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SEGMENT AND GEOGRAPHIC INFORMATION | 12 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
SEGMENT AND GEOGRAPHIC INFORMATION | NOTE 3 – SEGMENT AND GEOGRAPHIC INFORMATION The Company’s reporting segments consist of Security and Industrial Services. Additionally, the Company’s operational structure also reports unallocated corporate expenses. All intersegment transactions have been eliminated and values are presented net of eliminations. Operating segments The Company determines its reporting units in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 280, Segment Reporting. The Company evaluates a reporting unit by first identifying its operating segments under ASC 280. The Company operates as two operating segments and unallocated corporate expenses which is reported in a manner consistent with the internal reporting provided to the chief operating decision-maker. The chief operating decision-maker is responsible for the allocation of resources and assessing the performance of the operating segment and has been identified as Saagar Govil, the CEO of the Company. Unallocated corporate expenses mainly relate to payroll and benefits for corporate officers, investor relation expenses, accounting expenses related audit and taxes, legal expenses related to corporate matters, consulting expenses related to accounting and corporate matters, and interest expense on notes payable. Security Cemtrex’s Security segment operates under the Vicon brand that deliver cutting-edge software and hardware technologies: Vicon Industries, a majority owned subsidiary, provides end-to-end security solutions to meet the toughest corporate, industrial and governmental security challenges. Vicon’s products include browser-based video monitoring systems and analytics-based recognition systems, cameras, servers, and access control systems for every aspect of security and surveillance in industrial and commercial facilities, federal prisons, hospitals, universities, schools, and federal and state government offices. Vicon provides cutting edge, mission critical security and video surveillance solutions utilizing Artificial Intelligence (AI) based data algorithms. Industrial Services Cemtrex’s Industrial Services segment operates through the brand, Advanced Industrial Services (“AIS”), that offers single-source expertise and services for rigging, millwrighting, in plant maintenance, equipment erection, relocation, and disassembly to diversified customers. We install high precision equipment in a wide variety of industrial markets like automotive, printing and graphics, industrial automation, packaging, and chemicals among others. We are a leading provider of reliability-driven maintenance and contracting solutions for the machinery, packaging, printing, chemical, and other manufacturing markets. The focus is on customers seeking to achieve greater asset utilization and reliability to cut costs and increase production from existing assets, including small projects, sustaining capital, turnarounds, maintenance, specialty welding services, and high-quality scaffolding. The following tables summarize the Company’s segment information. SCHEDULE OF SEGMENT INFORMATION
|  | Security |  |  | Industrial Services |  |  | Corporate |  |  | Consolidated |  |  | Security |  |  | Industrial Services |  |  | Corporate |  |  | Consolidated |
|  | For the year ended September 30, 2024 |  |  | For the year ended September 30, 2023 |
|  | Reportable Segments |  |  |  |  |  |  |  |  | Reportable Segments |  |  |  |  |  |  |
|  | Security |  |  | Industrial Services |  |  | Corporate |  |  | Consolidated |  |  | Security |  |  | Industrial Services |  |  | Corporate |  |  | Consolidated |
Revenues |  | $ | 32,021,899 |  |  | $ | 34,841,985 |  |  | $ | - |  |  | $ | 66,863,884 |  |  | $ | 34,359,470 |  |  | $ | 25,009,092 |  |  | $ | - |  |  | $ | 59,368,562 |
Cost of revenues |  |  | 15,854,560 |  |  |  | 23,531,120 |  |  |  | - |  |  |  | 39,385,680 |  |  |  | 17,253,170 |  |  |  | 16,429,566 |  |  |  | - |  |  |  | 33,682,736 |
Gross profit |  | $ | 16,167,339 |  |  | $ | 11,310,865 |  |  | $ | - |  |  | $ | 27,478,204 |  |  | $ | 17,106,300 |  |  | $ | 8,579,526 |  |  | $ | - |  |  | $ | 25,685,826 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General, and administrative |  |  | 16,073,558 |  |  |  | 7,074,828 |  |  |  | 4,436,787 |  |  |  | 27,585,173 |  |  |  | 14,422,950 |  |  |  | 4,755,998 |  |  |  | 3,724,317 |  |  |  | 22,903,265 |
Depreciation and amortization |  |  | 329,294 |  |  |  | 945,552 |  |  |  | - |  |  |  | 1,274,846 |  |  |  | 254,392 |  |  |  | 719,404 |  |  |  | 52,279 |  |  |  | 1,026,075 |
Research and development |  |  | 3,357,455 |  |  |  | - |  |  |  | - |  |  |  | 3,357,455 |  |  |  | 3,267,994 |  |  |  | - |  |  |  | - |  |  |  | 3,267,994 |
Goodwill Impairment |  |  | 530,475 |  |  |  | - |  |  |  | - |  |  |  | 530,475 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Operating (loss)/income |  | $ | (4,123,443 | ) |  | $ | 3,290,485 |  |  | $ | (4,436,787 | ) |  | $ | (5,269,745 | ) |  | $ | (839,036 | ) |  | $ | 3,104,124 |  |  | $ | (3,776,596 | ) |  | $ | (1,511,508 | )
Other (expense)/income |  | $ | (492,330 | ) |  | $ | (295,157 | ) |  | $ | (1,419,117 | ) |  | $ | (2,206,604 | ) |  | $ | 113,846 |  |  | $ | (166,369 | ) |  | $ | (4,437,082 | ) |  | $ | (4,489,605 | )
|  | September 30, |  |  | September 30, |
|  | 2024 |  |  | 2023 |
Identifiable Assets |  |  |  |  |  |  |  |
Security |  | $ | 17,253,328 |  |  | $ | 21,829,183 |
Industrial Services |  |  | 24,576,055 |  |  |  | 23,781,349 |
Corporate |  |  | 2,286,075 |  |  |  | 2,843,211 |
Total Assets |  | $ | 44,115,458 |  |  | $ | 48,453,743 |
The Company generates revenue from product sales and services from its subsidiaries located in the United States, the United Kingdom, and India. Revenue and long-lived asset information for the Company is as follows. SCHEDULE OF REVENUE FROM PRODUCT SALES AND SERVICES FROM ITS SUBSIDIARIES
|  | For the year ended |
|  | September 30, |  |  | September 30, |
Revenues |  | 2024 |  |  | 2023 |
United States |  | $ | 62,921,388 |  |  | $ | 53,905,149 |
United Kingdom |  |  | 3,251,130 |  |  |  | 3,301,682 |
India |  |  | 691,366 |  |  |  | 2,161,731 |
|  | $ | 66,863,884 |  |  | $ | 59,368,562 |
|  | September 30, |  |  | September 30, |
Long-lived Assets |  | 2023 |  |  | 2023 |
United States |  | $ | 14,253,674 |  |  | $ | 15,420,489 |
United Kingdom |  |  | 218,346 |  |  |  | 328,819 |
India |  |  | 303,283 |  |  |  | 138,907 |
|  | $ | 14,775,303 |  |  | $ | 15,888,215 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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