Company: ACCS
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000843006-25-000012
Chunk: 661

Company: ACCESS Newswire Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 4
Chunk 661
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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. The decrease is primarily due to a 15% decrease in revenue from our previously branded Newswire business due to a decrease in volume. Revenue from our investor relations website subscriptions and webcasting and events business decreased slightly as well.

Deferred Revenue

As of December 31, 2024, our deferred revenue balance was $4,743,000, which we