Company: ATLN
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001605888-25-000031
Chunk: 114

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 114
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 Company’s disaggregated revenues are as follows: Three Months EndedJune 30,Six Months EndedJune 30, 2025202420252024Temporary placement services$102,033,461 $103,897,666 $203,859,800 $203,570,568 Permanent placement and other services863,532 738,607 1,846,000 1,688,917 Total service revenues, net$102,896,993 $104,636,273 $205,705,800 $205,259,485 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 June 30, 2025 and June 30, 2024, revenues from the Company’s largest customer accounted for approximately 9% and 14% of consolidated revenues, respectively and 11% and 14% of consolidated revenues for the six months ended June 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 asset consists of unbilled accounts receivable of $9,413,403 and $9,368,565 as of June 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: June 30,2025December 31,2024Accounts receivable$48,923,255 $66,800,444 Allowance for doubtful accounts(2,205,540)(2,726,107)Accounts receivable, net$46,717,715 $64,074,337 The Company’s accounts receivable serves as collateral for the Revolver and the Term Note has a second lien after the Revolver.The Company recognized no bad debt expense during the periods ended June 30, 2025 and June 30, 2024, respectively

None of the Company’s customers accounted for more than 10% of the Company’s accounts receivable as of June 30, 2025 and