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Globe and Mail
6 days ago
- Business
- Globe and Mail
Cemtrex's Vicon Expands Leadership in UK Prison Security Market with New Wave of System Orders
Hauppauge, NY, June 02, 2025 (GLOBE NEWSWIRE) -- Vicon Industries, a subsidiary of Cemtrex Inc. (Nasdaq: CETX) and a leading provider of advanced security and surveillance solutions, today announced it has secured a new set of significant orders from correctional facilities in the United Kingdom. The contracts, valued at approximately $.8 million, further Vicon's position as a trusted provider in one of the world's most regulated and demanding surveillance environments. The orders came through a long-term integration partner of Vicon and include advanced surveillance hardware and software for multiple prisons and an immigration center. Each deployment features a tailored mix of Vicon's advanced outdoor dome and bullet cameras, Valerus enterprise video management licenses, and high-performance recording servers, all optimized for 24/7 operation in secure facilities. 'These repeat orders from within the UK's custodial sector underscore the critical role our technology plays in protecting secure facilities,' said Saagar Govil, Chairman and CEO of Cemtrex. 'They are a direct reflection of the value we bring including reliable performance, seamless integration, and a product roadmap aligned with the evolving needs of public infrastructure clients.' The UK correctional market is known for its stringent standards and rigorous procurement processes. Vicon's ability to consistently meet those demands is a testament to its deep engineering capabilities and commitment to long-term customer partnerships. 'Our continued traction in this sector isn't just about strong products, it's about trust earned over years of consistent delivery,' added Govil. 'As infrastructure modernization accelerates, we are proud to be a partner of choice for institutions focused on resilience, safety, and operational excellence.' These latest orders build on a multi-year track record of success in the UK market and reinforce Vicon's position as a preferred provider for critical government applications. The systems are scheduled to begin deployment this quarter and are expected to be fully delivered before the end of the fiscal year. The client, which requested confidentiality, has also indicated the potential for future orders tied to ongoing infrastructure upgrades. About Cemtrex Cemtrex, Inc. (Nasdaq: CETX) is a diversified technology company operating in the Security and Industrial sectors. Its Security segment, led by Vicon Industries, provides advanced video management software, high-performance security cameras, and integrated surveillance solutions for enterprise, government, and critical infrastructure. The Industrial segment, through Advanced Industrial Services (AIS), delivers expert rigging, millwrighting, process piping, and equipment installation services to manufacturers nationwide. With a focus on innovation, execution, and strategic growth, Cemtrex is committed to enhancing safety, efficiency, and value for its customers and shareholders. For more information, visit Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities. These forward-looking statements are based on management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading 'Risk Factors' contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law.
Globe and Mail
15-05-2025
- Business
- Globe and Mail
Cemtrex Reports Second Quarter Fiscal Year 2025 Financial Results
Brooklyn, NY, May 15, 2025 (GLOBE NEWSWIRE) -- - Cemtrex Inc. (NASDAQ: CETX, CETXP), an advanced security technology and industrial services company, has reported its financial and operational results for the fiscal second quarter ended March 31, 2024. Key Highlights for Second Fiscal Quarter 2025 Revenue increased 59% to $27.3 million, compared to revenue in the prior year quarter of $17.2 million. Operating Income totaled $4.6 million, compared to an operating loss of $1 million in Q2 FY 2024. Net Income for the period was $8.4 million, compared to a net loss of $1.5 million in Q2 FY 2024. Gross profit margin increased to 45%, up from 40% in the prior year period. Stockholders equity rose to $6.4 million, up from $4.7 million at September 30 th 2024. Management Commentary Cemtrex Chairman and CEO, Saagar Govil, commented on the results: 'We are extremely pleased with our strong second quarter performance, which reflects our team's sharp focus on execution and margin improvement. Both operating segments contributed to robust revenue growth, and we delivered a return to profitability on both an operating and net income basis. The improvement in gross margins, combined with disciplined expense management, enabled us to post over $8 million in net income this quarter. We believe this result marks an inflection point for Cemtrex. 