10-K · April 15, 2026
Atlantic (ATLN) is a U.S.-focused staffing business (Lyneer) with scale (2025 service revenue $435.9M) that completed a major Europe-focused acquisition (Circle8) after year-end (Jan 23, 2026). The 2025 results show…
Earnings analysis · 10-Q
ATLN earnings analysis
Filed June 22, 2026 · Our reading of the company's report
The latest report
Atlantic International Corp (ATLN) reported significant revenue growth in Q1 2026 primarily due to the Circle8 acquisition, with service revenue netting $249.89 million, up 143.1% from $102.81 million in Q1 2025.…
Read full summary
Atlantic International Corp (ATLN) reported significant revenue growth in Q1 2026 primarily due to the Circle8 acquisition, with service revenue netting $249.89 million, up 143.1% from $102.81 million in Q1 2025. However, the company continues to face operational challenges with an increase in total operating expenses, resulting in a net loss of $30.69 million and a diluted EPS of -$0.44, compared to a loss of $10.74 million and EPS of -$0.20 in the previous year.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.44
- Gross margin
- 8.6%
What stood out
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Revenue Surge Driven by Acquisition
Q1 2026 service revenue of $249.89 million reflects a 143.1% increase from $102.81 million in Q1 2025, largely due to Circle8's contribution.
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Gross Profit Increase
Gross profit rose to $21.43 million in Q1 2026, a 91.5% increase from $11.19 million a year earlier.
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Cash Position Strengthened
Cash and cash equivalents increased substantially to $24.10 million in Q1 2026 from $81,134 at the end of 2025.
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Free Cash Flow Positive in Previous Quarter
Q1 2025 achieved positive free cash flow of $15 million, though Q1 2026 saw cash used in operating activities of $(9.89) million.
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Decreased Margin with Higher Sales
Gross margin declined to 8.6% in Q1 2026 from 10.9% in Q1 2025, attributed to lower margins in international sales.
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Acquisition Enhancements Noted by Management
Management expects the Circle8 acquisition to enhance scale, liquidity, and operational efficiencies.
What to watch
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Substantial Net Losses
Net losses worsened to $30.69 million in Q1 2026, up from $10.74 million in Q1 2025.
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Going Concern Doubts
Management has expressed substantial doubt about the ability to continue as a going concern due to capital restructuring needs.
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Default on Debt Obligations
The company's debt facing significant restructuring and potential defaults reported in the last filings raise liquidity concerns.
Management's outlook
Management defers specific numeric guidance related to future earnings or revenue to future earnings releases.
Earlier filings 4
10-Q · November 14, 2025
Atlantic reported Q3 2025 service revenue of $110,127,203, up versus Q3 2024 revenue of $107,803,843. Gross profit was $12,401,976 (≈11.3% of revenue) but the company recorded an operating loss of $(8,717,023) and a net…
10-Q · May 14, 2025
Atlantic reported quarterly revenue of $102,808,807 (vs $100,623,212 a year ago) with gross profit of $11,186,122 (gross margin ~10.9%). Operating loss widened to $(9,449,746) as SG&A rose to $19,399,479 (driven by…
10-Q · November 14, 2024
Atlantic reported three-month service revenue of $107,803,843 (up $10,018,687 or ≈10.2% vs. $97,785,156 a year ago) with gross profit of $11,885,470 (≈11.0% margin). Operating loss widened to $(6,511,654) from…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.