SEGMENT ANALYSIS (Tables)

12 Months Ended

Oct. 31, 2023

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

Year Ended October 31, 2023

Net Revenues	$	12,119,066		$	7,233,022		$	-		$	19,352,088

Cost of Revenues		2,819,796			3,501,237			-			6,321,033

Gross Profit		9,299,270			3,731,785			-			13,031,055

Research & Development		2,043,890			52,577			-			2,096,467
Selling, General & Administrative		3,109,566			2,463,087			2,622,383			8,195,036

Total Operating Expenses		5,153,456			2,515,664			2,622,383			10,291,503

Income (Loss) from Operations		4,145,814			1,216,121			(2,622,383	)		2,739,552

Other Income (Expense)
Other Income		39,146			-			-			39,146
Interest Income		544,892			97,638			-			642,530

Total Other Income (Expense)		584,038			97,638			-			681,676

Income (Loss) before Income Taxes		4,729,852			1,313,759			(2,622,383	)		3,421,228

Income Tax (Expense) Benefit
Current Tax (Expense) Benefit		(272,126	)		(78,876	)		102,347			(248,655	)
Deferred Tax (Expense) Benefit		(115,954	)		54,382			13,148			(48,424	)

Total Income Tax (Expense) Benefit		(388,080	)		(24,494	)		115,495			(297,079	)

Net Income (Loss)	$	4,341,772		$	1,289,265		$	(2,506,889	)	$	3,124,149

Supplemental Disclosures

Total Assets	$	36,969,673		$	13,604,262		$	1,267,581		$	51,841,516

Total Liabilities	$	2,263,761		$	732,582		$	416,407		$	3,412,750

Revenues from Intercompany Sales - eliminated from sales above	$	4,602,741		$	584,622		$	1,200,000		$	6,387,363

Depreciation and Amortization	$	523,339		$	100,689		$	43,502		$	667,530

Purchases of Long-lived Assets	$	1,996,544		$	25,404		$	108,392		$	2,130,340

CODA OCTOPUS GROUP, INC.

Notes to the Consolidated Financial Statements

October 31, 2023 and 2022

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

Year Ended October 31, 2022

Net Revenues	$	14,724,688		$	7,501,115			-		$	22,225,803

Cost of Revenues		2,941,569			4,093,546			-			7,035,115

Gross Profit		11,783,119			3,407,569			-			15,190,688

Research & Development		2,207,500			30,420			-			2,237,920
Selling, General & Administrative		2,563,554			2,654,565			2,730,585			7,948,704

Total Operating Expenses		4,771,054			2,684,985			2,730,585			10,186,624

Income (Loss) from Operations		7,012,065			722,584			(2,730,585	)		5,004,064

Other Income (Expense)
Other Income		55,715			79,204			3,056			137,975
Interest Expense		(9,233	)		(71	)		(400	)		(9,704	)

Total Other Income (Expense)		46,482			79,133			2,656			128,271

Income (Loss) before Income Taxes		7,058,547			801,717			(2,727,929	)		5,132,335

Income Tax (Expense) Benefit
Current Tax Benefit (Expense)		(868,162	)		39,422			(176,400	)		(1,005,140	)
Deferred Tax (Expense) Benefit		31,907			(41,657	)		183,776			174,026

Total Income Tax (Expense) Benefit		(836,255	)		(2,235	)		7,376			(831,114	)

Net Income (Loss)	$	6,222,292		$	799,482		$	(2,720,553	)	$	4,301,221

Supplemental Disclosures

Total Assets	$	33,348,805		$	12,662,109		$	916,544		$	46,927,458

Total Liabilities	$	2,432,750		$	526,195		$	585,704		$	3,544,649

Revenues from Intercompany Sales - eliminated from sales above	$	2,406,717		$	396,015		$	2,720,000		$	5,522,732

Depreciation and Amortization	$	602,583		$	96,776		$	39,370		$	738,729

Purchases of Long-lived Assets	$	1,123,475		$	36,862		$	90,887		$	1,251,224