ATLANTIC INTERNATIONAL CORP

For the period ended Sep 30, 2024. Filed Nov 14, 2024.

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.

Sep 30, 2024 · Filed Nov 14, 2024

CIRC$0.18-13.2%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Operations

ATLANTIC INTERNATIONAL CORP. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

	Three Months EndedSeptember 30,		Nine Months EndedSeptember 30,
	2024	2023	2024	2023
Service revenue, net	$107,803,843	$97,785,156	$313,063,328	$285,177,880
Cost of revenue	95,918,373	86,179,981	279,222,830	250,888,387
Gross profit	11,885,470	11,605,175	33,840,498	34,289,493
Selling, general and administrative	17,151,567	10,372,122	46,045,754	31,701,396
Change in fair value of contingent consideration liabilities	—	349,907	—	(150,093)
Depreciation and amortization	1,245,557	1,263,820	3,754,165	3,784,624
(Loss) income from operations	(6,511,654)	(380,674)	(15,959,421)	(1,046,434)
Loss on debt extinguishment	—	—	1,213,379	—
Advisory fees paid in the merger	—	—	43,000,000	—
Interest expense	1,472,564	4,887,247	10,494,818	12,610,280
Other expense	285,483	—	15,893,220	—
Net loss before provision for income taxes	(8,269,701)	(5,267,921)	(86,560,838)	(13,656,714)
Income tax benefit	1,220,072	1,346,969	19,732,646	3,791,387
Net loss	$(7,049,629)	$(3,920,952)	$(66,828,192)	$(9,865,327)
Net loss per share, basic and diluted	$(0.16)	$(0.15)	$(2.04)	$(0.39)
Weighted-average shares outstanding, basic and diluted	44,688,845	25,423,729	32,774,837	25,423,729

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.