What changed in this filing

/stocks — the workspaceLOADING

Item 2. Management’s Discussion and Analysis

2026-08-11 compared with 2026-05-12 · 225 added, 176 removed, 288 unchanged (58% of the section changed)

59 unchanged sentences

platform to existing customers only, and at the beginning of 2025, officially released it as part of our rebrand to ACCESS Newswire.

of March 31, 2026, we had 1,004 subscriptions with an annual recurring revenue (“ARR”) of approximately $12.8 million.

of June 30, 2026, we had 1,162 subscriptions with an annual recurring revenue (“ARR”) of approximately $13.3 million.

Sale of our Compliance Business

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certain accounts payable, accrued liabilities and deferred revenue.

As a result, assets associated with our Compliance business, and revenue

and expenses associated with the assets, have been categorized as discontinued operations in our financial statements for the years ended

December 31, 2025, while the remaining assets associated with our Communications business are included in continuing operations.

In previous periods we have sold

our products in different bundles and names, such as Media Suite and/or as a Communications platform.

As part of our rebrand, in January

2025 we consolidated the naming conventions, product sets and subscriptions to be less onerous on the customers, easier to subscribe to

and significantly clearer to the investment community.

Our communications platform consists

of the following subscriptions:

In previous periods we have

sold our products in different bundles and names, such as Media Suite and/or as a Communications platform.

As part of our rebrand, in

January 2025 we consolidated the naming conventions, product sets and subscriptions to be less onerous on the customers, easier to subscribe

to and significantly clearer to the investment community.

Our communications platform

consists of the following subscriptions:

ACCESS PR – a subscription

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Our core press release distribution service is integrated into all three ACCESS subscription plans, ensuring greater value for our customers.

Insight & Analytics is our new AI-Assisted

platform that replaces the industry's old, static, traditional distribution report by combining real-time distribution data with AI-powered

editorial intelligence to deliver something we believe the PR industry has never had - useful information.

There are two components:

Insights Report – a report generated within 24 hours of a release going out that scores

press release content across specific structured AI metrics.

2) Analytics Report – a report

which refreshes on demand (up to 10 times per day), showing real-time media pickups, engagement rates, and geographic reach.

feature was introduced in the second quarter of 2026 and is available either as a subscription add-on or individually to agencies and

customers who want the benefits of sentiment and engagement for important press releases.

Media Database .

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Social Monitoring .

monitoring add-on to our ACCESS PR suite of products is a comprehensive brand intelligence solution integrated directly into all new ACCES

PR Subscriptions.

It provides real-time tracking of brand mentions, competitor activity, and industry trends across eight major social

platforms — X (Twitter), Instagram, Facebook, Bluesky, Reddit, YouTube, Weibo, and Threads — all accessible from a single

unified dashboard.

Core capabilities include sentiment analysis, real-time alerts for activity spikes, and competitive benchmarking, enabling

PR and communications teams, brand marketers, and agencies to stay ahead of emerging conversations before they reach mainstream coverage.

By consolidating social monitoring alongside press release distribution, media monitoring, media pitching and analytics within one platform,

ACCESS Newswire eliminates the need for disconnected point solutions and gives users a seamless, end-to-end view of their earned media

impact and social presence.

A new monitoring add-on to our ACCESS PR suite of products is a comprehensive brand intelligence solution integrated directly into all

new ACCESS PR Subscriptions.

It provides real-time tracking of brand mentions, competitor activity, and industry trends across eight major

social platforms — X (Twitter), Instagram, Facebook, Bluesky, Reddit, YouTube, Weibo, and Threads (and forthcoming LinkedIn) —

all accessible from a single unified dashboard.

Core capabilities include sentiment analysis, real-time alerts for activity spikes, and

competitive benchmarking, enabling PR and communications teams, brand marketers, and agencies to stay ahead of emerging conversations

before they reach mainstream coverage.

