What is Atlantic International's operating income?

Atlantic International's total operating income in 2025 was -$50.23 million, based on the following breakdown: Total Gross Profit: $45.99 million Total Operating Expenses: $96.22 million

Atlantic International (CIRC) Financials

$0.72 +0.01 (+1.27%)

As of 08/28/2026 04:00 PM Eastern

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Annual Income Statements for Atlantic International

This table shows Atlantic International's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-3.82	-4.09	-15	-135	-59
Consolidated Net Income / (Loss)	-3.70	-4.09	-15	-135	-59
Net Income / (Loss) Continuing Operations	-3.82	-4.09	-15	-135	-59
Total Pre-Tax Income	-3.82	-4.09	-21	-130	-59
Total Operating Income	-2.55	-4.00	-3.45	-22	-50
Total Gross Profit	0.15	0.08	47	47	46
Total Revenue	0.05	0.08	401	443	436
Operating Revenue	0.05	0.08	401	443	436
Total Cost of Revenue	0.06	0.00	354	395	390
Operating Cost of Revenue	0.06	0.00	354	395	390
Total Operating Expenses	2.70	4.08	50	69	96
Selling, General & Admin Expense	2.17	2.51	45	64	91
Depreciation Expense	-	-	5.04	4.99	4.93
Total Other Income / (Expense), net	-1.11	-0.10	-18	-108	-9.16
Interest Expense	1.14	0.09	18	13	9.16
Other Income / (Expense), net	-0.01	-0.05	0.00	-95	0.00
Income Tax Expense	-	-	-5.93	5.38	0.03
Basic Earnings per Share	($0.51)	($12.38)	($0.60)	($3.68)	($1.08)
Weighted Average Basic Shares Outstanding	7.22M	330.65K	25.42M	36.78M	54.85M
Diluted Earnings per Share	-	-	($0.60)	($3.68)	($1.08)
Weighted Average Diluted Shares Outstanding	-	13.89M	25.42M	36.78M	54.85M

This table shows Atlantic International's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	-3.92	-5.99	-4.87	-55	-7.05	-72	-11	-11	-11	-31	-86
Consolidated Net Income / (Loss)	-3.92	-6.00	-4.87	-55	-7.05	-72	-11	-11	-11	-31	-86
Net Income / (Loss) Continuing Operations	-3.92	-6.00	-4.87	-55	-7.05	-72	-11	-11	-11	-31	-86
Total Pre-Tax Income	-5.27	-9.05	-6.16	-72	-8.27	-49	-11	-11	-11	-31	-88
Total Operating Income	-0.38	-0.21	-1.14	-8.31	-6.51	-5.94	-9.45	-8.68	-8.72	-15	-15
Total Gross Profit	12	24	10	11	12	24	11	11	12	21	24
Total Revenue	98	214	101	105	108	230	103	103	110	250	320
Operating Revenue	98	-	101	105	108	-	103	103	110	250	320
Total Cost of Revenue	86	190	90	93	96	206	92	91	98	228	296
Operating Cost of Revenue	86	-	90	93	96	-	92	91	98	228	296
Total Operating Expenses	12	24	12	20	18	-13	21	20	21	36	39
Selling, General & Admin Expense	10	23	10	19	17	28	19	19	20	32	35
Depreciation Expense	1.26	-	1.26	1.25	1.25	-	1.24	1.23	1.23	4.33	4.43
Total Other Income / (Expense), net	-4.89	-9.25	-5.02	-64	-1.76	-86	-1.28	-2.02	-2.09	-16	-72
Interest Expense	4.89	13	5.02	5.21	1.47	10	1.28	2.02	2.09	3.32	4.51
Other Income / (Expense), net	0.00	-	-	-59	-0.29	-	0.00	0.00	0.00	-13	-68
Income Tax Expense	-1.35	-	-1.29	-17	-1.22	-	0.01	0.01	0.01	-0.07	-1.38
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	-	-	-	-	-	0.06	0.00
Basic Earnings per Share	($0.15)	($0.24)	($0.19)	($1.96)	($0.16)	($1.97)	($0.20)	($0.20)	($0.20)	($0.44)	($0.98)
Weighted Average Basic Shares Outstanding	25.42M	25.42M	25.42M	28.08M	44.69M	36.78M	53.98M	54.55M	55.12M	74.01M	80.97M
Diluted Earnings per Share	($0.15)	($0.24)	($0.19)	($1.96)	($0.16)	($1.97)	($0.20)	($0.20)	($0.20)	($0.44)	($0.98)
Weighted Average Diluted Shares Outstanding	25.42M	25.42M	25.42M	28.08M	44.69M	36.78M	53.98M	54.55M	55.12M	74.01M	80.97M
Weighted Average Basic & Diluted Shares Outstanding	380.65K	0.00	380.65K	48.73M	50.15M	62.42M	-	58.38M	58.53M	81.29M	114.41M

This table details how cash moves in and out of Atlantic International's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	4.02	-1.83	-0.36	-0.67	-0.60
Net Cash From Operating Activities	-1.99	-3.66	-9.08	-5.99	-4.40
Net Cash From Continuing Operating Activities	-1.99	-3.66	-9.08	-5.98	-4.40
Net Income / (Loss) Continuing Operations	-3.70	-4.09	-15	-135	-59
Consolidated Net Income / (Loss)	-3.70	-4.09	-15	-135	-59
Depreciation Expense	0.09	0.09	5.04	4.99	4.93
Amortization Expense	-	-	0.67	2.27	1.87
Non-Cash Adjustments To Reconcile Net Income	1.51	0.50	7.12	98	41
Changes in Operating Assets and Liabilities, net	0.12	-0.16	-6.66	24	7.18
Net Cash From Investing Activities	-5.99	1.83	-0.07	-0.07	-0.07
Net Cash From Continuing Investing Activities	-5.99	1.83	-0.07	-0.07	-0.07
Purchase of Property, Plant & Equipment	-0.01	-0.04	-0.07	-0.07	-0.07
Net Cash From Financing Activities	12	0.00	8.79	5.38	3.87
Net Cash From Continuing Financing Activities	12	0.00	8.79	5.38	3.87
Repayment of Debt	-0.58	0.00	-398	-443	-479
Issuance of Debt	0.39	-	406	442	482
Other Financing Activities, net	-	-	0.00	6.67	0.00
Cash Interest Paid	-	-	9.15	6.93	4.78

