Financial Performance - Net sales for Q1 2025 were approximately $4.80 million, a slight decrease of $92,000 or 1.9% compared to $4.89 million in Q1 2024[71] - Revenue from foil balloons increased to $4,234,000 in Q1 2025, up from $2,919,000 in Q1 2024, representing a 45% increase[72] - Revenue from film products rose to $427,000 in Q1 2025, compared to $305,000 in Q1 2024, marking a 40% increase[73] - Other revenues decreased significantly to $141,000 in Q1 2025 from $1,670,000 in Q1 2024, primarily due to the timing of spring product shipments[74] - Cost of sales for Q1 2025 was $3,936,000, slightly lower than $3,999,000 in Q1 2024, maintaining a gross margin of 18%[77] - General and administrative expenses decreased to $839,000 in Q1 2025 from $1,040,000 in Q1 2024, largely due to a $167,000 reduction in audit fees[78] Cash Flow and Liquidity - Net cash provided by operations was $970,000 in Q1 2025, compared to net cash used in operations of $767,000 in Q1 2024[79] - As of March 31, 2025, the company had cash balances of $172,000, an increase from $49,000 in the same period of 2024[82] - The term loan balance as of March 31, 2025, was $0.6 million, with a revolving line of credit balance of $5.6 million[68] - The Company's primary sources of liquidity are cash and cash equivalents, along with availability under the Credit Agreement[85] Going Concern - The Company faces substantial doubt about its ability to continue as a going concern for one year from the issuance of the consolidated financial statements[84] - Management's plans to ensure going concern include executing the business plan and exploring alternative funding sources[84] Seasonal Sales - Sales in the foil balloon product line are seasonal, with approximately 40% of sales occurring from December through March[86] Accounting Estimates - There have been no material changes to the critical accounting estimates since December 31, 2024[87]
Yunhong Green CTI(YHGJ) - 2025 Q1 - Quarterly Report