By consolidating social monitoring alongside press release distribution, media monitoring, media

pitching and analytics within one platform, ACCESS Newswire eliminates the need for disconnected point solutions and gives users a seamless,

end-to-end view of their earned media impact and social presence.

natural addition to our public relations and investor relations website business.

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Results of Operations

Comparison of results of operations for the

three months ended March 31, 2026 and 2025 (in thousands):

Three Months Ended March 31,

Comparison of results

of operations for the three and six months ended June 30, 2026 and 2025 (in thousands):

Three Months Ended June 30,

Percentage of Revenue

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Depreciation and amortization

Total operating expenses

Total expenses

Operating loss

Interest expense, net

Interest income (expense), net

Other income (expense)

Loss before income taxes

Income tax expense (benefit)

Net loss from continuing operations

Six Months Ended June 30,

Percentage of Revenue

Cost of Revenues

Operating Expenses:

General and administrative

Sales and marketing

Product development

Depreciation and amortization

Total expenses

Operating loss

Interest expense, net

Other (loss) income

Loss before income taxes

Income tax benefit

Net loss from continuing operations

Total revenue decreased $149,000,

or 3%, to $5,327,000 during the three months ended March 31, 2026, as compared to $5,476,000 for the same period in 2025.

is due to a decrease in revenue from our ProPlan products due to customer attrition and webcasting and events business due to lower revenue

from resellers.

Revenue from our core press release business was flat compared to the same quarter of the prior year.

Total revenue

was $5,618,000 for the three months ended June 30, 2026, relatively unchanged from $5,621,000 during the three months ended June 30, 2025.

Total revenue decreased $152,000, or 1%, to $10,945,000 during the six months ended June 30, 2026, as compared to $11,097,000 for the

same period in 2025.

The decrease is primarily due to a decrease in revenue from our webcasting products due to lower revenue from resellers

and virtual annual meetings and ProPlan products due to customer attrition.

Revenue from our core press release business increased 2%

and 1% for the three and six months ended June 30, 2026, respectively, as compared to the same periods of the prior year.

Revenue Backlog

As of March 31, 2026, our deferred

revenue balance was $5,390,000, which we expect to recognize over the next twelve months, compared to $5,265,000 at December 31, 2025,

an increase of 2%.

Deferred revenue primarily consists of advance billings for pre-paid packages of our news distribution products as

well as advance billings for subscriptions of our cloud-based products.

30, 2026, our deferred revenue balance was $5,072,000, which we expect to recognize over the next twelve months, as compared to $5,265,000

at December 31, 2025.

Deferred revenue primarily consists of advance billings for pre-paid packages of our news distribution products

as well as advance billings for subscriptions of our cloud-based products.

Cost of Revenues

Cost of revenues consists primarily

of direct labor costs, newswire distribution costs, teleconferencing costs, and third-party licensing costs.

Cost of revenues increased

by $173,000, or 14%, during the three months ended March 31, 2026, as compared to the same period of 2025.

The increase was primarily

due to an increase in distribution costs as well as employee-related expenses.

Overall gross margin decreased $322,000, or 8%, during

the three months ended March 31, 2026, compared to the same period of 2025.

As a result, gross margin percentage decreased to 74% during

the three months ended March 31, 2026, as compared to 78% during the same period of 2025.

General and administrative expenses

consist primarily of salaries, bonuses, stock-based compensation, insurance, fees for professional services, general corporate expenses

(including bad debt expense) and facility and equipment expenses.

General and administrative expenses were $1,781,000 for the three months

ended March 31, 2026, a decrease of $172,000 or 9%, as compared to the same period of 2025.

The decrease is primarily driven by a decrease

in bad debt expense.

As a percentage of revenue, general

and administrative expenses were 33% for the three months ended March 31, 2026, as compared to 36% for the same period of 2025.

revenues consist primarily of direct labor costs, newswire distribution costs, teleconferencing costs, and third-party licensing costs.

Cost of revenues increased by $170,000, or 13%, and $343,000, or 14%, during the three and six months ended June 30, 2026, respectively,

as compared to the same periods of 2025.