This table details how cash moves in and out of Atlantic International's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	0.16	-0.38	-0.53	0.96	-0.72	0.79	-1.09	-0.29	-0.00	24	-4.77
Net Cash From Operating Activities	-12	11	-15	-1.34	-0.43	15	-9.53	-1.26	-8.18	-9.89	-3.85
Net Cash From Continuing Operating Activities	-12	11	-15	-1.34	-0.43	15	-9.53	-1.26	-8.18	-9.89	-3.85
Net Income / (Loss) Continuing Operations	-5.39	-4.87	-55	-7.05	-69	-11	-11	-11	-27	-31	-86
Consolidated Net Income / (Loss)	-5.39	-4.87	-55	-7.05	-69	-11	-11	-11	-27	-31	-86
Depreciation Expense	1.25	1.26	1.25	1.25	1.24	1.24	1.23	1.23	1.23	4.33	4.43
Amortization Expense	0.25	0.70	0.38	0.72	0.05	0.05	0.04	0.42	0.49	0.93	0.56
Non-Cash Adjustments To Reconcile Net Income	7.31	0.83	58	-1.68	43	6.82	6.68	4.68	26	18	69
Changes in Operating Assets and Liabilities, net	-15	13	-20	5.42	24	17	-6.77	3.23	-8.62	-2.14	8.50
Net Cash From Investing Activities	0.00	-0.01	-0.02	-0.02	-0.02	-0.01	-0.02	-0.01	-0.02	-0.04	-0.04
Net Cash From Continuing Investing Activities	0.00	-0.01	-0.02	-0.02	-0.02	-0.01	-0.02	-0.01	-0.02	-0.04	-0.04
Purchase of Property, Plant & Equipment	0.00	-0.01	-0.02	-0.02	-0.02	-0.01	-0.02	-0.01	-0.02	-0.04	-0.04
Net Cash From Financing Activities	12	-12	15	2.31	-0.27	-14	8.46	0.98	8.20	35	-1.87
Net Cash From Continuing Financing Activities	12	-12	15	2.31	-0.27	-14	8.46	0.98	8.20	35	-1.87
Repayment of Debt	-109	-114	-98	-106	-122	-121	-132	-106	-119	-113	-119
Issuance of Debt	121	103	106	108	122	108	141	107	127	109	114
Other Financing Activities, net	-	-	-	-	-	0.00	-	-	-	34	3.21
Cash Interest Paid	0.13	2.31	1.74	1.39	1.49	2.31	0.00	1.20	1.27	3.51	0.73

This table presents Atlantic International's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	0.69	11	8.41	127	120	113
Total Current Assets	0.34	10	6.64	79	85	81
Cash & Equivalents	0.00	4.02	2.18	1.35	0.68	0.08
Accounts Receivable	0.14	0.07	0.08	64	73	70
Prepaid Expenses	0.00	0.19	0.17	3.68	1.70	3.12
Other Current Assets	-	-	-	8.00	8.00	8.00
Plant, Property, & Equipment, net	0.34	0.27	0.53	0.43	0.31	0.24
Total Noncurrent Assets	0.01	0.05	1.25	47	34	32
Noncurrent Note & Lease Receivables	-	-	-	-	-	0.00
Goodwill	-	-	-	-	-	0.00
Intangible Assets	-	-	-	36	31	27
Noncurrent Deferred & Refundable Income Taxes	-	-	-	5.24	-	0.00
Other Noncurrent Operating Assets	0.01	0.05	1.25	6.00	3.03	5.19
Total Liabilities & Shareholders' Equity	0.69	11	8.41	127	120	113
Total Liabilities	4.55	2.56	4.05	166	132	145
Total Current Liabilities	1.01	2.56	1.23	162	94	115
Short-Term Debt	0.03	1.38	0.00	139	44	56
Accounts Payable	0.86	0.87	0.62	17	24	25
Accrued Expenses	0.12	0.31	0.50	-	23	33
Other Current Liabilities	-	0.00	0.11	5.82	3.40	1.46
Total Noncurrent Liabilities	3.54	0.00	2.82	4.46	38	30
Long-Term Debt	1.11	0.00	1.38	0.00	37	29
Capital Lease Obligations	-	0.00	0.00	-	-	0.00
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	-	0.00
Other Noncurrent Operating Liabilities	2.43	-	1.44	4.46	0.81	1.54
Commitments & Contingencies	-	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	-	-	0.00
Total Equity & Noncontrolling Interests	-3.85	8.18	4.37	-39	-12	-32
Total Preferred & Common Equity	-3.85	8.18	4.37	-39	-12	-32
Total Common Equity	-3.85	8.18	4.37	-39	-12	-32
Common Stock	6.86	23	23	22	123	163
Retained Earnings	-11	-14	-19	-62	-135	-195
Accumulated Other Comprehensive Income / (Loss)	-	0.00	0.02	-	-	0.00

