First America Resources Corp, a leading company in the [specific industry], has released its Form 10-Q report for the third quarter of 2025. The report highlights significant financial and operational performance metrics, showcasing the company's continued growth and strategic expansion efforts.
Financial Highlights
Revenues: The company reported revenues of $5.47 million for the three months ended September 30, 2025, and $14.32 million for the nine months ended September 30, 2025. This represents a 19% and 15% increase, respectively, compared to the same periods in 2024, driven by continued revenue growth.
Gross Profit: Gross profit for the three months ended September 30, 2025, was $2.94 million, and $7.69 million for the nine months ended September 30, 2025. The gross margins stood at 54% for both periods, slightly lower than the prior year due to increased cost of revenues.
Income from Operations: The company reported an income from operations of $0.25 million for both the three months and nine months ended September 30, 2025, showing a decrease from the prior year periods due to higher operating expenses.
Net Income: Net income was $0.21 million for the three months ended September 30, 2025, and $0.50 million for the nine months ended September 30, 2025. The nine-month period benefited from an Employee Retention Credit of $346,000.
Income per Share - Basic and Diluted: The income per share was $0.00 for the three months ended September 30, 2025, and $0.01 for the nine months ended September 30, 2025, consistent with the prior year periods.
Business Highlights
Revenue Segments: The company reported revenue concentrations with Customer A and Customer B each contributing 13% to the total revenue for the nine months ended September 30, 2025. Customer C contributed 21% to the accounts receivable as of September 30, 2025.
Operational Expansion: The increase in operating expenses by 21% for the three months ended September 30, 2025, was driven by expansion in operations, including increases in general and administrative expenses, payroll, and rent and lease expenses.
Professional Fees: There was a significant increase in professional fees from $26,000 to $173,000 for the three months ended September 30, 2025, primarily due to merger costs and related professional fees such as legal and audit fees.
Future Outlook: The company expects revenues to continue to increase on a year-over-year basis as it expands operations. Operating expenses are also expected to rise in line with revenue growth.
Employee Retention Credit: The company received an Employee Retention Credit totaling $346,000 during the nine months ended September 30, 2025, which is reflected in other income.
Interest Expenses: Interest expenses increased to $36,000 for the three months ended September 30, 2025, and are expected to rise further as the company seeks additional funding.
Liquidity and Capital Resources: The company may need to raise additional debt or equity capital to fund its operations, indicating a focus on expanding operational capacity.
SEC Filing: