Revenue growth of 143.1% in 2026Q1 is offset by persistent margin compression, with gross margins remaining thin at 8.6% and operating margins at -6.0%.
| Sales/Revenue | 582.96M | 435.88M | 442.61M | 401.37M | 441.54M | 425.03M | 329.5K | 533.13K | 779.07K | 1.34M | 939.68K |
| Revenue Growth % | 31.06% | -1.52% | 10.27% | -9.1% | 3.89% | 128894.7% | -38.2% | -31.57% | -41.81% | 42.47% | - |
| Cost of Goods Sold | 526.73M | 389.89M | 395.43M | 354.5M | 387.34M | 370.62M | 170.8K | 219.76K | 674.28K | 1.08M | 520.1K |
| COGS % of Revenue | - | 89.45% | 89.34% | 88.32% | 87.72% | 87.2% | 51.84% | 41.22% | 86.55% | 81.01% | 55.35% |
| Gross Profit | 56.23M | 45.99M | 47.18M | 46.88M | 54.21M | 54.41M | 158.69K | 313.37K | 104.79K | 254.23K | 419.59K |
| Gross Margin % | 9.64% | 10.55% | 10.66% | 11.68% | 12.28% | 12.8% | 48.16% | 58.78% | 13.45% | 18.99% | 44.65% |
| Gross Profit Growth % | - | -2.53% | 0.64% | -13.52% | -0.37% | 34185.34% | -49.36% | 199.05% | -58.78% | -39.41% | - |
| Operating Expenses | 107.58M | 96.22M | 69.01M | 50.33M | 48.23M | 90.14M | 1.11M | 2.6M | 2.51M | 1.78M | 1.8M |
| OpEx % of Revenue | - | 22.07% | 15.59% | 12.54% | 10.92% | 21.21% | 336.4% | 488.56% | 321.68% | 133.07% | 192.07% |
| Selling, General & Admin | 103.89M | 91.29M | 64.02M | 45.44M | 42.27M | 42.18M | 777.43K | 1.36M | 1.47M | 806.9K | 690.98K |
| SG&A % of Revenue | - | 20.94% | 14.46% | 11.32% | 9.57% | 9.92% | 235.95% | 255% | 188.28% | 60.27% | 73.53% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 330.98K | 1.25M | 1.04M | 974.53K | 1.11M |
| R&D % of Revenue | - | - | - | - | - | - | 100.45% | 233.56% | 133.4% | 72.79% | 118.53% |
| Other Operating Expenses | 3M | 4.93M | 4.99M | 4.89M | 5.96M | 47.96M | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -55.69M | -50.23M | -21.83M | -3.45M | 5.98M | -35.73M | -949.72K | -2.29M | -2.4M | -1.53M | -1.39M |
| Operating Margin % | -9.55% | -11.52% | -4.93% | -0.86% | 1.35% | -8.41% | -288.24% | -429.78% | -308.23% | -114.08% | -147.41% |
| Operating Income Growth % | - | -130.06% | -532.61% | -157.72% | 116.73% | -3662.19% | 58.55% | 4.58% | -57.24% | -10.25% | - |
| EBITDA | -46.45M | -43.64M | -16.84M | 1.59M | 11.04M | -31.62M | -840.96K | -2.17M | -2.34M | -1.45M | -1.34M |
| EBITDA Margin % | -7.97% | -10.01% | -3.81% | 0.4% | 2.5% | -7.44% | -255.23% | -406.99% | -300.06% | -108.65% | -142.21% |
| EBITDA Growth % | -87.86% | -159.11% | -1161.5% | -85.63% | 134.93% | -3660.33% | 61.24% | 7.18% | -60.71% | -8.84% | - |
| D&A (Non-Cash Add-back) | 9.23M | 6.59M | 4.99M | 5.04M | 5.07M | 4.11M | 108.76K | 121.53K | 63.64K | 72.64K | 48.86K |
| EBIT | -40.78M | -50.23M | -118.1M | -3.6M | 6.87M | 8.07M | -758.15K | -2.29M | -2.66M | -1.53M | -1.38M |
| Net Interest Income | -11.43M | -9.16M | -12M | -17.54M | -45.87K | -171.83K | -287.2K | -182.25K | -230.3K | -179.74K | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 44.88K | 36.46K | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 11.43M | 9.16M | 12M | 17.54M | 90.75K | 208.29K | 287.2K | 182.25K | 230.3K | 179.74K | 50.74K |
| Other Income/Expense | -23.74M | -9.16M | -108.27M | -17.73M | -8.39M | -3.73M | -95.63K | -182.25K | -486.73K | -179.74K | -49.13K |
| Pretax Income | -79.42M | -59.4M | -130.1M | -21.18M | -2.41M | -39.46M | -1.05M | -2.47M | -2.89M | -1.71M | -1.43M |
| Pretax Margin % | -13.62% | -13.63% | -29.39% | -5.28% | -0.55% | -9.29% | -317.26% | -463.97% | -370.7% | -127.5% | -152.64% |
| Income Tax | 97.56K | 33.99K | 5.38M | -5.93M | 808.43K | 1.33M | 0 | 0 | -4 | 4 | -2 |
| Effective Tax Rate % | -0.12% | -0.06% | -4.13% | 27.99% | -33.51% | -3.38% | 0% | 0% | 0% | -0% | 0% |
| Net Income | -79.43M | -59.43M | -135.48M | -15.25M | -3.22M | -40.8M | -1.05M | -2.47M | -2.89M | -1.71M | -1.43M |
| Net Margin % | -13.63% | -13.63% | -30.61% | -3.8% | -0.73% | -9.6% | -317.26% | -463.97% | -370.7% | -127.5% | -152.64% |
| Net Income Growth % | 43.81% | 56.13% | -788.28% | -373.51% | 92.1% | -3802.82% | 57.74% | 14.35% | -69.19% | -19% | - |
| Net Income (Continuing) | -79.43M | -59.43M | -135.48M | -15.25M | -3.22M | -40.8M | -1.05M | -2.47M | -2.89M | -1.71M | -1.43M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.07 | -1.08 | -3.68 | -0.60 | -0.17 | -0.17 | -0.05 | -0.12 | -0.14 | -0.11 | -0.09 |
| EPS Growth % | 63.43% | 70.65% | -513.33% | -252.94% | 0% | -246.94% | 59.17% | 14.29% | -27.27% | -19.57% | - |
