OPERATIONAL AND FINANCIAL HIGHLIGHTS
As discussed further in the remainder of this MD&A and accompanying financial statements, the Company notes the following significant financial and operational achievements realized during the three-month period ended July 31, 2024 (Q1 F2025).
Gross profit increased by 19.1% to $1,564,379 compared to $1,313,856 in Q1 F2024.
Gross margin' increased to 33.5% compared to 26.6% in Q1 F2024.
Income from operations was $552,338 compared to a loss of $370,648 in Q1 F2024.
Net income was $373,364 compared to a loss of $487,870 in Q1 F2024.
Cash flow generated from operating activities was $433,962 compared to $130,013 in the prior
The Company's implementation of its cost cutting plan beginning in late fiscal 2023, as well its focus on transitioning to higher margin products, have contributed to a significant improvement in profitability during the last 15 months:
Fiscal 2025
Q1
Q4
Revenue
$4,671,780
$4,441,791
% change from prior year period
5%
8%
Gross profit
$1,564,379
$1,533,777
Gross margin
33.5%
34.5%
Income (loss) from operations
$532,338
$242,336
Net income (loss)
$373,364
$(71,988)
EBITDA
$743,480
$531,328
Adjusted EBITDA
$767,539
$531,416
Fiscal 2024
Q3
Q2
Q1
$4,812,604 $5,438,956
$4,932,947
9%
3%
-2%
$1,566,847
$1,593,371
$1,313,856
32.6%
29.3%
26.6%
$549,255
$348,689
$257,092 $(370,648)
$(181,663)
$(487,870)
$731,926
$205,326
$(113,481)
$915,712
$429,433
$(130,232)
• Existing credit facilities remain unused with greater than $3,000,000 in credit available as atJuly 31, 2024.