Quarterly report [Sections 13 or 15(d)]

SEGMENT ANALYSIS (Tables)

SEGMENT ANALYSIS (Tables)

6 Months Ended

Apr. 30, 2025

SCHEDULE OF SEGMENT REPORTING INFORMATION

	Marine Technology Business			Acoustic Sensors and Materials Business			Marine Engineering Business		Overhead			Total

Three Months Ended April 30, 2025

Net Revenues	$	3,878,090		$	1,299,069		$	1,840,300	$	-		$	7,017,459

Cost of Revenues		1,251,417			449,664			819,097		-			2,520,178

Gross Profit		2,626,673			849,405			1,021,203		-			4,497,281

Research & Development		565,385			95,266			29,344					689,995
Selling, General & Administrative		1,097,358			608,923			540,091		473,230			2,719,602

Total Operating Expenses		1,662,743			704,189			569,435		473,230			3,409,597

Income (Loss) from Operations		963,930			145,216			451,768		(473,230	)		1,087,684

Other Income
Other Income		4,967			27,365			-		-			32,332
Interest Income		86,358			1,290			25,954		31,992			145,594

Total Other Income		91,325			28,655			25,954		31,992			177,926

Income (Loss) before Income Taxes		1,055,255			173,871			477,722		(441,238	)		1,265,610

Income Tax (Expense) Benefit
Current Tax (Expense)		(32,658	)		(167,083	)		-		(174,960	)		(374,701	)
Deferred Tax Benefit		-			-			-		17,853			17,853

Total Income Tax (Expense) Benefit		(32,658	)		(167,083	)		-		(157,107	)		(356,848	)

Net Income (Loss)	$	1,022,597		$	6,788		$	477,722	$	(598,345	)	$	908,762

Supplemental Disclosures

Total Assets	$	37,175,601		$	7,036,570		$	13,538,446	$	2,839,527		$	60,590,144

Total Liabilities	$	2,689,882		$	1,241,450		$	609,333	$	160,982		$	4,701,647

Revenues from Intercompany Sales - eliminated from sales above	$	2,189,543		$	19,339		$	83,921	$	300,000		$	2,592,803

Depreciation and Amortization	$	134,486		$	173,022		$	15,823	$	12,336		$	335,667

Purchases of Long-lived Assets	$	4,997		$	6,635		$	12,579	$	-		$	24,211

CODA OCTOPUS GROUP, INC.

Notes to the Unaudited Consolidated Financial Statements

April 30, 2025 and October 31, 2024

NOTE 15 – SEGMENT ANALYSIS (Continued)

In the Segment Analysis information presented for the Previous Quarter, there is no comparative information for the Acoustics Sensors and Material Business (“PAL”) as this business unit was acquired by the Company on October 29, 2024.

	Marine Technology Business			Marine Engineering Business		Overhead			Total

Three Months Ended April 30, 2024

Net Revenues	$	3,524,714		$	1,798,464	$	-		$	5,323,178

Cost of Revenues		697,464			887,280		-			1,584,744

Gross Profit		2,827,250			911,184		-			3,738,434

Research & Development		485,061			57,420		-			542,481
Selling, General & Administrative		792,820			596,451		456,299			1,845,570

Total Operating Expenses		1,277,881			653,871		456,299			2,388,051

Income (Loss) from Operations		1,549,369			257,313		(456,299	)		1,350,383

Other Income
Other Income		(14,616	)		11,980		-			(2,636	)
Interest Income		202,157			52,067		39,244			293,468

Total Other Income		187,541			64,047		39,244			290,832

Income (Loss) before Income Taxes		1,736,910			321,360		(417,055	)		1,641,215

Income Tax (Expense)
Current Tax (Expense)		(43,900	)		-		(147,173	)		(191,073	)
Deferred Tax (Expense)		(10,975	)		-		(23,929	)		(34,904	)

Total Income Tax (Expense)		(54,875	)		-		(171,102	)		(225,977	)

Net Income (Loss)	$	1,682,035		$	321,360	$	(588,157	)	$	1,415,238

Supplemental Disclosures

Total Assets	$	37,040,637		$	13,945,102	$	3,011,417		$	53,997,156

Total Liabilities	$	1,807,318		$	912,679	$	210,789		$	2,930,786

Revenues from Intercompany Sales - eliminated from sales above	$	474,742		$	104,263	$	318,000		$	897,005

Depreciation and Amortization	$	158,112		$	24,343	$	11,658		$	194,113

Purchases of Long-lived Assets	$	153,339		$	1,185	$	42,818		$	197,342

CODA OCTOPUS GROUP, INC.

