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SEGMENT ANALYSIS (Tables)

9 Months Ended

Jul. 31, 2023

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, 2023
Net Revenues		$	2,863,251			$	2,027,281			$	-			$	4,890,532
Cost of Revenues			512,091				1,013,217				-				1,525,308
Gross Profit			2,351,160				1,014,064				-				3,365,224
Research & Development			557,260				11,027				-				568,287
Selling, General & Administrative			882,663				547,712				503,948				1,934,323
Total Operating Expenses			1,439,923				558,739				503,948				2,502,610
Income (Loss) from Operations			911,237				455,325				(503,948	)			862,614
Other Income
Other Income			180,463				34,089				-				214,552
Interest Expense
Total Other Income			180,463				34,089				-				214,552
Income (Loss) before Income Taxes			1,091,700				489,414				(503,948	)			1,077,166
Income Tax (Expense) Benefit
Current Tax (Expense) Benefit			(39,064	)			(55,476	)			25,769				(68,771	)
Deferred Tax (Expense) Benefit			-				-				30,385				30,385
Total Income Tax (Expense) Benefit			(39,064	)			(55,476	)			56,154				(38,386	)
Net Income (Loss)		$	1,052,636			$	433,938			$	(447,794	)		$	1,038,780
Supplemental Disclosures
Total Assets		$	37,173,921			$	13,962,350			$	833,524			$	51,969,795
Total Liabilities		$	1,619,997			$	679,522			$	(166,953	)		$	2,132,566
Revenues from Intercompany Sales – eliminated from sales above		$	1,174,823			$	106,328			$	300,000			$	1,581,151
Depreciation and Amortization		$	141,764			$	25,716			$	11,446			$	178,927
Purchases of Long-lived Assets		$	263,493			$	2,814			$	28,946			$	295,253

CODA OCTOPUS GROUP, INC.

Notes to the Consolidated Financial Statements

July 31, 2023, and October 31, 2022

NOTE 14 – SEGMENT ANALYSIS (Continued)

		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
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) Benefit			(226,264	)			(23,148	)			(77,320	)			(326,732	)
Deferred Tax (Expense) 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, 2023, and October 31, 2022

NOTE 14 – SEGMENT ANALYSIS (Continued)

		Marine Technology Business (Products)				Marine Engineering Business (Services)				Overhead				Total
Nine Months Ended July 31, 2023
Net Revenues		$	10,270,839			$	5,517,486			$	-			$	15,788,325
Cost of Revenues			2,461,717				2,585,138				-				5,046,855
Gross Profit			7,809,122				2,932,348				-				10,741,470
Research & Development			1,513,973				24,711				-				1,538,684
Selling, General & Administrative			2,422,383				1,849,761				1,866,824				6,138,968
Total Operating Expenses			3,936,356				1,874,472				1,866,824				7,677,652
Income (Loss) from Operations			3,872,766				1,057,876				(1,866,824	)			3,063,818
Other Income (Expense)
Other Income			345,390				58,303				-				403,693
Total Other Income (Expense)			345,390				58,303				-				403,693
Income (Loss) before Income Taxes			4,218,156				1,116,179				(1,866,824	)			3,467,511
Income Tax (Expense) Benefit
Current Tax (Expense) Benefit			(166,649	)			(77,517	)			106,611				(137,555	)
Deferred Tax (Expense) Benefit			-				-				115,158				115,158
Total Income Tax (Expense) Benefit			(166,649	)			(77,517	)			221,770				(22,397	)
Net Income (Loss)		$	4,051,507			$	1,038,662			$	(1,645,054	)		$	3,445,114
Supplemental Disclosures
Total Assets		$	37,173,921			$	13,962,350			$	833,524			$	51,969,795
Total Liabilities		$	1,619,997			$	679,522			$	(166,953	)		$	2,132,566
Revenues from Intercompany Sales – eliminated from sales above		$	4,088,818			$	321,846			$	900,000			$	5,310,664
Depreciation and Amortization		$	414,167			$	75,201			$	32,146			$	521,515
Purchases of Long-lived Assets		$	407,326			$	25,606			$	76,677			$	509,609

CODA OCTOPUS GROUP, INC.

Notes to the Consolidated Financial Statements

July 31, 2023, and October 31, 2022

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				2004				111,334
Income (Loss) before Income Taxes			5,617,190				378,448				(2,014,326	)			3,981,312
Income Tax (Expense) Benefit
Current Tax (Expense) Benefit			(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

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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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Section 50
-Paragraph 30
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