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SEGMENT ANALYSIS (Tables)

9 Months Ended

Jul. 31, 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 July 31, 2024
Net Revenues		$	3,048,544			$	2,428,000			$	-			$	5,476,544
Cost of Revenues			521,141				906,865				-				1,428,006
Gross Profit			2,527,403				1,521,135				-				4,048,538
Research & Development			459,879				36,480				-				496,359
Selling, General & Administrative			1,085,495				498,941				576,969				2,161,405
Total Operating Expenses			1,545,374				535,421				576,969				2,657,764
Income (Loss) from Operations			982,029				985,714				(576,969	)			1,390,774
Other Income
Other Income			10,396				67				-				10,463
Interest Income			161,875				44,707				23,427				230,009
Total Other Income			172,271				44,774				23,427				240,472
Income (Loss) before Income Taxes			1,154,300				1,030,488				(553,542	)			1,631,246
Income Tax (Expense)
Current Tax (Expense)			(101,172	)			-				(224,453	)			(325,625	)
Deferred Tax (Expense)			(27,309	)			-				(3,654	)			(30,963	)
Total Income Tax (Expense)			(128,481	)			-				(228,107	)			(356,588	)
Net Income (Loss)		$	1,025,819			$	1,030,488			$	(781,649	)		$	1,274,658
Supplemental Disclosures
Total Assets		$	37,464,861			$	14,827,016			$	3,653,237			$	55,945,114
Total Liabilities		$	1,952,347			$	747,484			$	440,246			$	3,140,077
Intercompany sales that are not included in Net Revenues shown above		$	1,088,573			$	70,284			$	318,000			$	1,476,857
Depreciation and Amortization		$	167,914			$	21,029			$	12,058			$	201,001
Purchases of Long-lived Assets		$	151,526			$	13,414			$	15,082			$	180,022

CODA OCTOPUS GROUP, INC.

Notes to the Consolidated Financial Statements

July 31, 2024 and October 31, 2023

NOTE 12 – SEGMENT ANALYSIS (Continued)

		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			2,848				-				-				2,848
Interest Income			177,615				34,089				-				211,704
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 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
Intercompany sales that are not included in Net Revenues shown 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, 2024 and October 31, 2023

NOTE 12 – SEGMENT ANALYSIS (Continued)

		Marine Technology Business (Products)				Marine Engineering Business (Services)				Overhead				Total
Nine Months Ended July 31, 2024
Net Revenues		$	10,116,024			$	5,144,889			$	-			$	15,260,913
Cost of Revenues			2,192,486				2,194,719				-				4,387,205
Gross Profit			7,923,538				2,950,170				-				10,873,708
Research & Development			1,406,315				118,502				-				1,524,817
Selling, General & Administrative			2,713,704				1,695,875				1,642,771				6,052,350
Total Operating Expenses			4,120,019				1,814,377				1,642,771				7,577,167
Income (Loss) from Operations			3,803,519				1,135,793				(1,642,771	)			3,296,541
Other Income
Other Income			16,086				26,761				-				42,847
Interest Income			499,763				153,583				62,671				716,017
Total Other Income			515,849				180,344				62,671				758,864
Income (Loss) before Income Taxes			4,319,368				1,316,137				(1,580,100	)			4,055,405
Income Tax (Expense)
Current Tax (Expense)			(180,612	)			-				(302,071	)			(482,683	)
Deferred Tax (Expense)			(10,956	)			-				(241,982	)			(252,938	)
Total Income Tax (Expense)			(191,568	)			-				(544,053	)			(735,621	)
Net Income (Loss)		$	4,127,800			$	1,316,137			$	(2,124,153	)		$	3,319,784
Supplemental Disclosures
Total Assets		$	37,464,861			$	14,827,016			$	3,653,237			$	55,945,114
Total Liabilities		$	1,952,347			$	747,484			$	440,246			$	3,140,077
Intercompany sales that are not included in Net Revenues shown above		$	2,512,249			$	185,337			$	948,000			$	3,645,586
Depreciation and Amortization		$	474,248			$	70,730			$	35,877			$	580,855
Purchases of Long-lived Assets		$	437,288			$	16,807			$	85,745			$	539,840

CODA OCTOPUS GROUP, INC.

Notes to the Consolidated Financial Statements

July 31, 2024 and October 31, 2023

NOTE 12 – 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
Other Income			8,532				-				-				8,532
Interest Income			336,858				58,303								395,161
Total Other Income			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 Benefit			-				-				115,158				115,158
Total Income Tax (Expense) Benefit			(166,649	)			(77,517	)			221,769				(22,397	)
Net Income (Loss)		$	4,051,507			$	1,038,662			$	(1,645,055	)		$	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
Intercompany sales that are not included in Net Revenues shown 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

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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