Vaso Corporation reported a notable improvement in its financial performance for the third quarter of 2025, with total revenues reaching $22.7 million, a 9% increase from $20.8 million in the same period last year. The company's net income for the quarter was $1.7 million, compared to a net loss of $1.2 million in the prior year, marking a significant turnaround. This positive shift in profitability was attributed to increased gross profit across all business segments and a reduction in costs associated with business combination activities.
In terms of segment performance, the IT segment generated $11.2 million in revenue, a slight increase of 1% year-over-year, while the professional sales service segment saw a 19% rise in commission revenues to $10.8 million, driven by higher equipment deliveries from GE Healthcare. The equipment segment also experienced growth, with revenues increasing to $619,000 from $573,000. Overall, gross profit for the quarter was $13.9 million, representing 61% of total revenue, up from 57% in the previous year.
Vaso's operational metrics showed a positive trend, with cash and cash equivalents increasing to $34.9 million from $26.3 million at the end of 2024. The company also reported a decrease in accounts receivable, which fell to $9.2 million from $17 million, indicating improved collection efforts. Deferred revenue rose to $39.4 million, reflecting a backlog of orders exceeding deliveries, which is expected to contribute to future revenue recognition.
Strategically, Vaso terminated its business combination agreement with Achari Ventures Holdings in September 2024, focusing instead on internal growth and potential partnerships in the healthcare and IT sectors. The company continues to operate through three main segments: IT services, professional sales, and medical equipment, with a strong emphasis on enhancing its product offerings and market presence. Looking ahead, Vaso anticipates generating sufficient cash flow from operations to meet its obligations over the next twelve months, positioning itself for continued growth in the healthcare technology landscape.
About VASO Corp
Vaso Corporation operates in healthcare equipment and information technology, focusing on three segments: healthcare IT services, medical device manufacturing, and healthcare capital equipment sales. It provides managed network solutions, proprietary cardiovascular devices, and sales of GE Healthcare diagnostic equipment. Serving domestic and international markets, the company leverages proprietary technology, strategic partnerships, and a diversified product portfolio to deliver healthcare solutions and services.
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