Company: ACCS
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0000843006-25-000041
Chunk: 54

Company: ACCESS Newswire Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 2
Chunk 54
---
 and marketing expenses were 26% and 28% for the three and six months ended June 30, 2025, respectively, as compared to 32% and 35% for the same periods of 2024.

Product Development Expenses

Product development expenses consist primarily of salaries, stock-based compensation, bonuses, and licenses to develop new products and technology to complement and/or enhance our platform. Product development expenses decreased $64,000, or 9%, during the three months ended June 30, 2025, as compared to the same period of 2024 and remained consistent for the six months ended June 30, 2025, as compared to the same period of the prior year. The decrease for the three months ended June 30, 2025 was due to lower headcount and consulting costs.  This decrease was offset by a decrease in capitalized software for the six months ended June 30, 2025, as the Company only capitalized $23,000 of software, compared to $400,000 during the same period of the prior year. The Company did not capitalize any costs for software development during the three months ended June 30, 2025, compared to $155,000 during the same period of the prior year

As a percentage of revenue, product development expenses were 12% and 13% for the three and six months ended June 30, 2025 compared to 12% for the same periods of 2024.

Interest Income (Expense), Net

We recognized interest expense of $54,000 and $268,000 for the three and six-month period ended June 30, 2025, respectively, as compared to $315,000 and $623,000 during the same periods of 2024, which is all related to our long-term credit agreement. The decrease in interest expense for the three and six months ended June 30, 2025 is due to the reduction in debt as a result of the pay down from the sale of the compliance business. These amounts are offset by interest income on deposit and money market accounts of $65,000 and $83,000 for the three and six months ended June 30, 2025 and 2024, respectively, compared to $21,000 and $53,000 for the same periods of the prior year.

 23Table of Contents

Other income (expense)

Other income (expense) represents the change in fair value of our interest rate swap.  

Income Taxes

We