Helport AI Limited Ordinary Shares / "Research and Development" | Tables in SEC filings

HPAI Helport AI Limited Ordinary Shares

8 Aug 24

Annual report (foreign)

6:16pm

The following tables set forth a summary of our combined results of operations for the six months ended December 31, 2023, and for the years ended June 30, 2023 and 2022, in absolute amount and as a percentage of our revenues. This information should be read together with our combined financial statements, unaudited condensed combined financial statements, and related notes included elsewhere in this Report. The results of operations in any period are not necessarily indicative of the results that may be expected for any future period.

	For the six months ended December 31,								For the years ended June 30,
	2023				2022				2023				2022
	US$		%		US$		%		US$		%		US$		%
Revenues		14,506,363		100.00		5,926,993		100.00		12,728,313		100.00		2,667,914		100.00
Cost of revenues		(4,793,021)		(33.04)		(2,422,458)		(40.87)		(4,882,792)		(38.36)		(1,246,701)		(46.73)
Gross profit		9,713,342		66.96		3,504,535		59.13		7,845,521		61.64		1,421,213		53.27

Operating expenses:
Selling expenses		(50,214)		(0.35)		-		-		(50,830)		(0.40)		(99,817)		(3.74)
General and administrative expenses		(2,042,289)		(14.08)		(715,981)		(12.08)		(1,625,887)		(12.77)		(340,625)		(12.77)
Research and development expenses		(78,757)		(0.54)		(8,642)		(0.15)		(375,410)		(2.95)		-		-
Total operating expenses		(2,171,260)		(14.97)		(724,623)		(12.23)		(2,052,127)		(16.12)		(440,442)		(16.51)
Operating income		7,542,082		51.99		2,779,912		46.90		5,793,394		45.52		980,771		36.76

Financial expenses, net		(19,162)		(0.13)		(940)		(0.02)		(7,936)		(0.06)		(5,894)		(0.22)
Income before income tax expense		7,522,920		51.86		2,778,972		46.88		5,785,458		45.46		974,877		36.54
Income tax expense		(1,279,314)		(8.82)		(459,909)		(7.76)		(970,755)		(7.63)		(152,917)		(5.73)
Net income		6,243,606		43.04		2,319,063		39.12		4,814,703		37.83		821,960		30.81

Function	Number of Employees as of June 30, 2024		Number of Employees as of June 30, 2023		Number of Employees as of June 30, 2022
Operation		6		2		1
Management		4		1		1
Research and Development*		35		18		12
Sales and Marketing		7		2		1
Total		52		23		15

	For the years ended June 30,								Variance
	FY2024				FY2023				Amount		Percentage
	US$		%		US$		%		US$		%
Research and development expenses
AI training service fee		3,383,400		78.62		-		-		3,383,400		N/A
Product development fee		828,000		19.24		-		-		828,000		N/A
Technology service consulting fee		92,090		2.14		375,410		100.00		(283,320)		(75.47)
Total research and development expenses		4,303,490		100.00		375,410		100.00		3,928,080		1,046.34

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