The increases were primarily due to increases in press release distribution costs due to a combination

of new partners, increased prices from current partners and additional usage under variable contracts.

Overall gross margin decreased

$173,000, or 4%, and $494,000, or 6%, during the three and six months ended June 30, 2026, respectively, compared to the same periods

As a result, gross margin percentage was 73% and 74% during the three and six months ended June 30, 2026, respectively, as compared

to 76% and 77% during the same periods of 2025.

The decrease in gross margin percentage is primarily due to the increase in cost of revenues.

General and Administrative

and administrative expenses consist primarily of salaries, bonuses, stock-based compensation, insurance, professional service fees, general

corporate expenses (including bad debt expense) and facility and equipment expenses.

General and administrative expenses decreased $402,000

or 23%, and $574,000, or 15%, during the three and six months ended June 30, 2026, respectively, as compared to the same period of 2025.

The decrease is primarily due to a reduction in non-recurring expenses during the period, as well as lower stock compensation expense

and bad debt expense.

Additionally, insurance and office expenses were lower as a result of selling the compliance business and moving

to a remote work environment.

As a percentage

of revenue, general and administrative expenses were 24% and 29% for the three and six months ended June 30, 2026, respectively, as compared

to 31% and 33% for the same periods of 2025.

Sales and Marketing Expenses

Sales and marketing expenses consist

primarily of salaries, stock-based compensation, sales commissions, advertising expenses, tradeshow expenses and other marketing expenses.

Sales and marketing expenses were $1,681,000 for the three months ended March 31, 2026, an increase of $87,000, or 5%, as compared to

the same period of 2025.

This increase is primarily due to higher advertising expenses as we increased the promotion of our new brands.

As a percentage of revenue, sales

and marketing expenses were 32% for the three months ended March 31, 2026, as compared to 29% for the same period of 2025.

marketing expenses consist primarily of salaries, stock-based compensation, sales commissions, advertising expenses, tradeshow expenses

and other marketing expenses.

Sales and marketing expenses increased $427,000, or 29%, and $514,000, or 17%, for the three and six months

ended June 30, 2026, respectively, as compared to the same periods of 2025.

This increase is primarily due to our increased investment

in tradeshows and advertising.

As a percentage

of revenue, sales and marketing expenses were 34% and 33% for the three and six months ended June 30, 2026, respectively, as compared

to 26% and 28% for the same periods of 2025.

Product Development Expenses

Product development expenses consist

primarily of salaries, stock-based compensation, bonuses, and licenses to develop new products and technology to complement and/or enhance

our platform.

Product development expenses decreased $173,000, or 24%, to $560,000 during the three months ended March 31, 2026, as compared

to the same period of 2025.

The decrease is primarily due to higher capitalization of software, as $99,000 was capitalized during the

three months ended March 31, 2026 compared to $23,000 during the same period of 2025.

Additionally, consulting expenses decreased as compared

to the same period of 2025.

As a percentage of revenue, product

development expenses were 10% for the three months ended March 31, 2026 compared to 13% for the same period of 2025.

Interest expense, net

We recognized interest expense

of $43,000 for the three-month period ended March 31, 2026, compared to $214,000 during the same period of 2025, which is all related

to our long-term credit agreement.

The decrease in interest expense for the three months ended March 31, 2026, is due to the reduction

in debt as a result of the pay down from the sale of the compliance business.

These amounts are offset by interest income on deposit and

money market accounts of $5,000 and $10,000 for the three months ended March 31, 2026 and 2025, respectively.

development expenses consist primarily of salaries, stock-based compensation, bonuses, and licenses to develop new products and technology

to complement and/or enhance our platform.

Product development expenses decreased $122,000, or 19%, and $295,000, or 21%, during the three

and six months ended June 30, 2026, as compared to the same period of 2025.

This decrease was primarily due to an increase in capitalized

software, as the Company capitalized software in the amounts of $110,000 and $209,000 for the three and six months ended June 30, 2026,

respectively, compared to $0 and $23,000 during the same periods of the prior year.

