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PCS Edventures.com Inc. (PCSV-7.99%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing revenue of $701,147, an increase from $459,087 in the same quarter the previous year. The increase is partially attributed to deferred revenue recognition and improved fulfillment efficiency.
Cost of sales for the quarter was $348,660, representing 49.7% of revenue, compared to 67.7% in the same quarter of the previous year. The company aims to maintain cost of sales below 40% of revenue annually.
Salaries and wages for the quarter were $436,150, up from $353,934 in the previous year, reflecting an increase in the number of employees.
General and administrative expenses increased to $375,081 from $231,475, primarily due to new facility lease expenses.
Net loss before taxes for the quarter was $433,824, compared to a net loss of $414,138 in the previous year.
Cash provided by operating activities was $2,727,089 for the nine months ended December 31, 2024, compared to $1,644,990 in the previous year. This increase was largely due to a significant decrease in accounts receivable.
Cash used in investing activities was $76,725, primarily for warehouse equipment purchases, while cash used in financing activities was $390,020, related to the repurchase of common stock.
As of December 31, 2024, PCS Edventures had $3,590,051 in cash and cash equivalents, with no debt.
The company reports significant net operating losses available to offset future taxable income, with a deferred tax asset fully recognized as of March 31, 2024.
PCS Edventures continues to focus on developing STEM education products and expanding its customer base, including efforts to secure larger customer contracts.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the PCS Edventures.com Inc. quarterly 10-Q report dated February 14, 2025. To report an error, please email earnings@qz.com.