Revenue Performance: NRIS reported a revenue of $100,267 for Q1 2025 compared to $130,904 in Q1 2024, marking a decrease of 23.25% year-over-year, while showing an upward trend of 27.66% compared to Q4 2024, where revenue was reported at $78,540.
Profitability Metrics: The gross profit margin of -62.39% indicates significant cost pressures. Operating loss increased to -$135,130, with a negative operating margin of -1.34%. The net income for the quarter also saw a worrying decline to -$169,037, equating to a net margin of -1.69%. Year-over-year, net income deterioration illustrates the mounting financial challenges faced by Norris.
Balance Sheet Analysis: Norris Industries holds total assets of $456,110 against total liabilities of $5,559,122, leading to negative shareholder equity of -$5,103,012. The current ratio of 0.650 indicates liquidity issues, while the debt to equity ratio stands at overly leveraged — a concern given the industry norms.
Cash Flow Status: The net cash used in operating activities was reported at -$85,278. This signals central issues in generating cash flow from operations, further compounded by a significant debt repayment of $100,000.