Wed, May 15, 9:35 PM (72 days ago)
Laser Photonics Corporation reported a net loss of $545,709 for Q1 2024, a significant improvement from the $1,257,605 loss in Q1 2023. Revenue increased to $742,991 from $676,192 year-over-year, driven by higher power unit sales and expanded international reach. Gross profit decreased slightly to $385,868 from $406,295 due to higher cost of sales. Operating expenses dropped to $934,338 from $1,305,882, reflecting reduced sales, marketing, and payroll costs. The company's cash and cash equivalents decreased to $5,173,125 from $6,201,137 at the start of the quarter, primarily due to operating losses and investments in equipment. Total assets fell to $13,584,789 from $15,164,447, while total liabilities decreased marginally to $1,635,359. Stockholders' equity dropped to $11,949,430 from $13,481,492, impacted by net losses and distributions to affiliates. The company faces supply chain constraints impacting component availability and logistics. Future performance will depend on capital expenditures by end-users in various industries, including automotive and aerospace. Management plans to continue investing in R&D to maintain technological leadership.