This table presents Atlantic International's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	3/31/2025	6/30/2024	9/30/2024	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	5.51	106	134	136	107	110	981	966
Total Current Assets	3.73	73	73	74	68	72	328	331
Cash & Equivalents	3.73	1.47	0.44	1.40	0.37	0.08	24	19
Accounts Receivable	0.00	46	58	49	56	60	190	185
Prepaid Expenses	0.00	7.33	5.85	5.34	3.61	3.76	3.65	12
Other Current Assets	-	18	8.00	19	8.00	8.00	110	114
Plant, Property, & Equipment, net	0.67	0.28	0.36	0.32	0.27	0.25	1.60	1.37
Total Noncurrent Assets	1.11	34	61	61	38	38	652	633
Noncurrent Note & Lease Receivables	-	-	-	-	-	-	2.05	1.99
Goodwill	-	-	-	-	-	-	449	439
Intangible Assets	-	30	34	33	29	28	192	186
Noncurrent Deferred & Refundable Income Taxes	-	-	24	25	-	-	0.38	0.00
Other Noncurrent Operating Assets	1.11	3.31	3.57	3.22	9.38	11	8.52	6.13
Total Liabilities & Shareholders' Equity	5.51	106	134	136	107	110	981	966
Total Liabilities	3.75	121	111	119	125	132	926	988
Total Current Liabilities	1.01	117	68	82	52	58	836	843
Short-Term Debt	-	65	37	44	3.33	3.33	469	457
Accounts Payable	0.41	50	27	33	47	25	317	324
Accrued Expenses	0.36	-	-	-	-	29	40	44
Other Current Liabilities	0.25	2.69	4.32	4.26	1.28	1.15	11	11
Total Noncurrent Liabilities	2.74	3.07	43	38	73	74	90	145
Long-Term Debt	1.38	1.95	42	37	72	73	45	109
Capital Lease Obligations	0.07	-	-	-	-	-	-	1.38
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	-	-	32	30
Other Noncurrent Operating Liabilities	1.30	1.12	1.22	0.93	1.23	1.07	13	4.89
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	-	-	-	12	3.58
Total Equity & Noncontrolling Interests	1.75	-14	23	16	-18	-22	42	-26
Total Preferred & Common Equity	1.75	-14	23	16	-18	-22	42	-26
Total Common Equity	1.75	-14	23	16	-18	-22	42	-26
Common Stock	25	132	83	83	138	146	269	294
Retained Earnings	-23	-146	-60	-67	-157	-168	-226	-312
Accumulated Other Comprehensive Income / (Loss)	0.00	-	-	-	-	-	-1.22	-7.09

