Amesite Inc.
For the period ended Dec 31, 2025. Filed Feb 6, 2026.
View on SEC.govAbout 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.
Dec 31, 2025 · Filed Feb 6, 2026
AMST$0.52-4.2%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-09-30; filed 2025-10-24.
0001213900-25-102257
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONSCurrent report: 10-Q
Period ended 2025-12-31; filed 2026-02-06.
0001213900-26-012916
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONSThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 54 previous paragraphs and 56 current paragraphs.
39 unchanged; 15 reworded; 2 added; 0 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (2)
Current report
Nasdaq Deficiency Letter
Current report
On October 28, 2025 we received a deficiency letter (the “Nasdaq Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying us that we were not in compliance with Nasdaq Listing Rule 5550(b)(1), which requires us to maintain a minimum of $2,500,000 in stockholders’ equity for continued listing on the Nasdaq Capital Market (the “Stockholders’ Equity Requirement”), nor were we in compliance with either of the alternative listing standards, either a market value of listed securities of at least $35 million or net income of $500,000 from continuing operations in the most recently completed fiscal year, or in two of the three most recently completed fiscal years. Pursuant to the Nasdaq Letter, we had 45 calendar days from the date of the Nasdaq Letter to submit a plan to regain compliance. We submitted our plan of compliance on December 10, 2025 and on January 8, 2026, Nasdaq granted an extension until April 27, 2026 to evidence compliance.
Reworded paragraphs (15)
Previous wording
The following discussion and analysis of our financial condition and results of operations should be read together with our unaudited condensed financial statements and related notes appearing elsewhere in this Quarterly Report on Form 10-Q and our audited financial statements and related notes for the year ended June 30, 2025 included in our Annual Report on Form 10-K filed with the SEC on September 29, 2025. In addition to historical information, this discussion and analysis contains forward-looking statements that involve risks, uncertainties, and assumptions. Our actual results may differ materially from those anticipated in these forward-looking statements as a result of certain factors. We discuss factors that we believe could cause or contribute to these differences below and elsewhere in this Quarterly Report on Form 10-Q, including those factors set forth in the section entitled “Cautionary Statement Regarding Forward-Looking Statements” and in the section entitled “Risk Factors” in Part II, Item 1A.
Current wording
The following discussion and analysis of our financial condition and results of operations should be read together with our unaudited condensed financial statements and related notes appearing elsewhere in this Quarterly Report on Form 10-Q and our audited financial statements and related notes for the year ended June 30, 2025 included in our Annual Report on Form 10-K filed with the SEC on September 29, 2025 and amended on October 28, 2025. In addition to historical information, this discussion and analysis contains forward-looking statements that involve risks, uncertainties, and assumptions. Our actual results may differ materially from those anticipated in these forward-looking statements as a result of certain factors. We discuss factors that we believe could cause or contribute to these differences below and elsewhere in this Quarterly Report on Form 10-Q, including those factors set forth in the section entitled “Cautionary Statement Regarding Forward-Looking Statements” and in the section entitled “Risk Factors” in Part II, Item 1A.
Previous wording
The following discussion highlights our results of operations and the principal factors that have affected our financial condition as well as our liquidity and capital resources for the three months ended September 30, 2025 and provides information that management believes is relevant for an assessment and understanding of the statements of financial condition and results of operations presented herein. The following discussion and analysis are based on our unaudited condensed financial statements contained in this Quarterly Report on Form 10-Q, which we have prepared in accordance with United States generally accepted accounting principles, or GAAP, and the requirements of the SEC. You should read the discussion and analysis together with such financial statements and the related notes thereto.
Current wording
The following discussion highlights our results of operations and the principal factors that have affected our financial condition as well as our liquidity and capital resources for the three months and six months ended December 31, 2025 and provides information that management believes is relevant for an assessment and understanding of the statements of financial condition and results of operations presented herein. The following discussion and analysis are based on our unaudited condensed financial statements contained in this Quarterly Report on Form 10-Q, which we have prepared in accordance with United States generally accepted accounting principles, or GAAP, and the requirements of the SEC. You should read the discussion and analysis together with such financial statements and the related notes thereto.
