Koss Corp Files Q1 2025 10-Q
Ticker: KOSS · Form: 10-Q · Filed: Nov 1, 2024 · CIK: 56701
| Field | Detail |
|---|---|
| Company | Koss Corp (KOSS) |
| Form Type | 10-Q |
| Filed Date | Nov 1, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.005 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
Koss Corp 10-Q filed. Q1 FY25 results out.
AI Summary
Koss Corporation filed its 10-Q for the period ending September 30, 2024. The company reported financial results for its first fiscal quarter of 2025. Specific financial figures and operational details for this period are detailed within the filing.
Why It Matters
This filing provides investors with an update on Koss Corporation's financial performance and operational status for the first quarter of fiscal year 2025.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing financial updates.
Key Players & Entities
- KOSS CORP (company) — Filer
- 2024-09-30 (date) — Reporting period end date
- 2024-11-01 (date) — Filing date
- MILWAUKEE (location) — Company headquarters
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on November 1, 2024.
What fiscal quarter does this filing cover?
This filing covers the first fiscal quarter of 2025.
What is Koss Corporation's Standard Industrial Classification code?
Koss Corporation's Standard Industrial Classification code is 3651, for HOUSEHOLD AUDIO & VIDEO EQUIPMENT.
Where is Koss Corporation headquartered?
Koss Corporation is headquartered in Milwaukee, WI.
Filing Stats: 4,391 words · 18 min read · ~15 pages · Grade level 16.3 · Accepted 2024-10-31 17:56:50
Key Financial Figures
- $0.005 — ch registered Common Stock, par value $0.005 per share KOSS Nasdaq Capital Marke
Filing Documents
- koss-20240930x10q.htm (10-Q) — 1282KB
- koss-20240930xex10_1.htm (EX-10.1) — 56KB
- koss-20240930xex31_1.htm (EX-31.1) — 13KB
- koss-20240930xex31_2.htm (EX-31.2) — 14KB
- koss-20240930xex32_1.htm (EX-32.1) — 8KB
- koss-20240930xex32_2.htm (EX-32.2) — 9KB
- koss-20240930xex10_1g001.jpg (GRAPHIC) — 22KB
- koss-20240930xex10_1g002.jpg (GRAPHIC) — 6KB
- 0000056701-24-000043.txt ( ) — 4315KB
- koss-20240930.xsd (EX-101.SCH) — 20KB
- koss-20240930_cal.xml (EX-101.CAL) — 45KB
- koss-20240930_def.xml (EX-101.DEF) — 53KB
- koss-20240930_lab.xml (EX-101.LAB) — 237KB
- koss-20240930_pre.xml (EX-101.PRE) — 162KB
- koss-20240930x10q_htm.xml (XML) — 608KB
Financial Statements (Unaudited)
Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of September 30, 2024 and June 30, 202 4 3 Condensed Consolidated Statements of Operations for the Three Months Ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for the Three Months Ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the Three Months Ended September 30, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements 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 13 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 19 Item 4.
Controls and Procedures
Controls and Procedures 19 PART II OTHER INFORMATION 19 Item 1.
Legal Proceedings
Legal Proceedings 19 Item 1A.
Risk Factors
Risk Factors 19 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 20 Item 6. Exhibits 21 2 Table of Contents PART I FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements KOSS CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) September 30, 2024 June 30, 2024 ASSETS Current assets: Cash and cash equivalents $ 2,750,732 $ 2,837,081 Short term investments 9,142,324 12,104,459 Accounts receivable, less allowance for credit losses of $ 1,922 at September 30, 2024 and June 30, 2024 1,388,610 1,208,319 Inventories 4,735,110 4,473,680 Prepaid expenses and other current assets 1,161,533 1,081,437 Interest receivable 114,615 170,429 Income taxes receivable 44,285 41,756 Total current assets 19,337,209 21,917,161 Equipment and leasehold improvements, net 1,527,451 1,223,391 Other assets: Long term investments 7,997,286 4,994,327 Operating lease right-of-use asset 2,704,778 2,765,445 Cash surrender value of life insurance 6,535,023 6,299,155 Total other assets 17,237,087 14,058,927 Total assets $ 38,101,747 $ 37,199,479 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 731,694 $ 329,829 Accrued liabilities 1,113,106 462,858 Deferred revenue 249,032 229,384 Operating lease liability 242,848 239,688 Income taxes payable 28,225 35,899 Total current liabilities 2,364,905 1,297,658 Long-term liabilities: Deferred compensation 2,290,498 2,093,124 Deferred revenue 119,745 119,787 Operating lease liability 2,479,824 2,541,734 Total long-term liabilities 4,890,067 4,754,645 Total liabilities 7,254,972 6,052,303 Stockholders' equity: Common stock, $ 0.005 par value, authorized 20,000,000 shares; issued and outstanding 9,350,795 at September 30, 2024 and 9,299,795 at June 30, 2024, respectively 46,754 46,499 Paid in capital 13,523,356 13,404,477 Retained earnings 17,276,665 17,696,200 Total stockholders' equity 30,846,775 31,147,176 Total liabilities and stockholders' equity $ 38