{"id":23918,"date":"2025-05-16T13:19:23","date_gmt":"2025-05-16T06:19:23","guid":{"rendered":"https:\/\/thaipropertynews.com\/feeds\/?p=23918"},"modified":"2025-05-16T13:19:23","modified_gmt":"2025-05-16T06:19:23","slug":"moatable-reports-first-quarter-2025-financial-results","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=23918","title":{"rendered":"Moatable Reports First Quarter 2025 Financial Results"},"content":{"rendered":"<p><span class=\"legendSpanClass\"><span class=\"xn-location\">PHOENIX<\/span>, May 16, 2025 \/PRNewswire\/ &#8212;\u00a0Moatable, Inc. (OTC Pink: MTBLY) (&#8220;Moatable&#8221; or the &#8220;Company&#8221;), a leading US-based SaaS company, today announced financial results for its first quarter ended <span class=\"xn-chron\">March 31, 2025<\/span>.<\/span><\/p>\n<p><b>First Quarter 2025 Financial Highlights<\/b><\/p>\n<ul type=\"disc\">\n<li>Revenue increased 29% from <span class=\"xn-money\">$14.0 million<\/span> in Q1 2024 to <span class=\"xn-money\">$18.0 million<\/span> in Q1 2025.<\/li>\n<li>Gross profit increased 25% from <span class=\"xn-money\">$10.7 million<\/span> in Q1 2024 to <span class=\"xn-money\">$13.4 million<\/span> in Q1 2025.<\/li>\n<li>Loss from operations improved 29% from a loss of <span class=\"xn-money\">$1.4 million<\/span> in Q1 2024 to a loss of <span class=\"xn-money\">$1.0 million<\/span> in Q1 2025.<\/li>\n<li>Adjusted EBITDA changed from a loss of <span class=\"xn-money\">$38 thousand<\/span> in Q1 2024 to a loss of <span class=\"xn-money\">$493 thousand<\/span> in Q1 2025.<\/li>\n<li>Total cash &amp; cash equivalents and <span>restricted cash<\/span> of <span class=\"xn-money\">$24.1 million<\/span> at the end of Q1 2025.<\/li>\n<\/ul>\n<p>&#8220;We are pleased with our continued steady revenue growth over the past thirteen quarters. During the period, our revenue increased 75% from <span class=\"xn-money\">$10.3 million<\/span> in Q1 2022 to <span class=\"xn-money\">$18.0 million<\/span> in Q1 2025., as we continue to strengthen our productivity and maintain our path to profitability&#8221;, said <span class=\"xn-person\">Scott Stone<\/span>, chief financial officer of the Company.<\/p>\n<p><b><u>About Moatable Inc.<\/u><\/b><\/p>\n<p>Moatable, Inc. (OTC Pink: MTBLY) operates two US-based SaaS businesses, including Lofty and Trucker Path. Moatable&#8217;s American depositary shares, each of which currently represents forty-five Class A ordinary shares, trade on OTC Pink open market under the symbol &#8220;MTBLY&#8221;. For more news and information on Moatable, please visit Moatable.com.<\/p>\n<p><b><u>Forward-Looking Statements<\/u><\/b><\/p>\n<p>This announcement contains forward-looking statements. These statements are made under the &#8220;safe harbor&#8221; provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as &#8220;will,&#8221; &#8220;expects,&#8221; &#8220;anticipates,&#8221; &#8220;future,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;believes,&#8221; &#8220;estimates&#8221; and similar statements. Statements that are not historical facts, including statements about Moatable&#8217;s beliefs and expectations, including statements on making investments and operating businesses that generate long-term returns for investors, and expectations for future growth and innovation are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Moatable&#8217;s goals and strategies; Moatable&#8217;s future business development, financial condition and results of operations; Moatable&#8217;s expectations regarding demand for and market acceptance of its services; Moatable&#8217;s plans to enhance user experience, infrastructure and service offerings. Further information regarding these and other risks is included in our recent annual and quarterly reports on Form 10-K and Form 10-Q and other documents filed with the SEC. All information provided in this press release is as of the date of this press release, and Moatable does not undertake any obligation to update any forward-looking statement, except as required under applicable law.<\/p>\n<p><b>Non-GAAP Financial Information<\/b><\/p>\n<p>This press release includes certain financial measures that are not presented in accordance with U.S. generally accepted accounting principles (&#8220;GAAP&#8221;), including Adjusted EBITDA.\u00a0 We define Adjusted EBITDA as loss from operations excluding equity-based compensation, depreciation and amortization, impairment of intangibles, and certain other non-recurring expenses. See &#8220;Reconciliation of Non-GAAP Financial Measure to the Comparable GAAP Financial Measure&#8221; below.<\/p>\n<p>We believe that these non-GAAP financial measures are provided to enhance the reader&#8217;s understanding of our past financial performance and our prospects for the future. Our management team uses these non-GAAP financial measures in assessing the Company&#8217;s performance, as well as in planning and forecasting future periods. The non-GAAP financial information is presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly titled non-GAAP measures used by other companies.<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen1\" colspan=\"7\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>MOATABLE, INC.<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen1\" colspan=\"7\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS <\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen1\" colspan=\"7\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">\u00a0<b>(in thousands) (Unaudited)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen3\" colspan=\"5\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>For the three months ended March\u00a031,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2024<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2025<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Revenues:<\/b>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">SaaS revenue\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">13,982<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">17,958<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">Other services\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">41<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">42<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Total revenues<\/b>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>14,023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>18,000<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Cost of revenues:<\/b>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">SaaS business\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">3,280<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">4,557<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">Other services\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">36<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">29<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Total cost of revenues<\/b>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>3,316<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>4,586<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Gross profit<\/b>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>10,707<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>13,414<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Operating expenses<\/b>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">Selling and marketing\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">4,076<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">5,723<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">Research and development\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">4,458<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">5,761<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">General and administrative\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">3,398<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">2,904<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">Impairment of intangible assets\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">207<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Total operating