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Midas Edge

INNOVATIVE SOLUTIONS & SUPPORT INC

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

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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$21.53+1.1%Stored close · as of Nov 10, 2026

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

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Contents

Item 8. Consolidated Statements of Cash Flows

​​​​​​​​​​
​ · ​ · For the Fiscal Year Ended September 30,
​202420232022
CASH FLOWS FROM OPERATING ACTIVITIES:​​​​​​​​​
Net income​$6,998,380​$6,027,755​$5,523,778
Adjustments to reconcile net income to net cash provided by operating activities:​​​​​​​​​
Depreciation and amortization​2,097,942​697,943​368,499
Share-based compensation expense​​​​​​​​​
Stock options​301,101​756,198​166,617
Restricted stock awards​702,191​694,230​173,325
Impairment of long-lived assets​​—​​44,400​​—
Gain on disposal of property and equipment​(160,577)​—​(1,191,743)
Excess and obsolete inventory cost​—​44,308​—
Deferred income taxes​(1,136,809)​9,503​1,017,335
(Increase) decrease in:​​​​​​​​​
Accounts receivable​(2,868,768)​(5,446,257)​(251,120)
Contract assets​(1,192,921)​(324,397)​(162,742)
Inventories​(2,338,176)​(834,917)​(708,859)
Prepaid expenses and other current assets​811,669​69,458​(309,394)
Other non-current assets​(294,969)​(101,356)​—
Increase (decrease) in:​​​​​​​​​
Accounts payable​978,203​628,430​85,224
Accrued expenses​624,346​203,754​1,272,826
Income taxes payable​1,077,488​(257,055)​269,015
Contract liabilities​197,122​(115,823)​(158,321)
Net cash provided by operating activities​5,796,222​2,096,174​6,094,440
​​​​​​​​​​
CASH FLOWS FROM INVESTING ACTIVITIES:​​​​​​​​​
Purchases of property and equipment​(657,790)​(298,373)​(161,230)
Acquisition of assets​​(4,249,460)​​—​​—
Acquisition of a business​(14,200,000)​(35,860,000)​—
Proceeds from the sale of property and equipment​​2,225,810​​—​​2,750,576
Net cash (used in) provided by investing activities​(16,881,440)​(36,158,373)​2,589,346
​​​​​​​​​​
CASH FLOWS FROM FINANCING ACTIVITIES:​​​​​​​​​
Proceeds from exercise of stock options​—​408,846​301,154
Debt payments​​(43,825,825)​​(500,000)​​—
Debt proceeds​​52,352,827​​20,000,000​​—
Net cash provided by financing activities​8,527,002​19,908,846​301,154
​​​​​​​​​​
Net (decrease) increase in cash and cash equivalents​(2,558,216)​(14,153,353)​8,984,940
Cash and cash equivalents, beginning of year​3,097,193​17,250,546​8,265,606
​​​​​​​​​​
Cash and cash equivalents, end of year​$538,977​$3,097,193​$17,250,546
​​​​​​​​​​
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION​​​​​​​​​
Cash paid for income taxes​$1,913,456​$1,855,069​$531,481
Cash paid for interest​​847,085​​260,889​​—
​​​​​​​​​​
SUPPLEMENTAL DISCLOSURE OF NONCASH INFORMATION​​​​​​​​​
Transfer from prepaid inventory to purchases of property and equipment​$3,327,000​​—​​—
Transfer from prepaid inventory to inventory​​4,254,492​​—​​—
Transfer from prepaid inventory to goodwill​​516,580​​—​​—
Transfer from prepaid inventory to intangible assets, net​​800,000​​—​​—
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.