Coda Octopus Group Q3 2024 Filing Released

TL;DR

**CODA filing out: Q3 numbers in. Check financials for latest performance.**

AI Summary

Coda Octopus Group, Inc. filed a 10-Q for the period ending July 31, 2024. The filing covers their third quarter performance and provides financial details for the nine months ended July 31, 2024, and the comparable periods in 2023. Specific financial figures for revenue, net income, and assets are detailed within the report.

Why It Matters

This filing provides investors with an update on Coda Octopus Group's financial health and operational performance for the third quarter of fiscal year 2024, crucial for investment decisions.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information that could reveal positive or negative trends impacting the company's stock.

Key Numbers

• 2024-07-31 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
• 2024-09-16 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Coda Octopus Group, Inc. (company) — Filer of the 10-Q
• 20240731 (date) — End of the reporting period
• 20240916 (date) — Filing date

FAQ

Filing Documents

• form10-q.htm (10-Q) — 1303KB
• ex-31.htm (EX-31) — 35KB
• ex-32.htm (EX-32) — 9KB
• 0001493152-24-036298.txt ( ) — 5862KB
• coda-20240731.xsd (EX-101.SCH) — 28KB
• coda-20240731_cal.xml (EX-101.CAL) — 60KB
• coda-20240731_def.xml (EX-101.DEF) — 83KB
• coda-20240731_lab.xml (EX-101.LAB) — 231KB
• coda-20240731_pre.xml (EX-101.PRE) — 181KB
• form10-q_htm.xml (XML) — 1308KB

– Financial Information

PART I – Financial Information 3 Item 1: Financial Statements 3 Consolidated Balance Sheets as of July 31, 2024 (Unaudited) and October 31, 2023 3 Consolidated Statements of Income and Comprehensive Income for the Three and Nine Months Ended July 31, 2024 and 2023 (Unaudited) 5 Consolidated Statements of Changes in Stockholders' Equity for the Three and Nine Months Ended July 31, 2024 and 2023 (Unaudited) 6 Consolidated Statements of Cash Flows for the Nine Months Ended July 31, 2024 and 2023 (Unaudited) 7 Notes to Unaudited Consolidated Financial Statements 8

: Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations 23

: Quantitative and Qualitative Disclosures about Market Risks

Item 3: Quantitative and Qualitative Disclosures about Market Risks 34

: Controls and Procedures

Item 4: Controls and Procedures 34

– Other Information

PART II – Other Information 35

: Legal Proceedings

Item 1: Legal Proceedings 35

: Risk Factors

Item 1A: Risk Factors 35

: Unregistered Sales of Equity Securities and Use of Proceeds

Item 2: Unregistered Sales of Equity Securities and Use of Proceeds 35

: Default Upon Senior Securities

Item 3: Default Upon Senior Securities 35

: Mine Safety Disclosures

Item 4: Mine Safety Disclosures 35

: Other Information

Item 5: Other Information 35

: Exhibits

Item 6: Exhibits 35

Signatures

Signatures 36 2 PART I. FINANCIAL INFORMATION CODA OCTOPUS GROUP, INC. Consolidated Balance Sheets July 31, 2024 and October 31, 2023 2024 2023 Unaudited ASSETS CURRENT ASSETS Cash and Cash Equivalents $ 25,217,965 $ 24,448,841 Accounts Receivable 3,407,996 2,643,461 Inventory 13,023,993 11,685,525 Unbilled Receivables 2,611,520 894,251 Prepaid Expenses 821,072 181,383 Other Current Assets 618,199 1,034,626 Total Current Assets 45,700,745 40,888,087 FIXED ASSETS Property and Equipment, net 6,337,808 6,873,320 OTHER ASSETS Goodwill 3,382,108 3,382,108 Intangible Assets, net 524,453 486,615 Deferred Tax Asset - 211,386 Total Other Assets 3,906,561 4,080,109 Total Assets $ 55,945,114 $ 51,841,516 The accompanying notes are an integral part of these unaudited consolidated financial statements. 3 CODA OCTOPUS GROUP, INC. Consolidated Balance Sheets (Continued) July 31, 2024 and October 31, 2023 2024 2023 Unaudited LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts Payable $ 1,074,118 $ 1,308,201 Accrued Expenses and Other Current Liabilities 1,189,834 995,630 Deferred Revenue 754,747 975,537 Total Current Liabilities 3,018,699 3,279,368 LONG TERM LIABILITIES Deferred Tax Liability, net 41,552 - Deferred Revenue, less current portion 79,826 133,382 Total Long Term Liabilities 121,378 133,382 Total Liabilities 3,140,077 3,412,750 Commitments and contingencies - - STOCKHOLDERS' EQUITY Common Stock, $ .001 par value; 150,000,000 shares authorized, 11,178,933 issued and outstanding as of July 31, 2024 and 11,117,695 shares issued and outstanding as of October 31, 2023 11,179 11,118 Treasury Stock ( 61,933 ) ( 46,300 ) Additional Paid-in Capital 63,045,766 62,958,984 Accumulated Other Comprehensive Loss ( 2,457,272 ) ( 3,442,549 ) Accumulated Deficit ( 7,732,703 ) ( 11,052,487 ) Total Stockholders' Equity 5

View Full Filing

View this 10-Q filing on SEC EDGAR