As a percentage

of revenue, both capitalized and non-capitalized product development expenses were 9% and 10% for the three and six months ended June

30, 2026, respectively, compared to 12% and 13% for the same periods of 2025.

Interest Income (Expense),

We recognized

interest expense of $43,000 and $85,000 for the three and six-month period ended June 30, 2026, respectively, as compared to $54,000 and

$268,000 during the same periods of 2025, which is all related to our long-term credit agreement.

The decrease in interest expense for

the three and six months ended June 30, 2026 is due to the reduction in debt as a result of the pay down from the sale of the compliance

These amounts are offset by interest income on deposit and money market accounts of $4,000 and $8,000 for the three and six

months ended June 30, 2026, compared to $65,000 and $75,000 for the same periods of the prior year.

Other income (expense)

Other income (expense) represents

the change in fair value of our interest rate swap.

For the three months ended March 31, 2026, Other income (expense) also includes rental

income from our office sub-lease of $12,000.

We recognized income tax benefit

of $121,000 and $185,000 for the three-month periods ended March 31, 2026 and 2025.

For the three-month periods ended March 31, 2026 and

2025, the variance between our effective tax rate and the U.S.

statutory rate of 21% is primarily attributable to state income tax, a

benefit related to the Foreign Derived Intangible Income (“FDII”) deduction and a lower statutory tax rate applied to our Canadian

This is partially offset by additional expense associated with vesting of stock-based compensation awards.

income (expense) represents the change in fair value of our interest rate swap.

For the three and six months ended June 30, 2026, Other

income (expense) also includes rental income from our office sub-lease of $38,000 and $50,000 for the three and six months ended June

30, 2026, respectively.

We recognized income tax expense

of $53,000 for three months ended June 30, 2026 and an income tax benefit of $68,000 for the six months ended June 30, 2026, compared

to an income tax benefit of $9,000 and $194,000 for the three and six months ended June 30, 2025.

For the three and six-month periods

ended June 30, 2026 and 2025, the variance between our effective tax rate and the U.S.

statutory rate of 21% is primarily attributable

to state income tax, a benefit related to the Foreign Derived Intangible Income ("FDII") deduction and a lower statutory tax

rate applied to the Company's Canadian income.

This is partially offset by additional expense associated with vesting of stock-based compensation

Liquidity and Capital Resources

As of March 31, 2026, we had $3,487,000

As of June 30, 2026, we had

$2,962,000 in cash and cash equivalents and $3,450,000 in net accounts receivable.

Current liabilities as of March 31, 2026, totaled $9,862,000 including

the current portion of our long-term debt, accounts payable, deferred revenue, accrued payroll liabilities, income taxes payable, current

portion of lease liabilities and other accrued expenses.

As of March 31, 2026, our current

Current liabilities as of June 30, 2026, totaled

$9,298,000 including the current portion of our long-term debt, accounts payable, deferred revenue, accrued payroll liabilities, income

taxes payable, current portion of lease liabilities and other accrued expenses.

As of June 30, 2026, our current

liabilities exceeded our current assets by $1,681,000.

While our current liabilities exceed current assets, we believe our ability

to renegotiate our Credit Agreement (as defined in Note 9) and ability to continue to generate cash will benefit us in the future.

As of March 31, 2026, the aggregate

principal amount available under our Revolving LOC was $1,500,000 and is set to expire June 30, 2026.

We currently have no plans to utilize

the Revolving LOC but may do so in the future.

If the Company does utilize any funds under the Revolving LOC, the funds will bear interest

at a per annum rate equal to the then current SOFR plus 2.05%.

As of March 31, 2026, there was no outstanding balance under the Revolving

LOC and the interest rate was 5.72%.

See Note 9 to our financial statements for additional information.

