Financial Performance - Net sales for Q3 2024 were $2,512, an increase of $455, or 22.1%, from $2,057 in Q3 2023[62] - Gross profit for Q3 2024 was $1,265, an increase of $272, or 27.4%, compared to Q3 2023, with a gross margin of 50.4%[63] - Net income for Q3 2024 was 9.5%, compared to 0.5% in Q3 2023[61] Operating Expenses - Total operating expenses for Q3 2024 were $1,092, an increase of $73, or 7.2%, but decreased as a percentage of net sales to 43.5% from 49.5%[64] - Total operating expenses for the nine months ended September 30, 2024, were $3,426, an increase of $223, or 7.0%, but decreased as a percentage of net sales to 49.1% from 51.3%[64] Cash Flow and Liquidity - Cash and cash equivalents increased to $10,246 as of September 30, 2024, from $9,870 at December 31, 2023[72] - Cash from operating activities was $406 for the nine months ended September 30, 2024, compared to $255 for the same period in 2023[73] - The company believes its ongoing cash requirements will be sufficient to meet needs through at least the next 12 months[75] Taxation - The effective tax rate for the nine-month period ended September 30, 2024, was 20.5%, compared to 54.5% in the same period of 2023[71] Growth Strategy - The company is exploring growth opportunities through technology partnerships and potential acquisitions[78]
Electro-Sensors(ELSE) - 2024 Q3 - Quarterly Report