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SEGMENT ANALYSIS (Tables)

9 Months Ended

Jul. 31, 2022

Segment Reporting [Abstract]

SCHEDULE OF SEGMENT REPORTING INFORMATION

 SCHEDULE OF SEGMENT REPORTING INFORMATION

		Marine Technology Business (Products)				Marine Engineering Business (Services)				Overhead				Total
Three Months Ended July 31, 2022
Net Revenues		$	4,004,557			$	2,262,852			$	-			$	6,267,409
Cost of Revenues			532,248				1,172,517				-				1,704,765
Gross Profit			3,472,309				1,090,335				-				4,562,644
Research & Development			605,857				(27,904	)			-				577,953
Selling, General & Administrative			731,200				700,820				528,958				1,960,978
Total Operating Expenses			1,337,057				672,916				528,958				2,538,931
Income (Loss) from Operations			2,135,252				417,419				(528,958	)			2,023,713
Other Income (Expense)
Other Income			14,472				4,212				1,060				19,744
Funding from Paycheck Protection Program
Interest Expense			-				-				-				-
Total Other Income (Expense)			14,472				4,212				1,060				19,744
Income (Loss) before Income Taxes			2,149,724				421,631				(527,898	)			2,043,457
Income Tax (Expense) Benefit
Current Tax Expense			(226,264	)			(23,148	)			(77,320	)			(326,732	)
Deferred Tax Benefit			378				2,141				49,413				51,932
Total Income Tax (Expense) Benefit			(225,886	)			(21,007	)			(27,907	)			(274,800	)
Net Income (Loss)		$	1,923,838			$	400,624			$	(555,805	)		$	1,768,657
Supplemental Disclosures
Total Assets		$	33,015,110			$	13,354,167			$	834,699			$	47,203,976
Total Liabilities		$	3,246,151			$	774,497			$	391,958			$	4,412,606
Revenues from Intercompany Sales - eliminated from sales above		$	966,316			$	62,757			$	607,500			$	1,636,573
Depreciation and Amortization		$	174,739			$	24,209			$	9,873			$	208,821
Purchases of Long-lived Assets		$	14,815			$	22,125			$	17,469			$	54,409

CODA OCTOPUS GROUP, INC.

Notes to the Consolidated Financial Statements

July 31, 2022, and October 31, 2021

NOTE 14 -SEGMENT ANALYSIS (Continued)

		Marine Technology Business (Products)				Marine Engineering Business (Services)				Overhead				Total
Three Months Ended July 31, 2021
Net Revenues		$	3,845,051			$	1,982,324			$	-			$	5,827,375
Cost of Revenues			545,243				1,069,723				-				1,614,966
Gross Profit			3,299,808				912,601				-				4,212,409
Research & Development			540,553				135,213				-				675,766
Selling, General & Administrative			862,673				621,876				729,272				2,213,821
Total Operating Expenses			1,403,226				757,089				729,272				2,889,587
Income (Loss) from Operations			1,896,582				155,512				(729,272	)			1,322,822
Other Income (Expense)
Other Income			3,554				17				-				3,571
Interest Expense			(584	)			(365	)			(5,196	)			(6,145	)
Total Other Income (Expense)			2,970				(348	)			(5,196	)			(2,574	)
Income (Loss) before Income Taxes			1,899,552				155,164				(734,468	)			1,320,248
Income Tax (Expense) Benefit
Current Tax Benefit (Expense)			157,333				260,996				-				418,329
Deferred Tax (Expense) Benefit			(338,098	)			108,141				12,466				(217,491	)
Total Income Tax (Expense) Benefit			(180,765	)			369,137				12,466				200,838
Net Income (Loss)		$	1,718,787			$	524,301			$	(722,002	)		$	1,521,086
Supplemental Disclosures
Total Assets		$	28,820,472			$	14,608,555			$	934,192			$	44,363,219
Total Liabilities		$	2,159,921			$	844,816			$	379,474			$	3,384,211
Revenues from Intercompany Sales - eliminated from sales above		$	492,579			$	44,372			$	675,000			$	1,211,951
Depreciation and Amortization		$	195,103			$	24,590			$	7,952			$	227,645
Purchases of Long-lived Assets		$	201,198			$	7,655			$	30,584			$	239,437

CODA OCTOPUS GROUP, INC.

