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Callan JMB Inc. (CJMB+3.66%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details a reorganization where Callan JMB Inc. became a holding company for Coldchain Technology Services LLC. The reorganization involved exchanging membership interests for shares of Callan JMB's common stock.
The company's revenue for the year was $6,563,412, a decrease from $13,202,459 in the previous year. This decline was attributed to a decrease in demand for emergency preparedness services and a temporary suspension of orders from a significant customer.
Cost of revenue decreased to $4,000,149 from $7,553,338, primarily due to the decrease in revenue.
Selling, general, and administrative expenses increased to $4,838,077 from $3,447,058, driven by increased personnel costs and professional fees related to the company's transition to a corporation and preparation for an initial public offering.
The company reported a net loss of $2,293,648 for the year, compared to a net income of $2,181,108 in the previous year.
Cash provided by operating activities was $540,353, a decline from $6,995,646 in the previous year, reflecting the decrease in net income and changes in working capital.
The company made capital expenditures of $46,167 during the year, down from $490,020 in the previous year.
Callan JMB Inc. completed an initial public offering in February 2025, raising approximately $5.7 million in gross proceeds.
The filing also notes a settlement of $240,800 with a vendor over a contractual dispute, which was paid in February 2025.
Callan JMB Inc. highlights its strategy to leverage core strengths to maintain customer relationships and expand service lines, focusing on providing logistics solutions to the life sciences industry.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Callan JMB Inc. annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.