'At Vicon, our Security segment, we benefited from the initial shipments of a record $10.4 million order and from the ramp-up of our new NEXT Modular Sensor System, which is now in full production. Our efforts to expand our presence in international markets are also beginning to show progress, with recent STQC certification in India positioning us for long-term growth in that region. Meanwhile, our Industrial Services segment, AIS, delivered solid 13% year-over-year growth and continues to execute well on large infrastructure and industrial projects.' 'We remain laser-focused on delivering shareholder value through improved profitability, strategic innovation, and operational discipline. With a strengthening balance sheet and a growing backlog, we believe we are positioned to sustain momentum through the second half of the fiscal year, and remain optimistic that fiscal 2025 financial performance will surpass fiscal 2024.' Segment Highlights: Vicon Industries: Revenue grew 110% year-over-year to $17.0 million, driven by execution of a large government order and increased demand for AI-enhanced security solutions. Gross margin improved to 52% from 51% in the prior year quarter. Operating income for the segment totaled $4.3 million, compared to a loss of $0.7 million a year ago. Advanced Industrial Services: Revenue increased 13% to $10.3 million, up from $9.1 million in the prior year period. Gross profit grew to $3.4 million, with gross margin improving to 33%. Operating income rose to $0.9 million from $0.7 million in Q2 FY2024. Metric Q2 FY2025 Q2 FY2024 % Change Revenue $27.3M $17.2M +59% Gross Profit $12.2M $6.9M +75% Gross Margin 45% 40% +500bps Operating Income $4.6M ($1.0M) N/A Net Income to CETX Shareholders $8.4M ($1.5M) N/A EPS (Basic & Diluted) $4.10 ($3,054.05) N/A As of March 31, 2025, cash and cash equivalents were $4.5 million, and total assets were $46.2 million. Inventories decreased to $6.1 million at March 31, 2025, from $7.0 million at September 30, 2024. Stockholders' equity improved to $6.4 million, exceeding Nasdaq's minimum continued listing standards. About Cemtrex Cemtrex, Inc. (Nasdaq: CETX) is a diversified technology company operating in the Security and Industrial sectors. Its Security segment, led by Vicon Industries, provides advanced video management software, high-performance security cameras, and integrated surveillance solutions for enterprise, government, and critical infrastructure. The Industrial segment, through Advanced Industrial Services (AIS), delivers expert rigging, millwrighting, process piping, and equipment installation services to manufacturers nationwide. With a focus on innovation, execution, and strategic growth, Cemtrex is committed to enhancing safety, efficiency, and value for its customers and shareholders. For more information visit Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities. These forward-looking statements are based on management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading 'Risk Factors' contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law. (Unaudited) March 31, September 30, 2025 2024 Assets Current assets Cash and cash equivalents $ 4,538,405 $ 3,897,511 Restricted cash 1,527,628 1,522,881 Trade receivables, net 12,715,992 11,159,676 Trade receivables, net - related party 550,613 685,788 Inventory, net 6,136,765 6,988,529 Contract assets, net 1,156,620 985,207 Prepaid expenses and other current assets 2,026,088 1,456,687 Total current assets 28,652,111 26,696,279 Property and equipment, net 9,813,887 9,133,578 Right-of-use operating lease assets 1,676,614 1,933,378 Royalties receivable, net - related party 272,423 456,611 Goodwill 3,708,347 3,708,347 Other 2,113,768 2,187,265 Total Assets $ 46,237,150 $ 44,115,458 Liabilities & Stockholders' Equity Current liabilities Accounts payable $ 4,001,843 $ 4,520,173 Sales tax payable 3,970 73,024 Revolving line of credit 2,867,425 3,125,011 Current maturities of long-term liabilities 9,301,045 4,732,377 