DriveItAway Holdings, Inc. reported its financial results for the three months ending December 31, 2025, revealing a revenue increase to $282,242, up from $241,946 in the same period of 2024. Despite this growth in revenue, the company experienced a decline in gross profit, which fell to $83,894 from $98,691 year-over-year. The operating loss for the quarter was $140,277, slightly higher than the loss of $125,612 reported in the previous year. The net income for the quarter was $548,868, compared to $456,463 in the prior year, reflecting a positive shift in other income and expenses, particularly a gain on the change in fair value of derivative liability.
The company’s balance sheet showed a decrease in total assets, which fell to $544,929 from $680,292 as of September 30, 2025. This decline was primarily attributed to a reduction in fixed assets, which decreased from $585,120 to $438,502. Current liabilities also decreased to $8,081,371 from $9,070,576, largely due to a reduction in short-term notes payable and promissory notes. The stockholders’ deficit improved to $(7,647,630) from $(8,502,124), indicating a slight recovery in the company’s equity position.
Strategically, DriveItAway has been focusing on expanding its service offerings and enhancing its technology platform. The company is preparing to launch a new consumer app aimed at facilitating the transition to electric vehicles, which aligns with its goal of providing a seamless eCommerce experience for car dealers. Additionally, the company has made organizational changes, including the formation of DIA Leasing, LLC, a wholly owned subsidiary, to further support its leasing operations.
Operationally, DriveItAway reported an increase in customer engagement, with the number of common shares outstanding rising to 121,525,082 from 120,025,082. The company’s cash position improved significantly, with cash and restricted cash increasing to $89,743 from $39,930. However, cash used in operating activities rose to $176,811 from $55,686, indicating higher operational costs. The company continues to face challenges in achieving profitability, as evidenced by its accumulated deficit of $9,912,751.
Looking ahead, DriveItAway Holdings, Inc. acknowledges the need for additional capital to sustain its operations and fund future growth initiatives. Management plans to pursue various funding avenues, including equity sales and traditional financing, to support its operational needs. However, the company has expressed uncertainty regarding its ability to secure sufficient funding, which raises concerns about its long-term viability. The financial statements reflect these uncertainties, as they do not include adjustments that may be necessary if the company is unable to continue as a going concern.
About Driveitaway Holdings, Inc.
DriveItAway Holdings, Inc. operates a mobility platform enabling car dealerships to sell vehicles through eCommerce via an app-based subscription model. It offers flexible lease-to-ownership programs, primarily targeting subprime consumers and entry-level buyers, with a focus on electric vehicles. The company provides turnkey solutions, proprietary technology, insurance, and training to facilitate online vehicle sales and subscriptions, leveraging telematics and digital screening to reduce risks and expand market reach.
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