INNOVATIVE SOLUTIONS & SUPPORT INC
For the period ended Mar 31, 2024. Filed May 14, 2024.
View on SEC.govAbout this filing
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.
Mar 31, 2024 · Filed May 14, 2024
IA$21.30+9.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Balance Sheets
| | | | | | | |
|---|---|---|---|---|---|---|
| · March 31, · September 30, | ||||||
| · · 2024 · · 2023 | ||||||
| · · · · · | ||||||
| ASSETS | | | | | | |
| Current assets | | | | | | |
| Cash and cash equivalents | | $574,079 | | $3,097,193 | ||
| Accounts receivable | | 6,061,185 | | 9,743,714 | ||
| Contract assets | | 1,230,607 | | 487,139 | ||
| Inventories | | | 9,120,870 | | 6,139,713 | |
| Prepaid inventory | | | 6,775,822 | | | 12,069,114 |
| Prepaid expenses and other current assets | | 711,772 | | 1,073,012 | ||
| Assets held for sale | | — | | 2,063,818 | ||
| | | | | | | |
| Total current assets | | | 24,474,335 | | | 34,673,703 |
| | | | | | | |
| Goodwill | | | 3,557,886 | | | 3,557,886 |
| Intangible assets, net | | | 15,648,321 | | | 16,185,321 |
| Property and equipment, net | | 12,450,425 | | 7,892,427 | ||
| Deferred income taxes | | | 1,173,227 | | | 456,392 |
| Other assets | | 319,704 | | 191,722 | ||
| | | | | | | |
| Total assets | | $57,623,898 | | $62,957,451 | ||
| | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | |
| | | | | | | |
| Current liabilities | | | | | | |
| Current portion of long-term debt | | $10,642,885 | | $2,000,000 | ||
| Accounts payable | | | 2,647,123 | | | 1,337,275 |
| Accrued expenses | | 2,415,095 | | 2,918,325 | ||
| Contract liability | | | 96,650 | | | 143,359 |
| | | | | | | |
| Total current liabilities | | | 15,801,753 | | | 6,398,959 |
| | | | | | | |
| Long-term debt | | | — | | | 17,500,000 |
| Other liabilities | | | 444,440 | | | 421,508 |
| | | | | | | |
| Total liabilities | | | 16,246,193 | | | 24,320,467 |
| | | | | | | |
| Commitments and contingencies (See Note 6) | | | | | | |
| | | | | | | |
| Shareholders’ equity | | | | | | |
| | | | | | | |
| Preferred stock, 10,000,000 shares authorized, $.001 par value, of which 200,000 shares are authorized as Class A Convertible stock. No shares issued and outstanding at March 31, 2024 and September 30, 2023 | | — | | — | ||
| | | | | | | |
| Common stock, $.001 par value: 75,000,000 shares authorized, 19,556,434 and 19,543,441 issued at March 31, 2024 and September 30, 2023, respectively | | | 19,556 | | | 19,543 |
| | | | | | | |
| Additional paid-in capital | | 54,792,307 | | 54,317,265 | ||
| Retained earnings | | 7,934,379 | | 5,668,713 | ||
| Treasury stock, at cost, 2,096,451 shares at March 31, 2024 and at September 30, 2023 | | (21,368,537) | | (21,368,537) | ||
| | | | | | | |
| Total shareholders’ equity | | | 41,377,705 | | | 38,636,984 |
| | | | | | | |
| Total liabilities and shareholders’ equity | | $57,623,898 | | $62,957,451 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.