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SEGMENT ANALYSIS (Tables)

6 Months Ended

Apr. 30, 2024

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 April 30, 2024
Net Revenues		$	3,524,714			$	1,798,464			$	-			$	5,323,178
Cost of Revenues			697,464				887,280				-				1,584,744
Gross Profit			2,827,250				911,184				-				3,738,434
Research & Development			485,061				57,420				-				542,481
Selling, General & Administrative			792,820				596,451				456,299				1,845,570
Total Operating Expenses			1,277,881				653,871				456,299				2,388,051
Income (Loss) from Operations			1,549,369				257,313				(456,299	)			1,350,383
Other Income
Other (Expense) Income			(14,616	)			11,980				-				(2,636	)
Interest Income			202,157				52,067				39,244				293,468
Total Other Income			187,541				64,047				39,244				290,832
Income (Loss) before Income Taxes			1,736,910				321,360				(417,055	)			1,641,215
Income Tax (Expense) Benefit
Current Tax (Expense)			(43,900	)			-				(147,173	)			(191,073	)
Deferred Tax (Expense)			(10,975	)			-				(23,929	)			(34,904	)
Total Income Tax (Expense)			(54,875	)			-				(171,102	)			(225,977	)
Net Income (Loss)		$	1,682,035			$	321,360			$	(588,157	)		$	1,415,238
Supplemental Disclosures
Total Assets		$	37,040,637			$	13,945,102			$	3,011,417			$	53,997,156
Total Liabilities		$	1,807,318			$	912,679			$	210,789			$	2,930,786
Revenues from Intercompany Sales - eliminated from sales above		$	474,742			$	104,263			$	318,000			$	897,005
Depreciation and Amortization		$	158,112			$	24,343			$	11,658			$	194,113
Purchases of Long-lived Assets		$	153,339			$	1,185			$	42,818			$	197,342

CODA OCTOPUS GROUP, INC.

Notes to the Consolidated Financial Statements

April 30, 2024 and October 31, 2023

NOTE 12 – SEGMENT ANALYSIS (Continued)

		Marine Technology Business (Products)				Marine Engineering Business (Services)				Overhead				Total
Three Months Ended April 30, 2023
Net Revenues		$	3,583,429			$	1,718,080			$	-			$	5,301,509
Cost of Revenues			885,382				792,886				-				1,678,268
Gross Profit			2,698,047				925,194				-				3,623,241
Research & Development			518,405				7,534				-				525,939
Selling, General & Administrative			877,961				655,739				708,494				2,242,194
Total Operating Expenses			1,396,366				663,273				708,494				2,768,133
Income (Loss) from Operations			1,301,681				261,921				(708,494	)			855,108
Other Income
Other Income			2,780				-				-				2,780
Interest Income			147,127				23,469				-				170,596
Total Other Income			149,907				23,469				-				173,376
Income (Loss) before Income Taxes			1,451,588				285,390				(708,494	)			1,028,484
Income Tax (Expense) Benefit
Current Tax (Expense) Benefit			(108,712	)			(2,185	)			42,124				(68,773	)
Deferred Tax Benefit			-				-				48,766				48,766
Total Income Tax (Expense) Benefit			(108,712	)			(2,185	)			90,890				(20,007	)
Net Income (Loss)		$	1,342,876			$	283,205			$	(617,604	)		$	1,008,477
Supplemental Disclosures
Total Assets		$	36,187,625			$	13,618,065			$	1,097,772			$	50,903,462
Total Liabilities		$	1,665,630			$	802,459			$	124,632			$	2,592,721
Revenues from Intercompany Sales - eliminated from sales above		$	2,084,321			$	169,811			$	(80,000	)		$	2,174,132
Depreciation and Amortization		$	143,565			$	24,757			$	10,441			$	178,763
Purchases of Long-lived Assets		$	64,191			$	18,012			$	36,246			$	118,448

CODA OCTOPUS GROUP, INC.

