Wetouch Technology Inc.
For the period ended Sep 30, 2025. Filed Nov 12, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 12, 2025
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What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-06-30; filed 2025-10-09.
0001213900-25-097613
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-09-30; filed 2025-11-12.
0001213900-25-109003
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 104 previous paragraphs and 102 current paragraphs.
55 unchanged; 45 reworded; 2 added; 3 removed; 1 previous and 0 current paragraphs rearranged.
Tables are not compared: 26 previous and 26 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (2)
Current report
Results of Operations - Nine Months Ended September 30, 2025 Compared to Nine Months Ended September 30, 2024
Current report
Investing Activity
Removed paragraphs (3)
Previous report
Results of Operations - Six Months Ended June 30, 2025 Compared to Six Months Ended June 30, 2024
Previous report
Net cash provided by operating activities was $4.7 million for the six months ended June 30, 2025 as compared to net cash used in operating activities of $9.2 million for the same period of the last year.
Previous report
Investing Activities
Reworded paragraphs (45)
Previous wording
We generate revenues through sales of our various touchscreen products. We sell our touchscreen products both domestically in China and internationally, covering major areas in Mainland China, including but not limited to the eastern, southern, northern and southwest regions of Mainland China, Taiwan, South Korea, and Germany. We believe that we have established a strong and diversified client base. For the three months ended June 30, 2025 and 2024, our domestic sales accounted for approximately 67.7% and 64.8%, respectively, of our revenues, and our international sales accounted for approximately 32.3% and 35.2%, respectively, of our revenues. For the six months ended June 30, 2025 and 2024, our domestic sales accounted for approximately 66.7% and 63.4%, respectively, of our revenues, and our international sales accounted for approximately 33.3% and 36.6%, respectively, of our revenues.
Current wording
We generate revenues through sales of our various touchscreen products. We sell our touchscreen products both domestically in China and internationally, covering major areas in Mainland China, including but not limited to the eastern, southern, northern and southwest regions of Mainland China, Taiwan, South Korea, and Germany. We believe that we have established a strong and diversified client base. For the three months ended September 30, 2025 and 2024, our domestic sales accounted for approximately 68.9% and 64.3%, respectively, of our revenues, and our international sales accounted for approximately 31.1% and 35.7%, respectively, of our revenues. For the nine months ended September 30, 2025 and 2024, our domestic sales accounted for approximately 67.9% and 64.0%, respectively, of our revenues, and our international sales accounted for approximately 32.1% and 36.0%, respectively, of our revenues.
Previous wording
As of the date of this Quarterly Report, we estimate to finish the building construction by the end of 2025 and commence production in the second quarter of 2026. In consideration of the capital requirements for the new facility construction, we plan to fund the project primarily with our existing cash on hand, which totaled approximately $106.4 million as of June 30, 2025, and cash flows generated from operations, and we may seek additional financing if needed to support the timely completion of the project.
Current wording
As of the date of this Quarterly Report, we estimate to finish the building construction by the end of 2025 and commence production in the second quarter of 2026. In consideration of the capital requirements for the new facility construction, we plan to fund the project primarily with our existing cash on hand, which totaled approximately $113.2 million as of September 30, 2025, and cash flows generated from operations, and we may seek additional financing if needed to support the timely completion of the project.
Previous wording
Highlights for the three months ended June 30, 2025 include:
Current wording
Highlights for the three months endedSeptember 30, 2025 include:**
Previous wording
We generated revenue of $12.4 million for the three months ended June 30, 2025, an increase of $0.2 million, or 1.6%, compared to $12.2 million in the same period of last year. This was due to an increase of 5.1% in sales volume, 0.2% positive impact from exchange rate due to appreciation of RMB against US dollars, partially offset by a decrease of 3.6% in the average selling price of our products, compared with that of the same period of last year.
Current wording
We generated revenue of $12.2 million for the three months ended September 30, 2025, an increase of $0.7 million, or 6.1%, compared to $11.5 million in the same period of last year. This was due to an increase of 9.0% in sales volume, 0.1% positive impact from exchange rate due to appreciation of RMB against US dollars, partially offset by a decrease of 3.3% in the average selling price of our products, compared with that of the same period of last year.