| EPS (Basic) | - | -1.08 | -3.68 | -0.60 | -0.19 | -0.17 | -0.05 | -0.12 | -0.14 | -0.11 | -0.09 |
| Diluted Shares Outstanding | 74.01M | 54.85M | 36.78M | 25.42M | 24.14M | 21.69M | 21.35M | 21.35M | 21.35M | 15.58M | 15.58M |
| Basic Shares Outstanding | 74.01M | 54.85M | 36.78M | 25.42M | 21.69M | 21.69M | 21.35M | 21.35M | 21.35M | 15.58M | 15.58M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - |
Severe liquidity and margin constraints
According to the most recent quarterly data, ATLN reported a significant revenue jump to $249.9 million in 2026Q1, representing a 143.1% year-over-year growth rate, though this expansion appears heavily tied to the integration of staffing operations rather than organic growth in the legacy life sciences business.
The dramatic revenue spike suggests a fundamental shift in the company's business model following the reverse merger. Investors should monitor whether this growth is sustainable or merely a one-time consolidation effect, as the underlying staffing market remains highly cyclical and sensitive to broader economic conditions.
As reported in financial statements, ATLN's gross margin has consistently hovered near the 10% level, with the 2026Q1 figure of 8.6% indicating that the company's staffing-heavy cost structure lacks the pricing power typically seen in higher-margin professional services or specialized diagnostics firms.
The low gross margin profile suggests that the company is essentially acting as a pass-through entity for labor costs. This lack of margin depth leaves very little room for error in managing operating expenses, making the firm highly susceptible to wage inflation and competitive pricing pressures in the staffing industry.
Based on the reported figures, ATLN's operating income has failed to scale with revenue, resulting in a -6.0% operating margin in 2026Q1, which highlights a persistent inability to achieve the economies of scale necessary to offset administrative overhead and legacy research-related costs.
The widening gap between gross profit and operating expenses suggests that the current corporate structure is inefficient for the scale of revenue being generated. Without a significant reduction in SG&A or a pivot to higher-margin service offerings, the company appears unlikely to reach operational break-even in the near term.
Data from recent filings indicates that net income remains deeply negative, with a $30.7 million loss in 2026Q1, further complicated by significant stock-based compensation charges that reached $17.1 million in 2025Q4, suggesting that reported losses may be exacerbated by non-cash accounting items.
The volatility in net income, including the massive $68.7 million loss in 2024Q4, warrants further investigation into the non-operating items and potential impairment charges associated with the reverse merger. Investors should be cautious of relying on bottom-line figures that appear heavily influenced by accounting adjustments rather than core operational performance.
As noted in the company's recent financial disclosures, the combination of a $81,134 cash position and persistent quarterly operating losses suggests a precarious liquidity profile that may necessitate immediate dilutive financing to maintain the current scale of operations.
Short-term observers may focus on the revenue growth, but the fundamental risk lies in the company's inability to generate positive cash flow from its staffing operations. The lack of a cash buffer implies that any disruption in the labor market or a delay in contract renewals could lead to a severe liquidity crisis.
Quick answers to the most common questions about buying ATLN stock.
For fiscal year 2025, Atlantic International Corp. (ATLN) reported total revenue of $435.9M. This represents a 46285.8% increase compared to $0.9M in 2016.
Atlantic International Corp. (ATLN) reported a net loss of $59.4M for the fiscal year ending 2025.
Atlantic International Corp. (ATLN) reported an operating income of $-50.2M, resulting in an operating profit margin of -11.5%. This margin reflects the operational efficiency of the business before interest and taxes.
Atlantic International Corp. (ATLN) generated $46.0M in gross profit for the year, representing a gross profit margin of 10.6%. This demonstrates the company's core pricing power and production efficiency.