Additionally, the reduction in selling, general and administrative (SG&A) expenses, which are down 14% year-over-year, reflects the benefits of our organizational restructuring and ongoing cost discipline.

filing / May 7, 2026 / receipt

Moreover, although SG&A leverage improved this quarter, we are committed to driving additional efficiencies to ensure that our overhead costs scale appropriately as revenue grows.

filing / May 7, 2026 / receipt

Selling, general and administrative expenses - The decrease in selling, general and administrative expenses ("SG&A") of $2.5 million, or 14%, primarily due to cost reductions resulting from our organizational restructuring plan.

filing / May 7, 2026 / receipt

We also announced a transition and separation agreement with Kevin Cavanah, our Chief Financial Officer, and have commenced a search for a new Chief Financial Officer.

filing / May 7, 2026 / receipt

This improvement reflects the successful execution of our strategic initiatives, including disciplined project management and targeted restructuring actions.

filing / May 7, 2026 / receipt

During the three months ended March 31, 2026, unfavorable market conditions for an exited office lease negatively impacted our ability to sublease the space.

filing / May 7, 2026 / receipt