"I am very proud that during the third quarter we continued to strengthen the foundation for a more profitable, enterprise-focused NowVertical," said Sandeep Mendiratta, CEO of NOW. "Revenue in the quarter and year-to-date reflects the ongoing transition of our business toward higher-margin strategic accounts that contribute more meaningfully to EBITDA and future growth. Our focus on these high-value relationships is paying off, with revenue from our top 30 clients now representing 69% of total revenue and growing over 23% for the nine months ended September 30, 2025, compared to the same period in 2024."
"Through our ‘One Brand, One Business' integration strategy, we have maintained industry-leading margins and delivered positive operating income and year-to-date adjusted EBITDA growth, while positioning the business for significant expansion as larger enterprise accounts scale and recurring revenue deepens."
"During the quarter, we also strengthened our partnership with Google Cloud, where we are among a select group of partners globally certified across Data, Machine Learning, and Generative AI specializations. This collaboration has generated more than $3.4 million in revenue so far this year and created twenty new enterprise opportunities. With this foundation and a stronger balance sheet, we are well positioned to accelerate growth and deliver sustained long-term value for shareholders," concluded Mr. Mendiratta.
Selected Financial Highlights for the Three and Nine Months Ended September 30, 2025:
Revenue was $9.1 million in the three months ended September 30, 2025 ("Q3 2025"), a 15% decrease from $10.7 million for the three months ending September 30, 2024 ("Q3 2024"), mainly due to a devaluation of the Argentine peso resulting in a $1.0 million deflation of revenue. Revenue for the nine months ended September 30, 2025 ("YTD 2025") was $27.7 million, a 3% decrease from $28.6 million over the nine months ended September 30, 20241 ("YTD 2024"), including deflationary effects.
Gross Profit came in at a 51% margin and was $4.7 million in Q3 2025, an 11% decrease from $5.3 million in Q3 2024 and was $13.6 million YTD 2025, an 8% decrease from $14.8 million YTD 20241.
Administrative Expenses were $4.3 million in Q3 2025, a 9% increase from $3.9 million in Q3 2024 mainly due to higher share-based compensation granted to employees. Administrative expenses were $11.1 million in YTD 2025, a 16% decrease from $13.2 million YTD 20241.
Income from Operations was $0.4 million in Q3 2025, a 72% decrease from $1.3 million in Q3 2024 and was $2.5 million YTD 2025, a 55% increase from $1.6 million YTD 20241.
Adjusted EBITDA was 20% of revenue at $1.8 million in Q3 2025, a 9% decrease from $2.0 million in Q3 2024, while Adjusted EBITDA was $5.4 million YTD 2025, a 17% increase from $4.6 million YTD 20241. Adjusted EBITDA is a ...
