Coda Octopus Group, Inc. reported a consolidated revenue of $5.21 million for the three months ended January 31, 2025, marking a 16.8% increase from $4.46 million in the same period last year. The company achieved a net income of $912,975, or $0.08 per share, compared to $629,888, or $0.06 per share, in the prior year. This increase in profitability is attributed to the acquisition of Precision Acoustics Limited (PAL), which contributed $1.31 million in revenue and $556,049 in earnings during the quarter.
The financial performance reflects significant changes compared to the previous fiscal period. The Marine Technology Business, which traditionally generates a substantial portion of revenue, saw a decline of 35.8% in sales, primarily due to weak global demand and uncertainties surrounding U.S. government policies on energy and defense. In contrast, the Services Business experienced a 76.6% increase in revenue, contributing $1.62 million to the total, while the PAL segment accounted for 25.2% of consolidated revenue.
Operationally, Coda Octopus reported a decrease in total operating expenses, which rose by 9.3% to $2.77 million, driven by increased costs associated with the acquisition of PAL. The company’s gross profit margin decreased slightly to 65.8% from 69.2% in the previous year, influenced by the changing revenue mix. The company also reported a reduction in sales commission costs, which fell by 16.3% to $245,509, reflecting lower sales activity in Asia.
Coda Octopus continues to focus on strategic growth through innovation and market expansion. The recent acquisition of PAL is expected to enhance the company’s capabilities in acoustic and medical imaging technologies, which can be leveraged in the subsea market. The company anticipates that the new U.S. administration's focus on defense spending will favor its business in the medium to long term, despite current uncertainties. As of January 31, 2025, Coda Octopus had cash and cash equivalents of $22.54 million and working capital of $39.38 million, positioning the company to meet its anticipated cash needs for the next twelve months.
About Coda Octopus Group, Inc.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.