Laser Photonics (LASE) - 2025 Q1 - Quarterly Report

Financial Performance - For the three months ending March 31, 2025, the company reported revenue of $2,291,231, representing an increase of 108% compared to $742,991 in the same period of 2024[98]. - Gross profit for the same period was $1,140,715, resulting in a gross margin of 49.8%, down from 51.9% in the prior year[98]. - The company recorded a net loss of $1,680,723 for the three months ending March 31, 2025, compared to a net loss of $545,709 in the same period of 2024[101]. - EBITDA for the three months ending March 31, 2025, was $(1,317,795), compared to $(360,393) in the same period of 2024[111]. - Adjusted EBITDA excludes interest expense, income tax provision, depreciation and amortization, stock-based compensation, and other specific costs, allowing for a clearer performance comparison[2]. Expenses and Investments - Selling, general, and administrative (SG&A) expenses increased to $900,034 in Q1 2025 from $356,265 in Q1 2024, driven by strategic investments in market reach and sales force[100]. - The company anticipates that SG&A expenses as a percentage of sales will decline in the long run as the business grows[99]. - The company plans to continue investing in research and development to enhance existing technologies and develop new products, systems, and applications[97]. Cash and Working Capital - As of March 31, 2025, the company had $179,091 in cash and a working capital deficit of $876,778, down from a total working capital of $2,091,025 on December 31, 2024[105]. Product Development - The company is developing the CleanTech™ product line, aimed at making laser cleaning technologies more accessible to small businesses[89]. Supply Chain and Risk Management - Supply chain constraints are expected to persist, impacting the company's ability to supply products and meet customer demand[91]. - The company has not utilized any derivative financial instruments and does not have borrowings, indicating minimal exposure to interest rate risk[3]. - The company operates solely within the United States and is not affected by foreign currency fluctuations or exchange rate changes[3].