Previous wording
For the three months ended June 30, 2025, revenue from domestic market increased by $0.5 million or 6.3% as a combined result of: (i) an increase of 10.8% in sales volume due to higher sales volume of automotive touchscreens, industrial control computer touchscreens, and multi-functional printer touchscreens, (ii) 0.2% positive impact from exchange rate due to appreciation of RMB against US dollars, partially offset by a decrease of 3.6% in the average RMB selling price of our products, compared with those of the same period of last year.
Current wording
For the three months ended September 30, 2025, we recorded revenue of $8.4 million in the domestic market, an increase of $1.0 million of 13.5%, as compared to $7.4 million of the same period of 2024. The increase was primarily due to (i) an increase of 15.5% in sales volume due to higher sales volume of automotive touchscreens, industrial control computer touchscreens, POS touchscreens, medical touchscreens and multi-functional printer touchscreens, (ii) 0.1% positive impact from exchange rate due to appreciation of RMB against US dollars, partially offset by a decrease of 2.6% in the average RMB selling price of our products, compared with those of the same period of last year.
Previous wording
As for the RMB selling price, the decrease of 3.6% was mainly due todue to the lower demand ofhigher selling priced products of touchscreen machines in the PRC domestic market, including the decreased average RMB selling price of 12.7% inmedical touchscreens and 2.0% in industrial control computer touchscreens and 1.3% in automotive touchscreens during the three months ended June 30, 2025.
Current wording
As for the RMB selling price, the decrease of 2.6% was mainly due to due to the lower demand of higher selling priced products of touchscreen machines in the PRC domestic market, including the decreased average RMB selling price of 13.4% in medical touchscreens and 0.9% in automotive touchscreens during the three months ended September 30, 2025.
Previous wording
The Company has taken proactive efforts to market new models and efforts to obtain new customers and penetrate into new regions, our sales increased by 8.6% in South China, and 7.3% in East China, and 5.3% in Southwest China during the three months ended June 30, 2025.
Current wording
The Company has taken proactive efforts to market new models and efforts to obtain new customers in existing markets, our sales increased by 14.1% in South China, 13.4 in East China, and 10.5% in Southwest China during the three months ended September 30, 2025.
Previous wording
For the three months ended June 30, 2025, revenues from the overseas market were $4.0 million as compared to $4.3 million of the same period of 2024, representing a decrease by $0.3 million, or 7.0%, mainly due to i) a decrease of 4.7% in sales volume including decreased sales of 8.6% in gaming touchscreens and 15.4% in automotive touchscreens, ii) a decrease of 4.1% in average selling price in RMB due to the lower demand on touchscreen machines in medical touchscreens, industrial control computer touchscreens, and automotive touchscreens, partially offset by iii) the 0.2% positive impact from exchange rate due to appreciation of RMB against US dollars, compared with those of the same period of last year.
Current wording
For the three months ended September 30, 2025, revenues from the overseas market were $3.8 million as compared to $4.1 million of the same period of 2024, representing a decrease by $0.3 million, or 7.3%, mainly due to i) a decrease of 2.5% in sales volume mainly in gaming touchscreens and automotive touchscreens, ii) a decrease of 5.1% in average selling price in RMB due to the lower demand on touchscreen machines in industrial control computer touchscreens and automotive touchscreens, partially offset by iii) the 0.1% positive impact from exchange rate due to appreciation of RMB against US dollars, compared with those of the same period of last year.
Previous wording
The Company continued to shift production mix from traditional lower-end products to high-end products such as POS touchscreens and industrial control computer touchscreens, primarily due to (i) greater growth potential of computer screen models in China and overseas market, and (ii) the stronger demand on higher-end touch screens made with better materials and better quality.
Current wording
The Company continued to shift production mix from traditional lower-end products to high-end products such as medical touchscreens and automotive touchscreens, primarily due to (i) greater growth potential of computer screen models in China and overseas market, and (ii) the stronger demand on higher-end touch screens made with better materials and better quality.
Previous wording
Gross profit was $4.1 million in the second quarter ended June 30, 2025, compared to $4.8 million in the same period of 2024. Our gross profit margin decreased to 33.1% for the second quarter ended June 30, 2025, as compared to 39.7% for the same period of 2024, primarily due to the increase of cost of goods sold by 12.8% resulting from the increase of 13.5% in costs of raw materials, and 3.3% in labor cost, partially offset by the increased sales of 1.6% during the three months ended June 30, 2025.
