Janel Corp Files 10-Q for Q4 2024
Ticker: JANL · Form: 10-Q · Filed: Feb 7, 2025 · CIK: 1133062
| Field | Detail |
|---|---|
| Company | Janel CORP (JANL) |
| Form Type | 10-Q |
| Filed Date | Feb 7, 2025 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, filing, financials
TL;DR
JANEL CORP 10-Q FILED 2/7/25 FOR PERIOD ENDING 12/31/24. HQ IN NY.
AI Summary
Janel Corp filed its 10-Q for the quarterly period ended December 31, 2024. The company, incorporated in Nevada, is headquartered at 80 Eighth Avenue, New York, NY. Its principal executive offices can be reached at (212) 373-5895. The filing was made on February 7, 2025.
Why It Matters
This filing provides investors with the latest financial performance and operational details for Janel Corp for the quarter ending December 31, 2024.
Risk Assessment
Risk Level: low — This is a routine quarterly filing and does not contain immediate red flags.
Key Players & Entities
- JANEL CORP (company) — Registrant
- December 31, 2024 (date) — Quarterly period end date
- February 7, 2025 (date) — Filing date
- 80 Eighth Avenue, New York, NY 10011 (location) — Business and mailing address
- (212) 373-5895 (phone_number) — Registrant's telephone number
FAQ
What is the fiscal year end for Janel Corp?
Janel Corp's fiscal year ends on September 30.
What is the SEC file number for Janel Corp?
The SEC file number for Janel Corp is 333-60608.
In which state is Janel Corp incorporated?
Janel Corp is incorporated in Nevada.
What was Janel Corp's former name?
Janel Corp was formerly known as JANEL WORLD TRADE LTD and WINE SYSTEMS DESIGN INC.
What is the SIC code for Janel Corp?
The Standard Industrial Classification (SIC) code for Janel Corp is 7389, which falls under SERVICES-BUSINESS SERVICES, NEC.
Filing Stats: 4,575 words · 18 min read · ~15 pages · Grade level 17.3 · Accepted 2025-02-07 17:00:36
Filing Documents
- ef20040726_10q.htm (10-Q) — 1000KB
- ef20040726_ex10-1.htm (EX-10.1) — 61KB
- ef20040726_ex10-2a.htm (EX-10.2A) — 23KB
- ef20040726_ex10-2b.htm (EX-10.2B) — 23KB
- ef20040726_ex10-2c.htm (EX-10.2C) — 23KB
- ef20040726_ex10-2d.htm (EX-10.2D) — 23KB
- ef20040726_ex31-1.htm (EX-31.1) — 10KB
- ef20040726_ex31-2.htm (EX-31.2) — 9KB
- ef20040726_ex32-1.htm (EX-32.1) — 5KB
- ef20040726_ex32-2.htm (EX-32.2) — 4KB
- 0001140361-25-003593.txt ( ) — 6436KB
- janl-20241231.xsd (EX-101.SCH) — 59KB
- janl-20241231_def.xml (EX-101.DEF) — 291KB
- janl-20241231_lab.xml (EX-101.LAB) — 547KB
- janl-20241231_pre.xml (EX-101.PRE) — 321KB
- janl-20241231_cal.xml (EX-101.CAL) — 51KB
- ef20040726_10q_htm.xml (XML) — 814KB
- Financial Information
Part I - Financial Information 3 Item 1.
Financial Statements
Financial Statements 3 Condensed Consolidated Balance Sheets as of December 31, 2024 (unaudited) and September 30, 2024 3 Condensed Consolidated Statements of Operations for the three months ended December 31, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statement of Stockholders' Equity for the three months ended December 31, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Cash Flows for the three months ended December 31, 2024 and 2023 (unaudited) 6 Notes to Condensed Consolidated Financial Statements (unaudited) 7 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 19 Item 4.
Controls and Procedures
Controls and Procedures 27
- Other Information
Part II - Other Information 28 Item 1.
Legal Proceedings
Legal Proceedings 28 Item 1A.
Risk Factors
Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28 Item 6. Exhibit Index 28
Signatures
Signatures 29 2 Table of Contents
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS JANEL CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share data) (Unaudited) December 31, 2024 September 30, 2024 ASSETS Current Assets: Cash $ 2,350 $ 2,832 Accounts receivable, net of allowance for doubtful accounts 33,697 33,815 Inventory, net 4,635 4,478 Prepaid expenses and other current assets 4,642 4,829 Total current assets 45,324 45,954 Property and Equipment, net 5,425 5,492 Other Assets: Intangible assets, net 24,475 25,117 Goodwill 23,227 23,030 Restricted cash 2,414 250 Investment in marketable securities at fair value 1,913 1,574 Operating lease right of use asset 7,861 8,621 Security deposits and other long-term assets 607 572 Total other assets 60,497 59,164 Total assets $ 111,246 $ 110,610 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Lines of credit $ 19,687 $ 23,013 Accounts payable - trade 33,151 32,000 Accrued expenses and other current liabilities 6,257 7,489 Dividends payable 2,274 2,271 Current portion of earnout 1,262 1,262 Current portion of long-term debt 1,452 1,276 Current portion of subordinated promissory notes-related party 1,574 1,628 Current portion of operating lease liabilities 2,198 2,419 Total current liabilities 67,855 71,358 Other Liabilities: Long-term debt 7,263 3,028 Long-term portion of earnout 2,165 2,119 Subordinated promissory notes-related party 3,100 3,445 Mandatorily redeemable non-controlling interest 1,529 1,529 Deferred income taxes 2,514 2,514 Long-term operating lease liabilities 6,338 6,585 Other liabilities 529 531 Total other liabilities 23,438 19,751 Total liabilities 91,293 91,109 Stockholders' Equity: Preferred Stock, $ 0.001 par value; 100,000 shares authorized Series C 30,000 shares authorized and 11,368 shares issued and outstanding at December 31, 2024 and September 30, 2024, liquidation value of $