Executive Summary

Q3 2025 delivered rapid scale-up but at modest absolute levels: net revenue $1.25M (+1,884% YoY; +44% QoQ) with gross profit $1.17M; net loss widened to $5.15M as SG&A ramped for creator-platform operations .
Management reiterated sequential revenue growth into Q4 and now guides to near-profitability in Q4 2025 and GAAP profitability in Q1 2026, a clarifying tweak vs prior “temporary profit” language .
Cost actions announced: direct and contracted labor expense reductions of approximately $215K per month starting in December via expanded AI initiatives, a tangible OpEx lever into Q4/Q1 .
Liquidity improved post quarter with $9.2M gross proceeds primarily from ATM and ELOC facilities, a key enabler for growth and working capital through holiday season .

What Went Well and What Went Wrong

What Went Well

Creator commerce traction: Q3 net revenue rose to $1.25M, up 44% sequentially “despite being in our seasonally slowest period,” demonstrating platform velocity heading into holiday .
Product/AI innovation: launch of Amaze Moments AI to detect engagement spikes and activate commerce; early usage by marquee influencers like Perez Hilton and gaming creator Mystic7 .
Strategic expansion: acquired The Food Channel to deepen culinary category and integrated with Dubit.io to build 3D storefronts across Roblox/Fortnite—broadening surface area for GMV growth .

What Went Wrong

Losses expanded with scale: net loss of $5.15M vs $0.32M YoY, driven by +$4.3M SG&A tied to personnel, legal/professional for reverse merger, and marketing to drive growth; several one-time transition costs also hit Q3 .
KPI deceleration QoQ in some metrics: GMV fell to $2.7M (from $3.8M in Q2), and U.S. conversion rate to 0.33% (from 0.41%), consistent with seasonality and platform mix effects .
Earnings call transcript unavailable: no incremental detail from live Q&A to triangulate execution risks/opportunities; reliance on release/8-K narrative for guidance and drivers (no transcript found).

Financial Results

Revenue, EPS, Margins vs Prior Periods and Estimates

Metric	Q1 2025	Q2 2025	Q3 2025
Revenue ($USD)	$0.06M*	$0.87M	$1.25M
Gross Profit ($USD)	$(0.003)M*	$0.79M	$1.17M
Gross Margin (%)	-4.3%*	90.5%*	93.5%*
Net Income ($USD)	$(2.09)M*	$(5.05)M	$(5.15)M
Diluted EPS ($USD)	$(2.99)*	$(3.14)	$(0.85)
EBITDA ($USD)	$(1.89)M*	$(4.28)M*	$(4.36)M*
EBITDA Margin (%)	N/A*	N/A*	N/A*

Notes: Asterisked values retrieved from S&P Global.

Estimates comparison: S&P Global consensus for AMZE was unavailable for Q3 and Q2 (GetEstimates returned actuals but no consensus values). As a result, “vs estimates” cannot be shown and is noted as unavailable.

KPIs

KPI	Q2 2025	Q3 2025
GMV ($USD)	$3.8M	$2.7M
AOV ($USD)	$50.00 (1H 2025)	$50.20 (YTD 2025)
U.S. Conversion Rate	0.41%	0.33%
Creator LTV ($USD)	$200.00	$200.00
Active Creators with Stores	Over 12M	12.2M
Total Active Visitors	Over 200M	Over 350M

Segment breakdown: Not disclosed in Q3 press release/8-K .

Guidance Changes

Metric	Period	Previous Guidance (Q2 2025 release)	Current Guidance (Q3 2025 release)	Change
Net Revenue trajectory	Q4 2025	“Revenue continuing to ramp sequentially”	“Net revenue to rise sequentially”	Maintained
Profitability timing	Q4 2025	“Temporary profit in Q4 2025/Q1 2026”	“Near-profitability in Q4 2025”	Clarified/slightly tempered
Profitability timing	Q1 2026	“Temporary profit in Q4 2025/Q1 2026”	“GAAP profitability in Q1 2026”	Clarified/raised precision
GMV	Q4 2025	Ramp with seasonality implied	“Healthy ramp in GMV”	Maintained/expanded
Direct + contracted labor	Starting Dec 2025	Not previously quantified	“Reduced by ~$215K/month beginning in December”	New OpEx reduction initiative

No disclosures on tax rate, OI&E, or dividend policy in Q3 materials .

