Atlantic International Corp. Reports Q3 2025 Financial Results with Increased Losses and Revenue Growth

Atlantic International Corp., formerly known as SeqLL, Inc., reported its financial results for the third quarter of 2025, revealing a net loss of $10.8 million, or $0.20 per share, compared to a net loss of $7.0 million, or $0.16 per share, in the same period last year. The company's service revenue for the quarter was $110.1 million, reflecting a 2.2% increase from $107.8 million in the prior year. For the nine months ended September 30, 2025, total service revenue reached $315.8 million, a slight increase of 0.9% from $313.1 million in the same period of 2024. The gross profit for the quarter was $12.4 million, up 4.3% from $11.9 million a year earlier, while gross profit for the nine-month period was $35.0 million, a 3.4% increase from $33.8 million.

The company experienced a significant rise in selling, general, and administrative expenses, which totaled $19.9 million for the third quarter, up 16% from $17.2 million in the same quarter of 2024. This increase was primarily attributed to higher stock compensation expenses. For the nine-month period, these expenses surged by 26.3% to $58.2 million, compared to $46.0 million in the previous year. The increase in operational costs contributed to a loss from operations of $8.7 million for the third quarter, a 33.9% increase from the loss of $6.5 million in the same quarter of 2024.

In terms of strategic developments, Atlantic International Corp. completed a merger with Lyneer Investments LLC on June 18, 2024, which has since become the company's primary business. Following the merger, the company restructured its operations and relocated its headquarters to Englewood Cliffs, New Jersey. The merger was accounted for as a reverse capitalization, with Lyneer being treated as the accounting acquirer. The company also underwent a name change and a reverse stock split in August 2023, consolidating its shares at a ratio of one-for-forty.

Operationally, Atlantic International Corp. has expanded its staffing services across the United States, now operating over 100 locations. The company reported a significant increase in accounts receivable, which stood at $50.1 million as of September 30, 2025, down from $66.8 million at the end of 2024. The company’s cash and cash equivalents decreased to $83,406 from $678,676 at the end of the previous fiscal year. The company also reported a total liability of $132.3 million, slightly up from $131.8 million at the end of 2024, indicating ongoing financial obligations related to its operational and merger activities.

Looking ahead, Atlantic International Corp. is focused on improving its liquidity and operational efficiency. The company has entered into a new revolving credit facility with a maturity date of April 29, 2028, which is expected to provide sufficient liquidity for its operational needs. Management believes that the combination of cash generated from operations and available borrowing capacity will support its working capital requirements for at least the next twelve months. However, the company acknowledges that its ability to fund future operations may be influenced by broader economic conditions and competitive factors.