expenses<\/b>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>12,139<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>14,388<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Loss from operations<\/b>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(1,432)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(974)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">Other income, net\u00a0\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">34<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">66<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">Loss from fair value change of a long-term investment\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(1,488)<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(21)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">Interest income\u00a0\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">362<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">282<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Loss before provision of income tax and loss in equity\u00a0<br \/>method investments and non-controlling interest, net of tax<\/b>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(2,524)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(647)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">\u00a0Income tax expenses\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(115)<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(545)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Loss before loss in equity method investments and<\/b><br \/><b>noncontrolling interest, net of tax<\/b>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(2,639)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(1,192)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">Impairment on and (loss) income in equity method investments, <br \/>net of tax\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(491)<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">98<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Net income\u00a0<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(3,130)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(1,094)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen5\" colspan=\"7\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>RECONCILIATION OF NON-GAAP FINANCIAL MEASURE TO THE COMPARABLE GAAP <\/b><br \/><b>FINANCIAL MEASURE<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"7\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(in thousands)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen3\" colspan=\"5\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>For the three months ended March 31,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2024<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2025<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Loss from operations<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(1,432)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(974)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Share-based compensation\u00a0expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">672<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">129<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Depreciation and Amortization<br \/>expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">233<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">352<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Impairment of intangible asset<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">207<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Correction of payroll error<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(550)<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Arbitration fees<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">832<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Adjusted EBITDA<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(38)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(493)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p>\u00a0<\/p>","protected":false},"excerpt":{"rendered":"<p><!-- wp:html --><\/p>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">PHOENIX<\/span>, May 16, 2025 \/PRNewswire\/ &#8212;\u00a0Moatable, Inc. (OTC Pink: MTBLY) (&#8220;Moatable&#8221; or the &#8220;Company&#8221;), a leading US-based SaaS company, today announced financial results for its first quarter ended <span class=\"xn-chron\">March 31, 2025<\/span>.<\/span><\/p>\n<p><b>First Quarter 2025 Financial Highlights<\/b><\/p>\n<ul type=\"disc\">\n<li>Revenue increased 29% from <span class=\"xn-money\">$14.0 million<\/span> in Q1 2024 to <span class=\"xn-money\">$18.0 million<\/span> in Q1 2025.<\/li>\n<li>Gross profit increased 25% from <span class=\"xn-money\">$10.7 million<\/span> in Q1 2024 to <span class=\"xn-money\">$13.4 million<\/span> in Q1 2025.<\/li>\n<li>Loss from operations improved 29% from a loss of <span class=\"xn-money\">$1.4 million<\/span> in Q1 2024 to a loss of <span class=\"xn-money\">$1.0 million<\/span> in Q1 2025.<\/li>\n<li>Adjusted EBITDA changed from a loss of <span class=\"xn-money\">$38 thousand<\/span> in Q1 2024 to a loss of <span class=\"xn-money\">$493 thousand<\/span> in Q1 2025.<\/li>\n<li>Total cash &amp; cash equivalents and <span>restricted cash<\/span> of <span class=\"xn-money\">$24.1 million<\/span> at the end of Q1 2025.<\/li>\n<\/ul>\n<p>&#8220;We are pleased with our continued steady revenue growth over the past thirteen quarters. During the period, our revenue increased 75% from <span class=\"xn-money\">$10.3 million<\/span> in Q1 2022 to <span class=\"xn-money\">$18.0 million<\/span> in Q1 2025., as we continue to strengthen our productivity and maintain our path to profitability&#8221;, said <span class=\"xn-person\">Scott Stone<\/span>, chief financial officer of the Company.<\/p>\n<p><b><u>About Moatable Inc.<\/u><\/b><\/p>\n<p>Moatable, Inc. (OTC Pink: MTBLY) operates two US-based SaaS businesses, including Lofty and Trucker Path. Moatable&#8217;s American depositary shares, each of which currently represents forty-five Class A ordinary shares, trade on OTC Pink open market under the symbol &#8220;MTBLY&#8221;. For more news and information on Moatable, please visit Moatable.com.<\/p>\n<p><b><u>Forward-Looking Statements<\/u><\/b><\/p>\n<p>This announcement contains forward-looking statements. These statements are made under the &#8220;safe harbor&#8221; provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as &#8220;will,&#8221; &#8220;expects,&#8221; &#8220;anticipates,&#8221; &#8220;future,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;believes,&#8221; &#8220;estimates&#8221; and similar statements. Statements that are not historical facts, including statements about Moatable&#8217;s beliefs and expectations, including statements on making investments and operating businesses that generate long-term returns for investors, and expectations for future growth and innovation are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Moatable&#8217;s goals and strategies; Moatable&#8217;s future business development, financial condition and results of operations; Moatable&#8217;s expectations regarding demand for and market acceptance of its services; Moatable&#8217;s plans to enhance user experience, infrastructure and service offerings. Further information regarding these and other risks is included in our recent annual and quarterly reports on Form 10-K and Form 10-Q and other documents filed with the SEC. All information provided in this press release is as of the date of this press release, and Moatable does not undertake any obligation to update any forward-looking statement, except as required under applicable law.<\/p>\n<p><b>Non-GAAP Financial Information<\/b><\/p>\n<p>This press release includes certain financial measures that are not presented in accordance with U.S. generally accepted accounting principles (&#8220;GAAP&#8221;), including Adjusted EBITDA.\u00a0 We define Adjusted EBITDA as loss from operations excluding equity-based compensation, depreciation and amortization, impairment of intangibles, and certain other non-recurring expenses. See &#8220;Reconciliation of Non-GAAP Financial Measure to the Comparable GAAP Financial Measure&#8221; below.