Company: ACCS
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000843006-25-000012
Chunk: 605

Company: ACCESS Newswire Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 3
Chunk 605
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 from continuing operations only and does not include results from discontinued operations.  For more information regarding continuing and discontinued operations, see Note 3 to our Consolidated Financial Statements for the year ended December 31, 2024.

 23Table of Contents

Comparison of results of operations for the years ended December 31, 2024 and 2023 (in 000’s):

      Percentage of Revenue   2024  2023  2024  2023 Revenues $23,057  $24,522       Cost of revenue  5,617   5,607   24%  23%Gross margin  17,440   18,915   76%  77%Operating Expenses:                General and administrative  7,000   8,354   30%  34%Sales and marketing  7,080   8,028   31%  33%Product development  2,821   2,544   12%  10%Depreciation and amortization  2,708   2,728   12%  11%Impairment loss on intangible assets  14,150   —   61%  — Total operating expenses  33,759   21,654   146%  88%Operating loss  (16,319 )  (2,739 )  (71 )%  (11 )%Interest expense, net  (1,107 )  (1,249 )  (5 )%  (5 )%Other income (expense)  81   (391 ) —%   (2 )%Loss before income taxes  (17,345 )  (4,379 )  (75 )%  (18 )%Income tax benefit  (4,064 )  (938 )  (18 )%  (4 )%Net loss from continuing operations $(13,281 ) $(3,441 )  (58 )%  (14 )%

Revenues

Total revenue decreased by $1,465,000, or 6%, to $23,057,000 during the year ended December 31, 2024, as compared to $24,522,000 in 2023.