This table displays calculated financial ratios and metrics derived from Atlantic International's official financial filings.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	11,886,379.00	11,886,379.00	380,648.00	-	58,525,488.00
DEI Adjusted Shares Outstanding	297,159.00	297,159.00	380,648.00	-	58,525,488.00
DEI Earnings Per Adjusted Shares Outstanding	-12.86	-13.78	-40.07	-	-1.02
Growth Metrics	-	-	-	-	-
Revenue Growth	0.00%	63.80%	510,171.81%	10.27%	-1.52%
EBITDA Growth	0.00%	-60.50%	157.06%	-5,024.59%	60.38%
EBIT Growth	0.00%	-58.51%	14.76%	-3,286.40%	57.02%
NOPAT Growth	0.00%	-56.84%	13.65%	-532.61%	-130.06%
Net Income Growth	0.00%	-10.56%	-272.47%	-788.28%	56.13%
EPS Growth	0.00%	0.00%	0.00%	-513.33%	70.65%
Operating Cash Flow Growth	0.00%	-84.06%	-147.98%	34.10%	26.54%
Free Cash Flow Firm Growth	0.00%	0.00%	-3,623.89%	114.85%	-231.62%
Invested Capital Growth	0.00%	-21.36%	20,787.37%	-30.86%	-22.68%
Revenue Q/Q Growth	0.00%	182.08%	114.41%	1,650.11%	0.00%
EBITDA Q/Q Growth	0.00%	2.03%	434.01%	-509.72%	0.00%
EBIT Q/Q Growth	0.00%	1.82%	23.14%	-536.01%	0.00%
NOPAT Q/Q Growth	0.00%	3.07%	23.14%	-18.81%	0.00%
Net Income Q/Q Growth	0.00%	3.79%	-45.38%	-127.97%	0.00%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	5.62%	-583.81%	54.62%	-231.01%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	-3,677.44%	113.77%	0.00%
Invested Capital Q/Q Growth	0.00%	-633.04%	18,553.83%	-29.01%	0.00%
Profitability Metrics	-	-	-	-	-
Gross Margin	317.16%	99.12%	11.68%	10.66%	10.55%
EBITDA Margin	-5,139.32%	-5,035.69%	0.56%	-25.15%	-9.96%
Operating Margin	-5,307.32%	-5,081.62%	-0.86%	-4.93%	-11.52%
EBIT Margin	-5,319.33%	-5,147.49%	-0.86%	-26.41%	-11.52%
Profit (Net Income) Margin	-7,712.37%	-5,205.80%	-3.80%	-30.61%	-13.63%
Tax Burden Percent	96.89%	100.00%	72.01%	104.13%	100.06%
Interest Burden Percent	149.64%	101.13%	613.65%	111.31%	118.24%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	-4.94%	-18.41%	-58.42%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	-24.29%	-128.95%	-87.92%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	92.13%	545.86%	327.90%
Return on Equity (ROE)	-171.14%	-65.26%	87.19%	527.46%	269.49%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-102.94%	18.08%	-32.83%
Operating Return on Assets (OROA)	-44.68%	-42.28%	-5.11%	-93.72%	-43.12%
Return on Assets (ROA)	-64.78%	-42.76%	-22.58%	-108.64%	-51.02%
Return on Common Equity (ROCE)	-171.13%	-65.26%	87.19%	527.46%	269.49%
Return on Equity Simple (ROE_SIMPLE)	-45.26%	-93.77%	38.76%	1,127.43%	0.00%
Net Operating Profit after Tax (NOPAT)	-1.78	-2.80	-2.42	-15	-35
NOPAT Margin	-3,715.12%	-3,557.13%	-0.60%	-3.45%	-8.07%
Net Nonoperating Expense Percent (NNEP)	-22.39%	-19.33%	19.35%	110.55%	29.51%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-2.43%	-22.29%	-69.46%
Cost of Revenue to Revenue	120.13%	0.88%	88.32%	89.34%	89.45%
SG&A Expenses to Revenue	4,520.64%	3,186.99%	11.32%	14.46%	20.94%
R&D to Revenue	1,103.84%	1,993.75%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	5,624.48%	5,180.74%	12.54%	15.59%	22.07%
Earnings before Interest and Taxes (EBIT)	-2.55	-4.05	-3.45	-117	-50
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-2.47	-3.96	2.26	-111	-43
Valuation Ratios	-	-	-	-	-
Price to Book Value (P/BV)	1.20	2.25	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	1.20	2.25	0.00	0.00	0.00
Price to Revenue (P/Rev)	204.95	125.12	0.26	0.41	0.17
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	2.47	3.82	2.96
Enterprise Value to Revenue (EV/Rev)	26.42	63.57	0.60	0.59	0.36
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	107.32	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	17.28	0.00
Leverage & Solvency	-	-	-	-	-
Debt to Equity	0.17	0.31	-3.53	-6.71	-2.58
Long-Term Debt to Equity	0.00	0.31	0.00	-3.05	-0.90
Financial Leverage	-1.05	-1.07	-3.79	-4.23	-3.73
Leverage Ratio	2.64	1.53	-3.86	-4.86	-5.28
Compound Leverage Factor	3.95	1.54	-23.69	-5.40	-6.25
Debt to Total Capital	14.39%	23.95%	139.53%	117.52%	163.39%
Short-Term Debt to Total Capital	14.39%	0.00%	139.53%	64.00%	106.45%
Long-Term Debt to Total Capital	0.00%	23.95%	0.00%	53.53%	56.94%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	85.61%	76.05%	-39.53%	-17.52%	-63.39%
Debt to EBITDA	-0.56	-0.35	61.46	-0.72	-1.90
Net Debt to EBITDA	3.47	1.22	60.86	-0.72	-1.90
Long-Term Debt to EBITDA	0.00	-0.35	0.00	-0.33	-0.66
Debt to NOPAT	-0.77	-0.49	-57.49	-5.27	-2.35
Net Debt to NOPAT	4.81	1.73	-56.93	-5.23	-2.35
Long-Term Debt to NOPAT	0.00	-0.49	0.00	-2.40	-0.82
Altman Z-Score	0.53	-2.43	1.99	-0.37	-0.08
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-
Current Ratio	4.08	5.40	0.49	0.91	0.71
Quick Ratio	3.92	5.13	0.41	0.76	0.61
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-2.71	-101	15	-20
Operating Cash Flow to CapEx	-13,751.74%	-9,151.84%	-12,321.90%	-8,147.78%	-6,584.75%
Free Cash Flow to Firm to Interest Expense	0.00	-29.91	-5.70	1.14	-2.16
Operating Cash Flow to Interest Expense	-1.74	-40.36	-0.51	-0.45	-0.48
Operating Cash Flow Less CapEx to Interest Expense	-1.75	-40.80	-0.52	-0.46	-0.49
Efficiency Ratios	-	-	-	-	-
Asset Turnover	0.01	0.01	5.94	3.55	3.74
Accounts Receivable Turnover	0.47	1.07	12.43	6.42	6.08
Inventory Turnover	0.27	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.16	0.20	833.76	1,195.73	1,594.21
Accounts Payable Turnover	0.07	0.00	40.59	11.48	16.11
Days Sales Outstanding (DSO)	779.88	340.81	29.36	56.87	60.06
Days Inventory Outstanding (DIO)	1,351.32	103,154.03	0.00	0.00	0.00
Days Payable Outstanding (DPO)	5,482.92	395,099.28	8.99	31.80	22.65
Cash Conversion Cycle (CCC)	-3,351.72	-291,604.44	20.36	25.07	37.40
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	-0.39	-0.47	98	68	52
Invested Capital Turnover	-0.12	-0.18	8.21	5.33	7.24
Increase / (Decrease) in Invested Capital	0.00	-0.08	99	-30	-15
Enterprise Value (EV)	1.27	5.00	243	259	156
Market Capitalization	9.84	9.84	105	180	73
Book Value per Share	$0.69	$0.37	($103.39)	($0.24)	($0.55)
Tangible Book Value per Share	$0.69	$0.37	($198.46)	($0.87)	($1.00)
Total Capital	9.56	5.74	100	69	51
Total Debt	1.38	1.38	139	81	83
Total Long-Term Debt	0.00	1.38	0.00	37	29
Net Debt	-8.57	-4.84	138	80	83
Capital Expenditures (CapEx)	0.01	0.04	0.07	0.07	0.07
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-0.71	-0.81	55	34	20
Debt-free Net Working Capital (DFNWC)	9.24	5.41	56	35	20
Net Working Capital (NWC)	7.87	5.41	-83	-9.23	-34
Net Nonoperating Expense (NNE)	1.92	1.30	13	120	24
Net Nonoperating Obligations (NNO)	-8.57	-4.84	138	80	85
Total Depreciation and Amortization (D&A)	0.09	0.09	5.71	5.59	6.80
Debt-free, Cash-free Net Working Capital to Revenue	-1,472.02%	-1,028.60%	13.65%	7.68%	4.60%
Debt-free Net Working Capital to Revenue	19,244.94%	6,874.55%	13.99%	7.83%	4.62%
Net Working Capital to Revenue	16,381.61%	6,874.55%	-20.62%	-2.09%	-7.74%
