Coda Octopus Group, Inc.

Listed Company

CODACIK 0001334325NasdaqNon-AcceleratedSmaller ReportingSearch, Detection, Navigation, Guidance, Aeronautical SysDelawareFY ends Oct 31

Period

FY 2025

Revenue

$26.56M

Net Income

$4.13M

Total Assets

$64.49M

Equity

$58.12M

Shares Out

11.28M

Op. Cash Flow

$7.21M

Business

Coda Octopus Group, Inc. develops and supplies proprietary marine technology and delivers engineering services for commercial and defense underwater markets. Its main offerings include real-time volumetric imaging sonars (Echoscope and Echoscope PIPE), the Diver Augmented Vision Display (DAVD) HUD, geophysical acquisition and processing hardware and software, inertial/GNSS navigation systems, acoustic measurement products from Precision Acoustics, and custom engineered sub-assemblies. The business operates two segments: the Marine Technology (Products) segment, now including PAL, and the Marine Engineering (Services) segment (Colmek and Martech). The Company sells, rents and supports products globally to navies, offshore renewables, oil & gas, surveyors, salvage, ports, robotics, research organizations and other end users through direct sales, agents, demonstrations and industry events.

Summary from filing dated 2025-01-29

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
Net Revenues	27	20	19	22	21
Cost of Revenues	9	6	6	7	7
Gross Profit	18	14	13	15	15
Research & Development	2	2	2	2	3
Selling, General & Administrative	11	8	8	8	8
Total Operating Expenses	13	11	10	10	11
INCOME FROM OPERATIONS	5	4	3	5	4
Other Income	268,092	88,382	—	—	—
Interest Income	708,097	938,775	642,530	—	—
Total Other Income	976,189	1	681,676	128,271	1
INCOME BEFORE INCOME TAX EXPENSE	6	5	3	5	5
Current Tax Expense	1	713,670	248,655	−1	−16,592
Deferred Tax Expense	232,472	251,622	48,424	174,026	−288,887
Total Income Tax Expense	1	965,292	297,079	−831,114	−305,479
NET INCOME	4	4	3	4	5
Basic (per share)	0.37	0.33	0.28	0.4	0.46
Diluted (per share)	0.37	0.32	0.28	0.38	0.44
Basic (shares)	11	11	11	11	11
Diluted (shares)	11	11	11	11	11
Foreign Currency Translation Adjustment	632,174	931,718	—	—	—
Total Other Comprehensive Income	632,174	931,718	—	—	—
COMPREHENSIVE INCOME	5	5	4	1	6

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
Cash and Cash Equivalents	29	22	24	23	18
Accounts Receivable, net	4	3	3	3	4
Inventory	14	14	12	10	11
Unbilled Receivables	3	2	894,251	602,115	1
Prepaid Expenses	434,021	537,289	181,383	240,464	1
Other Current Assets	531,469	838,835	1	343,061	627,619
Total Current Assets	50	43	41	37	36
Property and Equipment, net	7	7	7	—	—
Right of Use Asset, net	372,647	413,171	—	—	—
Total Fixed Assets	8	7	7	6	6
Goodwill	4	4	3	3	—
Intangible Assets, net	3	4	486,615	442,286	—
Total Other Assets	7	7	4	—	—
Total Assets	64	58	52	47	45
Accounts Payable	1	1	1	793,247	1
Current portion of operating lease liabilities	34,862	32,298	—	—	—
Accrued Expenses and Other Current Liabilities	2	2	995,630	2	740,449
Deferred Revenue	2	1	975,537	943,569	2
Total Current Liabilities	6	4	3	3	4
Deferred Tax Liability, net	317,949	82,011	—	—	—
Non-current operating lease liabilities	360,070	380,873	—	—	—
Deferred Revenue, less current portion	59,080	56,121	133,382	76,127	157,886
Total Long Term Liabilities	737,099	519,005	133,382	76,127	157,886
Total Liabilities	6	4	3	4	4
Commitments and contingencies	—	—	—	—	—
Common Stock, $.001 par value; 150,000,000 shares authorized, 11,270,575 issued and outstanding as of October 31, 2025 and 11,195,487 shares issued and outstanding as of October 31, 2024	11,271	11,195	11,118	10,918	10,858
Preferred Stock $.001 par value; 5,000,000 shares authorized, zero issued and outstanding as of October 31, 2025 and 2024	—	—	—	—	—
Treasury Stock	−61,933	−61,933	−46,300	−28,337	—
Additional Paid-in Capital	63	63	63	62	—
Accumulated Other Comprehensive Loss	−2	−3	−3	−5	−2
Accumulated Deficit	−3	−7	−11	−14	−18
Total Stockholders Equity	58	53	48	43	41
Total Liabilities and Stockholders Equity	64	58	52	47	45

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
Depreciation of property and equipment	861,292	710,059	603,467	678,652	924,073
Amortization of intangible assets	530,218	60,476	—	—	—
Stock-based compensation	224,786	137,676	645,196	1	1
Deferred income taxes	232,472	251,622	48,726	−193,083	485,126
Gain on sale of asset	—	−33,907	—	—	—
Earn Out provision	213,343	—	—	—	—
Allowance for credit loss	89,456	119,405	—	—	—
Accounts receivable	−242,369	−506,120	291,873	992,948	−2
Inventory	625,090	−707,897	−1	−675,878	−1
Unbilled receivables	−1	−758,537	−281,981	447,927	−219,084
Prepaid expenses	111,296	−284,041	68,836	165,010	−913,123
Other current assets	335,972	73,234	−330,516	275,909	−383,449
Accounts payable and other current liabilities	957,310	93,685	−613,239	533,996	326,761
Deferred revenue	464,176	−349,976	56,410	−990,729	956,251
Net Cash provided by Operating Activities	7	2	2	7	3
Purchases of property and equipment	−1	−502,525	−2	−466,471	−850,894
Purchases of other intangible assets	−25,351	−89,103	−108,392	−90,089	−113,310
Acquisitions, net of acquired cash	—	−5	—	—	—
Proceeds from the sale of property and equipment	—	775,821	609,565	—	—
Net Cash Used in Investing Activities	−1	−4	−2	−556,560	−964,204
Purchase of treasury stock	—	−15,633	−17,963	—	—
Net Cash Used in Financing Activities	—	−15,633	−17,963	−91,896	139,323
EFFECT OF CURRENCY TRANSLATION ON CHANGES IN CASH AND CASH EQUIVALENTS	188,444	15,281	670,332	—	—
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	6	−2	2	5	3
Cash paid for taxes	415,221	363,374	1	74,432	—

Filings

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