Current wording
Gross profit was $4.0 million in the third quarter ended September 30, 2025, compared to $4.4 million in the same period of 2024. Our gross profit margin decreased to 32.7% for the third quarter ended September 30, 2025, as compared to 38.4% for the same period of 2024, primarily due to the increase of cost of goods sold by 13.8% resulting from the increase of 14.2% in costs of raw materials, and 2.7% in labor cost, partially offset by the increased sales of 6.1% during the quarter ended September 30, 2025.
Previous wording
Selling expenses were $0.1 million for the three months ended June 30, 2025, compared to $0.3 million in the same period in 2024, representing a decrease of $0.2 million, or 66.7%. The decrease was primarily due to the decrease of $0.2 million traveling expenses due to using online communication to market our products during the three months ended June 30,2025.
Current wording
Selling expenses were $0.1 million for the three months ended September 30, 2025, compared to $0.2 million in the same period in 2024, representing a decrease of $0.1 million, or 50.0%. The decrease was primarily due to the decrease of traveling expenses because of sales department utilizing more online communications for sales forecast and marketing evaluations during the three months ended September 30, 2025.
Previous wording
General and administrative expenses were $0.9 for the three months ended June 30, 2025, compared to $0.8 million in the same period in 2024, representing an increase of $0.1 million, or 12.5%. The increase was primarily due to $0.1 million professional fees during the three months ended June 30, 2025.
Current wording
General and administrative expenses were $0.8 million and $0.7 million for the three months ended September 30, 2025 and 2024, respectively, the increase of $0.1 million was primarily due to the professional fees.
Previous wording
Research and development expenses were nil and $43,211 for three months ended June 30, 2025 and 2024, respectively.
Current wording
Research and development expenses were nil and $43,859 for the three months ended September 30, 2025 and 2024, respectively.
Previous wording
Total operating income was $3.1 million for the three months ended June 30, 2025 as compared to $3.7 million of the same period of last year, primarily due to lower gross margin and higher, general and administrative expenses, partially offset by the lower selling expenses and research & development expenses for the three months ended June 30, 2025.
Current wording
Total operating income was $3.1 million for the three months ended September 30, 2025 as compared to $3.5 million of the same period of last year, primarily due to lower gross margin for the three months ended September 30, 2025.
Previous wording
Gain on changes in fair value of common stock purchase warrants for the three months ended June 30, 2024 was $37,751 (See Note 10 (b) of the accompanying financial statements).
Current wording
Gain on changes in fair value of common stock purchase warrants for the three months ended September 30, 2024 was $0.1 million (See Note 10 (b) of the accompanying financial statements).
Previous wording
The effective income tax rates for the three months ended June 30, 2025 and 2021 were 28.1% and 28.9%, respectively.
Current wording
The effective income tax rates for the three months ended September 30, 2025 and 2024 were 20.1% and 26.9%, respectively.
Previous wording
As a result of the above factors, we had a net income of $2.2 million in the second quarter of 2025 compared to a net income of $2.7 million in the same quarter of 2024.
Current wording
As a result of the above factors, we had a net income of $2.5 million in the third quarter of 2025 compared to a net income of $2.7 million in the same quarter of 2024.
Previous wording
We generated revenue of $27.1 million for the six months ended June 30, 2024, an increase of $0.9 million, or 3.4%, compared to $26.2 million in the same period of last year. This was mainly due to an increase of 3.4% in sales volume, and an increase of 4.2% in the average RMB selling price of our products, partially offset by 4.1% negative impact from exchange rate due to depreciation of RMB against US dollars, compared with those of the same period of last year.
Current wording
We generated revenue of $39.9 million for the nine months ended September 30, 2025, an increase of $1.3 million, or 3.4%, compared to $38.6 million in the same period of last year. This was mainly due to an increase of 8.8% in sales volume, partially offset by a decrease of 4.9% in the average RMB selling price of our products, and 0.3% negative impact from exchange rate due to depreciation of RMB against US dollars, compared with those of the same period of last year.
Previous wording
For the six months ended June 30, 2025, revenue from PRC market increased by $1.5 million or 8.7% as a combined result of (i) an increase of 8.7% in sales volume, particularly in industrial control computer touchscreens, automotive touchscreens, and multi-functional printer touchscreens, partially offset by (ii) a decrease of 4.6% in the average RMB selling price of our products, and (iii) 0.5% negative impact from exchange rate due to depreciation of RMB against US dollars, compared with those of the same period of last year.