<\/p>\n<p>We believe that these non-GAAP financial measures are provided to enhance the reader&#8217;s understanding of our past financial performance and our prospects for the future. Our management team uses these non-GAAP financial measures in assessing the Company&#8217;s performance, as well as in planning and forecasting future periods. The non-GAAP financial information is presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly titled non-GAAP measures used by other companies.<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen1\" colspan=\"7\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>MOATABLE, INC.<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen1\" colspan=\"7\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS <\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen1\" colspan=\"7\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">\u00a0<b>(in thousands) (Unaudited)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen3\" colspan=\"5\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>For the three months ended March\u00a031,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2024<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2025<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Revenues:<\/b>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">SaaS revenue\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">13,982<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">17,958<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">Other services\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">41<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">42<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Total revenues<\/b>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>14,023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>18,000<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Cost of revenues:<\/b>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">SaaS business\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">3,280<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">4,557<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">Other services\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">36<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">29<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Total cost of revenues<\/b>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>3,316<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>4,586<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Gross profit<\/b>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>10,707<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>13,414<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Operating expenses<\/b>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">Selling and marketing\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">4,076<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">5,723<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">Research and development\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">4,458<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">5,761<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">General and administrative\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">3,398<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">2,904<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">Impairment of intangible assets\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">207<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Total operating expenses<\/b>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>12,139<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>14,388<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Loss from operations<\/b>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(1,432)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(974)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">Other income, net\u00a0\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">34<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">66<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">Loss from fair value change of a long-term investment\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(1,488)<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(21)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">Interest income\u00a0\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">362<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">282<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Loss before provision of income tax and loss in equity\u00a0<br \/>method investments and non-controlling interest, net of tax<\/b>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(2,524)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(647)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">\u00a0Income tax expenses\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(115)<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(545)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Loss before loss in equity method investments and<\/b><br \/><b>noncontrolling interest, net of tax<\/b>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(2,639)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(1,192)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\">Impairment on and (loss) income in equity method investments, <br \/>net of tax\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(491)<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">98<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Net income\u00a0<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(3,130)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(1,094)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen5\" colspan=\"7\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>RECONCILIATION OF NON-GAAP FINANCIAL MEASURE TO THE COMPARABLE GAAP <\/b><br \/><b>FINANCIAL MEASURE<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"7\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(in thousands)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen3\" colspan=\"5\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>For the three months ended March 31,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2024<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2025<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Loss from operations<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(1,432)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(974)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Share-based compensation\u00a0expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">672<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">129<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Depreciation and Amortization<br \/>expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">233<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">352<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Impairment of intangible asset<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">207<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Correction of payroll error<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(550)<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Arbitration fees<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">832<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Adjusted EBITDA<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(38)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(493)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>\u00a0<\/p>\n<p><!-- \/wp:html --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[5,7],"tags":[],"class_list":["post-23918","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cision-pr-newswire","category-cision-pr-newswire-en"],"_links":{"self":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/23918","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23918"}],"version-history":[{"count":0,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/23918\/revisions"}],"wp:attachment":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}