Disclosure about Off-Balance Sheet Arrangements

We do not have any transactions,

agreements or other contractual arrangements that constitute off-balance sheet arrangements.

to renegotiate our Credit Agreement (see Note 9 below) and ability to continue to generate cash will benefit us in the future.

June 30, 2026, the aggregate principal amount of our Revolving LOC was $1,500,000 and is set to expire June 30, 2028.

We currently have

no plans to utilize the Revolving LOC but may do so in the future.

If the Company does utilize any funds under the Revolving LOC, the

funds will bear interest at a per annum rate equal to the then current SOFR plus 2.05%.

As of June 30, 2026, there was no outstanding

balance under the Revolving LOC and the interest rate was 5.67%.

Disclosure about Off-Balance

Sheet Arrangements

have any transactions, agreements or other contractual arrangements that constitute off-balance sheet arrangements.

Non-GAAP Measures

The non-GAAP adjustments referenced

below and herein relate to the exclusion of stock-based compensation, amortization of acquisition-related intangible assets.

below and herein relate to the exclusion of stock-based compensation, amortization of acquisition-related intangible assets and other

expenses the Company believes to be non-recurring.

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Management believes that the use

of EBITDA from continuing operations, Adjusted EBITDA from continuing operations, non-GAAP net income (loss) from continuing operations,

non-GAAP net income (loss) from continuing operations per share, free cash flow and adjusted free cash flow is helpful to its investors.

These measures, which are referred to as non-GAAP financial measures, are not prepared in accordance with generally accepted accounting

principles in the United States, or GAAP.

Our management uses these non-GAAP financial measures as tools for financial and operational

decision making and for evaluating our own operating results over different periods of time.

of EBITDA from continuing operations, Adjusted EBITDA from continuing operations, non-GAAP net income from continuing operations, non-GAAP

net income from continuing operations per share, free cash flow and adjusted free cash flow is helpful to its investors.

These measures,

which are referred to as non-GAAP financial measures, are not prepared in accordance with generally accepted accounting principles in

the United States, or GAAP.

Our management uses these non-GAAP financial measures as tools for financial and operational decision making

and for evaluating our own operating results over different periods of time.

EBITDA from continuing operations

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change in fair value of our interest rate swap.

Non-GAAP net income (loss) from

continuing operations is calculated by excluding stock-based compensation expense and amortization expense for acquisition-related intangible

assets from loss from continuing operations and certain other adjustments noted in the tables below.

Non-GAAP net income (loss) from continuing

operations per share is calculated by dividing non-GAAP net income (loss) from continuing operations by the weighted-average diluted shares

outstanding as presented in the calculation of GAAP net income (loss) from continuing operations per share.

Because of varying available

valuation methodologies, subjective assumptions and the variety of equity instruments that can impact a company’s non-cash expenses,

management believes that providing non-GAAP financial measures that exclude stock-based compensation expense allows for more meaningful

comparisons between its operating results from period to period.

For business combinations, management generally allocates a portion of

the purchase price to intangible assets.

The amount of the allocation is based on estimates and assumptions made by management and is

subject to amortization.

The amount of purchase price allocated to intangible assets and the term of its related amortization can vary

significantly and are unique to each acquisition and thus management does not believe they are reflective of ongoing operations.

Non-GAAP net income from continuing

operations is calculated by excluding stock-based compensation expense and amortization expense for acquisition-related intangible assets

from loss from continuing operations and certain other adjustments noted in the tables below.

Non-GAAP net income from continuing operations

per share is calculated by dividing non-GAAP net income from continuing operations by the weighted-average diluted shares outstanding

as presented in the calculation of GAAP net income (loss) from continuing operations per share.

Because of varying available valuation

methodologies, subjective assumptions and the variety of equity instruments that can impact a company’s non-cash expenses, management

believes that providing non-GAAP financial measures that exclude stock-based compensation expense allows for more meaningful comparisons

between its operating results from period to period.

For business combinations, management generally allocates a portion of the purchase

price to intangible assets.

The amount of the allocation is based on estimates and assumptions made by management and is subject to amortization.

