Mon, Jul 15, 8:16 PM (54 days ago)
Encision Inc.'s Form 10-K for the fiscal year ended March 31, 2024, highlights a decrease in net revenue and increased net loss compared to the previous fiscal year. Key financial metrics include: - **Net Revenue**: $6,585,882 (down 10% from $7,348,514 in FY23). - **Net Loss**: $691,783 (up 114% from $323,945 in FY23). - **Gross Profit**: $3,135,962 (down 22% from $4,032,533 in FY23). - **Operating Expenses**: $3,776,745 (down 13% from $4,335,330 in FY23). - **Earnings Per Share**: $(0.06) (compared to $(0.03) in FY23). Operating highlights include a strategic focus on expanding market share for their AEM technology, which enhances patient safety during minimally invasive surgeries. The company faces risks from competitive pressures, regulatory compliance, and the need for additional funding. Future outlook involves increasing sales, improving gross margins, and expanding product lines. The company also reported a material weakness in internal controls over financial reporting.