2 results
10-Q
2024 Q1
MAMO
Massimo Group
13 May 24
Quarterly report
7:00pm
2024 | 2023 | |||||||
For the Three Months Ended March 31, | ||||||||
2024 | 2023 | |||||||
Revenues | $ | 30,151,677 | $ | 18,840,415 | ||||
Cost of revenues | 19,700,290 | 13,223,421 | ||||||
Gross Profit | 10,451,387 | 5,616,994 | ||||||
Operating expenses: | ||||||||
Selling and marketing expenses | 2,210,484 | 1,950,285 | ||||||
General and administrative expenses | 4,106,905 | 2,984,262 | ||||||
Research and development expenses | 162,250 | - | ||||||
Total operating expenses | 6,479,639 | 4,934,547 | ||||||
Income from operations | 3,971,748 | 682,447 | ||||||
Other income (expense): | ||||||||
Other income, net | 247,569 | 44,895 | ||||||
Interest expense | (137,694) | (155,098) | ||||||
Total other income (expense), net | 109,875 | (110,203) | ||||||
Income before income taxes | 4,081,623 | 572,244 | ||||||
Provision for income taxes | 900,341 | 24,079 | ||||||
Net income and comprehensive income | $ | 3,181,282 | $ | 548,165 | ||||
Earnings per share – basic and diluted | $ | 0.08 | $ | 0.01 | ||||
Weighted average number of shares of common stock outstanding – basic and diluted | 40,000,000 | 40,000,000 |
10-Q
2024 Q1
MAMO
Massimo Group
13 May 24
Quarterly report
7:00pm
For the three months ended March 31, | ||||||||||||||||||||||||
2024 | 2023 | |||||||||||||||||||||||
Amount | As % of Sales | Amount | As % of Sales | Amount Increase (Decrease) | Percentage Increase (Decrease) | |||||||||||||||||||
Sales | $ | 30,151,677 | 100.0 | % | $ | 18,840,415 | 100.0 | % | $ | 11,311,262 | 60.0 | % | ||||||||||||
Cost of sales | 19,700,290 | 65.3 | % | 13,223,421 | 70.2 | % | 6,476,869 | 49.0 | % | |||||||||||||||
Gross profit | 10,451,387 | 34.7 | % | 5,616,994 | 29.8 | % | 4,834,393 | 86.1 | % | |||||||||||||||
Operating expenses | ||||||||||||||||||||||||
Selling expenses | 2,210,484 | 7.3 | % | 1,950,285 | 10.4 | % | 260,199 | 13.3 | % | |||||||||||||||
General and administrative expenses | 4,106,905 | 13.6 | % | 2,984,262 | 15.8 | % | 1,122,643 | 37.6 | % | |||||||||||||||
Research and development expenses | 162,250 | 0.5 | % | - | - | 162,250 | NA | |||||||||||||||||
Total operating expenses | 6,479,639 | 21.5 | % | 4,934,547 | 26.2 | % | 1,545,092 | 31.3 | % | |||||||||||||||
Income from operations | 3,971,748 | 13.2 | % | 682,447 | 3.6 | % | 3,289,301 | 482.0 | % | |||||||||||||||
Other income (expenses) | ||||||||||||||||||||||||
Other income, net | 247,569 | 0.8 | % | 44,895 | 0.2 | % | 202,674 | 451.4 | % | |||||||||||||||
Interest expense | (137,694) | (0.5 | )% | (155,098) | (0.8 | )% | 17,404 | (11.2 | )% | |||||||||||||||
Total other income/(expenses) | 109,875 | 0.4 | % | (110,203) | (0.6 | )% | 220,078 | (199.7 | )% | |||||||||||||||
Income before income taxes | 4,081,623 | 13.5 | % | 572,244 | 3.0 | % | 3,509,379 | 613.3 | % | |||||||||||||||
Provision for income taxes | 900,341 | 3.0 | % | 24,079 | 0.1 | % | 876,262 | 3,639.1 | % | |||||||||||||||
Net income | $ | 3,181,282 | 10.6 | % | $ | 548,165 | 2.9 | % | $ | 2,633,117 | 480.4 | % |
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