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Amesite Inc. (AMST)·Q3 2025 Earnings Summary

Executive Summary

  • Q3 2025 revenue was $30,690, up 2.4x QoQ vs Q2 2025, driven by targeted sales motions and product enhancements in NurseMagic; operating expenses fell sharply, improving quarterly loss trajectory .
  • Management highlighted accelerating B2B demand (Teams Plus+) and B2C traction, with user growth of 1,340% after paid subscriptions launched, and reported evenly distributed B2B/B2C revenue mix .
  • No formal numerical guidance was issued; management expects continued growth into Q4 while focusing on margins and operational efficiency .
  • No sell-side consensus was available for EPS or revenue for Q3 2025; comparisons to estimates could not be made (values and availability retrieved from S&P Global).*

What Went Well and What Went Wrong

What Went Well

  • NurseMagic revenue rose 2.4x QoQ in Q3 2025; management attributed growth to targeted sales/marketing and product enhancements, with expenses reduced while scaling sales .
  • Strong early product-market fit: “Our outstanding customer feedback validates a strong product-market fit…we are in very good position to grow revenue efficiently” — CEO Dr. Ann Marie Sastry .
  • B2B enterprise momentum: launch of Teams Plus+ led to faster onboarding and increased intensity of usage; “closing sales and onboarding teams within days or weeks” — VP Sales Brandon Owens .

What Went Wrong

  • Absolute scale remains very small: Q3 2025 revenue of $30,690 and net loss of $663,418 reflect early-stage scale and continued losses .
  • Going-concern uncertainty persists; management stated substantial doubt about ability to continue as a going concern without additional financing .
  • Internal control material weaknesses: management concluded disclosure controls were not effective, citing issues around journal entry approvals, stock comp classification, and deferred revenue recognition controls .

Financial Results

MetricQ1 2025Q2 2025Q3 2025
Revenue ($USD)$11,250 $12,760 $30,690
Net Income ($USD)$(908,045)*$(1,121,637)*$(663,418)*
Diluted EPS ($USD)$(0.3354)*$(0.4017)*$(0.1636)*
EBIT ($USD)$(927,344)*$(1,130,869)*$(687,722)
EBITDA ($USD)$(921,008)*$(905,995)*$(681,385)*
Total Operating Expenses ($USD)$938,594 $1,143,629 $718,412
Cash & Equivalents ($USD)$1,434,753 $519,706 $2,858,963

Values marked with an asterisk (*) retrieved from S&P Global.

Notes:

  • QoQ Revenue growth: +2.4x (Q3 vs Q2) consistent with press release .
  • Material OpEx reduction QoQ to $718,412 improved operating loss despite low absolute revenues .

Segment breakdown: Not disclosed (single-product/company reporting).

KPIs

KPIQ1 2025Q2 2025Q3 2025
User Growth (%)n/an/a1,340% (management-reported)
Hospice Enterprise Sales Growth (%)n/an/a>3,000% (last 3 months)
Hospice Deal Size Growth (%)n/an/a~1,000% (last 3 months)
B2B/B2C Revenue Mixn/an/aEvenly distributed B2B/B2C (qualitative)
One Customer Revenue Concentrationn/an/a37% of Q3 revenue
Deferred Revenue ($USD)n/an/a$3,835

Guidance Changes

MetricPeriodPrevious GuidanceCurrent GuidanceChange
RevenueQ4 2025None“Look forward to more growth in Q4” (no numeric range) Maintained qualitative outlook
Operating ExpensesFY 2025 run-rateNone“Continued to cut operating expenses” (no numeric range) Qualitative reduction focus
MarginsFY 2025/Q4 2025None“Maintaining healthy margins” (no numeric range) Qualitative

No formal numerical guidance (revenue, EPS, margins, OpEx, OI&E, tax rate, dividends) was provided this quarter .

Earnings Call Themes & Trends

No Q3 2025 earnings call transcript was available; themes below reflect press releases and 10-Q commentary.