Operating lease liabilities - short-term 829,644 832,823 Deposits from customers 182,855 408,415 Accrued expenses 2,764,172 1,393,902 Accrued payable on inventory in transit 242,303 640,450 Contract liabilities 1,924,425 1,254,204 Deferred revenue 1,179,536 1,297,616 Accrued income taxes 277,763 314,827 Total current liabilities 23,574,981 18,592,822 Long-term liabilities Long-term debt 9,492,824 13,270,178 Long-term operating lease liabilities 902,223 1,159,204 Other long-term liabilities 282,200 274,957 Deferred Revenue - long-term 509,882 658,019 Warrant liabilities 4,747,468 5,199,436 Total long-term liabilities 15,934,597 20,561,794 Total liabilities 39,509,578 39,154,616 Commitments and contingencies - - Stockholders' equity Preferred stock , $0.001 par value, 10,000,000 shares authorized, Series 1, 3,000,000 shares authorized, 2,579,994 shares issued and 2,515,894 shares outstanding as of March 31, 2025 and 2,456,827 shares issued and 2,392,727 shares outstanding as of September 30, 2024 (liquidation value of $10 per share) 2,580 2,457 Series C, 100,000 shares authorized, 50,000 shares issued and outstanding at March 31, 2025 and September 30, 2024 50 50 Common stock, $0.001 par value, 70,000,000 shares authorized, 1,784,581 shares issued and outstanding at March 31, 2025 and 14,176 shares issued and outstanding at September 30, 2024 1,785 14 Additional paid-in capital 95,879,333 73,262,536 Accumulated deficit (91,726,811) (71,355,386) Treasury stock, 64,100 shares of Series 1 Preferred Stock at March 31, 2025, and September 30, 2024 (148,291) (148,291) Accumulated other comprehensive income 2,394,376 2,949,297 Total Cemtrex stockholders' equity 6,403,022 4,710,677 Non-controlling interest 324,550 250,165 Total liabilities and stockholders' equity $ 46,237,150 $ 44,115,458 Cemtrex, Inc. and Subsidiaries Condensed Consolidated Statements of Operations (Unaudited) For the three months ended For the six months ended March 31, 2025 March 31, 2024 March 31, 2025 March 31, 2024 Revenues $ 27,250,269 $ 17,159,595 $ 40,990,168 $ 34,037,761 Cost of revenues 15,084,814 10,220,179 23,122,777 20,015,946 Gross profit 12,165,455 6,939,416 17,867,391 14,021,815 Operating expenses General and administrative 6,770,742 7,020,157 13,864,031 13,992,123 Research and development 777,889 951,400 1,667,972 1,800,205 Total operating expenses 7,548,631 7,971,557 15,532,003 15,792,328 Operating income/(loss) 4,616,824 (1,032,141) 2,335,388 (1,770,513) Other (expense)/income Other income, net (150,165) 144,765 (115,192) 223,176 Interest expense (452,998) (592,804) (936,911) (1,176,487) Loss on exercise of warrant liabilities - - (15,796,105) - Changes in fair value of warrant liability 4,707,374 - (5,312,838) - Total other income/(expense), net 4,104,211 (448,039) (22,161,046) (953,311) Net income/(loss) before income taxes 8,721,035 (1,480,180) (19,825,658) (2,723,824) Income tax expense 110,525 100,004 231,063 170,755 Income/(loss) from Continuing operations 8,610,510 (1,580,184) (20,056,721) (2,894,579) Income/(loss) from discontinued operations, net of tax 26,969 10,463 (240,319) 20,955 Net income/(loss) 8,637,479 (1,569,721) (20,297,040) (2,873,624) Less net income/(loss) in noncontrolling interest 254,537 (96,510) 74,385 (192,919) Net income/(loss) attributable to Cemtrex, Inc. stockholders $ 8,382,942 $ (1,473,211) $ (20,371,425) $ (2,680,705) Income/(loss) per share - Basic & Diluted Continuing Operations $ 4.10 $ (3,054.05) $ (10.62) $ (5,497.36) Discontinued Operations $ 0.01 $ 20.80 $ (0.13) $ 41.83 Weighted Average Number of Shares-Basic & Diluted 2,032,744 503 1,897,797 501 Cemtrex, Inc. and Subsidiaries Condensed Consolidated Statements of Cash Flows (Unaudited) For the six months ended March 31, 2025 2024 Cash Flows from Operating Activities Net loss $ (20,297,040) $ (2,873,624) Adjustments to reconcile net loss to net cash used by operating activities Depreciation and amortization 648,109 673,190 Loss on disposal of property and equipment 19,668 - Noncash lease expense 461,490 389,125 Goodwill impairment - - Bad debt expense 10,572 35,213 Contract modification - related party 280,545 - Share-based compensation 7,183 15,116 Income tax expense - (96,750) Shares issued to pay for services - 40,000 Accrued interest on notes payable 530,404 657,355 Non-cash royalty income (71,464) (26,564) Amortization of original issue discounts on notes payable 16,667 - Loan origination costs 5,000 36,267 Loss