TechPrecision Corp Files 10-Q for Q2 2024
Ticker: TPCS · Form: 10-Q · Filed: Jan 21, 2025 · CIK: 1328792
| Field | Detail |
|---|---|
| Company | Techprecision Corp (TPCS) |
| Form Type | 10-Q |
| Filed Date | Jan 21, 2025 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
TechPrecision Corp 10-Q filed: financial updates for Q2 2024. Check retained earnings & paid-in capital.
AI Summary
TechPrecision Corporation filed a 10-Q for the period ending September 30, 2024. The company, incorporated in Delaware and based in Westminster, MA, operates in the fabricated structural metal products industry. Key financial data points include retained earnings and additional paid-in capital as of various dates in 2023 and 2024.
Why It Matters
This filing provides investors with an update on TechPrecision Corporation's financial health and operational status for the second quarter of fiscal year 2025.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial information without immediate red flags.
Key Numbers
- 8777432 — P3M (Represents a financial metric for the three months ending September 30, 2024.)
- 8777432 — P36M (Represents a financial metric for the thirty-six months ending September 30, 2024.)
Key Players & Entities
- TECHPRECISION CORP (company) — Filer
- 0001328792 (company) — Central Index Key
- 20240930 (date) — Period of Report
- 20250121 (date) — Filed as of Date
- 1 BELLA DRIVE (address) — Business Address
- WESTMINSTER (location) — Business City
- MA (location) — Business State
- 01473 (zip_code) — Business Zip
- 978-874-0591 (phone_number) — Business Phone
- 8777432 (dollar_amount) — P3M Value
FAQ
What is TechPrecision Corporation's primary industry?
TechPrecision Corporation operates in the 'FABRICATED STRUCTURAL METAL PRODUCTS' industry, SIC code 3440.
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is September 30, 2024.
When was this 10-Q filing submitted?
The filing was submitted on January 21, 2025.
What are some of the key financial statement components mentioned in the filing data?
The filing data mentions 'Retained Earnings' and 'Additional Paid In Capital' as of various dates in 2023 and 2024.
What is the company's fiscal year end?
The company's fiscal year ends on March 31.
Filing Stats: 4,737 words · 19 min read · ~16 pages · Grade level 16.2 · Accepted 2025-01-21 17:27:41
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share TPCS Nasdaq Capital Marke
Filing Documents
- tpcs-20240930x10q.htm (10-Q) — 1767KB
- tpcs-20240930xex31d1.htm (EX-31.1) — 12KB
- tpcs-20240930xex31d2.htm (EX-31.2) — 12KB
- tpcs-20240930xex32d1.htm (EX-32.1) — 7KB
- 0001410578-25-000033.txt ( ) — 7556KB
- tpcs-20240930.xsd (EX-101.SCH) — 58KB
- tpcs-20240930_cal.xml (EX-101.CAL) — 52KB
- tpcs-20240930_def.xml (EX-101.DEF) — 180KB
- tpcs-20240930_lab.xml (EX-101.LAB) — 390KB
- tpcs-20240930_pre.xml (EX-101.PRE) — 319KB
- tpcs-20240930x10q_htm.xml (XML) — 1410KB
FINANCIAL STATEMENTS (UNAUDITED)
FINANCIAL STATEMENTS (UNAUDITED) 3 CONDENSED CONSOLIDATED BALANCE SHEETS 3 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 4 CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY 5 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 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 21 ITEM 3 . QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK 35 ITEM 4.
CONTROLS AND PROCEDURES
CONTROLS AND PROCEDURES 35 PART II . OTHER INFORMATION 38 ITEM 1.
LEGAL PROCEEDINGS
LEGAL PROCEEDINGS 38 ITEM 5. OTHER INFORMATION 37 ITEM 6 . EXHIBITS 39
SIGNATURES
SIGNATURES 40 2 Table of Contents PART I
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS TECHPRECISION CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) September 30, March 31, ( in thousands, except per share data) 2024 2024 ASSETS Current assets: Cash and cash equivalents $ 132 $ 138 Accounts receivable, net 2,387 2,371 Contract assets 9,545 8,527 Raw materials 1,802 1,827 Work-in-process 1,558 1,423 Other current assets 459 564 Total current assets 15,883 14,850 Property, plant and equipment, net 14,380 14,798 Right of use asset, net 4,627 4,977 Other noncurrent assets 122 122 Total assets $ 35,012 $ 34,747 LIABILITIES AND STOCKHOLDERS' EQUITY: Current liabilities: Accounts payable $ 3,149 $ 1,408 Accrued expenses 3,936 4,263 Contract liabilities 2,517 3,788 Current portion of long-term lease liability 753 736 Current portion of long-term debt, net 7,055 7,559 Total current liabilities 17,410 17,754 Long-term lease liability 4,028 4,408 Other noncurrent liability 4,690 4,782 Total liabilities 26,128 26,944 Commitments (see Note 14) Stockholders' Equity: Common stock - par value $ 0.0001 per share, 50,000,000 shares authorized; Shares issued and outstanding September 30, 2024 – 9,619,232 and 9,609,232 , respectively; Shares issued and outstanding March 31, 2024 – 8,777,432 . 1 1 Additional paid in capital 18,343 15,201 Accumulated deficit ( 9,460 ) ( 7,399 ) Total stockholders' equity 8,884 7,803 Total liabilities and stockholders' equity $ 35,012 $ 34,747 See accompanying notes to the condensed consolidated financial statements. 3 Table of Contents TECHPRECISION CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) Three Months Ended September 30, Six Months Ended September 30, (in thousands, except per share data) 2024 2023 2024 2023 Revenue $ 8,946 $ 7,970 $ 16,932 $ 15,341 Cost of revenue 7,932 6,935