Financial highlights and trend analysis (USD, QQ3 2023):
- Revenue: $3,622,516; Cost of revenue: $2,801,392; Gross profit: $821,124; Gross margin: 22.67%
- Operating expenses: R&D $128,242; G&A $1,190,607; Selling & Mktg $283,123; Selling, General & Administrative total: $1,473,730
- Operating expenses (total): $1,699,181; EBITDA: -$738,420; EBITDA margin: -20.38%; Operating income: -$780,849; Operating margin: -21.56%
- Total other income/expenses, net: -$81,283; Income before tax: -$862,132; Income tax expense: $7,742; Net income: -$854,389; Net income margin: -23.59%; Earnings per share (diluted): -$0.0808; Weighted average shares outstanding: 10,577,132
- Cash flow: Net income -$854,389; Depreciation & amortization: $171,039; Change in working capital: -$773,641; Other working capital and non-cash items: -$355,? (net effect shown in cash flow items); Net cash from operating activities: -$1,363,154
- Investing activities: Capital expenditures: -$1,872,143; Other investing activities: -$5,130; Net cash used in investing activities: -$1,877,273
- Financing activities: Net cash provided by financing activities: $2,513,591; Effect of foreign exchange: -$95,589; Net change in cash: -$822,425; Cash at end of period: -$822,425 (data discrepancy noted below)
- Balance sheet highlights: Cash and cash equivalents: $5,525,430; Total current assets: $11,982,822; Total assets: $17,938,031; Total current liabilities: $4,442,599; Long-term debt: $1,197,765; Total liabilities: $5,640,364; Total stockholders’ equity: $12,297,667; Current ratio: 2.70; Quick ratio: 2.24; Debt to equity: 0.098; Net debt: -$4,327,665 (net cash position)
- Efficiency metrics: Receivables turnover 1.32x; Inventory turnover 1.38x; Fixed asset turnover 1.93x; Asset turnover 0.20x; Cash flow measures consistent with a capital-intensive supplier in transition.