ASURHIGH SIGNALFINANCIAL10-K

Asure delivered substantially higher revenue while dramatically reducing interest expense, suggesting successful debt refinancing and strong business momentum.

The company appears to have executed a significant debt restructuring that reduced interest payments by over 85%, freeing up substantial cash flow for operations. The meaningful revenue expansion combined with improved gross profit margins indicates accelerating business growth, though the company remains unprofitable at the operating level.

Comparing 2026-02-26 vs 2025-03-06View on EDGAR →
FINANCIAL ANALYSIS

Asure showed strong top-line momentum with revenue growing substantially while gross profit expanded at a more moderate pace, indicating some margin pressure. The dramatic reduction in interest expense from $15.4M to $2.2M suggests major debt restructuring or refinancing activities. Despite the revenue growth, operating losses persisted though at reduced levels, while the balance sheet expanded significantly with both assets and liabilities growing, reflecting the company's continued investment in growth initiatives.

FINANCIAL STATEMENT CHANGES
Interest Expense
P&L
-85.6%
$15.4M→$2.2M

Interest expense declined — debt repayment or refinancing at lower rates improving earnings quality.

Revenue
P&L
+63.4%
$54.4M→$89.0M

Strong top-line growth of 63.4% — accelerating demand or successful expansion into new markets.

Total Liabilities
Balance Sheet
+39.4%
$239.3M→$333.6M

Liabilities grew 39.4% — significant increase in debt or obligations, assess impact on financial flexibility.

R&D Expense
P&L
-28.3%
$7.8M→$5.6M

R&D spending cut 28.3% — could signal cost discipline or concerning reduction in innovation investment.

Operating Income
P&L
+21.7%
-$10.7M→-$8.4M

Operating income improving — cost discipline or growing revenue base absorbing fixed costs.

Total Assets
Balance Sheet
+21.7%
$436.6M→$531.4M

Asset base grew 21.7% — expansion through organic growth, acquisitions, or capital deployment.

Cash & Equivalents
Balance Sheet
+17.8%
$21.4M→$25.2M

Cash grew 17.8% — improving liquidity position supports investment and shareholder returns.

Current Assets
Balance Sheet
+17.3%
$237.3M→$278.4M

Current assets grew 17.3% — improving short-term liquidity or inventory/receivables build.

Current Liabilities
Balance Sheet
+16.1%
$223.6M→$259.7M

Current liabilities rose 16.1% — increased short-term obligations, watch current ratio.

Gross Profit
P&L
+15.5%
$82.1M→$94.9M

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

LANGUAGE CHANGES
NEW — 2026-02-26
PRIOR — 2025-03-06
ADDED
As of February 25, 2026, 28,373,354 sha res of the registrant s Common Stock, $0.01 par value, were outstanding.
These risks include, among others, the following: If our security measures, or those of our third-party data service partners are compromised or breached, it could reduce our revenue and earnings, increase our expenses, and expose us to legal claims and regulatory actions; We have a history of losses, and we cannot be certain that we will achieve or sustain profitability; We may need additional capital to support business growth or to make scheduled payments on or refinance our existing indebtedness.
Such additional capital may have restrictions that could adversely affect our financial condition; Volatility and weakness in bank and capital markets may adversely affect our credit availability and related financing; We have acquired and plan to continue to acquire from time to time our Reseller Partners businesses.
We may fail to comply with the rules that apply to such public companies, which could result in sanctions or other penalties that would harm our business; Some of our key components are procured from a single or limited number of suppliers.
Our solutions also provide new ways for employers to connect with their employees and strengthen relationships with their talent.
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REMOVED
As o f March 5, 2025 , 26,979,485 sha res of the registrant s Common Stock, $0.01 par value, were outstanding.
We may fail to comply with the rules that apply to such public companies, which could result in sanctions or other penalties that would harm our business; A portion of our accounts receivable is related tax processing services to that enabled businesses to file for Employee Retention Tax Credits under the CARES Act.
Such regulations were originally expected to expire in 2024 and 2025, which, following their expiration, will adversely impact our revenues on a comparative basis.
If we cannot accurately predict subscription renewals or upgrade rates, we may not meet our revenue targets, which may adversely affect the market price of our common stock; Client funds that we hold in trust are subject to market, interest rate, credit and liquidity risk.
Our solutions also provide new ways for employers to connect with their employees in order to enhance their relationships with their talent.
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