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Cleartronic Inc (CLRI0.00%) has submitted its 10-K filing for the fiscal year ended September 30, 2024.
The filing details an increase in revenue to $3,126,148, up from $2,131,955 in the previous year. This increase is attributed to higher sales from the ReadyOp platform and an increase in hardware sales.
Cost of revenue increased to $866,402, resulting in a gross profit of $2,259,746 compared to $1,696,426 in the previous year. Gross profit margins decreased to 72.29% from 79.57%.
Operating expenses rose to $2,560,333, primarily due to increased administrative and research and development expenses. Administrative expenses increased by $770,159, and research and development expenses rose to $189,022.
The company reported a net loss attributable to common stockholders of $313,273, compared to a net income of $15,518 in the previous year. The loss was influenced by increased operating expenses and a write-off of related party receivables.
Cash provided by operating activities was $414,901, while cash used in investing activities was $82,135. The company ended the fiscal year with $849,727 in cash and cash equivalents.
Cleartronic's balance sheet shows total assets of $1,299,289 and total liabilities of $1,501,720, resulting in a stockholders' deficit of $202,431.
The filing also discusses the company's efforts to obtain FedRAMP certification to expand its ReadyOp platform usage among federal agencies.
Cleartronic faces competition in the unified communications industry and continues to develop its ReadyOp and ReadyMed platforms to improve market position.
The company acknowledges potential risks associated with rapid technological changes and reliance on key personnel for future success.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Cleartronic Inc annual 10-K report dated March 21, 2025. To report an error, please email earnings@qz.com.