SEGMENT ANALYSIS (Tables)

3 Months Ended

Jan. 31, 2022

	Marine Technology Business (Products)			Marine Engineering Business (Services)			Overhead			Total

Three Months Ended January 31, 2022

Net Revenues	$	3,823,748		$	2,014,460		$	-		$	5,838,208

Cost of Revenues		572,292			1,105,982			-			1,678,274

Gross Profit		3,251,456			908,478			-			4,159,934

Research & Development		529,375			143,515			-			672,890
Selling, General & Administrative		753,614			651,149			706,349			2,111,112

Total Operating Expenses		1,282,989			794,664			706,349			2,784,002

Income (Loss) from Operations		1,968,467			113,814			(706,349	)		1,375,932

Other Income (Expense)
Other Income		9,049			70,945			-			79,994
Interest Expense		(4,882	)		(5,026	)		(1,370	)		(11,278	)

Total Other Income (Expense)		4,167			65,919			(1,370	)		68,716

Income (Loss) before Income Taxes		1,972,634			179,733			(707,719	)		1,444,648

Income Tax (Expense) Benefit
Current Tax (Expense) Benefit		(266,520	)		24,036			(43,125	)		(285,609	)
Deferred Tax Benefit		6,708			204			51,297			58,209

Total Income Tax (Expense) Benefit		(259,812	)		24,240			8,172			(227,400	)

Net Income (Loss)	$	1,712,822		$	203,973		$	(699,547	)	$	1,217,248

Supplemental Disclosures

Total Assets	$	30,847,114		$	13,893,382		$	658,735		$	45,399,231

Total Liabilities	$	1,635,666		$	501,339		$	429,580		$	2,566,585

Revenues from Intercompany Sales - eliminated from sales above	$	389,395		$	115,823		$	600,000		$	1,105,218

Depreciation and Amortization	$	135,658		$	16,657		$	9,151		$	161,466

Purchases of Long-lived Assets	$	986,093		$	1,000		$	14,871		$	1,001,964

CODA OCTOPUS GROUP, INC.

Notes to the Consolidated Financial Statements

January 31, 2022 and October 31, 2021

NOTE 14 -SEGMENT ANALYSIS (Continued)

	Marine Technology Business (Products)			Marine Engineering Business (Services)			Overhead			Total

Three Months Ended January 31, 2021

Net Revenues	$	3,748,279		$	1,302,180		$	-		$	5,050,459

Cost of Revenues		894,275			841,262			-			1,735,537

Gross Profit		2,854,004			460,918			-			3,314,922

Research & Development		441,744			141,395			-			583,139
Selling, General & Administrative		733,825			567,559			511,982			1,813,366

Total Operating Expenses		1,175,569			708,954			511,982			2,396,505

Income (Loss) from Operations		1,678,435			(248,036	)		(511,982	)		918,417

Other Income (Expense)
Other Income		2,036			18			-			92,025
Interest Expense		(2,253	)		(5,151	)		(7,110	)		(14,514	)

Total Other Income (Expense)		(217	)		(5,133	)		(7,110	)		77,511

Income (Loss) before Income Taxes		1,678,218			(253,169	)		(519,092	)		995,928

Income Tax (Expense) Benefit
Current Tax (Expense) Benefit		12,653			-			12,072			24,725
Deferred Tax (Expense) Benefit		(11,155	)		152,086			(32,740	)		108,191

Total Income Tax (Expense) Benefit		1,498			152,086			(20,668	)		132,916

Net Income (Loss)	$	1,679,716		$	(101,083	)	$	(539,760	)	$	1,128,844

Supplemental Disclosures

Total Assets	$	24,767,757		$	14,362,811		$	1,224,954		$	40,355,522

Total Liabilities	$	1,573,260		$	1,436,624		$	720,466		$	3,730,350

Revenues from Intercompany Sales - eliminated from sales above	$	370,629		$	49,201		$	675,000		$	1,094,830

Depreciation and Amortization	$	312,122		$	47,645		$	6,416		$	366,183

Purchases of Long-lived Assets	$	399,975		$	4,177		$	4,992		$	409,144