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SEGMENT ANALYSIS (Tables) | 12 Months Ended
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Oct. 31, 2024
Segment Reporting [Abstract] |
SCHEDULE OF SEGMENT REPORTING INFORMATION | SCHEDULE OF SEGMENT REPORTING INFORMATION
|  | Products |  |  | Services |  |  | Overhead |  |  | Total |
Year Ended October 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Revenues |  | $ | 12,806,603 |  |  | $ | 7,509,558 |  |  | $ | - |  |  | $ | 20,316,161 |
Cost of Revenues |  |  | 2,824,541 |  |  |  | 3,318,515 |  |  |  | - |  |  |  | 6,143,056 |
Gross Profit |  |  | 9,982,062 |  |  |  | 4,191,043 |  |  |  | - |  |  |  | 14,173,105 |
Research & Development |  |  | 2,019,112 |  |  |  | 223,317 |  |  |  | - |  |  |  | 2,242,429 |
Selling, General & Administrative |  |  | 3,814,860 |  |  |  | 2,248,493 |  |  |  | 2,283,192 |  |  |  | 8,346,545 |
Total Operating Expenses |  |  | 5,833,972 |  |  |  | 2,471,810 |  |  |  | 2,283,192 |  |  |  | 10,588,974 |
Income (Loss) from Operations |  |  | 4,148,090 |  |  |  | 1,719,233 |  |  |  | (2,283,192 | ) |  |  | 3,584,131 |
Other Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Income |  |  | 53,960 |  |  |  | 34,422 |  |  |  | - |  |  |  | 88,382 |
Interest Income |  |  | 657,817 |  |  |  | 198,239 |  |  |  | 82,719 |  |  |  | 938,775 |
Total Other Income |  |  | 711,777 |  |  |  | 232,661 |  |  |  | 82,719 |  |  |  | 1,027,157 |
Income (Loss) before Income Taxes |  |  | 4,859,867 |  |  |  | 1,951,894 |  |  |  | (2,200,473 | ) |  |  | 4,611,288 |
Income Tax Expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Tax Expense |  |  | 316,955 |  |  |  | 169,374 |  |  |  | 227,341 |  |  |  | 713,670 |
Deferred Tax Expense (Benefit) |  |  | (5,655 | ) |  |  | 19,169 |  |  |  | 238,108 |  |  |  | 251,622 |
Total Income Tax Expense |  |  | 311,300 |  |  |  | 188,543 |  |  |  | 465,449 |  |  |  | 965,292 |
Net Income (Loss) |  | $ | 4,548,567 |  |  | $ | 1,763,351 |  |  | $ | (2,665,922 | ) |  | $ | 3,645,996 |
Supplemental Disclosures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
*Total Assets |  | $ | 40,922,453 |  |  | $ | 13,404,567 |  |  | $ | 3,217,524 |  |  | $ | 57,544,544 |
*Total Liabilities |  | $ | 3,072,876 |  |  | $ | 842,450 |  |  | $ | 500,695 |  |  | $ | 4,416,021 |
Revenues from Intercompany Sales - eliminated from sales above |  | $ | 3,367,839 |  |  | $ | 238,143 |  |  | $ | 1,266,000 |  |  | $ | 4,871,982 |
Depreciation and Amortization |  | $ | 632,882 |  |  | $ | 88,166 |  |  | $ | 49,487 |  |  | $ | 770,535 |
Purchases of Long-lived Assets |  | $ | 345,191 |  |  | $ | 23,786 |  |  | $ | 89,103 |  |  | $ | 458,079 |
* | The Total Assets and Total Liabilities included in the Supplemental Disclosures include PAL
CODA OCTOPUS GROUP, INC. Notes to the Consolidated Financial Statements October 31, 2024 and 2023
|  | Products |  |  | 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 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Income |  |  | 39,146 |  |  |  | - |  |  |  | - |  |  |  | 39,146 |
Interest Income |  |  | 544,892 |  |  |  | 97,638 |  |  |  | - |  |  |  | 642,530 |
Total Other Income |  |  | 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 |  |  | $ | (2,506,888 | ) |  | $ | 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 |

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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 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 + Details
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