Sono-Tek Corp. Files 2024 10-K

TL;DR

Sono-Tek's 2024 10-K is in: check financials for the year ending Feb 29.

AI Summary

Sono-Tek Corp. filed its 10-K for the fiscal year ending February 29, 2024, reporting on its financial performance and business operations. The company, incorporated in New York, operates in the Special Industry Machinery sector. Key financial data and operational details for the fiscal years 2023 and 2024 are presented within this comprehensive filing.

Why It Matters

This filing provides investors and stakeholders with a detailed overview of Sono-Tek Corp.'s financial health, strategic direction, and potential risks for the fiscal year ending February 29, 2024.

Risk Assessment

Risk Level: medium — The filing is a standard annual report, but the specific financial performance and market conditions detailed within it will determine the actual risk level for investors.

Key Numbers

• 2024-02-29 — Fiscal Year End (The end date for the reporting period covered by the 10-K.)
• 2023-02-28 — Prior Fiscal Year End (The end date for the previous fiscal year, used for comparison.)
• 001-40763 — SEC File Number (The company's SEC registration number.)

Key Players & Entities

• SONO TEK CORP (company) — Filer of the 10-K
• 0000806172 (company) — Central Index Key for Sono-Tek Corp.
• NY (location) — State of Incorporation
• 20240229 (date) — Fiscal Year End
• 20240523 (date) — Filing Date

FAQ

Key Financial Figures

• $0.01 — ge on which registered Common Stock $0.01 par value SOTK The Nasdaq Stock Marke
• $4.84 — n Stock on said date, which average was $4.84. The Registrant had 15,750,880 shares
• $2,886,000 — g fiscal 2024 and fiscal 2023, we spent $2,886,000 and $2,149,000, respectively, on resear
• $2,149,000 — nd fiscal 2023, we spent $2,886,000 and $2,149,000, respectively, on research and developm
• $8,822,000 — and Canada accounted for approximately $8,822,000, or 45% of total net sales, and $8,254,
• $8,254,000 — 822,000, or 45% of total net sales, and $8,254,000, or 55% of total net sales, respectivel

Filing Documents

• eps11317_sotk.htm (10-K) — 859KB
• ex21.htm (EX-21) — 2KB
• ex23-1.htm (EX-23.1) — 2KB
• ex31-1.htm (EX-31.1) — 9KB
• ex31-2.htm (EX-31.2) — 9KB
• ex32-1.htm (EX-32.1) — 3KB
• ex32-2.htm (EX-32.2) — 3KB
• sotk-logo.jpg (GRAPHIC) — 95KB
• 0001171520-24-000208.txt ( ) — 4448KB
• sotk-20240229.xsd (EX-101.SCH) — 30KB
• sotk-20240229_cal.xml (EX-101.CAL) — 51KB
• sotk-20240229_def.xml (EX-101.DEF) — 95KB
• sotk-20240229_lab.xml (EX-101.LAB) — 303KB
• sotk-20240229_pre.xml (EX-101.PRE) — 239KB
• eps11317_sotk_htm.xml (XML) — 473KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations. 21 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 30 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 30 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 30 Item 9A.

Controls and Procedures

Controls and Procedures. 30 Item 9B. Other Information. 30 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 30 PART III Item 10. Directors, Executive Officers and Corporate Governance. 31 Item 11.

Executive Compensation

Executive Compensation. 36 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 39 Item 13. Certain Relationships and Related Transactions. 41 Item 14. Principal Accountant Fees and Services. 41 Item 15. Exhibits, Financial Statement Schedules 42 Item 16. Form 10-K Summary. 43 PART I ITEM 1

BUSINESS

BUSINESS Sono-Tek Corporation (the "Company", "Sono-Tek", "We" or "Our") is the world leader in the design and manufacture of ultrasonic coating systems for applying precise, thin film coatings to add functional properties, protect or strengthen surfaces on parts and components for the microelectronics/electronics, alternative energy, medical, industrial and emerging research & development/other markets. We design and manufacture custom-engineered ultrasonic coating systems incorporating our patented technology, in combination with strong applications engineering knowledge, to assist our customers in achieving their desired coating solutions. Our ultrasonic nozzle systems use high frequency ultrasonic vibrations that atomize liquids into minute drops that can be applied to surfaces at low velocity providing microscopic layers of protective and other useful materials over a wide variety of surfaces, including glass and metals. Our equipment solutions are environmentally-friendly, efficient and highly reliable. They enable dramatic reductions in overspray, savings in raw materials, water and energy usage and provide improved process repeatability, transfer efficiency, high uniformity and reduced emissions. We serve a variety of industries and applications and have a broad base of customers. The applications that are employing our unique coating technology and expertise have been expanding as the advantages of ultrasonic coatings are more broadly recognized. The original application of our technology was to coat the inner surface of blood collection tubes used for medical diagnostic testing. Our products enable the application of a thin and uniform coating of material that prevents coagulation of blood. Following that initial breakthrough, our technology was then used for applying uniform flux coatings to printed circuit boards, a critical part of the fabrication process for all electronic devices. A later application for much larger surfaces was to address the man

View Full Filing

View this 10-K filing on SEC EDGAR