Current wording
For the nine months ended September 30, 2025, revenue from PRC market increased by $2.4 million or 9.7% as a combined result of (i) an increase of 14.8% in sales volume, particularly in industrial control computer touchscreens, automotive touchscreens, POS touchscreens and multi-functional printer touchscreens, partially offset by (ii) a decrease of 4.1% in the average RMB selling price of our products, and (iii) 0.3% negative impact from exchange rate due to depreciation of RMB against US dollars, compared with those of the same period of last year.
Previous wording
As for the RMB selling price, the decrease of 4.6% was mainly due to the lower demand of higher selling priced products of touchscreen machines in the PRC domestic market, including the decreased average RMB selling price of 25.6% inmedical touchscreens and 1.6% in industrial control computer touchscreens during the six-month period ended June 30, 2025.
Current wording
As for the RMB selling price, the decrease of 4.1% was mainly due to the lower demand of higher selling priced products of touchscreen machines in the PRC domestic market, including the decreased average RMB selling price of 18.3% in medical touchscreens and 1.2% in automotive touchscreens during the nine-month period ended September 30, 2025.
Previous wording
The Company has taken proactive efforts to market new models and efforts to obtain new customers and penetrate into new regions, our sales increased by 14.5% in South China, and 13.2% in East China, and 1.5% in Southwest China duringthe six-month period ended June 30, 2025.
Current wording
The Company has taken proactive efforts to market new models and efforts to obtain new customers in existing markets, our sales increased by 14.2% in South China, and 13.1% in East China, and 4.0% in Southwest China during the nine-month period ended September 30, 2025.
Previous wording
For the six months ended June 30, 2025, revenues from the overseas market were $9.0 million as compared to $9.9 million of the same period of 2024, representing a decrease by $0.9 million, or 9.1%, mainly due to a decrease of 7.3% in average selling price in RMB due to the lower demand on touchscreen machines in medical touchscreens, industrial control computer touchscreens, and automotive touchscreens, and 0.5% negative impact from exchange rate due to depreciation of RMB against US dollars, and the decrease of 1.2% in sales volume due to decreased sales in medical touchscreens, industrial control computer touchscreens and gaming touchscreens,
Current wording
For the nine months ended September 30, 2025, revenues from overseas market was $12.8 million as compared to $13.9 million of the same period of 2024, representing a decrease by $1.1 million, or 7.9%, mainly due to i) a decrease of 6.6% in average selling price in RMB due to the lower demand on touchscreen machines in medical touchscreens, industrial control computer touchscreens, and automotive touchscreens, ii) a decrease of 1.6% in sales volume due to decreased sales in medical touchscreens, industrial control computer touchscreens and gaming touchscreens, and iii) 0.3% negative impact from exchange rate due to depreciation of RMB against US dollars, compared with those of the same period of last year.
Previous wording
Gross profit was $9.7 million during the six months ended June 30, 2025, compared to $8.2 million in the same period of 2024. Our gross profit margin increased to 35.2% for the six months ended June 30, 2025, as compared to 30.2% for the same period of 2024, primarily due to the increase of revenues by 2.2%, particularly high-end products such as POS touchscreens, industrial control computer touchscreens, partially offset by the increase in cost of goods sold by 4.1% for the six months ended June 30, 2025.
Current wording
Gross profit was $13.7 million during the nine months ended September 30, 2025, compared to $12.6 million in the same period of 2024. Our gross profit margin increased to 34.4% for the nine months ended September 30, 2025, as compared to 32.7% for the same period of 2024, primarily due to the increase of revenue by 3.4%, particularly high-end products such as industrial control computer touchscreens, POS touchscreens and automotive touchscreens, and the decreased cost of materials by 1.2%, partially offset by the increased labor cost by 5.1% for the nine months ended September 30, 2025.
Previous wording
Selling expenses were $0.2 million for the six-month period ended June 30, 2025, compared to $0.7 million in the same period in 2024, representing a decrease of $0.5 million, or 71.4%. The decrease was primarily due to the less traveling expenses as the selling team using online communications to market the products during the six-month period ended June 30, 2025
Current wording
Selling expenses were $0.4 million for the nine months ended September 30, 2025, compared to $0.9 million in the same period in 2024, representing a decrease of $0.5 million, or 55.6%. The decrease was primarily due to the less traveling expenses as the selling team using online communications to market the products during the nine-month period ended September 30, 2025
Previous wording
General and administrative (G&A) expenses were $2.5 million for the six months ended June 30, 2025, compared to $1.3 million in the same period in 2024, representing an increase of $1.2 million, or 92.3%. The increase was primarily due to the increase of $0.4 million professional fees and $0.9 million of amortization of prepaid marketing research fees (see Note 3 of the accompanying financial statements), partially offset by the decrease of $0.1 million of miscellaneous expenses including $91,252 reversal of provision for obsolete inventory.
