INNOVATIVE SOLUTIONS & SUPPORT INC

For the period ended Sep 30, 2023. Filed Jan 12, 2024.

About 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.

FY2023 · Filed Jan 12, 2024

IA$21.30+9.5%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Statements of Operations


· · For the Fiscal Year Ended September 30,
	2023		2022		2021
Net Sales:
Product		$22,589,657		$22,400,159		$18,725,789
Customer service		11,086,062		4,879,591		4,034,294
Engineering development contracts		1,132,794		460,945		284,713
Total net sales		34,808,513		27,740,695		23,044,796

Cost of sales:
Product		9,715,517		9,402,900		8,695,568
Customer service		3,386,122		1,502,899		1,489,942
Engineering development contracts		395,803		160,515		77,656
Total cost of sales		13,497,442		11,066,314		10,263,166

Gross profit		21,311,071		16,674,381		12,781,630

Operating expenses:
Research and development		3,129,518		2,705,140		2,622,919
Selling, general and administrative		10,822,505		6,753,915		6,257,732
Total operating expenses		13,952,023		9,459,055		8,880,651

Operating income		7,359,048		7,215,326		3,900,979

Interest expense		(393,281)		—		—
Interest income		518,188		61,051		1,234
Other income		151,317		65,232		74,906
Income before income taxes		7,635,272		7,341,609		3,977,119

Income tax expense (benefit)		1,607,517		1,817,831		(1,087,783)

Net income		$6,027,755		$5,523,778		$5,064,902

Net income per common share:
Basic		$0.35		$0.32		$0.29
Diluted		$0.35		$0.32		$0.29

Weighted average shares outstanding:
Basic		17,411,684		17,256,750		17,225,423
Diluted		17,419,185		17,257,871		17,226,620

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.