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Medinotec (MDNC0.00%) Inc. has submitted its 10-Q filing for the quarterly period ended November 30, 2024.
The filing reports consolidated revenue of $2,565,048 for the quarter, an increase from $2,002,547 in the same quarter the previous year. For the nine months ended November 30, 2024, revenue was $5,588,445, compared to $2,769,547 in the previous year.
The company's operations are divided into two segments: sales outside the United States and domestic sales. The outside U.S. segment includes both proprietary and third-party distributed products, while the U.S. segment focuses on the Trachealator product.
Cost of goods sold for the quarter was $1,524,272, representing 59% of sales, compared to 57% in the same quarter of the previous year. For the nine months, cost of goods sold was $3,113,979, or 56% of sales, compared to 47% in the previous year.
Operating expenses for the quarter were $513,325, down from $606,009 in the previous year. For the nine months, operating expenses increased to $1,242,098 from $1,116,936.
Net income for the quarter was $310,311, compared to a net loss of $492,371 in the previous year. For the nine months, net income was $682,264, compared to a net loss of $503,248.
The company reported cash provided by operating activities of $779,119 for the nine months, compared to $101,232 in the previous year. Cash used in investing activities was $90,359, while cash used in financing activities was $843,555.
Medinotec's total assets as of November 30, 2024, were $5,362,621, with current assets of $4,920,314. Total liabilities were $2,536,789, with current liabilities of $1,474,968.
The report highlights the company's focus on expanding its U.S. market presence, particularly with the Trachealator product, and notes the submission of the Aortic Dilation Balloon Catheter for FDA clearance.
The filing also discusses the company's liquidity and capital resources, indicating sufficient funds to meet obligations over the next twelve months, with plans for potential additional financing to support growth initiatives.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Medinotec quarterly 10-Q report dated January 14, 2025. To report an error, please email earnings@qz.com.