SEGMENT ANALYSIS (Tables)

3 Months Ended

Jan. 31, 2024

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

Three Months Ended January 31, 2024

Net Revenues	$	3,542,766		$	918,425		$	-		$	4,461,191

Cost of Revenues		973,880			400,575			-			1,374,455

Gross Profit		2,568,886			517,850			-			3,086,736

Research & Development		461,375			24,602			-			485,977
Selling, General & Administrative		835,391			600,484			609,500			2,045,375

Total Operating Expenses		1,296,766			625,086			609,500			2,531,352

Income (Loss) from Operations		1,272,120			(107,236	)		(609,500	)		555,384

Other Income
Other Income		20,306			14,714			-			35,020
Interest Income		135,731			56,809			-			192,540

Total Other Income		156,037			71,523			-			227,560

Income (Loss) before Income Taxes		1,428,157			(35,713	)		(609,500	)		782,944

Income Tax (Expense) Benefit
Current Tax (Expense) Benefit		(35,540	)		-			69,555			34,015
Deferred Tax (Expense) Benefit		27,328			-			(214,399	)		(187,071	)

Total Income Tax (Expense) Benefit		(8,212	)		-			(144,844	)		(153,056	)

Net Income (Loss)	$	1,419,945		$	(35,713	)	$	(754,344	)	$	629,888

Supplemental Disclosures

Total Assets	$	36,685,343		$	13,298,356		$	3,029,244		$	53,012,943

Total Liabilities	$	1,963,391		$	429,635		$	470,239		$	2,863,265

Revenues from Intercompany Sales – eliminated from sales above	$	948,934		$	10,790		$	312,000		$	1,271,724

Depreciation and Amortization	$	153,019		$	25,357		$	12,162		$	190,538

Purchases of Long-lived Assets	$	132,423		$	2,208		$	27,845		$	162,476

CODA OCTOPUS GROUP, INC.

Notes to the Consolidated Financial Statements

January 31, 2024 and October 31, 2023

NOTE 12 – SEGMENT ANALYSIS (Continued)

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

Three Months Ended January 31, 2023

Net Revenues	$	3,824,159		$	1,772,125		$	-		$	5,596,284

Cost of Revenues		1,064,244			779,035			-			1,843,279

Gross Profit		2,759,915			993,090			-			3,753,005

Research & Development		438,308			6,150			-			444,458
Selling, General & Administrative		661,759			646,310			654,382			1,962,451

Total Operating Expenses		1,100,067			652,460			654,382			2,406,909

Income (Loss) from Operations		1,659,848			340,630			(654,382	)		1,346,096

Other Income (Expense)
Other Income		2,904			-			-			2,904
Interest Income		12,116			745			-			12,861

Total Other Income (Expense)		15,020			745			-			15,765

Income (Loss) before Income Taxes		1,674,868			341,375			(654,382	)		1,361,861

Income Tax (Expense) Benefit
Current Tax (Expense) Benefit		(18,873	)		(19,856	)		38,718			(11	)
Deferred Tax (Expense) Benefit		-			-			36,007			36,007

Total Income Tax (Expense) Benefit		(18,873	)		(19,856	)		74,725			35,996

Net Income (Loss)	$	1,655,995		$	321,519		$	(579,657	)	$	1,397,857

Supplemental Disclosures

Total Assets	$	36,176,835		$	13,377,560		$	949,710		$	50,504,105

Total Liabilities	$	2,694,766		$	758,160		$	480,710		$	3,933,636

Revenues from Intercompany Sales – eliminated from sales above	$	829,674		$	45,707		$	680,000		$	1,555,381

Depreciation and Amortization	$	128,838		$	24,910		$	10,259		$	164,007

Purchases of Long-lived Assets	$	79,642		$	4,780		$	21,485		$	105,907

CODA OCTOPUS GROUP, INC.

Notes to the Consolidated Financial Statements

January 31, 2024 and October 31, 2023