Revenue grew by 2.1% month-on-month, a welcome change from the prior contraction, but still ended 2% below budget. Growth was broad-based, with Client 3 contributing most positively. However, Clients 1 and 2 showed little to no growth, signaling weak momentum from top accounts. At the same time, COGS rose by 7.6%, far outpacing revenue growth. This drove a severe 35.6% drop in gross margin, pushing the business further below profitability thresholds. Margin recovery remained elusive across most clients, as inflationary pressures and inefficient pricing weigh. Despite strong cost control — with salaries, admin, IT, and commissions all maintained within or below budget — the company could not prevent a collapse in profitability. EBITDA fell by 86%, reflecting poor absorption of overheads and margin leakage. Finance income and cost both declined during the month. Although the finance contribution stayed net positive, it couldn't offset the operational weaknesses. Net profit plummeted to 232K, a 79.6% MoM drop, marking one of the sharpest deteriorations in recent quarters.