Innovative Solutions & Support Inc. Files 10-Q

TL;DR

**ISSC 10-Q filed: Financials for Q ending Dec 31, 2024 out.**

AI Summary

Innovative Solutions & Support Inc. filed its 10-Q for the period ending December 31, 2024. The company, based in Exton, PA, operates in computer programming services. Key financial data points such as common stock, additional paid-in capital, treasury stock, and retained earnings as of December 31, 2024, and September 30, 2024, are detailed in the filing.

Why It Matters

This filing provides investors with a quarterly update on the financial health and operational status of Innovative Solutions & Support Inc., crucial for investment decisions.

Risk Assessment

Risk Level: low — This filing is a standard quarterly report and does not contain immediate red flags.

Key Numbers

• 3700000 — Common Stock (Value related to common stock as of a specific date within the filing.)
• 0.0033 — Treasury Stock (Value related to treasury stock as of a specific date within the filing.)

Key Players & Entities

• Innovative Solutions & Support Inc. (company) — Filer of the 10-Q
• 0000836690 (company) — Central Index Key for Innovative Solutions & Support Inc.
• Exton, PA (location) — Business and mailing address of the company
• December 31, 2024 (date) — End of the reporting period
• September 30, 2024 (date) — Previous fiscal year end date

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share ISSC Nasdaq Stock Market

Filing Documents

• issc-20241231x10q.htm (10-Q) — 1257KB
• issc-20241231xex31d1.htm (EX-31.1) — 14KB
• issc-20241231xex31d2.htm (EX-31.2) — 14KB
• issc-20241231xex32d1.htm (EX-32.1) — 11KB
• 0001558370-25-001027.txt ( ) — 6538KB
• issc-20241231.xsd (EX-101.SCH) — 39KB
• issc-20241231_cal.xml (EX-101.CAL) — 59KB
• issc-20241231_def.xml (EX-101.DEF) — 211KB
• issc-20241231_lab.xml (EX-101.LAB) — 433KB
• issc-20241231_pre.xml (EX-101.PRE) — 314KB
• issc-20241231x10q_htm.xml (XML) — 1148KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) Condensed Consolidated Balance Sheets - December 31, 2024 (unaudited) and September 30, 2024 1 Co ndensed C onsolidated Statements of Operations - Three Months Ended December 31, 2024 and 2023 (unaudited) 2 Co ndensed C onsolidated Statements of Shareholders' Equity - Three Months Ended December 31, 2024 and 2023 (unaudited) 3 - 4 Co ndensed C onsolidated Statements of Cash Flows - Three Months Ended December 31, 2024 and 2023 (unaudited) 5 Notes to Condensed Consolidated Financial Statements (unaudited) 6 - 23 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 - 31 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 31 Item 4.

Controls and Procedures

Controls and Procedures 32 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 32 Item 1A.

Risk Factors

Risk Factors 32 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33 Item 3. Defaults upon Senior Securities 33 Item 4. Mine Safety Disclosures 33 Item 5. Other Information 33 Item 6. Exhibits 34

SIGNATURES

SIGNATURES 35 Table of Contents

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

- Financial Statements

Item 1 - Financial Statements INNOVATIVE SOLUTIONS AND SUPPORT, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) December 31, September 30, 2024 2024 ASSETS Current assets Cash and cash equivalents $ 604,561 $ 538,977 Accounts receivable 7,716,632 12,612,482 Contract assets 3,410,340 1,680,060 Inventories 15,506,851 12,732,381 Prepaid inventory 5,251,653 5,960,404 Prepaid expenses and other current assets 1,565,883 1,161,394 Total current assets 34,055,920 34,685,698 Goodwill 5,213,104 5,213,104 Intangible assets, net 26,544,011 27,012,292 Property and equipment, net 13,449,044 13,372,298 Deferred income taxes 1,841,737 1,625,144 Other assets 150,119 473,725 Total assets $ 81,253,935 $ 82,382,261 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable 1,876,313 2,315,479 Accrued expenses 4,283,466 4,609,294 Contract liability 358,806 340,481 Total current liabilities 6,518,585 7,265,254 Long-term debt 26,512,491 28,027,002 Other liabilities 451,351 451,350 Total liabilities 33,482,427 35,743,606 Commitments and contingencies (See Note 6) Shareholders' equity Preferred stock, 10,000,000 shares authorized, $ .001 par value, of which 200,000 shares are authorized as Class A Convertible stock. No shares issued and outstanding at December 31, 2024 and September 30, 2024 — — Common stock, $ .001 par value: 75,000,000 shares authorized, 19,635,515 and 19,599,052 issued at December 31, 2024 and September 30, 2024, respectively 19,635 19,599 Additional paid-in capital 55,717,125 55,320,500 Retained earnings 13,403,285 12,667,093 Treasury stock, at cost, 2,096,451 shares at December 31, 2024 and at September 30, 2024, respectively ( 21,368,537 ) ( 21,368,537 ) Total shareholders' equity 47,771,508 46,638,655 Total liabilities and shareholders' equity $ 81,253,935 $ 82,382,261 See accompanying

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View this 10-Q filing on SEC EDGAR