OPTICAL CABLE CORP
For the period ended Oct 31, 2025. Filed Dec 18, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Dec 18, 2025
OCC$10.77+1.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
EX-13.1 · Item 8. Consolidated Financial Statements
Consolidated Balance Sheets
October 31, 2025 and 2024
| October 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Assets | ||
| Current assets: | ||
| Cash | $237,508 | $244,247 |
| Trade accounts receivable, net of allowance for credit losses of $72,909 in 2025 and $92,125 in 2024 | 10,280,616 | 10,946,215 |
| Income taxes refundable - current | 13,500 | 5,000 |
| Other receivables | 19,863 | 60,521 |
| Inventories | 19,801,754 | 18,725,317 |
| Prepaid expenses and other assets | 402,542 | 618,940 |
| Total current assets | 30,755,783 | 30,600,240 |
| Property and equipment, net | 6,589,517 | 6,881,357 |
| Intangible assets, net | 481,225 | 513,956 |
| Other assets, net | 2,233,256 | 2,362,458 |
| Total assets | $40,059,781 | $40,358,011 |
| Liabilities, Redeemable Common Stock and Shareholders’ Equity | ||
| Current liabilities: | ||
| Current installments of long-term debt | $2,570,793 | $57,184 |
| Note payable, revolver - current | 5,624,816 | 8,321,782 |
| Accounts payable and accrued expenses | 6,848,785 | 5,178,792 |
| Accrued compensation and payroll taxes | 1,784,207 | 1,567,232 |
| Income taxes payable | 24,688 | 18,522 |
| Total current liabilities | 16,853,289 | 15,143,512 |
| Long-term debt, excluding current installments | — | 2,570,791 |
| Other noncurrent liabilities | 1,632,587 | 1,801,792 |
| Total liabilities | 18,485,876 | 19,516,095 |
| Redeemable restricted common stock, no par value, 642,199 shares issued and outstanding as of October 31, 2025 and no shares issued and outstanding as of October 31, 2024 | 5,066,950 | — |
| Shareholders’ equity: | ||
| Preferred stock, no par value, authorized 1,000,000 shares; none issued and outstanding | — | — |
| Common stock, no par value, authorized 50,000,000 shares; issued and outstanding 8,227,871 shares in 2025 and 8,220,344 shares in 2024 | 15,743,742 | 15,464,416 |
| Retained earnings | 763,213 | 5,377,500 |
| Total shareholders’ equity | 16,506,955 | 20,841,916 |
| Commitments and contingencies | ||
| Total liabilities, redeemable common stock and shareholders' equity | $40,059,781 | $40,358,011 |
Consolidated Statements of Operations
| Years Ended October 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Net sales | $73,038,213 | $66,674,099 |
| Cost of goods sold | 50,439,277 | 48,469,327 |
| Gross profit | 22,598,936 | 18,204,772 |
| Selling, general and administrative expenses | 22,968,584 | 21,500,547 |
| Royalty expense, net | 26,285 | 26,450 |
| Amortization of intangible assets | 54,399 | 54,062 |
| Loss from operations | (450,332) | (3,376,287) |
| Other income (expense), net: | ||
| Interest expense | (1,005,276) | (1,166,630) |
| Gain on insurance proceeds, net | — | 304,307 |
| Other, net | 31,051 | 49,101 |
| Other expense, net | (974,225) | (813,222) |
| Loss before income taxes | (1,424,557) | (4,189,509) |
| Income tax expense | 30,297 | 20,702 |
| Net loss | $(1,454,854) | $(4,210,211) |
| Net loss per share - basic and diluted | $(0.18) | $(0.54) |
Consolidated Statements of Shareholders’** Equity**
| Total | ||||
|---|---|---|---|---|
| Common Stock · Retained · Shareholders’ | ||||
| Shares | Amount | Earnings | Equity | |
| Balances at October 31, 2023 | 7,893,681 | $15,134,133 | $9,587,711 | $24,721,844 |
| Share-based compensation, net | 326,663 | 330,283 | — | 330,283 |
| Net loss | — | — | (4,210,211) | (4,210,211) |
| Balances at October 31, 2024 | 8,220,344 | $15,464,416 | $5,377,500 | $20,841,916 |
| Share-based compensation, net | 7,527 | 279,326 | — | 279,326 |
| Issuance costs of redeemable common stock | — | — | (92,483) | (92,483) |
| Increase to aggregate redemption value of redeemable common stock | — | — | (3,066,950) | (3,066,950) |
| Net loss | — | — | (1,454,854) | (1,454,854) |
| Balances at October 31, 2025 | 8,227,871 | $15,743,742 | $763,213 | $16,506,955 |
Consolidated Statements of Cash Flows
Years Ended October 31, 2025 and 2024
| Years ended October 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities: | ||
| Net loss | $(1,454,854) | $(4,210,211) |
| Adjustments to reconcile net loss to net cash used in (provided by) operating activities: | ||
| Depreciation and amortization | 804,513 | 865,851 |
| Bad debt expense (recovery) | (19,216) | 20,936 |
| Share-based compensation expense | 386,639 | 443,234 |
| Gain on insurance proceeds, net | — | (304,307) |
| Loss on disposal of property and equipment | 6,292 | 3,444 |
| (Increase) decrease in: | ||
| Trade accounts receivable | 684,815 | (2,239,341) |
| Other receivables | 40,658 | 337,237 |
| Income taxes refundable | (8,500) | 76,844 |
| Inventories | (1,076,437) | 5,041,009 |
| Prepaid expenses and other assets | 216,398 | (23,471) |
| Other assets | 440,209 | 411,807 |
| Increase (decrease) in: | ||
| Accounts payable and accrued expenses | 1,552,650 | (829,091) |
| Accrued compensation and payroll taxes | 216,975 | (282,548) |
| Income taxes payable | 6,166 | (4,232) |
| Other noncurrent liabilities | (382,233) | (164,185) |
| Net cash provided by (used in) operating activities | 1,414,075 | (857,024) |
| Cash flows from investing activities: | ||
| Purchase of and deposits for the purchase of property and equipment | (295,537) | (369,630) |
| Insurance proceeds received | — | 304,307 |
| Investment in intangible assets | (21,668) | (1,821) |
| Net cash used in investing activities | (317,205) | (67,144) |
| Cash flows from financing activities: | ||
| Payroll taxes withheld and remitted on share-based payments | (107,313) | (112,951) |
| Proceeds from note payable, revolver | 73,483,031 | 65,369,765 |
| Payments on note payable, revolver | (76,179,997) | (65,372,379) |
| Principal payments on long-term debt | (57,182) | (47,270) |
| Payments for financing costs | (100,000) | (100,000) |
| Issuance of redeemable common stock, net of issuance costs | 1,907,517 | — |
| Principal payments on financing lease | (49,665) | (37,459) |
| Net cash used in financing activities | (1,103,609) | (300,294) |
| Net decrease in cash | (6,739) | (1,224,462) |
| Cash at beginning of year | 244,247 | 1,468,709 |
| Cash at end of year | $237,508 | $244,247 |
| Supplemental disclosure of cash flow information: | ||
| Cash payments for interest | $891,331 | $1,069,019 |
| Income taxes paid, net of refunds | $(25,779) | $(53,426) |
| Noncash investing and financing activities: | ||
| Capital expenditures accrued in accounts payable at year end | $55,841 | $14,982 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.