The amount of purchase price allocated to intangible assets and the term of its related amortization can vary significantly and are unique

to each acquisition and thus management does not believe they are reflective of ongoing operations.

Free cash flow, a non-GAAP measure,

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measures included below and not rely on any single financial measure to evaluate our business.

A reconciliation of net income

to adjusted EBITDA for the years ended March 31, 2026 and 2025 is presented in the following table (in thousands):

Three Months Ended March 31,

reconciliation of net income to adjusted EBITDA for the three and six months ended June 30, 2026 and 2025 is presented in the following

table (in thousands):

Three Months Ended June 30,

Net loss from continuing operations:

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Interest expense, net

Income tax expense (benefit)

EBITDA from continuing operations

Acquisition and/or integration costs (1)

Other non-recurring expenses (2)

Stock-based compensation expense (3)

Adjusted EBITDA from continuing operations:

Six Months Ended June 30,

Net loss from continuing operations:

Depreciation and amortization

Interest expense, net

Income tax benefit

5 unchanged sentences

This adjustment gives effect to one-time corporate projects, including acquisition, divestiture and integration related expenses, incurred during the periods.

For the three months ended March 31, 2026, this adjustment reflects the gain on the change in fair value of our interest rate swap of $11,000 and non-recurring expenses of $289,000.

For the three months ended March 31, 2025, this adjustment reflects the loss on the change in fair value of our interest rate swap of $69,000 as well as corporate re-brand costs of $132,000 and non-recurring accounting fees of $35,000.

For the three and six months ended June 30, 2026, this adjustment gives effect to the gain on the change in fair value of our interest rate swap of $8,000 and $19,000, respectively and non-recurring fees of $50,000 and $339,000, respectively.

For the three months ended June 30, 2025, this adjustment gives effect to the loss on the change in fair value of our interest rate swap of $10,000 and non-recurring fees of $85,000.

For the six months ended June 30, 2025, this adjustment gives effect to the loss on the change in fair value of our interest rate swap of $79,000, as well as corporate re-brand costs of $132,000 and non-recurring fees of $120,000.

The adjustments represent stock-based compensation expense from continuing operations related to awards of stock options, restricted stock units, or common stock in exchange for services.

Although we expect to continue to award stock in exchange for services, the amount of stock-based compensation is excluded as it is subject to change as a result of one-time or non-recurring projects.

A reconciliation of net income

to adjusted net income for the three months ended March 31, 2026 and 2025 is presented in the following table (in thousands):

Three Months Ended March 31,

A reconciliation

of net income to adjusted net income for the three months ended June 30, 2026 and 2025 is presented in the following table (in thousands):

Three Months Ended June 30,

Net loss from continuing operations:

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Weighted average number of common shares outstanding – diluted

Six Months Ended June 30,

Net loss from continuing operations:

Amortization of intangible assets (1)

Stock-based compensation expense (2)

Other unusual items (3)

Discrete items impacting income tax expense (4)

Tax impact of adjustments (5)

Non-GAAP net income from continuing operations:

Weighted average number of common shares outstanding – diluted

The adjustments represent the amortization of intangible assets related to acquired assets and companies.

1 unchanged sentence

For the three months ended March 31, 2026, this adjustment reflects the gain on the change in fair value of our interest rate swap of $11,000 and non-recurring expenses of $289,000.

For the three months ended March 31, 2025, this adjustment reflects the loss on the change in fair value of our interest rate swap of $69,000, one-time corporate projects, including acquisition, divestiture and integration costs of $129,000, corporate re-brand costs of $132,000 and non-recurring accounting fees of $35,000.

For the three months ended June 30, 2025, this adjustment gives effect to the loss on the change in fair value of our interest rate swap of $10,000 and non-recurring fees, including acquisition, integration and divestiture costs of $157,000.

This adjustment gives effect to discrete items that impact income tax expense.

For the three months ended March 31, 2026 and 2025, this relates to additional expense associated with vesting of stock-based compensation awards.

