Company: ATLN
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001605888-25-000055
Chunk: 116

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 116
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 2026 and interim periods for the quarterly reporting period March 31, 2027.The Company does not believe any other recently issued but not yet effective accounting pronouncements will have a material effect on its consolidated financial statements.

Note 4: Revenue Recognition and Accounts ReceivableThe Company’s disaggregated revenues are as follows: Three Months EndedSeptember 30,Nine Months EndedSeptember 30, 2025202420252024Temporary placement services$108,804,521 $106,770,291 $312,664,321 $310,340,859 Permanent placement and other services1,322,682 1,033,552 3,168,682 2,722,469 Total service revenues, net$110,127,203 $107,803,843 $315,833,003 $313,063,328 When disaggregating revenue, the Company considered all of the economic factors that may affect its revenues. Because all its revenues are from placement services, there are no differences in the nature, timing and uncertainty of the Company’s revenues and cash flows from its revenue generating activities. For the three months ended September 30, 2025 and September 30, 2024, revenues from the Company’s largest customer accounted for approximately 5% and 14% of consolidated revenues, respectively and 9% and 14% of consolidated revenues for the nine months ended September 30, 2025 and 2024, respectively. No other customers accounted for more than 10% of the Company’s consolidated revenues in either period. Economic factors specific to this customer could impact the nature, timing and uncertainty of the Company’s revenues and cash flows.Contract assets consists of unbilled accounts receivable of $12,406,011 and $9,368,565 as of September 30, 2025 and December 31, 2024, respectively. Accounts receivable are uncollateralized customer obligations due under normal trade terms requiring payment upon receipt of invoice.Accounts receivable is as follows: September 30,2025December 31,2024Accounts receivable$50,092,418 $66,800,444 Allowance for doubtful accounts(2,640,971)(2,726,107)Accounts receivable, net$47,451,447 $64,074,337 The Company’s accounts receivable serves as collateral for the Revolver and the Term Note has a second lien after the Rev