|
FY2025
12 months to Dec 31, 2025
|
FY2024
12 months to Dec 31, 2024
|
|
|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Write-off of accounts receivable | ||
| Bad debt expense (recovery) | ||
| Amortization expense | ||
| Provision for refund liability | ||
| Provision for credit losses on other receivables | ||
| Deferred tax expenses (benefits) | ||
| Amortization of debt discount | ||
| Interest income | ||
| Stock-based compensation expense | ||
| Changes in operating assets and liabilities: | ||
| Accounts receivable | ||
| Other receivables | ||
| Prepaid expenses and other current assets | ||
| Prepaid expenses and other assets | ||
| Operating lease right-of-use assets and liabilities, net | ||
| Accounts payable and accrued expenses | ||
| Income taxes payable | ||
| Other current liabilities | ||
| Net cash provided by operating activities | ||
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Development of software | ||
| Interest received from loans receivable | ||
| Net cash used in investing activities | ||
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from stock option exercises | ||
| Payments of deferred offering costs | ||
| Net cash provided by (used in) financing activities | ||
| Increase (decrease) in cash and cash equivalents | ||
| Cash and cash equivalents, beginning of year | ||
| Cash and cash equivalents, end of year | ||
| Supplemental disclosures of cash flow information: | ||
| Cash paid for income taxes | ||
| Summary of noncash investing and financing activities: | ||
| Accrued deferred offering costs included in accounts payable and accrued expenses | ||
| Accrued development of software included in accounts payable and accrued expenses | ||
| Issuance of Class A common stock for future service | ||
| Reclassification of deferred offering costs to additional paid-in capital upon initial public offering | ||
| Stock-based compensation capitalized for software development |
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