How did NCPL's revenue and expenses shift in Q1 2025 compared to previous quarters?

Netcapital (NCPL) experienced a significant increase in total expenses from the previous quarter, with $1.81 million in Q1 2025, compared to $1.84 million in Q2 2022, and $1.52 million in Q3 2023. However, the total revenue remained relatively stable at $1.85 million in Q1 2025, which was slightly higher than the previous quarter's revenue of $1.84 million. This indicates a potential strain on profitability as the company continues to invest more in expenses.