on exercise of warrant liabilities 15,796,105 - Changes in fair value of warrant liability 5,312,838 - Changes in operating assets and liabilities net of effects from acquisition of subsidiaries: Trade receivables (1,536,888) (2,317,074) Trade receivables - related party 66,057 (178,980) Inventory 851,764 1,341,472 Contract assets (171,413) (240,478) Prepaid expenses and other current assets (569,401) 482,853 Other assets 173,497 (225,853) Accounts payable (518,330) (455,315) Accounts payable - related party - 408 Sales tax payable (69,054) 1,658 Operating lease liabilities (464,886) (388,516) Deposits from customers (225,560) 150,274 Accrued expenses 972,123 (108,311) Contract liabilities 670,221 919,090 Deferred revenue (266,217) (252,109) Income taxes payable (38,617) (146,422) Other liabilities 7,243 (184,261) Net cash provided/(used) by operating activities 1,600,616 (2,752,236) Cash Flows from Investing Activities Purchase of property and equipment (1,359,963) (355,308) Proceeds from sale of property and equipment 13,511 - Royalties on related party revenues 10,000 - Investment in MasterpieceVR (100,000) (100,000) Net cash used by investing activities (1,436,452) (455,308) Cash Flows from Financing Activities Proceeds on revolving line of credit 18,925,223 19,360,672 Payments on revolving line of credit (19,182,809) (15,413,971) Payments on debt (240,510) (2,634,545) Payments on Paycheck Protection Program Loans (20,247) (20,242) Proceeds on bank loans - 28,331 Proceeds from notes payable 500,000 - Proceeds from warrant exercises 1,050,597 - Purchases of treasury stock - (69,705) Net cash provided by financing activities 1,032,254 1,250,540 Effect of currency translation (550,777) (304,022) Net increase/(decrease) in cash, cash equivalents, and restricted cash 1,196,418 (1,957,004) Cash, cash equivalents, and restricted cash at beginning of period 5,420,392 6,349,562 Cash, cash equivalents, and restricted cash at end of period $ 6,066,033 $ 4,088,536 Cemtrex, Inc. and Subsidiaries Condensed Consolidated Statements of Cash Flows (Continued) (Unaudited)
Associated Press
15-05-2025
- Business
- Associated Press
Cemtrex Reports Second Quarter Fiscal Year 2025 Financial Results
Brooklyn, NY, May 15, 2025 (GLOBE NEWSWIRE) -- - Cemtrex Inc. (NASDAQ: CETX, CETXP), an advanced security technology and industrial services company, has reported its financial and operational results for the fiscal second quarter ended March 31, 2024. Key Highlights for Second Fiscal Quarter 2025 Management Commentary Cemtrex Chairman and CEO, Saagar Govil, commented on the results: 'We are extremely pleased with our strong second quarter performance, which reflects our team's sharp focus on execution and margin improvement. Both operating segments contributed to robust revenue growth, and we delivered a return to profitability on both an operating and net income basis. The improvement in gross margins, combined with disciplined expense management, enabled us to post over $8 million in net income this quarter. We believe this result marks an inflection point for Cemtrex. 'At Vicon, our Security segment, we benefited from the initial shipments of a record $10.4 million order and from the ramp-up of our new NEXT Modular Sensor System, which is now in full production. Our efforts to expand our presence in international markets are also beginning to show progress, with recent STQC certification in India positioning us for long-term growth in that region. Meanwhile, our Industrial Services segment, AIS, delivered solid 13% year-over-year growth and continues to execute well on large infrastructure and industrial projects.' 'We remain laser-focused on delivering shareholder value through improved profitability, strategic innovation, and operational discipline. With a strengthening balance sheet and a growing backlog, we believe we are positioned to sustain momentum through the second half of the fiscal year, and remain optimistic that fiscal 2025 financial performance will surpass fiscal 2024.' Segment Highlights: Vicon Industries: Advanced Industrial Services: As of March 31, 2025, cash and cash equivalents were $4.5 million, and total assets were $46.2 million. Inventories decreased to $6.1 million at March 31, 2025, from $7.0 million at September 30, 2024. Stockholders' equity improved to $6.4 million, exceeding Nasdaq's minimum continued listing standards. About Cemtrex Cemtrex, Inc. (Nasdaq: CETX) is a diversified