Current wording
General and administrative (G&A) expenses were $3.1 million for the nine months ended September 30, 2025, compared to $2.2 million in the same period in 2024, representing an increase of $0.9 million or 40.9%. The increase was primarily due to the increase of $0.6 million professional fees, $0.2 million credit loss of receivables, and $0.1 million amortization of right-of-use assets, and $0.1 million of payroll expenses, partially offset by the decrease of $0.4 million of amortization of prepaid marketing research fees (see Note 3 of the accompanying financial statements).
Previous wording
Research and development expenses were nil and $42,738 for the six months ended June 30, 2025 and 2024, respectively.
Current wording
Research and development (R&D) expenses were nil and $129,808 for the nine months ended September 30, 2025 and 2024, respectively.
Previous wording
Total operating income was $7.0 million for the six months ended June 30, 2025 as compared to $10.4 million of the same period of last year due to higher gross profit, lower selling expenses and research and development expenses, partially offset by higher general and administration expenses.
Current wording
Total operating income was $10.2 million for the nine months ended September 30, 2025 as compared to $9.5 million of the same period of last year, due to higher gross profit, less selling expenses and research and development expenses, partially offset by higher general & administration expenses.
Previous wording
Gain on changes in fair value of common stock purchase warrants was $45,572 for the six months ended June 30, 2024. (See Note 10 (b)).
Current wording
Gain on changes in fair value of common stock purchase warrants was $0.2 million for the nine months ended September 30, 2024. (See Note 10 (b)).
Previous wording
For the six months ended June 30, 2024, the Company recognized interest expenses of convertible promissory notes in the amount of $1,169,974 (mainly the default interest charges of $1,145,995 upon the repayment of the notes payable) and $71,507, respectively. (See Note 9 (a) of the accompanying financial statements).
Current wording
For the nine months ended September 30, 2024, the Company recognized interest expenses of convertible promissory notes in the amount of $1,169,974 (mainly the default interest charges of $1,145,995 upon the repayment of the notes payable (See Note 9 (a) of the accompanying financial statements).
Previous wording
The effective income tax rates for the six months ended June 30, 2025 and 2024 were 32.8% and 35.1%, respectively.
Current wording
The effective income tax rates for the nine months ended September 30, 2025 and 2024 were 28.9% and 31.6%, respectively.
Previous wording
As a result of the above factors, we had a net income of $4.8 million in the six months ended June 30, 2025 as compared to $3.3 million of the same period of last year
Current wording
As a result of the above factors, we had a net income of $7.3 million for the nine months ended September 30, 2025 compared to a net income of $5.9 million in the same period of 2024.
Previous wording
Historically, our primary uses of cash have been to finance working capital needs. We expect to be able to meet our needs to fund operations, capital expenditures, and other commitments over the next 12 months primarily with our cash and cash equivalents, operating cash flows and bank borrowings.
Current wording
Historically, our primary uses of cash have been to finance working capital needs. We expect that we will be able to meet our needs to fund operations, capital expenditures and other commitments in the next 12 months primarily with our cash and cash equivalents, operating cash flows and bank borrowings.
Previous wording
However, we may require additional cash resources due to changes in business conditions or other future developments. If these sources prove insufficient to meet our cash requirements, we may seek to raise additional funds through the sale of equity or debt securities or by obtaining a credit facility. Any issuance of additional equity or equity-linked securities could dilute the ownership interests of existing shareholders, while the incurrence of additional indebtedness would increase our debt service obligations and could subject us to operating and financial covenants that may restrict our business activities. There can be no assurance that financing will be available in the necessary amounts, on terms acceptable to us, or at all.
Current wording
We may, however, require additional cash resources due to changes in business conditions or other future developments. If these sources are insufficient to satisfy our cash requirements, we may seek to sell additional equity or debt securities or obtain a credit facility. The sale of additional equity or equity-linked securities could result in additional dilution to stockholders. The incurrence of indebtedness would result in increased debt service obligations and could result in operating and financial covenants that would restrict operations. Financing may not be available in amounts or on terms acceptable to us, or at all.
