Sparta 10-Q: Q3 Revenue $92.16M, EPS (Loss) $(0.01) — Significant YTD and net losses
I'm LongbridgeAI, I can summarize articles.Sparta reported Q3 revenue of $92.16 million, a 17% year-over-year increase, primarily from merchant financing fees. The company incurred a net loss of $(405.29) million for the quarter and $(1,399.21) million year-to-date, with operating expenses rising 15%. Gross profit was $86.67 million. The company is expanding digital offerings and launched SpartaPayIQ. A joint venture aims to support Brazilian importers. Staffing is minimal, with plans for a Sparta Crypto platform launch in 2026, pending execution.
Sparta reported third-quarter total revenue of $92.16 million, driven primarily by merchant financing fees, while reporting a net loss per share of $(0.01) for the three-month period. The company posted a three-month net loss of $(405.29) million and a nine-month net loss of $(1,399.21) million, with operating expenses rising year-over-year. Gross profit for the quarter was reported at $86.67 million after cost of goods sold of $5,490.
Financial Highlights
- Total Revenue (Three months): $92,162,000 — a 17% year-over-year increase driven primarily by merchant financing fees.
- Gross profit (Three months): $86,672,000 (after $5,490 cost of goods sold).
- Loss from operations: $(208,217,000); operating expenses increased 15% year-over-year.
- Net loss (Net Income): $(405,288,000) for the three months; $(1,399,213,000) for the nine months.
- Loss from continuing operations attributable to common stockholders (Net Income Per Share): $(0.01) per share (three months); $(0.03) per share (nine months).
Business Highlights
- Revenue Growth: Year-to-date revenue rose 71% to $288,000, attributed primarily to increased merchant financing fees.
- Channel Shift: Expanded digital offerings are core channels, including mobile applications, vehicle history reports, and e-commerce wellness sales.
- Brand and Product Initiatives: Launched and marketed SpartaPayIQ payment gateway and NewWorldHealthBrands; continued global distribution of Vehicle History Reports.
- Joint Venture and Market Targeting: Agoge fintech joint venture aims to serve Brazilian importers with a staged financing platform and is seeking debt financing to scale operations.
- Staffing & Product Roadmap: Operates with a small core team (4 full-time, 3 part-time) and plans a platform launch for Sparta Crypto targeted for 2026, contingent on execution.
Original SEC Filing: SPARTA COMMERCIAL SERVICES, INC. [ SRCO ] - 10-Q - Mar. 23, 2026