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Encision Inc. (ECIA) has submitted its Form 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing a net product revenue of $1,457,402, a decrease from $1,561,103 in the same quarter the previous year. The decrease is attributed to a reduction in sales of disposable products.
Net service revenue for the quarter was $128,179, up from $20,461 in the previous year, primarily due to services performed under a Master Services Agreement with Vicarious Surgical Inc.
Gross profit for the quarter was $850,290, an increase from $727,239 in the previous year, attributed to a price increase and higher operating efficiencies.
Sales and marketing expenses decreased to $377,153 from $413,992, due to reduced sales commissions during the period.
General and administrative expenses increased slightly to $355,200 from $351,569, while research and development expenses decreased to $138,804 from $151,077, due to a reduction in staff.
The company reported a net loss of $24,668 for the quarter, a decrease from a net loss of $207,130 in the previous year, primarily due to an increase in gross margin.
For the nine months ended December 31, 2024, net product revenue was $4,703,181, down from $4,927,069 in the previous year, while net service revenue increased to $268,718 from $134,269.
Gross profit for the nine months was $2,621,434, up from $2,452,573, with a gross margin increase attributed to a price increase and higher operating efficiencies.
The filing also details the company's liquidity and capital resources, noting $347,919 in cash as of December 31, 2024, an increase from $42,509 at the end of March 2024, primarily due to cash generated by operating activities and borrowings.
Encision Inc. continues to focus on increasing new accounts, retaining existing customers, and growing revenue, while investing in research and development for next-generation products.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Encision Inc. quarterly 10-Q report dated February 14, 2025. To report an error, please email earnings@qz.com.