Vaso Corporation announced its operating results for the second quarter ended June 30, 2025, with total revenue slightly decreasing by 1% year-over-year to $19.96 million. The professional sales service segment experienced a 4% decline in commission revenues to $8.74 million, primarily due to lower diagnostic imaging equipment deliveries by GEHC, while the IT segment saw a modest 1% increase to $10.68 million.
The company shifted to an operating loss of $421,000 in Q2 2025, compared to an operating income of $996,000 in Q2 2024. This was primarily due to a 3% decrease in gross profit to $11.80 million and an 11% increase in selling, general, and administrative (SGA) costs. Consequently, Vaso reported a net loss of $197,000 for the second quarter.
For the first half of 2025, total revenue increased by a modest 1% to $39.42 million, but the operating loss widened to $1.64 million and the net loss increased to $1.27 million, driven by a 7% rise in SGA costs. Despite these losses, Vaso maintained a healthy liquidity position with $32.56 million in cash and cash equivalents as of June 30, 2025, and a substantial deferred revenue backlog of $38.11 million, providing a foundation for future revenue recognition.
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