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

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Contents

Item 6. Selected Consolidated Financial Data

The following tables present portions of the Company’s consolidated financial statements. The following selected consolidated financial data set forth below should be read together with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the consolidated financial statements and related notes to the consolidated financial statements appearing elsewhere herein. The selected statements of operations data for the fiscal years ended September 30, 2023, 2022 and 2021 and the balance sheet data as of September 30, 2023 and 2022 are derived from the Company’s audited consolidated financial statements included elsewhere in this Annual Report on Form 10-K. The selected statements of operations data for the fiscal years ended September 30, 2020 and 2019 and the balance sheet data as of September 30, 2021, 2020 and 2019 are extracted from the Company’s audited consolidated financial statements that are not included in this Annual Report on Form 10-K.


	Fiscal year ended September 30,
· 2023 · 2022 · 2021 · 2020 · 2019
Statements of Operations Data: · · · · · ·
Net sales		$34,808,513	$27,740,695	$23,044,796	$21,595,199	$17,572,589
Cost of sales		13,497,442	11,066,314	10,263,166	9,793,224	7,676,119
Gross profit		21,311,071	16,674,381	12,781,630	11,801,975	9,896,470
Research and development		3,129,518	2,705,140	2,622,919	2,955,976	2,489,806
Selling, general and administrative		10,822,505	6,753,915	6,257,732	6,100,545	5,877,920
Total operating expenses		13,952,023	9,459,055	8,880,651	9,056,521	8,367,726
Operating income		7,359,048	7,215,326	3,900,979	2,745,454	1,528,744
Interest expense		(393,281)	—	—	—	—
Interest income		518,188	61,051	1,234	154,950	249,620
Other income		151,317	65,232	74,906	60,497	73,737
Income before income taxes		7,635,272	7,341,609	3,977,119	2,960,901	1,852,101
Income tax expense (benefit)		1,607,517	1,817,831	(1,087,783)	(308,882)	1,805
Net Income		$6,027,755	$5,523,778	$5,064,902	$3,269,783	$1,850,296

Net income per common share:
Basic		$0.35	$0.32	$0.29	$0.19	$0.11
Diluted		$0.35	$0.32	$0.29	$0.19	$0.11

Cash dividends declared per common share		$—	$—	$0.50	$0.65	$—

Weighted average shares outstanding:
Basic		17,411,684	17,256,750	17,225,423	16,939,302	16,867,550
Diluted		17,419,185	17,257,871	17,226,620	17,114,191	16,942,447

· · · · · · · · · · · · · · ·
	As of September 30,
· 2023 · 2022 · 2021 · 2020 · 2019
Balance Sheet Data: · · · · · ·
Cash and cash equivalents		$3,097,193	$17,250,546	$8,265,606	$12,603,967	$22,416,830
Restricted cash		—	—	—	11,180,900	—
Working capital		28,274,744	24,262,016	15,218,172	19,473,305	27,739,070
Total assets		62,957,451	34,705,323	27,086,000	41,545,837	38,557,025
Total shareholders’ equity		38,636,984	30,749,955	24,585,081	27,769,031	36,208,152

ContentsView on SEC.gov

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