Aether Holdings, Inc. reported its financial results for the nine months ended June 30, 2025, showing a decrease in total revenue by 4.4% to $1.04 million, compared to $1.09 million in the prior year. For the three months ended June 30, 2025, revenue declined by 4.0% to $342,411 from $356,688 in the comparative period. This revenue dip was primarily attributed to a decrease in Paid Subscribers following the expiration of a promotional campaign in October 2023.
Despite stable gross profit margins of 69.2% for the nine months and 69.9% for the three months, operating expenses surged significantly. Selling and marketing expenses increased by 116.1% to $221,848 for the nine months, driven by IPO-related activities and recent advertising campaigns. General and administrative expenses rose by 84.0% to $2.26 million, mainly due to higher professional fees for the IPO and increased executive and director compensation.
These elevated costs, combined with the revenue decline, led to a substantial increase in net loss. The net loss widened to $1.72 million for the nine months ended June 30, 2025, compared to $575,072 in the prior year. The three-month period recorded a net loss of $1.01 million, up from $298,858.
Post-IPO, Aether's liquidity position improved, with cash and cash equivalents totaling $6.23 million as of June 30, 2025, up from $557,823 at September 30, 2024. This resulted in a positive working capital of $5.93 million, providing capital for ongoing operations, R&D, and the recently announced Bitcoin treasury strategy. The company's Price-to-Sales ratio of 44.95 is significantly higher than competitors, suggesting market expectations for substantial future growth despite current profitability challenges.
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