INNOVATIVE SOLUTIONS & SUPPORT INC

For the period ended Sep 30, 2024. Filed Dec 30, 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.

FY2024 · Filed Dec 30, 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, 2024, 2023 and 2022 and the balance sheet data as of September 30, 2024 and 2023 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, 2021 and 2020 and the balance sheet data as of September 30, 2022, 2021 and 2020 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,
· 2024 · 2023 · 2022 · 2021 · 2020
Statements of Operations Data: · · · · · ·
Net sales		$47,198,020	$34,808,513	$27,740,695	$23,044,796	$21,595,199
Cost of sales		21,284,429	13,497,442	11,066,314	10,263,166	9,793,224
Gross profit		25,913,591	21,311,071	16,674,381	12,781,630	11,801,975
Research and development		4,137,985	3,129,518	2,705,140	2,622,919	2,955,976
Selling, general and administrative		12,114,069	10,822,505	6,753,915	6,257,732	6,100,545
Total operating expenses		16,252,054	13,952,023	9,459,055	8,880,651	9,056,521
Operating income		9,661,537	7,359,048	7,215,326	3,900,979	2,745,454
Interest expense		(937,309)	(393,281)	—	—	—
Interest income		127,332	518,188	61,051	1,234	154,950
Other income		—	151,317	65,232	74,906	60,497
Income before income taxes		8,851,560	7,635,272	7,341,609	3,977,119	2,960,901
Income tax expense (benefit)		1,853,180	1,607,517	1,817,831	(1,087,783)	(308,882)
Net Income		$6,998,380	$6,027,755	$5,523,778	$5,064,902	$3,269,783

Net income per common share:
Basic		$0.40	$0.35	$0.32	$0.29	$0.19
Diluted		$0.40	$0.35	$0.32	$0.29	$0.19

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

Weighted average shares outstanding:
Basic		17,459,823	17,411,684	17,256,750	17,225,423	16,939,302
Diluted		17,480,247	17,419,185	17,257,871	17,226,620	17,114,191

· · · · · · · · · · · · · · ·
	As of September 30,
· 2024 · 2023 · 2022 · 2021 · 2020
Balance Sheet Data: · · · · · ·
Cash and cash equivalents		$538,977	$3,097,193	$17,250,546	$8,265,606	$12,603,967
Restricted cash		—	—	—	—	11,180,900
Working capital		27,420,444	28,274,744	24,262,016	15,218,172	19,473,305
Total assets		82,382,261	62,957,451	34,705,323	27,086,000	41,545,837
Total shareholders’ equity		46,638,655	38,636,984	30,749,955	24,585,081	27,769,031

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.