Previous wording
We are not currently profitable, and we cannot provide any assurance that we will ever be profitable. We incurred a net loss of $642,266 for the three months ended September 30, 2025, and we incurred a net loss of $42.1 million for the period from November 14, 2017 (date of incorporation) to September 30, 2025.
Current wording
We are not currently profitable, and we cannot provide any assurance that we will ever be profitable. We incurred a net loss of $1,374,814 for the six months ended December 31, 2025, and we incurred a net loss of $42.8 million for the period from November 14, 2017 (date of incorporation) to December 31, 2025.
Previous wording
We are not currently profitable, and we cannot provide any assurance that we will ever be profitable. We incurred a net loss of $642,266 for the three months ended September 30, 2025, and we incurred a net loss of $42.1 million for the period from November 14, 2017 (date of incorporation) to September 30, 2025.
Current wording
We are not currently profitable, and we cannot provide any assurance that we will ever be profitable. We incurred a net loss of $732,548 and $1,374,814 for the three months and six months ended December 31, 2025, respectively.
Previous wording
As of September 30, 2025, our cash, cash equivalent, and restricted cash balance totaled $1,930,053.
Current wording
As of December 31, 2025, our cash, cash equivalent, and restricted cash balance totaled $1,265,369.
Previous wording
As of September 30, 2025 and June 30, 2025 our cash, cash equivalents, and restricted cash totaled $1,930,053 and $2,433,418, respectively with the majority invested in a short-term US Treasury Fund totaling approximately $1,647,000 at September 30, 2025. The Fund is invested in US Treasuries with a 7-day liquidity. The decision to allocate funds to the short-term US Treasury Fund is based on our investment strategy, which prioritizes liquidity and stability while receiving current rate returns. The returns from the fund for the three months ended September 30, 2025 were 4.2% and in line with our expectations and the broader market trends for similar investment vehicles. We continuously monitor our investment portfolio, considering market conditions and our liquidity needs, ensuring alignment with our broader financial strategy and risk tolerance.
Current wording
As of December 31, 2025 and June 30, 2025 our cash, cash equivalents, and restricted cash totaled $1,265,369 and $2,433,418, respectively with the majority invested in a short-term US Treasury Fund totaling approximately $970,000 at December 31, 2025. The Fund is invested in US Treasuries with a 7-day liquidity. The decision to allocate funds to the short-term US Treasury Fund is based on our investment strategy, which prioritizes liquidity and stability while receiving current rate returns. The returns from the fund for the six months ended December 31, 2025 were 4.1% and in line with our expectations and the broader market trends for similar investment vehicles. We continuously monitor our investment portfolio, considering market conditions and our liquidity needs, ensuring alignment with our broader financial strategy and risk tolerance.
Previous wording
The Company capitalized software of $87,600 and $148,000 and recognized amortization expense of $54,103 and $111,939 for the three months ended September 30, 2025 and 2024, respectively.
Current wording
The Company capitalized software of $131,200 and $212,600 and recognized amortization expense of $115,506 and $218,537 for the six months ended December 31, 2025 and 2024, respectively.
Previous wording
We have recorded accounts receivable of $10,344 and $6,341 as of September 30, 2025 and June 30, 2025, respectively. We have set up deferred revenue liabilities at the end of each period to reflect performance obligations to be performed in future periods for our services delivered over time. Future obligations related to deferred revenue totaled $24,655 and $36,745 as of September 30, 2025 and June 30, 2025 respectively.
Current wording
We have recorded accounts receivable of $7,197 and $6,341 as of December 31, 2025 and June 30, 2025, respectively. We have set up deferred revenue liabilities at the end of each period to reflect performance obligations to be performed in future periods for our services delivered over time. Future obligations related to deferred revenue totaled $16,125 and $36,745 as of December 31, 2025 and June 30, 2025 respectively.
Previous wording
We generated revenues totaling $94,296 for the three months ended September 30, 2025 as compared to $11,250 for the three months ended September 30, 2024.