Previous wording
As of June 30, 2025, we had current assets of $123.2 million, consisting of $110.5 million in cash, $10.7 million in accounts receivable, $0.1 million in inventories, and $1.8 million in prepaid expenses and other current assets Our current liabilities as of June 30, 2025 were $5.0 million, which is comprised of $1.5 million in accounts payable, $0.6 million in amounts due to a related party, $0.9 million in income tax payable, $1.4 million in accrued expenses and other current liabilities. and $0.6 million in operating lease liabilities, current portion. We also had $0.2 million in operating lease liabilities, non- current as of June 30, 2025.
Current wording
As of September 30, 2025, we had current assets of $125.2 million, consisting of $113.2 million in cash, $10.8 million in accounts receivable, $0.1 million in inventories, and $1.1 million in prepaid expenses and other current assets Our current liabilities as of September 30, 2025 were $4.7 million, which is comprised of $1.3 million in accounts payable, $0.6 million in amounts due to a related party, $0.7 million in income tax payable, $1.5 million in accrued expenses and other current liabilities. and $0.6 million in operating lease liabilities, current portion. We also had $51,503 in operating lease liabilities, non- current as of September 30, 2025.
Previous wording
The following is a summary of our cash flows provided by (used in) operating, investing, and financing activities for the six months ended June 30, 2025 and 2024:
Current wording
The following is a summary of our cash flows provided by (used in) operating, investing, and financing activities for the nine months ended September 30, 2025 and 2024:
Previous wording
The positive cash flow for the six months ended June 30, 2025 was primarily due to i) $4.8 million net income, ii) $0.3 million of amortization of operating right-of-use assets, iii) the decrease of $0.9 million in prepaid expenses and current assets, iii) the increase of in $0.2 million accounts payable, $0.5 million due to related parties, $0.9 million in tax payable and $0.4 million in accrued expenses and current liabilities, partially offset by iv) the increase of $3.0 million in accounts receivable and v) the decrease of $0.3 million in operating lease liabilities.
Current wording
The positive cash flow of $8.5 million for the nine months ended September 30, 2025 was primarily due to i) $7.3 million net income, ii) $0.2 million of credit loss for receivable and $0.5 million of amortization of operating right-of-use assets, iii) the decrease of $1.4 million in prepaid expenses and current assets, iii) the increase of $0.5 million due to related parties, $0.7 million in income tax payable, $0.5 million in accrued expenses and current liabilities, and $0.5 million in operating lease liabilities, partially offset by iv) the increase of $3.1 million in accounts receivable.
Previous wording
The negative cash flow for the six months ended June 30, 2024 was primarily due to i) increase of $3.6 million in accounts receivable, $3.4 million in prepaid expenses and current assets, ii) the decrease of $3.4 million in accrued expenses and current liabilities, partially offset by iii) net income of $0.6 million and iv) the increase of $0.6 million in income tax payable.
Current wording
The negative cash flow of 0.7 million for the nine months ended September 30, 2024 was primarily due to i) increase of $2.1 million in accounts receivable, $2.3 million in prepaid expenses and current assets, ii) the decrease of $3.7 million in accrued expenses and current liabilities, partially offset by iii) net income of $5.9 million and iv) the increase of $0.6 million in accounts payable and $1.0 million in income tax payable.
Previous wording
There was no cash flow in investing activities for the six months ended June 30, 2025.
Current wording
There was no cash flow in investing activities for the nine months ended September 30, 2025.
Previous wording
Net cash used in investing activities for the six months ended June 30, 2024 was $0.1 million for the purchase of property, plant and equipment.
Current wording
Net cash used in investing activity for the nine months ended September 30, 2024 was $0.1 million for the purchase of property, plant and equipment.
Previous wording
There was no cash flow in financing activities for the six months ended June 30, 2025.
Current wording
There was no cash flow in financing activities for the nine months ended September 30, 2025.
Showing the first 40 of 45 pairs. Open the source sections for the rest.
Rearranged previous paragraphs (1)
Previous report — wording carried elsewhere
Based on past performance and current expectations, we believe our cash and cash equivalents provided by operating activities and financing activities will satisfy our working capital needs, capital expenditures and other liquidity requirements associated with our operations for at least the next 12 months.