Notes to the Unaudited Consolidated Financial Statements

April 30, 2025 and October 31, 2024

	Marine Technology Business			Acoustic Sensors and Materials Business			Marine Engineering Business		Overhead			Total

Six Months Ended April 30, 2025

Net Revenues	$	6,153,899		$	2,611,330		$	3,461,945	$	-		$	12,227,174

Cost of Revenues		1,863,585			951,781			1,486,057		-			4,301,423

Gross Profit		4,290,314			1,659,549			1,975,888		-			7,925,751

Research & Development		971,197			186,230			75,694		-			1,233,121
Selling, General & Administrative		1,663,222			847,177			1,177,987		1,254,538			4,942,924

Total Operating Expenses		2,634,419			1,033,407			1,253,681		1,254,538			6,176,045

Income (Loss) from Operations		1,655,895			626,142			722,207		(1,254,538	)		1,749,706

Other Income
Other Income		10,813			100,186			-		-			110,999
Interest Income		241,671			3,592			53,310		41,192			339,765

Total Other Income		252,484			103,778			53,310		41,192			450,764

Income (Loss) before Income Taxes		1,908,379			729,920			775,517		(1,213,346	)		2,200,470

Income Tax (Expense) Benefit
Current Tax (Expense)		(81,532	)		(167,083	)		-		(174,960	)		(423,575	)
Deferred Tax Benefit		-			-			-		44,842			44,842

Total Income Tax (Expense)		(81,532	)		(167,083	)		-		(130,118	)		(378,733	)

Net Income (Loss)	$	1,826,847		$	562,837		$	775,517	$	(1,343,464	)	$	1,821,737

Supplemental Disclosures

Total Assets	$	37,175,601		$	7,036,570		$	13,538,446	$	2,839,527		$	60,590,144

Total Liabilities	$	2,689,882		$	1,241,450		$	609,333	$	160,982		$	4,701,647

Revenues from inter-company sales - eliminated from sales above	$	3,111,874		$	22,091		$	102,734	$	612,000		$	3,848,699

Depreciation and Amortization	$	281,817		$	329,392		$	32,527	$	25,336		$	669,072

Purchases of Long-lived Assets	$	23,295		$	113,977		$	15,047	$	-		$	152,319

CODA OCTOPUS GROUP, INC.

Notes to the Unaudited Consolidated Financial Statements

April 30, 2025 and October 31, 2024

	Marine Technology Business			Marine Engineering Business		Overhead			Total

Six Months Ended April 30, 2024

Net Revenues	$	7,067,480		$	2,716,889	$	-		$	9,784,369

Cost of Revenues		1,671,344			1,287,855		-			2,959,199

Gross Profit		5,396,136			1,429,034		-			6,825,170

Research & Development		946,436			82,022		-			1,028,458
Selling, General & Administrative		1,628,211			1,196,935		1,065,799			3,890,945

Total Operating Expenses		2,574,647			1,278,957		1,065,799			4,919,403

Income (Loss) from Operations		2,821,489			150,077		(1,065,799	)		1,905,767

Other Income
Other Income		5,690			26,694		-			32,384
Interest Income		337,888			108,876		39,244			486,008

Total Other Income		343,578			135,570		39,244			518,392

Income (Loss) before Income Taxes		3,165,067			285,647		(1,026,555	)		2,424,159

Income Tax (Expense) Benefit
Current Tax (Expense)		(79,440	)		-		(77,618	)		(157,058	)
Deferred Tax Benefit (Expense)		16,353			-		(238,328	)		(221,975	)

Total Income Tax (Expense) Benefit		(63,087	)		-		(315,946	)		(379,033	)

Net Income (Loss)	$	3,101,980		$	285,647	$	(1,342,501	)	$	2,045,126

Supplemental Disclosures

Total Assets	$	37,040,637		$	13,945,102	$	3,011,417		$	53,997,156

Total Liabilities	$	1,807,318		$	912,679	$	210,789		$	2,930,786

Revenues from inter-company sales - eliminated from sales above	$	1,423,676		$	115,053	$	630,000		$	2,168,729

Depreciation and Amortization	$	311,131		$	49,700	$	23,820		$	384,651

Purchases of Long-lived Assets	$	285,762		$	3,393	$	70,663		$	359,818