Notes to the Consolidated Financial Statements

July 31, 2022, and October 31, 2021

NOTE 14 -SEGMENT ANALYSIS (Continued)

		Marine Technology Business (Products)				Marine Engineering Business (Services)				Overhead				Total
Nine Months Ended July 31, 2022
Net Revenues		$	11,319,314			$	5,771,141			$	-			$	17,090,455
Cost of Revenues			1,920,573				3,415,598				-				5,336,171
Gross Profit			9,398,741				2,355,543				-				11,754,284
Research & Development			1,752,478				15,743				-				1,768,221
Selling, General & Administrative			2,059,147				2,040,608				2,016,330				6,116,085
Total Operating Expenses			3,811,625				2,056,351				2,016,330				7,884,306
Income (Loss) from Operations			5,587,116				299,192				(2,016,330	)			3,869,978
Other Income (Expense)
Other Income			32,576				79,256				2,404				114,236
Interest Expense			(2,502	)			-				(400	)			(2,902	)
Total Other Income (Expense)			30,074				79,256				2,004				111,334
Income (Loss) before Income Taxes			5,617,190				378,448				(2,014,326	)			3,981,312
Income Tax (Expense) Benefit
Current Tax Benefit (Expense)			(492,505	)			147,778				(158,464	)			(503,191	)
Deferred Tax (Expense) Benefit			5,159				(42,839	)			156,767				119,087
Total Income Tax (Expense) Benefit			(487,346	)			104,939				(1,697	)			(384,104	)
Net Income (Loss)		$	5,129,844			$	483,387			$	(2,016,023	)		$	3,597,208
Supplemental Disclosures
Total Assets		$	33,015,110			$	13,354,167			$	834,699			$	47,203,976
Total Liabilities		$	3,246,151			$	774,497			$	391,958			$	4,412,606
Revenues from Intercompany Sales - eliminated from sales above		$	1,769,365			$	305,450			$	1,815,000			$	3,889,815
Depreciation and Amortization		$	551,866			$	72,056			$	28,840			$	652,762
Purchases of Long-lived Assets		$	1,085,877			$	34,174			$	75,834			$	1,195,885

CODA OCTOPUS GROUP, INC.

Notes to the Consolidated Financial Statements

July 31, 2022, and October 31, 2021

NOTE 14 -SEGMENT ANALYSIS (Continued)

		Marine Technology Business (Products)				Marine Engineering Business (Services)				Overhead				Total
Nine Months Ended July 31, 2021
Net Revenues		$	11,777,739			$	4,473,171			$	-			$	16,250,910
Cost of Revenues			2,462,219				2,511,756				-				4,973,975
Gross Profit			9,315,520				1,961,415				-				11,276,935
Research & Development			1,521,175				383,011				-				1,904,186
Selling, General & Administrative			2,402,406				1,751,197				1,670,443				5,824,046
Total Operating Expenses			3,923,581				2,134,208				1,670,443				7,728,232
Income (Loss) from Operations			5,391,939				(172,793	)			(1,670,443	)			3,548,703
Other Income (Expense)
Other Income			74,173				51				846				75,070
Funding from Paycheck Protection Program			122,327				526,545				-				648,872
Interest Expense			(1,069	)			(365	)			(16,008	)			(17,442	)
Total Other Income (Expense)			195,431				526,231				(15,162	)			706,500
Income (Loss) before Income Taxes			5,587,370				353,438				(1,685,605	)			4,255,203
Income Tax (Expense) Benefit
Current Tax (Expense) Benefit			254,745				498,666				(394	)			753,017
Deferred Tax Benefit (Expense)			(356,164	)			264,636				(58,829	)			(150,357	)
Total Income Tax (Expense) Benefit			(101,419	)			763,302				(59,223	)			602,660
Net Income (Loss)		$	5,485,951			$	1,116,740			$	(1,744,828	)		$	4,857,863
Supplemental Disclosures
Total Assets		$	28,820,472			$	14,608,555			$	934,192			$	44,363,219
Total Liabilities		$	2,159,921			$	844,816			$	379,474			$	3,384,211
Revenues from Intercompany Sales - eliminated from sales above		$	1,367,619			$	184,016			$	2,025,000			$	3,576,635
Depreciation and Amortization		$	707,761			$	98,671			$	21,077			$	827,509
Purchases of Long-lived Assets		$	745,405			$	13,203			$	80,018			$	838,626

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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