Sono-Tek Corp Files 10-Q for Q3 FY2025

TL;DR

Sono-Tek's Q3 FY25 10-Q is in. Check financials for Nov 30, 2024.

AI Summary

Sono-Tek Corporation filed its 10-Q for the period ending November 30, 2024. The filing covers the third quarter of fiscal year 2025. Key financial dates and periods reported include November 30, 2024, and the preceding fiscal year's comparable periods. The company's fiscal year ends on February 28.

Why It Matters

This filing provides investors with an update on Sono-Tek Corporation's financial performance and position as of November 30, 2024, crucial for understanding the company's trajectory.

Risk Assessment

Risk Level: low — This filing is a routine quarterly report and does not indicate any immediate or significant risks.

Key Numbers

• 2024-11-30 — Period End Date (This is the end date for the reporting period of the 10-Q filing.)
• 2025 — Fiscal Year (The filing pertains to the third quarter of fiscal year 2025.)
• 0228 — Fiscal Year End (Sono-Tek Corporation's fiscal year concludes on February 28th.)

Key Players & Entities

• SONO TEK CORP (company) — Filer
• 2024-11-30 (date) — Period of Report
• 2025-01-13 (date) — Filing Date
• 0000806172 (company) — Central Index Key
• NY (location) — State of Incorporation

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value per share SOTK NASDAQ Ind

Filing Documents

• eps11676_sotk.htm (10-Q) — 586KB
• sonotek-logo.jpg (GRAPHIC) — 95KB
• 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
• 0001171520-25-000009.txt ( ) — 3387KB
• sotk-20241130.xsd (EX-101.SCH) — 23KB
• sotk-20241130_cal.xml (EX-101.CAL) — 38KB
• sotk-20241130_def.xml (EX-101.DEF) — 72KB
• sotk-20241130_lab.xml (EX-101.LAB) — 229KB
• sotk-20241130_pre.xml (EX-101.PRE) — 183KB
• eps11676_sotk_htm.xml (XML) — 369KB

- Financial Information

Part I - Financial Information

– Condensed Consolidated Financial Statements

Item 1 – Condensed Consolidated Financial Statements: 1 - 4 Condensed Consolidated Balance Sheets – November 30, 2024 (Unaudited) and February 29, 2024 1 Condensed Consolidated Statements of Income – Nine and Three Months Ended November 30, 2024 and 2023 (Unaudited) 2 Condensed Consolidated Statements of Stockholders' Equity – Nine and Three Months Ended November 30, 2024 and 2023 (Unaudited) 3 Condensed Consolidated Statements of Cash Flows – Nine Months Ended November 30, 2024 and 2023 (Unaudited) 4 Notes to Unaudited Condensed Consolidated Financial Statements 5 - 10

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

Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations 11 –18

– Quantitative and Qualitative Disclosures about Market Risk

Item 3 – Quantitative and Qualitative Disclosures about Market Risk 19

– Controls and Procedures

Item 4 – Controls and Procedures 19

– Other Information

Part II – Other Information

– Legal Proceedings

Item 1 – Legal Proceedings 20

– Risk Factors

Item 1A – Risk Factors 20

– Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds 20

– Defaults Upon Senior Securities

Item 3 – Defaults Upon Senior Securities 20

– Mine Safety Disclosures

Item 4 – Mine Safety Disclosures 20

– Other Information

Item 5 – Other Information 20

– Exhibits and Reports

Item 6 – Exhibits and Reports 20 Signatures and Certifications 21 SONO-TEK CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS November 30, 2024 (Unaudited) February 29, 2024 ASSETS Current Assets: Cash and cash equivalents $ 8,098,750 $ 2,134,786 Marketable securities 4,582,428 9,711,351 Accounts receivable (less allowance of $ 12,225 ) 2,279,304 1,470,711 Inventories 4,737,510 5,221,980 Prepaid expenses and other current assets 123,298 207,738 Total current assets 19,821,290 18,746,566 Land 250,000 250,000 Buildings, equipment, furnishings and leasehold improvements, net 2,713,682 2,832,156 Intangible assets, net 39,931 47,566 Deferred tax asset 1,511,459 1,255,977 TOTAL ASSETS $ 24,336,362 $ 23,132,265 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 1,116,831 $ 1,049,742 Accrued expenses 1,925,036 1,739,478 Customer deposits 3,363,301 3,419,706 Income taxes payable 213,350 414,807 Total current liabilities 6,618,518 6,623,733 Deferred tax liability 317,070 229,534 Total liabilities 6,935,588 6,853,267 Commitments and Contingencies (Note 9) Stockholders' Equity Common stock, $ .01 par value; 25,000,000 shares authorized, 15,751,153 and 15,750,880 shares issued and outstanding as of November 30, 2024 and February 29, 2024, respectively 157,512 157,509 Additional paid-in capital 9,946,460 9,770,387 Accumulated earnings 7,296,802 6,351,102 Total stockholders' equity 17,400,774 16,278,998 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 24,336,362 $ 23,132,265 See notes to unaudited condensed consolidated financial statements. 1 SONO-TEK CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) Nine Months Ended November 30, Three Months Ended November 30, 2024 2023 2024 2023 Net Sales $ 15,383,416 $ 14,932,157 $ 5,190,596 $ 5,690,022 Cost of Goods Sold 8,069,633 7,428,348 2,847,397 2,764,013

View Full Filing

View this 10-Q filing on SEC EDGAR