TopicPrevious Mentions (Q-2 and Q-1)Current Period (Q3 2025)Trend
AI/Technology InitiativesExpanded caregiver tool; rapid model tuning; infrastructure built for speed and HIPAA compliance Product enhancements drove 2.4x QoQ revenue; HIPAA expanded to all users Strengthening
Regulatory/HIPAAHIPAA for enterprises; progress with BAAs HIPAA requirements now met for all users (individual + enterprise) Improving coverage
B2B Enterprise MomentumAutomated enterprise sales flow; faster closures; larger franchisees Teams Plus+ for higher usage; faster onboarding and scaling Accelerating
B2C TractionPaid consumer subscriptions rollout 1,340% user growth after paid subs Rapid growth
Macroeconomics/Tariffsn/aOperations unaffected by newly announced U.S. tariffs; domestic, cloud-native footprint Neutral/insulated
Revenue Model/Pivotn/aShort-term revenue reduction YoY while expanding customer base and reducing cash burn; pivot away from large cash-upfront deals Strategic transition
Internal Controlsn/aMaterial weaknesses in disclosure controls and procedures identified Risk to address

Management Commentary

  • CFO perspective: “Revenues are presently evenly distributed between B2B and B2C…Q3 2025 had a significant increase of 2.4x in revenue…we further reduced expenses while scaling sales” — Sarah Berman .
  • Sales momentum: “We delivered Teams Plus+…closing sales and onboarding teams within days or weeks” — Brandon Owens .
  • Product traction: “User growth of 1340% over Q3, following the launch of paid subscriptions in Q2” — Madison Bush .
  • Strategy and margins: “Confident we can continue to deliver…while maintaining healthy margins…nimble development process…grow revenue efficiently” — Dr. Ann Marie Sastry .
  • Regulatory expansion: “Meeting HIPAA requirements for all of our users…reinforces our commitment to trust, privacy, and long-term value” — Kalie Wortinger .

Q&A Highlights

No Q3 2025 earnings call transcript was available; no Q&A items to report (we searched for earnings-call-transcript and found none for Q3 2025) .

Estimates Context

  • S&P Global consensus: No consensus EPS or revenue estimates available for Q3 2025; Target Price consensus also unavailable (availability retrieved from S&P Global).*
  • Actuals: Revenue $30,690 and EBITDA $(681,385) per S&P Global dataset for Q3 2025; EPS reported was $(0.16) per company 10-Q (no sell-side estimate to compare) .*
MetricQ3 2025 ActualQ3 2025 ConsensusSurprise
Revenue ($USD)$30,690 n/a*n/a
EPS ($USD)$(0.1636)*n/a*n/a
EBITDA ($USD)$(681,385)*n/a*n/a

Values marked with an asterisk (*) retrieved from S&P Global.

Implications: With no consensus, estimate-driven beat/miss narratives are unavailable; future coverage expansion may be needed before markets anchor on quarterly estimate compares.

Key Takeaways for Investors

  • QoQ inflection: Revenue up 2.4x QoQ with materially lower OpEx, improving loss trajectory despite micro-scale absolute revenue; watch for sequential scaling confirmation in Q4 .
  • Execution drivers: Sales/process optimizations (Teams Plus+, automated onboarding), HIPAA expansion to all users, and hospice segment momentum (deal sizes and enterprise growth) support near-term revenue capture .
  • Risk profile: Going-concern uncertainty and internal control weaknesses elevate execution/financing risk; cash of ~$2.86M at quarter-end and January 2025 raise extend runway but sustained losses continue .
  • Concentration/scale: One customer was 37% of Q3 revenue; diversification and scaling B2B/B2C cohorts will be key to revenue durability .
  • Narrative catalyst: Proof of sustained multi-quarter growth and tightening unit economics (margins/OpEx per sale) could drive sentiment; absence of consensus estimates reduces “beat/miss” trading catalysts until coverage expands.*
  • Strategic pivot: Transition away from large cash-upfront deals toward broader customer base with faster cycle times may suppress near-term revenue YoY but improve cash burn and growth durability, per MD&A .
  • Regulatory insulation: Tariff exposure minimal given domestic, cloud-native operations, removing a macro headwind .

References: Q3 2025 10-Q (filed May 15, 2025) –; Q3 press release/8-K 2.02 (May 16, 2025) ; HIPAA expansion (Apr 22, 2025) ; tariffs update (Apr 4, 2025) ; hospice and caregiver rollout (Mar 5 & Mar 11, 2025) .