Scientific Industries Q3 Revenue Declines

TL;DR

SCND revenue down to $18.1M for 9 months ending Sep 30, 2024 vs $20.3M last year. Ouch.

AI Summary

Scientific Industries Inc. reported its Q3 2024 results, with total revenues for the nine months ending September 30, 2024, reaching $18.077 million. This represents a decrease from the $20.336 million reported for the same period in 2023. The company's fiscal year ends on December 31st.

Why It Matters

A decline in revenue for Scientific Industries Inc. could indicate challenges in market demand or competitive pressures affecting their laboratory analytical instruments business.

Risk Assessment

Risk Level: medium — The decline in revenue suggests potential market challenges or operational issues that could impact future financial performance.

Key Numbers

• $18.077M — Revenue (9 months ended 09/30/2024) (Represents the company's top-line performance for the period.)
• $20.336M — Revenue (9 months ended 09/30/2023) (Provides a year-over-year comparison for revenue.)

Key Players & Entities

• SCIENTIFIC INDUSTRIES INC (company) — Filer
• 20240930 (date) — Period of Report
• $18.077 million (dollar_amount) — Revenue for nine months ending September 30, 2024
• $20.336 million (dollar_amount) — Revenue for nine months ending September 30, 2023

FAQ

Key Financial Figures

• $716,776 — mmon Stock for a total consideration of $716,776. The Company recognized $98,700 of issu
• $98,700 — ion of $716,776. The Company recognized $98,700 of issuance cost, which includes $71,10
• $71,100 — 98,700 of issuance cost, which includes $71,100 attributable to legal and placement age
• $27,600 — e to legal and placement agent fees and $27,600 attributable to the fair value of warra
• $2.00 — of Common Stock at an exercise price of $2.00 per share on substantially the same ter
• $2.50 — rants held by such Existing Investor to $2.50 per share and extend the period in whic

Filing Documents

• scnd_10q.htm (10-Q) — 1069KB
• scnd_ex311.htm (EX-31.1) — 15KB
• scnd_ex312.htm (EX-31.2) — 14KB
• scnd_ex321.htm (EX-32.1) — 6KB
• scnd_ex322.htm (EX-32.2) — 6KB
• 0001654954-24-014460.txt ( ) — 4593KB
• scnd-20240930.xsd (EX-101.SCH) — 34KB
• scnd-20240930_lab.xml (EX-101.LAB) — 199KB
• scnd-20240930_cal.xml (EX-101.CAL) — 45KB
• scnd-20240930_pre.xml (EX-101.PRE) — 162KB
• scnd-20240930_def.xml (EX-101.DEF) — 70KB
• scnd_10q_htm.xml (XML) — 919KB

- Financial Information

PART I - Financial Information Item 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations and Comprehensive Loss 4 Condensed Consolidated Statements of Changes in Shareholders' Equity 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Unaudited 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 16 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

- Other Information

PART II - Other Information Item 1.

Legal Proceedings

Legal Proceedings 21 Item 1A.

Risk Factors

Risk Factors 21 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 21 Item 3. Defaults Upon Senior Securities 21 Item 4. Mine Safety Disclosures 21 Item 5. Other Information 21 Item 6. Exhibits 22 SIGNATURE 23 2 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements SCIENTIFIC INDUSTRIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS September 30, 2024 December 31, 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 563,500 $ 796,100 Investment securities 2,464,300 4,928,700 Trade accounts receivable, less allowance for doubtful accounts of $ 15,600 at September 30, 2024 and December 31, 2023 1,357,400 1,157,100 Inventories 4,788,300 4,883,900 Income tax receivable 73,600 161,400 Prepaid expenses and other current assets 405,100 413,500 Total current assets 9,652,200 12,340,700 Property and equipment, net 970,500 1,082,300 Goodwill 115,300 115,300 Other intangible assets, net 879,000 1,249,900 Inventories 597,100 609,000 Operating lease right-of-use assets 1,033,300 1,273,900 Other assets 59,400 59,400 Total assets $ 13,306,800 $ 16,730,500 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 615,300 $ 711,700 Accrued expenses 623,600 777,900 Contract liabilities 44,300 23,600 Lease liabilities, current portion 327,300 324,100 Total current liabilities 1,610,500 1,837,300 Lease liabilities, less current portion 761,700 1,007,800 Total liabilities 2,372,200 2,845,100 Shareholders' equity: Common stock, $ 0.05 par value; 30,000,000 shares authorized; 10,503,599 and 10,145,211 , shares issued and 10,503,599 and 10,145,211 , shares outstanding at September 30, 2024 and December 31, 2023 525,200 507,300 Additional paid-in capital 42,322,100 40,844,600 Accumulated other comprehensive gain 87,700 18,600 Accumulated deficit ( 32,000,400 ) ( 27,485,100 ) Total shareholders' equity 10,934,600 13,885,400 Total liabilities and shareholders' equity $ 13,306,800 $ 16,730,500 See notes to unaudited condensed consolidated financial statements. 3 Table of Contents SCIENTIFIC INDUSTRIES, INC. AND SUBSIDIA

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View this 10-Q filing on SEC EDGAR