Current wording
We generated revenues totaling $202,346 for the six months ended December 31, 2025 as compared to $24,010 for the six months ended December 31, 2024. We generated revenues totaling $108,050 for the three months ended December 31, 2025 as compared to $12,760 for the three months ended December 31, 2024.
Previous wording
General and administrative expenses for the three months ended September 30, 2025 were $547,060 as compared to $633,122 for the three months ended September 30, 2024. The decrease between the three-month periods is due to lower payroll costs and lower professional fees. These reductions were made possible by completion of certain features and platform capabilities that require less staffing to maintain than to build.
Current wording
General and administrative expenses for the six months ended December 31, 2025 were approximately $1,126,000 as compared to approximately $1,438,000 for the six months ended December 31, 2024. General and administrative expenses for the three months ended December 31, 2025 were approximately $579,000 as compared to approximately $805,000 for the three months ended December 31, 2024. The decrease between the three-month periods is due to lower payroll costs, stock-based compensation, and professional fees. These reductions were made possible by completion of certain features and platform capabilities that require less staffing to maintain than to build. Stock-based compensation is lower due to having four Board members in calendar year 2025 as opposed to six Board members in calendar year 2024.
Previous wording
Technology and content development expenses for the three months ended September 30, 2025 were $102,888 as compared to $139,658 for the three months ended September 30, 2024. The decreases between the three-month periods in technology reflect the reductions in headcount and associated administrative costs, since these costs scale with staff.
Current wording
Technology and content development expenses for the six months ended December 31, 2025 were approximately $268,000 as compared to approximately $352,000 for the six months ended December 31, 2024. Technology and content development expenses for the three months ended December 31, 2025 were approximately $165,000 as compared to approximately $212,000 for the three months ended December 31, 2024. The decreases between the six-month periods in technology reflect the reductions in headcount and associated administrative costs, since these costs scale with staff.
Previous wording
Sales and marketing expenses for the three months ended September 30, 2025 were $106,472 as compared to $165,814 for the three months ended September 30, 2024. The decrease between the three-month periods in sales and marketing are principally related to moving certain marketing functions from outside providers to inside staff.
Current wording
Sales and marketing expenses for the six months ended December 31, 2025 were approximately $216,000 as compared to approximately $293,000 for the six months ended December 31, 2024. Sales and marketing expenses for the three months ended December 31, 2025 were approximately $109,500 as compared to approximately $127,000 for the three months ended December 31, 2024. The decrease between the three-month periods in sales and marketing are principally related to moving certain marketing functions from outside providers to inside staff.
Previous wording
For the three months ended September 30, 2025, interest income totaled $19,858 as compared to interest income of $19,299 for the three months ended September 30, 2024.
Current wording
For the six months ended December 31, 2025, interest income approximated $32,600 as compared to interest income of approximately $28,500 for the six months ended December 31, 2024. For the three months ended December 31, 2025, interest income approximated $12,700 as compared to interest income of approximately $9,200 for the three months ended December 31, 2024.
Previous wording
Our net loss for the three months ended September 30, 2025 was $642,266 as compared to a net loss for the three months ended September 30, 2024 of $908,045.
Current wording
Our net loss for the six months ended December 31, 2025 was approximately $1,375,000 as compared to a net loss for the six months ended December 31, 2024 of approximately $2,030,000. Our net loss for the three months ended December 31, 2025 was approximately $732,500 as compared to a net loss for the three months ended December 31, 2024 of approximately $1,122,000.
Previous wording
During the three months ended September 30, 2025 and 2024, we had capital asset additions of $87,600 and $148,000, respectively, in capitalized technology and content development. We will continue to capitalize significant software development costs, comprised primarily of internal payroll, payroll related and contractor costs, as we build out and complete our technology platform.
Current wording
During the six months ended December 31, 2025 and 2024, we had capital asset additions of $131,200 and $212,600, respectively, in capitalized technology and content development. We will continue to capitalize significant software development costs, comprised primarily of internal payroll, payroll related and contractor costs, as we build out and complete our technology platform.