technology company operating in the Security and Industrial sectors. Its Security segment, led by Vicon Industries, provides advanced video management software, high-performance security cameras, and integrated surveillance solutions for enterprise, government, and critical infrastructure. The Industrial segment, through Advanced Industrial Services (AIS), delivers expert rigging, millwrighting, process piping, and equipment installation services to manufacturers nationwide. With a focus on innovation, execution, and strategic growth, Cemtrex is committed to enhancing safety, efficiency, and value for its customers and shareholders. For more information visit Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities. These forward-looking statements are based on management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading 'Risk Factors' contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law. Cemtrex, Inc. and Subsidiaries Condensed Consolidated Balance Sheets Cemtrex, Inc. and Subsidiaries Condensed Consolidated Statements of Operations (Unaudited) Cemtrex, Inc. and Subsidiaries Condensed Consolidated Statements of Cash Flows (Unaudited) Cemtrex, Inc. and Subsidiaries Condensed Consolidated Statements of Cash Flows (Continued) (Unaudited) Investor Relations [email protected]
Yahoo
15-05-2025
- Business
- Yahoo
Cemtrex Reports Second Quarter Fiscal Year 2025 Financial Results
Brooklyn, NY, May 15, 2025 (GLOBE NEWSWIRE) -- - Cemtrex Inc. (NASDAQ: CETX, CETXP), an advanced security technology and industrial services company, has reported its financial and operational results for the fiscal second quarter ended March 31, 2024. Key Highlights for Second Fiscal Quarter 2025 Revenue increased 59% to $27.3 million, compared to revenue in the prior year quarter of $17.2 million. Operating Income totaled $4.6 million, compared to an operating loss of $1 million in Q2 FY 2024. Net Income for the period was $8.4 million, compared to a net loss of $1.5 million in Q2 FY 2024. Gross profit margin increased to 45%, up from 40% in the prior year period. Stockholders equity rose to $6.4 million, up from $4.7 million at September 30th 2024. Management Commentary Cemtrex Chairman and CEO, Saagar Govil, commented on the results: 'We are extremely pleased with our strong second quarter performance, which reflects our team's sharp focus on execution and margin improvement. Both operating segments contributed to robust revenue growth, and we delivered a return to profitability on both an operating and net income basis. The improvement in gross margins, combined with disciplined expense management, enabled us to post over $8 million in net income this quarter. We believe this result marks an inflection point for Cemtrex. 'At Vicon, our Security segment, we benefited from the initial shipments of a record $10.4 million order and from the ramp-up of our new NEXT Modular Sensor System, which is now in full production. Our efforts to expand our presence in international markets are also beginning to show progress, with recent STQC certification in India positioning us for long-term growth in that region. Meanwhile, our Industrial Services segment, AIS, delivered solid 13% year-over-year growth and continues to execute well on large infrastructure and industrial projects.' 'We remain laser-focused on delivering shareholder value through improved profitability, strategic innovation, and operational discipline. With a strengthening balance sheet and a growing backlog, we believe we are positioned to sustain momentum through the second half of the fiscal year, and remain optimistic that fiscal 2025 financial performance will surpass fiscal 2024.' Segment Highlights: Vicon Industries: Revenue grew 110% year-over-year to $17.0 million, driven by execution of a large government order and increased demand for AI-enhanced security solutions. Gross margin improved to 52% from 51% in the prior year quarter. Operating income for the segment totaled $4.3 million, compared to a loss of $0.7 million a year ago. Advanced Industrial Services: Revenue increased 13% to $10.3 million, up from $9.1 million in the prior year period. Gross profit grew to $3.4 million, with gross margin improving to 33%. Operating income rose to $0.9 million from $0.7 million in Q2 FY2024. Metric Q2 FY2025 Q2 FY2024 % Change Revenue $27.3M $17.2M +59% Gross Profit $12.2M $6.9M +75% Gross Margin 45% 40% +500bps Operating Income $4.6M ($1.0M) N/A