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SEGMENT ANALYSIS (Tables)

12 Months Ended

Oct. 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
Year Ended October 31, 2023
Net Revenues		$	12,119,066			$	7,233,022			$	-			$	19,352,088
Cost of Revenues			2,819,796				3,501,237				-				6,321,033
Gross Profit			9,299,270				3,731,785				-				13,031,055
Research & Development			2,043,890				52,577				-				2,096,467
Selling, General & Administrative			3,109,566				2,463,087				2,622,383				8,195,036
Total Operating Expenses			5,153,456				2,515,664				2,622,383				10,291,503
Income (Loss) from Operations			4,145,814				1,216,121				(2,622,383	)			2,739,552
Other Income (Expense)
Other Income			39,146				-				-				39,146
Interest Income			544,892				97,638				-				642,530
Total Other Income (Expense)			584,038				97,638				-				681,676
Income (Loss) before Income Taxes			4,729,852				1,313,759				(2,622,383	)			3,421,228
Income Tax (Expense) Benefit
Current Tax (Expense) Benefit			(272,126	)			(78,876	)			102,347				(248,655	)
Deferred Tax (Expense) Benefit			(115,954	)			54,382				13,148				(48,424	)
Total Income Tax (Expense) Benefit			(388,080	)			(24,494	)			115,495				(297,079	)
Net Income (Loss)		$	4,341,772			$	1,289,265			$	(2,506,889	)		$	3,124,149
Supplemental Disclosures
Total Assets		$	36,969,673			$	13,604,262			$	1,267,581			$	51,841,516
Total Liabilities		$	2,263,761			$	732,582			$	416,407			$	3,412,750
Revenues from Intercompany Sales - eliminated from sales above		$	4,602,741			$	584,622			$	1,200,000			$	6,387,363
Depreciation and Amortization		$	523,339			$	100,689			$	43,502			$	667,530
Purchases of Long-lived Assets		$	1,996,544			$	25,404			$	108,392			$	2,130,340

CODA OCTOPUS GROUP, INC.

Notes to the Consolidated Financial Statements

October 31, 2023 and 2022

		Marine Technology Business (Products)				Marine Engineering Business (Services)				Overhead				Total
Year Ended October 31, 2022
Net Revenues		$	14,724,688			$	7,501,115				-			$	22,225,803
Cost of Revenues			2,941,569				4,093,546				-				7,035,115
Gross Profit			11,783,119				3,407,569				-				15,190,688
Research & Development			2,207,500				30,420				-				2,237,920
Selling, General & Administrative			2,563,554				2,654,565				2,730,585				7,948,704
Total Operating Expenses			4,771,054				2,684,985				2,730,585				10,186,624
Income (Loss) from Operations			7,012,065				722,584				(2,730,585	)			5,004,064
Other Income (Expense)
Other Income			55,715				79,204				3,056				137,975
Interest Expense			(9,233	)			(71	)			(400	)			(9,704	)
Total Other Income (Expense)			46,482				79,133				2,656				128,271
Income (Loss) before Income Taxes			7,058,547				801,717				(2,727,929	)			5,132,335
Income Tax (Expense) Benefit
Current Tax Benefit (Expense)			(868,162	)			39,422				(176,400	)			(1,005,140	)
Deferred Tax (Expense) Benefit			31,907				(41,657	)			183,776				174,026
Total Income Tax (Expense) Benefit			(836,255	)			(2,235	)			7,376				(831,114	)
Net Income (Loss)		$	6,222,292			$	799,482			$	(2,720,553	)		$	4,301,221
Supplemental Disclosures
Total Assets		$	33,348,805			$	12,662,109			$	916,544			$	46,927,458
Total Liabilities		$	2,432,750			$	526,195			$	585,704			$	3,544,649
Revenues from Intercompany Sales - eliminated from sales above		$	2,406,717			$	396,015			$	2,720,000			$	5,522,732
Depreciation and Amortization		$	602,583			$	96,776			$	39,370			$	738,729
Purchases of Long-lived Assets		$	1,123,475			$	36,862			$	90,887			$	1,251,224

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- 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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

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