2024 Q4 Form 10-Q Financial Statement

#000121390024098404 Filed on November 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $42.48M $41.25M
YoY Change 3.0%
Cost Of Revenue $46.09M $36.02M
YoY Change 27.96%
Gross Profit -$3.607M $5.226M
YoY Change -169.01%
Gross Profit Margin -8.49% 12.67%
Selling, General & Admin $3.527M
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $578.4K $388.9K
YoY Change 48.72%
% of Gross Profit 7.44%
Operating Expenses $3.669M $1.908M
YoY Change 92.27%
Operating Profit -$7.276M $3.318M
YoY Change -319.26%
Interest Expense -$9.010K
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.197M $528.8K
YoY Change 126.28%
Pretax Income -$6.079M $3.847M
YoY Change -258.01%
Income Tax -$1.431M $1.092M
% Of Pretax Income 28.39%
Net Earnings -$4.648M $2.755M
YoY Change -268.72%
Net Earnings / Revenue -10.94% 6.68%
Basic Earnings Per Share -$0.11 $0.07
Diluted Earnings Per Share -$0.11 $0.07
COMMON SHARES
Basic Shares Outstanding 41.63M shares 41.63M shares 40.00M shares
Diluted Shares Outstanding 41.71M shares 40.00M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.924M
YoY Change
Cash & Equivalents $2.924M $6.683M
Short-Term Investments
Other Short-Term Assets $1.875M
YoY Change
Inventory
Prepaid Expenses $812.7K
Receivables $25.18M
Other Receivables $861.6K
Total Short-Term Assets $31.65M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $11.79M
YoY Change
Goodwill
YoY Change
Intangibles $83.88K
YoY Change
Long-Term Investments $270.8K
YoY Change
Other Assets $817.6K
YoY Change
Total Long-Term Assets $125.8M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $31.65M
Total Long-Term Assets $125.8M
Total Assets $157.5M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.399M
YoY Change
Accrued Expenses $27.05M
YoY Change
Deferred Revenue $774.7K
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $155.6K
YoY Change
Total Short-Term Liabilities $33.91M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $133.9K
YoY Change
Other Long-Term Liabilities $88.70M
YoY Change
Total Long-Term Liabilities $88.83M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $33.91M
Total Long-Term Liabilities $88.83M
Total Liabilities $122.9M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings $19.12M
YoY Change
Common Stock $15.47M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $34.59M $28.16M
YoY Change
Total Liabilities & Shareholders Equity $157.5M
YoY Change

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$4.648M $2.755M
YoY Change -268.72%
Depreciation, Depletion And Amortization $578.4K $388.9K
YoY Change 48.72%
Cash From Operating Activities -$3.603M $3.061M
YoY Change -217.69%
INVESTING ACTIVITIES
Capital Expenditures $1.353M $1.145M
YoY Change 18.18%
Acquisitions
YoY Change
Other Investing Activities $36.71K
YoY Change
Cash From Investing Activities -$1.317M -$2.165M
YoY Change -39.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$44.84K $939.3K
YoY Change -104.77%
NET CHANGE
Cash From Operating Activities -$3.603M $3.061M
Cash From Investing Activities -$1.317M -$2.165M
Cash From Financing Activities -$44.84K $939.3K
Net Change In Cash -$4.965M $1.836M
YoY Change -370.38%
FREE CASH FLOW
Cash From Operating Activities -$3.603M $3.061M
Capital Expenditures $1.353M $1.145M
Free Cash Flow -$4.956M $1.916M
YoY Change -358.64%

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>1. Organization and principal activities</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Armlogi Holding Corp. and its consolidated subsidiaries (the “Company”) operate as a third-party logistics company, providing multi-model transportation and logistics services primarily in the United States.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s primary transportation services involve arranging shipments, on behalf of its customers, of materials that are generally larger than shipments handled by integrated carriers of primarily small parcels, such as FedEx, and UPS, including arranging and monitoring all aspects of material flow activity utilizing advanced information technology systems. The Company also provides other value-added logistics services, including warehousing services, materials management and distribution services, and customs house brokerage services, to complement its core transportation service offering.</p>
CY2024Q3 us-gaap Use Of Estimates
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The preparation of financial statements and related disclosures in accordance with accounting principles generally accepted in the United States (‘U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. There were no critical accounting estimates affecting the unaudited condensed consolidated financial statements for the three months ended September 30, 2024 and 2023.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2024Q3 us-gaap Concentration Risk Credit Risk
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Certain risks and concentration</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and restricted cash, receivables, loan receivables and other current assets. As of September 30, 2024 and June 30, 2024, substantially all of the Company’s cash and restricted cash were held in EastWest Bank located in the U.S., which management considers to be of high credit quality.</p>
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For a tax position that meets the more-likely-than-not recognition threshold, the Company initially and subsequently measures the tax benefit as the largest amount that the Company judges to have a greater than 50% likelihood of being realized upon ultimate settlement with a taxing authority.
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CY2024Q3 dei Document Fiscal Period Focus
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CY2024Q3 dei Document Fiscal Year Focus
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2025
CY2024Q3 dei Entity Central Index Key
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0001972529

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