1Net loss narrowed 68.1% to -$12.7 million, improving from -$39.9 million in 2024, primarily due to the absence of large commercial real estate charge-offs that impacted the prior year.
2Diluted EPS improved 98.3% to -$0.17, compared to -$10.03 in the prior year, reflecting the substantial earnings recovery.
3Net cash used in operating activities was -$14.2 million, a shift from $2.7 million provided in 2024, reflecting strategic balance sheet repositioning.
4Free cash flow was -$14.3 million, impacted by operating cash outflows and $172,000 in capital expenditures.
5Management executed recapitalization and capital raises during 2025 to fortify the balance sheet, partially offsetting the net loss for the year.
6Management believes the Company’s liquidity position was sufficient to meet expected funding needs, emphasizing a strategy focused on liquidity and capital preservation.