Net Income to CETX Shareholders $8.4M ($1.5M) N/A EPS (Basic & Diluted) $4.10 ($3,054.05) N/A As of March 31, 2025, cash and cash equivalents were $4.5 million, and total assets were $46.2 million. Inventories decreased to $6.1 million at March 31, 2025, from $7.0 million at September 30, 2024. Stockholders' equity improved to $6.4 million, exceeding Nasdaq's minimum continued listing standards. About Cemtrex Cemtrex, Inc. (Nasdaq: CETX) is a diversified technology company operating in the Security and Industrial sectors. Its Security segment, led by Vicon Industries, provides advanced video management software, high-performance security cameras, and integrated surveillance solutions for enterprise, government, and critical infrastructure. The Industrial segment, through Advanced Industrial Services (AIS), delivers expert rigging, millwrighting, process piping, and equipment installation services to manufacturers nationwide. With a focus on innovation, execution, and strategic growth, Cemtrex is committed to enhancing safety, efficiency, and value for its customers and shareholders. For more information visit Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities. These forward-looking statements are based on management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading 'Risk Factors' contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law. Cemtrex, Inc. and SubsidiariesCondensed Consolidated Balance Sheets (Unaudited) March 31, September 30, 2025 2024 Assets Current assets Cash and cash equivalents $ 4,538,405 $ 3,897,511 Restricted cash 1,527,628 1,522,881 Trade receivables, net 12,715,992 11,159,676 Trade receivables, net - related party 550,613 685,788 Inventory, net 6,136,765 6,988,529 Contract assets, net 1,156,620 985,207 Prepaid expenses and other current assets 2,026,088 1,456,687 Total current assets 28,652,111 26,696,279 Property and equipment, net 9,813,887 9,133,578 Right-of-use operating lease assets 1,676,614 1,933,378 Royalties receivable, net - related party 272,423 456,611 Goodwill 3,708,347 3,708,347 Other 2,113,768 2,187,265 Total Assets $ 46,237,150 $ 44,115,458 Liabilities & Stockholders' Equity Current liabilities Accounts payable $ 4,001,843 $ 4,520,173 Sales tax payable 3,970 73,024 Revolving line of credit 2,867,425 3,125,011 Current maturities of long-term liabilities 9,301,045 4,732,377 Operating lease liabilities - short-term 829,644 832,823 Deposits from customers 182,855 408,415 Accrued expenses 2,764,172 1,393,902 Accrued payable on inventory in transit 242,303 640,450 Contract liabilities 1,924,425 1,254,204 Deferred revenue 1,179,536 1,297,616 Accrued income taxes 277,763 314,827 Total current liabilities 23,574,981 18,592,822 Long-term liabilities Long-term debt 9,492,824 13,270,178 Long-term operating lease liabilities 902,223 1,159,204 Other long-term liabilities 282,200 274,957 Deferred Revenue - long-term 509,882 658,019 Warrant liabilities 4,747,468 5,199,436 Total long-term liabilities 15,934,597 20,561,794 Total liabilities 39,509,578 39,154,616 Commitments and contingencies - - Stockholders' equity Preferred stock , $0.001 par value, 10,000,000 shares authorized, Series 1, 3,000,000 shares authorized, 2,579,994 shares issued and 2,515,894 shares outstanding as of March 31, 2025 and 2,456,827 shares issued and 2,392,727 shares outstanding as of September 30, 2024 (liquidation value of $10 per share) 2,580 2,457 Series C, 100,000 shares authorized, 50,000 shares issued and outstanding at March 31, 2025 and September 30, 2024 50 50 Common stock, $0.001 par value, 70,000,000 shares authorized, 1,784,581 shares issued and outstanding at March 31, 2025 and 14,176 shares issued and outstanding at September 30, 2024 1,785 14 Additional paid-in capital 95,879,333 73,262,536 Accumulated deficit (91,726,811 ) (71,355,386 ) Treasury stock, 64,100 shares of Series 1 Preferred Stock at March 31, 2025, and September 30, 2024 (148,291 ) (148,291 ) Accumulated other comprehensive income 2,394,376 2,949,297 Total Cemtrex stockholders' equity 6,403,022 4,710,677 Non-controlling interest 324,550 250,165 Total liabilities and stockholders' equity $ 46,237,150 $ 44,115,458 Cemtrex, Inc. and SubsidiariesCondensed Consolidated Statements of Operations (Unaudited) For the three months ended For the six months ended March 31, 2025 March 31, 2024 March 31, 2025 March 31, 2024 Revenues $ 27,250,269 $ 17,159,595 $ 40,990,168 $ 34,037,761 Cost of revenues 