$VASO

VASOMEDICAL, INC

CIK:0000839087|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues
Total revenues	$ 11,187	$ 10,331	$ 20,982	$ 20,464
Cost of revenues
Total cost of revenues	2,298	2,390	4,572	4,887
Gross profit	8,889	7,941	16,410	15,577
Operating expenses
Selling, general and administrative	7,703	7,681	16,095	15,751
Research and development	212	167	395	345
Total operating expenses	7,915	7,848	16,490	16,096
Operating income (loss)	974	93	(80)	(519)
Other (expense) income
Interest and other income, net	253	258	455	432
Total other income, net	253	258	455	432
Income (loss) before income taxes	1,227	351	375	(87)
Income tax expense	(387)	(28)	(260)	(56)
Net income (loss) from continuing operations	840	323	115	(143)
Net loss from discontinued operations, net of tax	(296)	(520)	(458)	(1,129)
Net income (loss)	544	(197)	(343)	(1,272)
Other comprehensive income (loss)
Foreign currency translation gain	50	41	102	55
Comprehensive income (loss)	$ 594	$ (156)	$ (241)	$ (1,217)
Income (loss) per common share
Basic - continuing operations (in Dollars per share)	$ 0	$ 0	$ 0	$ 0
Diluted - continuing operations (in Dollars per share)	0	0	0	0
Basic - discontinued operations (in Dollars per share)	0	0	0	(0.01)
Diluted - discontinued operations (in Dollars per share)	0	0	0	(0.01)
Loss per common share - basic (in Dollars per share)	0	0	0	(0.01)
Loss per common share - diluted (in Dollars per share)	$ 0	$ 0	$ 0	$ (0.01)
Weighted average common shares outstanding
Weighted average common shares outstanding - basic (in Shares)	176,014,000	175,742,000	175,984,000	175,719,000
Weighted average common shares outstanding - diluted (in Shares)	176,345,000	175,742,000	175,984,000	175,719,000
Managed IT systems and services
Revenues
Total revenues		$ 1,058		$ 2,045
Professional sales services
Revenues
Total revenues	10,494	8,744	19,729	17,449
Equipment sales and services
Revenues
Total revenues	693	529	1,253	970
Cost of managed IT systems and services
Cost of revenues
Total cost of revenues		589		1,160
Cost of professional sales services
Cost of revenues
Total cost of revenues	2,024	1,659	4,037	3,469
Cost of equipment sales and services
Cost of revenues
Total cost of revenues	$ 274	$ 142	$ 535	$ 258

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net loss	$ (343)	$ (1,272)
Adjustments to reconcile net loss to net cash provided by operating activities
Depreciation and amortization	472	352
Deferred income taxes	87
Loss from investment in EECP Global	98	111
Provision for credit losses and commission adjustments	167	108
Share-based compensation	19	17
Changes in operating assets and liabilities:
Accounts and other receivables	7,238	8,068
Due from related parties	(352)	(171)
Inventories	22	(11)
Deferred commission expense	(156)	113
Prepaid expenses and other current assets	199	(581)
Other assets, net	(109)	(764)
Accounts payable	(19)	560
Accrued commissions	(1,400)	(1,868)
Accrued expenses and other liabilities	(4,158)	(1,997)
Sales tax payable	(45)	(60)
Deferred revenue	2,919	3,218
Other long-term liabilities	180	406
Net cash provided by operating activities	4,819	6,229
Cash flows from investing activities
Purchases of equipment and software	(963)	(867)
Net cash used in investing activities	(963)	(867)
Cash flows from financing activities
Payroll taxes paid by withholding shares		(1)
Proceeds from note payable		966
Repayment of notes payable and finance lease obligations	(146)	(29)
Net cash (used in) provided by financing activities	(146)	936
Effect of exchange rate differences on cash and cash equivalents	4	(9)
NET INCREASE IN CASH AND CASH EQUIVALENTS	3,714	6,289
Cash and cash equivalents - beginning of period, including cash from discontinued operations	35,050	26,271
Cash and cash equivalents - end of period, including cash from discontinued operations	38,764	32,560
SUPPLEMENTAL DISCLOSURE OF CASH INFORMATION
Interest paid		1
Income taxes paid	136	136
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Initial recognition of operating lease right of use asset and liability	$ 903	$ 145

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
CURRENT ASSETS
Cash and cash equivalents	$ 38,291	$ 34,081
Accounts and other receivables, net of an allowance for credit losses and commission adjustments of $12,088 at June 30, 2026 and $11,215 at December 31, 2025	5,911	13,293
Inventories, net	837	833
Deferred commission expense	3,945	3,789
Prepaid expenses and other current assets	652	1,055
Current assets held for sale	4,284	4,583
Total current assets	55,190	58,560
Property and equipment, net of accumulated depreciation of $1,276 at June 30, 2026 and $1,233 at December 31, 2025	101	121
Operating lease right of use assets	1,643	1,152
Goodwill	1,263	1,225
Intangibles, net	1,716	1,255
Other assets, net	6,161	5,989
Investment in EECP Global	38	135
Deferred tax assets, net	6,600	6,844
Noncurrent assets held for sale	13,195	13,068
Total assets	85,907	88,349
CURRENT LIABILITIES
Accounts payable	673	896
Accrued commissions	1,114	2,575
Accrued expenses and other liabilities	4,366	8,352
Operating lease liabilities - current	827	689
Sales tax payable	210	244
Deferred revenue - current portion	20,610	19,018
Notes payable - current portion	147	286
Current liabilities held for sale	4,913	4,783
Total current liabilities	32,863	36,846
LONG-TERM LIABILITIES
Operating lease liabilities, net of current portion	816	464
Deferred revenue, net of current portion	20,903	19,577
Other long-term liabilities	2,086	1,906
Noncurrent liabilities held for sale	31	127
Total long-term liabilities	23,836	22,074
COMMITMENTS AND CONTINGENCIES (NOTE O)
STOCKHOLDERS’ EQUITY
Preferred stock, $.01 par value; 1,000,000 shares authorized; nil shares issued and outstanding at June 30, 2026 and December 31, 2025
Common stock, $.001 par value; 250,000,000 shares authorized; 176,018,035 and 175,953,035 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	176	176
Additional paid-in capital	62,099	62,080
Accumulated deficit	(32,855)	(32,512)
Accumulated other comprehensive loss	(212)	(315)
Total stockholders’ equity	29,208	29,429
Total liabilities and stockholders’ equity	85,907	88,349
Related Party
CURRENT ASSETS
Receivables due from related parties	1,270	926
CURRENT LIABILITIES
Due to related party	$ 3	$ 3