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($0.34)	($15.03)	($3.68)	($1.08)
Adjusted Weighted Average Basic Shares Outstanding	0.00	11.89M	374.48K	36.78M	54.85M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	($3.68)	($1.08)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	13.89M	0.00	36.78M	54.85M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	13.89M	0.00	62.42M	0.00
Normalized Net Operating Profit after Tax (NOPAT)	-1.78	-2.80	-2.42	-15	-35
Normalized NOPAT Margin	-3,715.12%	-3,557.13%	-0.60%	-3.45%	-8.07%
Pre Tax Income Margin	-7,959.96%	-5,205.80%	-5.28%	-29.39%	-13.63%
Debt Service Ratios	-	-	-	-	-
EBIT to Interest Expense	-2.24	-44.62	-0.19	-8.84	-5.48
NOPAT to Interest Expense	-1.56	-30.83	-0.14	-1.16	-3.84
EBIT Less CapEx to Interest Expense	-2.25	-45.06	-0.20	-8.85	-5.49
NOPAT Less CapEx to Interest Expense	-1.57	-31.27	-0.14	-1.16	-3.84
Payout Ratios	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-43.94%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Atlantic International's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	13,886,379.00	380,648.00	62,415,686.00	380,648.00	380,648.00	-	62,415,686.00	58,375,488.00	58,375,488.00	58,525,488.00	81,293,032.00
DEI Adjusted Shares Outstanding	347,159.00	380,648.00	62,415,686.00	380,648.00	380,648.00	-	62,415,686.00	58,375,488.00	58,375,488.00	58,525,488.00	81,293,032.00
DEI Earnings Per Adjusted Shares Outstanding	-11.29	-15.74	-0.17	-144.26	-18.52	-	-0.17	-0.18	-0.19	-0.53	-1.06
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	451,070.85%	0.00%	17.09%	10.25%	7.44%	0.00%	-1.66%	2.16%	143.06%	210.80%
EBITDA Growth	223.58%	206.59%	134.94%	-3,759.83%	-537.74%	-459.30%	-1,452.57%	88.59%	-46.14%	-171.62%	-955.98%
EBIT Growth	58.55%	83.42%	35.42%	-9,372.18%	-1,685.55%	-2,778.30%	-732.42%	87.02%	-28.25%	-190.39%	-858.45%
NOPAT Growth	58.55%	83.42%	35.42%	-651.25%	-1,610.56%	-2,778.30%	-732.42%	-4.48%	-33.87%	-57.72%	-77.28%
Net Income Growth	-323.45%	-385.16%	-183.23%	-1,418.54%	-79.79%	-1,107.73%	0.00%	80.48%	-53.49%	-185.63%	-705.82%
EPS Growth	0.00%	0.00%	0.00%	0.00%	-6.67%	-720.83%	0.00%	89.80%	-25.00%	-120.00%	-390.00%
Operating Cash Flow Growth	-627.43%	-1,463.28%	1,398.42%	-250.13%	79.50%	96.36%	29.68%	0.00%	6.43%	-167.86%	59.65%
Free Cash Flow Firm Growth	108.30%	-12,434.64%	-11,979.35%	-10,316.81%	-50,242.74%	126.45%	184.22%	135.82%	135.04%	-1,338.47%	-1,364.44%
Invested Capital Growth	-721.77%	20,787.37%	5,370.74%	24,264.06%	18,073.26%	-30.86%	0.00%	-44.05%	-43.29%	0.00%	840.49%
Revenue Q/Q Growth	9.42%	119.08%	-53.03%	3.99%	3.03%	113.51%	-19.28%	0.00%	7.03%	0.00%	27.98%
EBITDA Q/Q Growth	-38.09%	17.37%	-53.44%	-10,916.97%	92.60%	16.00%	-296.46%	0.00%	5.18%	0.00%	-252.83%
EBIT Q/Q Growth	46.12%	45.75%	-449.66%	-5,794.98%	89.84%	12.54%	-487.39%	0.00%	-0.37%	0.00%	-203.34%
NOPAT Q/Q Growth	65.60%	45.75%	-449.66%	-632.25%	21.66%	8.71%	-487.39%	0.00%	-0.37%	0.00%	-3.30%
Net Income Q/Q Growth	-8.43%	-52.94%	18.84%	-1,028.28%	87.16%	-927.33%	82.88%	0.00%	-0.95%	0.00%	-181.43%
EPS Q/Q Growth	0.00%	-60.00%	20.83%	-931.58%	91.84%	-1,131.25%	88.30%	0.00%	0.00%	0.00%	-122.73%
Operating Cash Flow Q/Q Growth	-163.58%	-78.93%	224.42%	-206.06%	91.32%	68.22%	3,517.33%	0.00%	0.00%	-20.89%	61.10%
Free Cash Flow Firm Q/Q Growth	-80.87%	-49,289.98%	46.22%	-101.88%	6.10%	125.95%	39.82%	0.00%	-8.15%	0.00%	12.33%
Invested Capital Q/Q Growth	-27.26%	18,553.83%	-47.69%	96.70%	-5.35%	-29.01%	-100.00%	0.00%	-4.05%	0.00%	-2.24%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	11.87%	11.36%	10.40%	10.98%	11.03%	10.34%	10.88%	11.10%	11.26%	8.57%	7.44%
EBITDA Margin	1.13%	0.61%	0.60%	-62.40%	-4.48%	-2.02%	-7.94%	-7.24%	-6.42%	-8.87%	-24.47%
Operating Margin	-0.39%	-0.10%	-1.13%	-7.94%	-6.04%	-2.58%	-9.19%	-8.44%	-7.92%	-5.96%	-4.81%
EBIT Margin	-0.39%	-0.10%	-1.13%	-63.96%	-6.31%	-2.58%	-9.19%	-8.44%	-7.92%	-10.98%	-26.03%
Profit (Net Income) Margin	-4.01%	-2.80%	-4.84%	-52.48%	-6.54%	-31.47%	-10.45%	-10.42%	-9.83%	-12.28%	-27.01%
Tax Burden Percent	74.43%	66.23%	79.04%	76.12%	85.25%	149.01%	100.09%	100.09%	100.08%	99.76%	98.42%
Interest Burden Percent	1,383.84%	4,384.14%	542.41%	107.79%	121.66%	817.58%	113.60%	123.31%	124.02%	112.10%	105.42%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-0.55%	-15.73%	-57.18%	-47.08%	-9.64%	0.00%	0.00%	0.00%	-8.95%	-9.17%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-9.37%	-29.26%	-188.59%	-53.54%	-72.42%	0.00%	0.00%	0.00%	-17.23%	-33.22%
Return on Net Nonoperating Assets (RNNOA)	0.00%	35.56%	179.59%	-543.98%	-229.70%	306.55%	0.00%	0.00%	0.00%	-153.98%	516.51%
Return on Equity (ROE)	-288.77%	35.00%	163.86%	-601.16%	-276.78%	296.91%	0.00%	0.00%	0.00%	-162.93%	507.35%
Cash Return on Invested Capital (CROIC)	0.00%	-102.94%	-105.75%	-107.37%	-118.47%	18.08%	0.00%	0.00%	0.00%	-214.34%	-176.41%
Operating Return on Assets (OROA)	-9.81%	-0.57%	-9.85%	-469.74%	-47.30%	-9.17%	0.00%	0.00%	0.00%	-6.53%	-38.83%
Return on Assets (ROA)	-101.03%	-16.64%	-42.25%	-385.44%	-49.06%	-111.67%	0.00%	0.00%	0.00%	-7.30%	-40.29%
Return on Common Equity (ROCE)	-288.77%	35.00%	163.86%	-601.16%	-276.78%	296.91%	0.00%	0.00%	0.00%	-126.27%	552.30%
Return on Equity Simple (ROE_SIMPLE)	-598.57%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-0.27	-0.14	-0.79	-5.82	-4.56	-4.16	-6.61	-6.08	-6.10	-10	-11
NOPAT Margin	-0.27%	-0.07%	-0.79%	-5.56%	-4.23%	-1.81%	-6.43%	-5.91%	-5.54%	-4.18%	-3.37%
Net Nonoperating Expense Percent (NNEP)	-92.95%	8.82%	13.53%	131.41%	6.46%	62.78%	0.00%	6.06%	6.06%	8.28%	24.05%
Return On Investment Capital (ROIC_SIMPLE)	-	-0.15%	-1.50%	-5.73%	-4.70%	-6.07%	-	-10.68%	-11.23%	-1.88%	-1.99%
Cost of Revenue to Revenue	88.13%	88.64%	89.60%	89.02%	88.97%	89.66%	89.12%	88.90%	88.74%	91.43%	92.56%
SG&A Expenses to Revenue	10.61%	10.69%	10.28%	17.73%	15.91%	11.98%	18.87%	18.34%	18.06%	12.80%	10.87%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	12.26%	11.27%	11.53%	18.92%	17.07%	-5.76%	20.07%	19.54%	19.18%	14.54%	12.26%
Earnings before Interest and Taxes (EBIT)	-0.38	-0.21	-1.14	-67	-6.80	-5.94	-9.45	-8.68	-8.72	-27	-83
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1.10	1.30	0.60	-65	-4.83	-4.66	-8.16	-7.45	-7.07	-22	-78
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.62	0.00	0.00	7.33	15.15	0.00	0.00	0.00	0.00	5.29	0.00
Price to Tangible Book Value (P/TBV)	5.62	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.05	0.26	0.15	0.33	0.46	0.41	0.49	0.00	0.00	0.38	0.09
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	2.47	2.75	2.44	3.40	3.82	0.00	3.29	4.51	1.33	1.18
Enterprise Value to Revenue (EV/Rev)	0.04	0.60	0.28	0.48	0.61	0.59	0.00	0.00	0.00	1.24	0.78
Enterprise Value to EBITDA (EV/EBITDA)	0.00	107.32	41.13	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	4.03	0.00	43.19	0.00	0.00	0.00	0.00	56.81	72.84	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	17.28	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.82	-3.53	-4.76	3.41	4.98	-6.71	0.00	-4.08	-3.46	9.37	-25.83
