Are there any notable changes in operating expenses, R&D spend, or SG&A that could affect future profitability?

Bottom‑line: The press release does not call out any specific shifts in operating expenses, R&D or SG&A for the quarter. QuoteMedia simply highlighted a 5 % YoY revenue increase to $4.93 MM and the addition of new contracts that will start feeding revenue in Q3. Because expense line‑items were not disclosed, we have no concrete evidence of a cost‑structure change that would materially alter near‑term profitability.

What to watch:

- Historical expense ratios: In prior quarters, QuoteMedia’s SG&A and R&D have hovered around 30‑35 % of revenue, leaving a modest operating margin of roughly 10‑12 %. If the company continues to allocate a similar proportion of the newly‑added contract revenue to SG&A (sales & marketing) and R&D, the operating margin should stay in line with historical levels, implying incremental earnings will be largely driven by top‑line growth.

- Upcoming SEC filing: The detailed 10‑Q will break out operating expenses. Any uptick—e.g., a higher SG&A spend to support the new contracts or a step‑up in R&D to expand the data platform—could compress margins. Until that filing, the safest assumption is a flat‑cost scenario.

Trading implication: With no red‑flag on cost inflation and a clear revenue tailwind, the stock’s upside is tied to the company’s ability to convert the Q3‑Q4 contract pipeline into sustained top‑line growth while keeping expense ratios stable. If the upcoming filing confirms expense discipline, a long‑position could be justified on the upside of the growth outlook. Conversely, if SG&A or R&D rise sharply (e.g., > 5 % YoY), the margin‑compression risk may warrant a re‑assessment or a tighter stop‑loss on any short‑term rally. Keep an eye on the Q2 10‑Q release (likely within the next 10‑12 days) for the first concrete expense data point.