How did Aeries Technology's revenue and expenses shift in Q3 2025?

**Aeries Technology experienced a notable shift in its revenue and expenses during Q3 2025.** Here's a detailed analysis:

1. **Revenue Shift**:
- **Decrease in Total Revenue**: The company's total revenues for Q3 2025 were $17.6 million, marking a 6.8% decrease from the $18.9 million recorded in Q3 2024.
- **Increase in North American Revenue**: Despite the overall revenue decline, there was a positive trend in North America, with a 13.1% year-over-year increase in revenue.
2. **Expense Shift**:
- **Cost of Revenue**: Specific data on the cost of revenue for Q3 2025 is not available. However, the overall cost structure of the company is likely to have been affected by the revenue changes, potentially leading to cost adjustments to maintain profitability.
- **Operating Expenses**: The company's operating expenses were likely impacted by the strategic realignment and cost structure adjustments mentioned in the report. Without specific data, it's challenging to provide a detailed analysis, but these adjustments are likely to have been aimed at improving efficiency and preparing for future growth.
3. **Profitability Metrics**:
- **Income from Operations**: Aeries Technology reported an income from operations of $(5.2) million in Q3 2025, a significant drop from the $0.7 million recorded in the same quarter of the previous year.
- **Net Income**: The company achieved a net profit of $2 million in Q3 2025, a substantial improvement from the net loss of $(16.3) million in the same quarter of the previous year.
- **Adjusted EBITDA**: The adjusted EBITDA for Q3 2025 was $(2.0) million, down from $2.4 million in Q3 2024. However, the core adjusted EBITDA was $1.5 million, a significant improvement from the slight negative in the same quarter of the previous year.

In conclusion, Aeries Technology faced a challenging revenue environment in Q3 2025, with overall revenues declining, but showing signs of improvement in its North American market and profitability. The company's strategic shifts and cost adjustments are likely to have been critical in moving towards profitability, as evidenced by the positive net income and core adjusted EBITDA figures.