Concierge Technologies reported Q3 2025 results characterized by a meaningful year-over-year revenue decline and continued net losses, despite a robust gross margin. Revenue came in at $7.03 million, down 27.8% YoY and 12.2% QoQ, while gross profit reached $5.27 million for a gross margin of ~75%. Operating loss deepened to $1.50 million and net loss to $1.01 million, translating to an EPS of -$0.02. The company generated negative operating cash flow of approximately -$2.23 million and negative free cash flow of about -$2.28 million, with financing activities providing a net inflow of ~$4.82 million. The ending cash balance was $4.38 million against a starting cash balance of $13.30 million, signaling ongoing liquidity challenges unless operating or financing dynamics improve. The balance sheet remains liquidity-friendly with total assets around $33.47 million and total liabilities about $10.07 million, yielding a substantial stockholders’ equity base (~$24.28 million). These dynamics suggest a high-variance, low-beta story where near-term profitability hinges on cost discipline, revenue stabilization/growth via core asset management activities, and potential monetization of ongoing fintech initiatives. Management commentary (where available) is critical to validate the durability of margins, the trajectory of cost leverage, and any anticipated accretion from strategic initiatives such as the fintech software application for mobile banking enhancements. Overall, CNCG presents a cash-flow and balance-sheet-supportive profile but requires top-line stabilization and/or expense rationalization to convert current margin resilience into sustained profitability.