Earnings Call Themes & Trends

Note: Q3 2025 earnings call transcript for AMZE not found; below trends leverage Q3 press release and Q2 shareholder letter.

Topic	Previous Mentions (Q-2)	Previous Mentions (Q-1)	Current Period (Q3)	Trend
AI/technology initiatives	Express Checkout, AI-driven selling tools; VisitIQ data; Stablecoin payments; Digital Fits beta	Not available	Launch of “Amaze Moments” advanced AI engine for engagement spikes	Expanding AI scope; commercialization focus
Supply chain	Optimization and global integrations discussed	Not available	Consolidating elements of supply chain to remove costs	Cost discipline intensifying
Product performance/GMV	GMV $3.8M and platform growth	Not available	GMV $2.7M; seasonally slow period; expecting Q4 ramp	Seasonal dip; outlook for rebound
Regional/platform expansion	Partnerships (Picsart, Parler; Roblox)	Not available	Integration with Dubit.io for Roblox/Fortnite storefronts	Deeper gaming ecosystem
Regulatory/legal	Reverse merger-related professional fees noted	Not available	Continued legal/professional costs flagged in SG&A	Transitional costs persist but should normalize
R&D/product roadmap	Tooling for mid-sized creators; data-driven monetization	Not available	Amaze Moments deployment; AI expansion across operations	Execution in AI features
Category expansion	Broad creator base and monetization tools	Not available	The Food Channel acquisition; culinary vertical expansion	Category diversification accelerates

Management Commentary

“Interest in Amaze Moments has been tremendous so far… already leveraging our new advanced AI engine to remain ahead of the curve and capitalize on fast-moving trends.” — Aaron Day, CEO .
“Financially, we generated $1.25 million in net revenue this quarter, a strong 44% sequential increase despite being in our seasonally slowest period.” — Aaron Day, CEO .
“We’re expecting to see a healthy ramp in GMV and net revenue… which should substantially flow through to our bottom line.” — Aaron Day, CEO .
“We generated $0.87 million in net revenue this quarter, which we view as a strong baseline for future growth.” — Aaron Day, CEO (Q2) .

Q&A Highlights

Q3 2025 AMZE earnings call transcript was not available via document search; therefore specific Q&A themes and management clarifications cannot be cited. The report relies on 8-K/press release and Q2 shareholder letter .

Estimates Context

S&P Global consensus estimates for AMZE were unavailable for Q3 2025 and Q2 2025 (GetEstimates returned actuals only; no consensus mean or estimate counts). As such, comparisons to Street estimates cannot be provided and should be considered unavailable from S&P Global for these periods.
Where financials are marked with an asterisk in tables, values were retrieved from S&P Global.

Key Takeaways for Investors

Platform momentum into holiday: despite seasonal softness in Q3, sequential revenue growth (+44% QoQ) and management’s expectation for GMV/net revenue ramp into Q4 signal near-term top-line catalysts .
Profitability path clarified: guidance now targets near-profitability in Q4 and GAAP profitability in Q1 2026; paired with ~$215K/month OpEx reductions starting December, improving operating leverage is a core narrative .
Liquidity bolster: $9.2M gross proceeds post quarter-end improve capacity to fund growth and inventory/supply chain needs through peak season .
Execution focus areas: stabilize conversion rate and GMV while scaling AI-driven commerce (Amaze Moments) and expanding verticals (Food Channel, gaming storefronts) to drive sustained revenue and margin expansion .
Monitor SG&A normalization: Q3 loss enlargement was driven by SG&A and one-time merger transition items—investors should watch for OpEx discipline and one-time items rolling off .
Data and partnerships as moat: integrations (Picsart, Parler; Dubit/Roblox/Fortnite) deepen network effects; richer dataset (350M visitors) enhances AI tools and monetization efficacy .
Estimates unavailable: lack of S&P Global consensus limits beat/miss framing; near-term trading likely hinges on reported sequential growth, holiday GMV ramp, and proof of OpEx savings translating to margin improvement.

Citations: Q3 2025 8-K and Exhibit 99.1 press release ; Q2 2025 8-K, corrected release, and shareholder letter .

AMAZE HOLDINGS, INC. (AMZE)·Q3 2025 Earnings Summary