For the three and six months ended June 30, 2026 and 2025, this relates to additional expense associated with vesting of stock-based compensation awards.

This adjustment gives effect to the tax impact of all non-GAAP adjustments at the current Federal tax rate of 21%.

For the three months ended March 31, 2026 and 2025, this adjustment relates to additional income tax expense associated with exercise of stock awards.

For the three months ended March

31, 2026 and 2025, free cash flow and adjusted free cash flow were as follows (in thousands):

Three Months Ended March 31,

three and six months ended June 30, 2026 and 2025, free cash flow and adjusted free cash flow were as follows (in thousands):

Three Months Ended June 30,

Net cash provided by operating activities of (GAAP)

Payments for purchase of fixed assets and capitalized software

Free cash flow from continuing operations (Non-GAAP)

Cash paid for acquisition and integration related items (1)

Cash paid for other unusual items (2)

Adjusted free cash flow from continuing operations (Non-GAAP)

Six Months Ended June 30,

Net cash provided by operating activities (GAAP)

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This adjustment gives effect to one-time corporate projects, including acquisition, divestiture and integration related expenses, paid during the periods.

For the three months ended March 31, 2026, this related to payment of non-recurring expenses.

For the three months ended March 31, 2025, this relates to payments related to our corporate re-brand and other non-recurring accounting fees.

The following statements are

forward looking and are subject to factors that could cause actual results to differ materially from those suggested here, including,

without limitation, demand for and acceptance of our services, new developments, competition and general economic or market conditions,

particularly in the domestic and international capital markets.

Refer also to the Cautionary Statement Concerning Forward Looking Statements

included in this report.

Market factors like the current

military conflicts in Ukraine, Iran and the Middle East overall, tariff wars, instability in global energy markets, global inflation and

the increase of interest rates have contributed to significant global economic and political uncertainty, disrupted global trade and supply

chains, adversely impacted many industries, and contributed to significant volatility in financial markets.

Overall, despite many uncertainties

in the market regarding the economic and political outlook, we believe the demand for our platforms and services is stable in a majority

of the markets we serve.

We believe there is demand for

our products around the world as companies seek to find better platforms and tools to disseminate and communicate their messages in a

more efficient and collaborative way.

We also believe the continued

transition to a platform subscription model has been and will continue to be key for our long-term sustainable growth.

We will also continue

to focus on the following key strategic initiatives during the remainder of 2025:

For the six months ended June 30, 2026, this relates to payments related to non-recurring expenses.

For the three and six months ended June 30, 2025, this relates to payments related to our corporate re-brand and other non-recurring fees.

The following

statements are forward looking and are subject to factors that could cause actual results to differ materially from those suggested here,

including, without limitation, demand for and acceptance of our services, new developments, competition and general economic or market

conditions, particularly in the domestic and international capital markets.

Refer also to the Cautionary Statement Concerning Forward

Looking Statements included in this report.

factors like the current military conflicts in Ukraine, Israel and the Middle East, tariff wars, instability in global energy markets,

global inflation and the increase of interest rates have contributed to significant global economic and political uncertainty, disrupted

global trade and supply chains, adversely impacted many industries, and contributed to significant volatility in financial markets.

despite many uncertainties in the market regarding the economic and political outlook, we believe the demand for our platforms and services

is stable in a majority of the markets we serve.

there is demand for our products around the world as companies seek to find better platforms and tools to disseminate and communicate

their messages in a more efficient and collaborative way.

believe the continued transition to a platform subscription model has been and will continue to be key for our long-term sustainable growth.

We will also continue to focus on the following key strategic initiatives during the remainder of 2026:

Expanding our products and adapting to this changing industry,

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Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements

that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues

or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to stockholders.

QUANTITATIVE AND QUALITATIVE DISCLOSURES

ABOUT MARKET RISK.

no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes

in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material

to stockholders.

QUANTITATIVE AND

QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Not applicable.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 2. Management’s Discussion and Analysis