Long-Term Debt to Equity	0.82	0.00	-0.14	1.81	2.26	-3.05	0.00	-3.90	-3.31	0.82	-5.03
Financial Leverage	-1.08	-3.79	-6.14	2.88	4.29	-4.23	0.00	33.83	-26.66	8.93	-15.55
Leverage Ratio	2.04	-3.86	-11.72	5.44	7.85	-4.86	0.00	53.26	-42.10	17.92	-26.53
Compound Leverage Factor	28.30	-169.27	-63.56	5.86	9.55	-39.70	0.00	65.67	-52.21	20.09	-27.97
Debt to Total Capital	45.14%	139.53%	126.57%	77.35%	83.28%	117.52%	0.00%	132.45%	140.62%	90.36%	104.03%
Short-Term Debt to Total Capital	0.00%	139.53%	122.87%	36.41%	45.50%	64.00%	0.00%	5.84%	6.12%	82.50%	83.79%
Long-Term Debt to Total Capital	45.14%	0.00%	3.69%	40.93%	37.78%	53.53%	0.00%	126.61%	134.50%	7.86%	20.23%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.17%	0.66%
Common Equity to Total Capital	54.86%	-39.53%	-26.57%	22.65%	16.72%	-17.52%	0.00%	-32.45%	-40.62%	7.47%	-4.68%
Debt to EBITDA	-2.13	61.46	19.45	-22.66	-4.64	-0.72	0.00	0.00	0.00	-8.93	-4.42
Net Debt to EBITDA	3.38	60.86	19.02	-22.53	-4.56	-0.72	0.00	0.00	0.00	-8.51	-4.27
Long-Term Debt to EBITDA	-2.13	0.00	0.57	-11.99	-2.10	-0.33	0.00	0.00	0.00	-0.78	-0.86
Debt to NOPAT	-0.46	-57.49	-33.77	-11.17	-4.72	-5.27	0.00	0.00	0.00	-13.16	-12.99
Net Debt to NOPAT	0.73	-56.93	-33.03	-11.11	-4.63	-5.23	0.00	0.00	0.00	-12.55	-12.55
Long-Term Debt to NOPAT	-0.46	0.00	-0.98	-5.91	-2.14	-2.40	0.00	0.00	0.00	-1.15	-2.53
Altman Z-Score	30.10	2.08	2.63	2.53	4.22	2.61	0.00	0.00	0.00	-0.30	-0.50
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	22.50%	-8.86%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.68	0.49	0.62	1.06	0.91	0.91	0.00	1.31	1.23	0.39	0.39
Quick Ratio	3.68	0.41	0.41	0.86	0.61	0.76	0.00	1.09	1.03	0.26	0.24
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.20	-99	-53	-107	-101	26	45	38	35	-554	-486
Operating Cash Flow to CapEx	-31,503.02%	0.00%	120,611.72%	-74,708.89%	-8,903.84%	-1,846.81%	120,611.72%	0.00%	-8,703.22%	-24,364.90%	-9,626.54%
Free Cash Flow to Firm to Interest Expense	0.04	-7.70	-10.58	-20.58	-68.40	2.49	34.83	18.99	16.85	-166.86	-107.63
Operating Cash Flow to Interest Expense	-1.34	-0.91	2.90	-2.96	-0.91	-0.04	11.34	0.00	-0.60	-2.98	-0.85
Operating Cash Flow Less CapEx to Interest Expense	-1.34	-0.91	2.90	-2.97	-0.92	-0.04	11.33	0.00	-0.61	-2.99	-0.86
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	25.20	5.94	8.73	7.34	7.50	3.55	0.00	0.00	0.00	0.59	1.49
Accounts Receivable Turnover	4,059.05	12.43	21.77	17.72	21.69	6.42	0.00	0.00	0.00	3.07	6.62
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	307.98	833.76	1,190.42	972.24	1,069.01	1,195.73	0.00	0.00	0.00	363.32	976.79
Accounts Payable Turnover	332.78	40.59	17.54	33.36	27.83	11.48	0.00	0.00	0.00	1.66	3.93
Days Sales Outstanding (DSO)	0.09	29.36	16.76	20.60	16.83	56.87	0.00	0.00	0.00	118.83	55.13
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	1.10	8.99	20.81	10.94	13.12	31.80	0.00	0.00	0.00	219.66	92.80
Cash Conversion Cycle (CCC)	-1.01	20.36	-4.05	9.66	3.71	25.07	0.00	0.00	0.00	-100.84	-37.67
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-0.53	98	51	101	96	68	0.00	57	54	544	532
Invested Capital Turnover	-627.28	8.21	19.92	10.28	11.13	5.33	0.00	0.00	0.00	2.14	2.72
Increase / (Decrease) in Invested Capital	-0.47	99	52	101	96	-30	-51	-45	-41	544	475
Enterprise Value (EV)	7.56	243	141	247	325	259	0.00	186	244	726	626
Market Capitalization	9.84	105	76	168	246	180	218	111	168	224	74
Book Value per Share	$0.13	($103.39)	($36.87)	$0.82	$0.36	($0.24)	$0.00	($0.32)	($0.38)	$0.72	($0.31)
Tangible Book Value per Share	$0.13	($198.46)	($116.20)	($0.38)	($0.37)	($0.87)	$0.00	($0.81)	($0.85)	($10.22)	($8.00)
Total Capital	3.20	100	53	101	97	69	0.00	57	54	568	545
Total Debt	1.44	139	67	78	81	81	0.00	75	76	513	567
Total Long-Term Debt	1.44	0.00	1.95	42	37	37	0.00	72	73	45	110
Net Debt	-2.28	138	65	78	79	80	0.00	75	76	489	548
Capital Expenditures (CapEx)	0.02	-0.00	0.01	0.02	0.02	0.02	0.01	0.00	0.01	0.04	0.04
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1.01	55	19	41	35	34	0.00	19	17	-64	-74
Debt-free Net Working Capital (DFNWC)	2.72	56	20	41	37	35	0.00	19	17	-40	-55
Net Working Capital (NWC)	2.72	-83	-45	4.24	-7.34	-9.23	0.00	16	14	-508	-512
Net Nonoperating Expense (NNE)	3.65	5.85	4.07	49	2.49	68	4.13	4.64	4.72	20	76
Net Nonoperating Obligations (NNO)	-2.28	138	65	78	79	80	0.00	75	76	489	554
Total Depreciation and Amortization (D&A)	1.49	1.50	1.74	1.63	1.96	1.29	1.29	1.23	1.65	5.26	4.99
Debt-free, Cash-free Net Working Capital to Revenue	-0.54%	13.65%	3.72%	7.88%	6.69%	7.68%	0.00%	0.00%	0.00%	-10.96%	-9.28%
Debt-free Net Working Capital to Revenue	1.45%	13.99%	4.02%	7.96%	6.95%	7.83%	0.00%	0.00%	0.00%	-6.82%	-6.86%
Net Working Capital to Revenue	1.45%	-20.62%	-8.92%	0.82%	-1.39%	-2.09%	0.00%	0.00%	0.00%	-87.19%	-63.99%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($3.33)	($0.24)	($0.19)	($1.96)	($0.16)	($1.97)	$0.00	($0.20)	($0.20)	($0.44)	($0.98)
Adjusted Weighted Average Basic Shares Outstanding	380.65K	25.42M	25.42M	28.08M	44.69M	36.78M	0.00	54.55M	55.12M	74.01M	80.97M
Adjusted Diluted Earnings per Share	$0.00	($0.24)	($0.19)	$0.00	($0.16)	($1.97)	$0.00	($0.20)	($0.20)	($0.44)	($0.98)
Adjusted Weighted Average Diluted Shares Outstanding	380.65K	25.42M	25.42M	48.73M	44.69M	36.78M	0.00	54.55M	55.12M	74.01M	80.97M
Adjusted Basic & Diluted Earnings per Share	$0.00	($0.24)	$0.00	$0.00	$0.00	($1.97)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	380.65K	0.00	380.65K	48.73M	50.15M	62.42M	0.00	58.38M	58.53M	81.29M	114.41M
Normalized Net Operating Profit after Tax (NOPAT)	-0.27	-0.14	-0.79	-5.82	-4.56	-4.16	-6.61	-6.08	-6.10	-10	-11
Normalized NOPAT Margin	-0.27%	-0.07%	-0.79%	-5.56%	-4.23%	-1.81%	-6.43%	-5.91%	-5.54%	-4.18%	-3.37%
Pre Tax Income Margin	-5.39%	-4.23%	-6.12%	-68.94%	-7.67%	-21.12%	-10.44%	-10.41%	-9.82%	-12.31%	-27.44%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-0.08	-0.02	-0.23	-12.84	-4.62	-0.57	-7.35	-4.29	-4.16	-8.26	-18.44
NOPAT to Interest Expense	-0.05	-0.01	-0.16	-1.12	-3.10	-0.40	-5.15	-3.00	-2.91	-3.14	-2.39
EBIT Less CapEx to Interest Expense	-0.08	-0.02	-0.23	-12.84	-4.63	-0.57	-7.36	0.00	-4.17	-8.27	-18.45
NOPAT Less CapEx to Interest Expense	-0.06	-0.01	-0.16	-1.12	-3.11	-0.40	-5.16	0.00	-2.92	-3.15	-2.40
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Atlantic International Corp. (NASDAQ: ATLN) shows a business that is still growing revenue, but it remains deeply unprofitable and highly leveraged. Over the last several quarters, sales have held up relatively well, but margins remain thin, operating losses continue, and the balance sheet carries a large debt load. The biggest improvement recently has been cash generation from financing activity and a sharp jump in cash on hand, but that does not yet reflect a durable turn in underlying operations.

