Vaso Corporation Reports Revenue Decline and Net Loss in Q2 2025

Vaso Corporation reported its financial results for the second quarter and first half of 2025, revealing a slight decline in revenue and a net loss compared to the previous year. For the three months ended June 30, 2025, total revenue was $19.96 million, a decrease of 1% from $20.23 million in the same period of 2024. The company's net loss for the quarter was $197,000, a significant drop from a net income of $1.16 million in the prior year. For the first half of 2025, Vaso's revenue increased to $39.42 million, up 1% from $38.96 million in the first half of 2024, but the net loss widened to $1.27 million from a mere $18,000 loss in the same period last year.

The company's performance was impacted by various factors across its three business segments. The IT segment saw a revenue increase of 1% to $10.68 million, driven by higher network service revenues, while the professional sales service segment experienced a 4% decline in commission revenues to $8.74 million, attributed to lower deliveries of diagnostic imaging equipment. The equipment segment reported a slight revenue increase to $529,000, primarily due to higher sales of ARCS® cloud software. Overall, gross profit for the quarter decreased to $11.80 million, or 59% of revenue, down from $12.15 million, or 60% of revenue, in the prior year.

Vaso's operating expenses rose significantly, with selling, general, and administrative costs increasing by 11% to $12.05 million in the second quarter. This rise was largely due to higher personnel costs and additional sales personnel in the professional sales service segment. The company also reported a notable increase in deferred revenue, which rose to $38.11 million as of June 30, 2025, compared to $31.70 million a year earlier, indicating a higher value of new orders booked than delivered equipment.

In terms of strategic developments, Vaso terminated its business combination agreement with Achari Ventures Holdings Corp. in September 2024, focusing instead on internal growth and potential partnerships in the healthcare and IT sectors. The company continues to operate through its three segments: IT services, professional sales services, and medical equipment, with a commitment to enhancing its product offerings and market presence. Looking ahead, Vaso expects to generate sufficient cash flow from operations to meet its obligations over the next twelve months, with cash and cash equivalents totaling $32.56 million as of June 30, 2025, up from $26.27 million at the end of 2024.