluation of its business results.

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The following table summarizes our results of operations for the periods presented:

 Three Months EndedSeptember 30,Change  20252024Amount Percent Service revenue, net$110,127,203 $107,803,843 $2,323,360 2.2%Cost of revenue97,725,227 95,918,373 1,806,854 1.9%Gross profit12,401,976 11,885,470 516,506 4.3 %Selling, general and administrative19,888,692 17,151,567 2,737,125 16.0%Depreciation and amortization1,230,307 1,245,557 (15,250)(1.2)%Loss from operations(8,717,023)(6,511,654)(2,205,369)33.9 %Interest expense2,094,177 1,472,564 621,613 42.2 %Other expense— 285,483 (285,483)(100.0)%Net loss before provision for income taxes(10,811,200)(8,269,701)(2,541,499)30.7 %Income tax (expense)/benefit(9,144)1,220,072 (1,229,216)+Net loss$(10,820,344)$(7,049,629)$(3,770,715)53.5 %Net loss per share, basic and diluted$(0.20)$(0.16)$(0.04)25.0 %Weighted average shares outstanding, basic and diluted55,119,78144,688,84528,551,84623.3 %

 Nine Months EndedSeptember 30,Change  20252024Amount Percent Service revenue, net$315