$NEOV
NeoVolta Inc.

2024 Q3 Form 10-K Financial Statement

#000168316824006718 Filed on September 27, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2024
Revenue $590.2K $579.2K $2.645M
YoY Change -22.76% -19.55% -23.46%
Cost Of Revenue $497.4K $562.1K $2.135M
YoY Change -22.64% 19.59% -22.87%
Gross Profit $92.85K $17.15K $510.3K
YoY Change -23.38% -93.4% -25.82%
Gross Profit Margin 15.73% 2.96% 19.29%
Selling, General & Admin $1.050M $742.2K $2.828M
YoY Change 87.52% 27.96% -14.04%
% of Gross Profit 1131.02% 4327.52% 554.16%
Research & Development $8.617K $8.760K $19.15K
YoY Change -36.02%
% of Gross Profit 9.28% 51.08% 3.75%
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $1.059M $750.9K $2.847M
YoY Change 90.71% 31.74% -14.33%
Operating Profit -$965.9K -$733.8K -$2.337M
YoY Change 122.56% 136.7% -11.33%
Interest Expense $1.400K $4.700K $33.64K
YoY Change 713.74%
% of Operating Profit
Other Income/Expense, Net $1.395K $33.64K
YoY Change -73.54% -913.84%
Pretax Income -$964.5K -$729.1K -$2.303M
YoY Change 124.3% 127.84% -12.75%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$964.5K -$729.1K -$2.303M
YoY Change 124.97% 127.84% -12.75%
Net Earnings / Revenue -163.41% -125.87% -87.08%
Basic Earnings Per Share -$0.03 -$0.07
Diluted Earnings Per Share -$0.03 -$0.02 -$0.07
COMMON SHARES
Basic Shares Outstanding 33.25M shares 33.24M shares 33.21M shares
Diluted Shares Outstanding 33.24M shares 33.21M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $393.4K $986.4K $986.4K
YoY Change -78.38% -50.68% -50.68%
Cash & Equivalents $393.4K $986.4K $986.4K
Short-Term Investments
Other Short-Term Assets $38.41K $76.82K $76.82K
YoY Change -23.18% -23.18% -23.18%
Inventory $1.768M $1.787M $1.787M
Prepaid Expenses
Receivables $1.951M $1.806M $1.806M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.150M $4.657M $4.657M
YoY Change -32.76% -28.43% -28.47%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $4.150M $4.657M $4.657M
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $4.150M $4.657M $4.657M
YoY Change -32.76% -28.43% -28.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $216.3K $5.316K $5.320K
YoY Change
Accrued Expenses $37.44K $55.78K $55.78K
YoY Change -25.12% 39.45% 39.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $253.8K $61.10K $61.10K
YoY Change 413.95% 54.72% 52.75%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $253.8K $61.10K $61.10K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $253.8K $61.10K $61.10K
YoY Change 407.56% 54.72% 52.75%
SHAREHOLDERS EQUITY
Retained Earnings -$21.71M -$20.74M
YoY Change 15.05% 12.49%
Common Stock $33.25K $33.24K
YoY Change 0.27% 0.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.896M $4.595M $4.595M
YoY Change
Total Liabilities & Shareholders Equity $4.150M $4.657M $4.657M
YoY Change -32.76% -28.43% -28.47%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2024
OPERATING ACTIVITIES
Net Income -$964.5K -$729.1K -$2.303M
YoY Change 124.97% 127.84% -12.75%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$593.0K -$27.53K -$1.016M
YoY Change 231.14% -98.11% -51.79%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 $0.00
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -$593.0K -27.53K -$1.016M
Cash From Investing Activities
Cash From Financing Activities 0.000 $0.00
Net Change In Cash -$593.0K -27.53K -$1.016M
YoY Change 231.14% -98.11% -160.77%
FREE CASH FLOW
Cash From Operating Activities -$593.0K -$27.53K -$1.016M
Capital Expenditures
Free Cash Flow
YoY Change

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<p id="xdx_846_ecustom--ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy1_zuKLSrHzqH7c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i><span id="xdx_866_zBj4yfZ0hk49">Allowance for Expected Credit Losses</span> </i>– The Company recognizes an allowance for expected credit losses whenever a loss is expected to be incurred in the realization of a customer’s account. As of June 30, 2024 and 2023, our allowance for expected credit losses was $<span id="xdx_90B_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iI_c20240630_z3SM4RtLqHGb">1,030,000</span> and $<span id="xdx_90B_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iI_c20230630_zc8jPmHZGVl">490,000</span>, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p>
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CY2024 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
279400 usd
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
130300 usd
CY2024 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-279400 usd
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-130300 usd
CY2024 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2024Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
824300 usd
CY2023Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
544900 usd
CY2024Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
824300 usd
CY2023Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
544900 usd
CY2024Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2023Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2024Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
3915000 usd
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

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0001683168-24-006718-index-headers.html Edgar Link pending
0001683168-24-006718-index.html Edgar Link pending
0001683168-24-006718.txt Edgar Link pending
0001683168-24-006718-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
image_001.jpg Edgar Link pending
image_002.jpg Edgar Link pending
image_003.jpg Edgar Link pending
image_004.jpg Edgar Link pending
image_005.jpg Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
MetaLinks.json Edgar Link pending
neov-20240630.xsd Edgar Link pending
neovolta_10k-063024.htm Edgar Link pending
neovolta_ex1901.htm Edgar Link pending
neovolta_ex2301.htm Edgar Link pending
neovolta_ex3101.htm Edgar Link pending
neovolta_ex3102.htm Edgar Link pending
neovolta_ex3201.htm Edgar Link pending
neovolta_ex3202.htm Edgar Link pending
neovolta_ex9701.htm Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
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R2.htm Edgar Link pending
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R24.htm Edgar Link pending
R25.htm Edgar Link pending
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R27.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
neov-20240630_def.xml Edgar Link unprocessable
neov-20240630_lab.xml Edgar Link unprocessable
neov-20240630_cal.xml Edgar Link unprocessable
neov-20240630_pre.xml Edgar Link unprocessable
neovolta_10k-063024_htm.xml Edgar Link completed