RTB Digital, Inc.

For the period ended Mar 31, 2025. Filed May 20, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed May 20, 2025

RTB$6.08+2.2%Stored close · as of Nov 6, 2026

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Contents

Condensed Consolidated Balance Sheets as of March 31, 2025 (unaudited) and December 31, 2024

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except par value and share data)

	March 31, 2025	December 31, 2024
(Unaudited)
ASSETS
Current Assets:
Cash	$2,980	$2,599
Restricted cash	74,510	89,432
Accounts receivable, net of allowance for credit losses of $294 and $206, respectively	958	1,076
Cash due from gateways, net of allowance of $152 and $89, respectively	-	88
Prepaid and other current assets	1,387	2,189
Total current assets	79,835	95,384
Non-current Assets:
Property and equipment, net	131	165
Goodwill	19,637	18,856
Intangible assets, net	2,969	1,802
Operating lease right-of-use assets, net	3,140	3,425
Other assets	2,361	2,644
Total non-current assets	28,238	26,892
Total assets	$108,073	$122,276
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$4,245	$3,515
Accrued liabilities	7,467	8,146
Payment processing liabilities, net	76,089	90,802
Note payable (Note 7)	15,000	-
Current portion of operating lease liabilities	875	839
Other current liabilities	238	240
Total current liabilities	103,914	103,542
Long term debt, net of debt discount of $22 and $1,556, respectively (Note 8)	4,594	17,363
Operating lease liabilities, less current portion	2,647	2,863
Total liabilities	111,155	123,768
Commitments and contingencies (Note 14)
Stockholders’ Equity:
Preferred stock, Series B, par value $0.01, 5,000,000 shares authorized; 0 and 53,499 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively	-	1
Common stock, par value $0.001, 100,000,000 shares authorized; 8,362,990 and 8,032,318 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively	8	8
Additional paid-in capital	179,222	179,157
Accumulated other comprehensive income	(149)	(1,251)
Accumulated deficit	(182,163)	(179,407)
Total stockholders’ equity	(3,082)	(1,492)
Total liabilities and stockholders’ equity	$108,073	$122,276

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

(In thousands, except share and per share data)

	Three Months Ended March 31,
	2025	2024
Revenue	$15,133	$16,774
Cost of revenue	8,418	9,743
Gross profit	6,715	7,031
Operating expenses:
Advertising and marketing	33	17
Research and development	449	1,393
General and administrative	1,541	2,042
Payroll and payroll taxes	3,883	3,569
Professional fees	1,066	1,035
Stock compensation expense	55	224
Depreciation and amortization	133	657
Restructuring charges	403	-
Total operating expenses	7,563	8,937
Loss from operations	(848)	(1,906)
Other income (expense):
Interest expense	(1,229)	(28)
Accretion of debt discount	(128)	(908)
Other income or expense, net	(68)	343
Total other expense, net	(1,425)	(593)
Loss before provision for income taxes	(2,273)	(2,499)
Income tax provision	483	190
Net loss	$(2,756)	$(2,689)
Comprehensive income statement:
Net loss	$(2,756)	$(2,689)
Foreign currency translation adjustment	1,102	(445)
Total comprehensive loss	$(1,654)	$(3,134)
Net loss per share:
Basic and diluted	$(0.33)	$(0.45)
Weighted average number of common shares outstanding:
Basic and diluted	8,265,255	5,988,424

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’EQUITY

(In thousands, except share data)

Common Stock · Preferred Stock · Additional · Other Accumulated Comprehensive · Total
Shares · Amount · Series B Shares · Amount · Paid In Capital · Income (Loss) · Accumulated Deficit · Stockholders’ Equity
Balance at December 31, 2024	8,032,318	$8	53,499		$1	$179,157	$(1,251)	$(179,407)	$(1,492)
Issuance of common stock under equity incentive plans	15,760	-	-		-	55	-	-	55
Common stock issued for conversion of Preferred B stock	314,912	-	(400)		-		-	-	-
Preferred B stock repurchased	-	-	(53,099)		(1)	1	-	-	-
Capital contributions	-	-	-		-	9	-	-	9
Net loss and comprehensive loss	-	-	-		-	-	1,102	(2,756)	(1,654)
Balance at March 31, 2025	8,362,990	$8	-	$	-	$179,222	$(149)	$(182,163)	$(3,082)

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’EQUITY

(In thousands, except share data)

Common Stock · Preferred Stock · Additional · Other Accumulated Comprehensive · Total Stockholders’
	Shares	Amount	Series B Shares	Amount	Paid In Capital	Income (Loss)	Accumulated Deficit	Equity (Deficit)
Balance at December 31, 2023	5,996,948	$6	55,000	$1	$175,664	$401	$(152,581)	$23,491
Issuance of common stock under equity incentive plans	6,333	-	-	-	119	-	-	119
Issuance of restricted common stock under equity incentive plans	14,443	-	-	-	93	-	-	93
Issuance of common stock upon exercise of stock options	6,218	-	-	-	-	-	-	-
Shares cancelled in connection with the net settlement of vested restricted stock awards	(22,455)	-			(99)	-	-	(99)
Net loss and comprehensive loss	-	-	-	-	-	(445)	(2,689)	(3,134)
Balance at March 31, 2024	6,001,487	$6	55,000	$1	$175,777	$(44)	$(155,270)	$20,470

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.