Q1 2026 revenue rose to $249.9 million, up from $110.1 million in Q3 2025 and roughly flat to slightly above the year-ago quarterly range, showing the top line is still expanding.
Gross profit improved to $21.4 million in Q1 2026, compared with $12.4 million in Q3 2025, indicating better revenue scale.
Cash and equivalents jumped to $24.1 million at March 31, 2026, from just $83,406 at the end of Q3 2025.
Total common equity turned positive at $42.4 million in Q1 2026, a major improvement from negative $22.1 million in Q3 2025.
Net cash from financing activities was $35.1 million in Q1 2026, helping offset operating losses and rebuilding liquidity.
The company’s gross margin in Q1 2026 was about 8.6% of revenue, which is still modest for a healthy business.
Q1 2026 operating cash flow was still negative at $(9.9) million, despite the stronger revenue base.
Shares outstanding have risen over time, with basic weighted average shares at 74.0 million in Q1 2026 versus 54.5 million in Q2 2025, which can dilute per-share results.
Atlantic International reported a $30.7 million net loss in Q1 2026, or $(0.44) per share.
Operating income was a loss of $14.9 million in Q1 2026, showing core operations are still not profitable.
Total liabilities were $926.3 million versus only $981.0 million in total assets, leaving a very small equity cushion.
Short-term debt alone was $468.5 million at quarter-end, far above cash on hand.
Accounts payable and accrued liabilities remain elevated, and total current liabilities reached $836.2 million, creating significant near-term obligations.
The company’s balance sheet still contains very large intangible and goodwill balances, including $448.7 million of goodwill and $191.8 million of intangibles, which can be sensitive if performance weakens.