Notes to the Consolidated Financial Statements

April 30, 2024 and October 31, 2023

NOTE 12 – SEGMENT ANALYSIS (Continued)

		Marine Technology Business (Products)				Marine Engineering Business (Services)				Overhead				Total
Six Months Ended April 30, 2024
Net Revenues		$	7,067,480			$	2,716,889			$	-			$	9,784,369
Cost of Revenues			1,671,344				1,287,855				-				2,959,199
Gross Profit			5,396,136				1,429,034				-				6,825,170
Research & Development			946,436				82,022				-				1,028,458
Selling, General & Administrative			1,628,211				1,196,935				1,065,799				3,890,945
Total Operating Expenses			2,574,647				1,278,957				1,065,799				4,919,403
Income (Loss) from Operations			2,821,489				150,077				(1,065,799	)			1,905,767
Other Income
Other Income			5,690				26,694				-				32,384
Interest Income			337,888				108,876				39,244				486,008
Total Other Income			343,578				135,570				39,244				518,392
Income (Loss) before Income Taxes			3,165,067				285,647				(1,026,555	)			2,424,159
Income Tax (Expense) Benefit
Current Tax (Expense)			(79,440	)			-				(77,618	)			(157,058	)
Deferred Tax Benefit (Expense)			16,353				-				(238,328	)			(221,975	)
Total Income Tax (Expense) Benefit			(63,087	)			-				(315,946	)			(379,033	)
Net Income (Loss)		$	3,101,980			$	285,647			$	(1,342,501	)		$	2,045,126
Supplemental Disclosures
Total Assets		$	37,040,637			$	13,945,102			$	3,011,417			$	53,997,156
Total Liabilities		$	1,807,318			$	912,679			$	210,789			$	2,930,786
Revenues from Intercompany Sales - eliminated from sales above		$	1,423,676			$	115,053			$	630,000			$	2,168,729
Depreciation and Amortization		$	311,131			$	49,700			$	23,820			$	384,651
Purchases of Long-lived Assets		$	285,762			$	3,393			$	70,663			$	359,818

CODA OCTOPUS GROUP, INC.

Notes to the Consolidated Financial Statements

April 30, 2024 and October 31, 2023

NOTE 12 – SEGMENT ANALYSIS (Continued)

		Marine Technology Business (Products)				Marine Engineering Business (Services)				Overhead				Total
Six Months Ended April 30, 2023
Net Revenues		$	7,407,588			$	3,490,205			$	-			$	10,897,793
Cost of Revenues			1,949,626				1,571,921				-				3,521,547
Gross Profit			5,457,962				1,918,284				-				7,376,246
Research & Development			956,713				13,684								970,397
Selling, General & Administrative			1,539,720				1,302,049				1,362,876				4,204,645
Total Operating Expenses			2,496,433				1,315,733				1,362,876				5,175,042
Income (Loss) from Operations			2,961,529				602,551				(1,362,876	)			2,201,204
Other Income
Other Income			5,684				-				-				5,684
Interest Income			159,243				24,214				-				183,457
Total Other Income			164,927				24,214				-				189,141
Income (Loss) before Income Taxes			3,126,456				626,765				(1,362,876	)			2,390,345
Income Tax (Expense) Benefit
Current Tax (Expense) Benefit			(127,585	)			(22,041	)			80,842				(68,784	)
Deferred Tax Benefit			-				-				84,773				84,773
Total Income Tax (Expense) Benefit			(127,585	)			(22,041	)			165,615				15,989
Net Income (Loss)		$	2,998,871			$	604,724			$	(1,197,261	)		$	2,406,334
Supplemental Disclosures
Total Assets		$	36,187,625			$	13,618,065			$	1,097,772			$	50,903,462
Total Liabilities		$	1,665,630			$	802,459			$	124,632			$	2,592,721
Revenues from Intercompany Sales - eliminated from sales above		$	2,913,995			$	215,518			$	600,000			$	3,729,513
Depreciation and Amortization		$	272,403			$	49,667			$	20,700			$	342,770
Purchases of Long-lived Assets		$	143,833			$	22,792			$	57,731			$	224,355

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.

+ References

Reference 1: 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 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: 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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- References

No definition available.

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