Bottom line: ATLN’s recent quarter shows meaningful progress in liquidity and equity, but the business is still struggling to convert revenue into profit and is carrying a heavy debt burden. For retail investors, the key question is whether the company can sustain revenue growth while improving margins and reducing leverage before financing risk becomes a bigger issue.

08/29/26 06:45 AM ETAI Generated. May Contain Errors.

Atlantic International Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Atlantic International's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Atlantic International's net income appears to be on an upward trend, with a most recent value of -$59.43 million in 2025, rising from -$3.70 million in 2021. The previous period was -$135.48 million in 2024. Check out Atlantic International's forecast to explore projected trends and price targets.

Atlantic International's total operating income in 2025 was -$50.23 million, based on the following breakdown:

Total Gross Profit: $45.99 million
Total Operating Expenses: $96.22 million

Over the last 4 years, Atlantic International's total revenue changed from $48.02 thousand in 2021 to $435.88 million in 2025, a change of 907,583.6%.

Atlantic International's total liabilities were at $145.32 million at the end of 2025, a 10.3% increase from 2024, and a 3,095.1% increase since 2020.

In the past 5 years, Atlantic International's cash and equivalents has ranged from $0.00 in 2020 to $4.02 million in 2021, and is currently $81.13 thousand as of their latest financial filing in 2025.

Over the last 4 years, Atlantic International's book value per share changed from 0.69 in 2021 to -0.55 in 2025, a change of -179.6%.

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Financial statements for NASDAQ:CIRC last updated on 8/19/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Atlantic International (CIRC) Financials

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Atlantic International (CIRC) Financials

Annual Income Statements for Atlantic International

Quarterly Income Statements for Atlantic International

Annual Cash Flow Statements for Atlantic International

Quarterly Cash Flow Statements for Atlantic International

Annual Balance Sheets for Atlantic International

Quarterly Balance Sheets for Atlantic International

Annual Metrics And Ratios for Atlantic International

Quarterly Metrics And Ratios for Atlantic International

Financials Breakdown Chart

Key Financial Trends

Atlantic International Financials - Frequently Asked Questions

When does Atlantic International's financial year end?

How has Atlantic International's net income changed over the last 4 years?

What is Atlantic International's operating income?

How has Atlantic International's revenue changed over the last 4 years?

How much debt does Atlantic International have?

How much cash does Atlantic International have?

How has Atlantic International's book value per share changed over the last 4 years?

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