15,084,814 10,220,179 23,122,777 20,015,946 Gross profit 12,165,455 6,939,416 17,867,391 14,021,815 Operating expenses General and administrative 6,770,742 7,020,157 13,864,031 13,992,123 Research and development 777,889 951,400 1,667,972 1,800,205 Total operating expenses 7,548,631 7,971,557 15,532,003 15,792,328 Operating income/(loss) 4,616,824 (1,032,141 ) 2,335,388 (1,770,513 ) Other (expense)/income Other income, net (150,165 ) 144,765 (115,192 ) 223,176 Interest expense (452,998 ) (592,804 ) (936,911 ) (1,176,487 ) Loss on exercise of warrant liabilities - - (15,796,105 ) - Changes in fair value of warrant liability 4,707,374 - (5,312,838 ) - Total other income/(expense), net 4,104,211 (448,039 ) (22,161,046 ) (953,311 ) Net income/(loss) before income taxes 8,721,035 (1,480,180 ) (19,825,658 ) (2,723,824 ) Income tax expense 110,525 100,004 231,063 170,755 Income/(loss) from Continuing operations 8,610,510 (1,580,184 ) (20,056,721 ) (2,894,579 ) Income/(loss) from discontinued operations, net of tax 26,969 10,463 (240,319 ) 20,955 Net income/(loss) 8,637,479 (1,569,721 ) (20,297,040 ) (2,873,624 ) Less net income/(loss) in noncontrolling interest 254,537 (96,510 ) 74,385 (192,919 ) Net income/(loss) attributable to Cemtrex, Inc. stockholders $ 8,382,942 $ (1,473,211 ) $ (20,371,425 ) $ (2,680,705 ) Income/(loss) per share - Basic & Diluted Continuing Operations $ 4.10 $ (3,054.05 ) $ (10.62 ) $ (5,497.36 ) Discontinued Operations $ 0.01 $ 20.80 $ (0.13 ) $ 41.83 Weighted Average Number of Shares-Basic & Diluted 2,032,744 503 1,897,797 501 Cemtrex, Inc. and SubsidiariesCondensed Consolidated Statements of Cash Flows(Unaudited) For the six months ended March 31, 2025 2024 Cash Flows from Operating Activities Net loss $ (20,297,040 ) $ (2,873,624 ) Adjustments to reconcile net loss to net cash used by operating activities Depreciation and amortization 648,109 673,190 Loss on disposal of property and equipment 19,668 - Noncash lease expense 461,490 389,125 Goodwill impairment - - Bad debt expense 10,572 35,213 Contract modification - related party 280,545 - Share-based compensation 7,183 15,116 Income tax expense - (96,750 ) Shares issued to pay for services - 40,000 Accrued interest on notes payable 530,404 657,355 Non-cash royalty income (71,464 ) (26,564 ) Amortization of original issue discounts on notes payable 16,667 - Loan origination costs 5,000 36,267 Loss on exercise of warrant liabilities 15,796,105 - Changes in fair value of warrant liability 5,312,838 - Changes in operating assets and liabilities net of effects from acquisition of subsidiaries: Trade receivables (1,536,888 ) (2,317,074 ) Trade receivables - related party 66,057 (178,980 ) Inventory 851,764 1,341,472 Contract assets (171,413 ) (240,478 ) Prepaid expenses and other current assets (569,401 ) 482,853 Other assets 173,497 (225,853 ) Accounts payable (518,330 ) (455,315 ) Accounts payable - related party - 408 Sales tax payable (69,054 ) 1,658 Operating lease liabilities (464,886 ) (388,516 ) Deposits from customers (225,560 ) 150,274 Accrued expenses 972,123 (108,311 ) Contract liabilities 670,221 919,090 Deferred revenue (266,217 ) (252,109 ) Income taxes payable (38,617 ) (146,422 ) Other liabilities 7,243 (184,261 ) Net cash provided/(used) by operating activities 1,600,616 (2,752,236 ) Cash Flows from Investing Activities Purchase of property and equipment (1,359,963 ) (355,308 ) Proceeds from sale of property and equipment 13,511 - Royalties on related party revenues 10,000 - Investment in MasterpieceVR (100,000 ) (100,000 ) Net cash used by investing activities (1,436,452 ) (455,308 ) Cash Flows from Financing Activities Proceeds on revolving line of credit 18,925,223 19,360,672 Payments on revolving line of credit (19,182,809 ) (15,413,971 ) Payments on debt (240,510 ) (2,634,545 ) Payments on Paycheck Protection Program Loans (20,247 ) (20,242 ) Proceeds on bank loans - 28,331 Proceeds from notes payable 500,000 - Proceeds from warrant exercises 1,050,597 - Purchases of treasury stock - (69,705 ) Net cash provided by financing activities 1,032,254 1,250,540 Effect of currency translation (550,777 ) (304,022 ) Net increase/(decrease) in cash, cash equivalents, and restricted cash 1,196,418 (1,957,004 ) Cash, cash equivalents, and restricted cash at beginning of period 5,420,392 6,349,562 Cash, cash equivalents, and restricted cash at end of period $ 6,066,033 $ 4,088,536 Cemtrex, Inc. and SubsidiariesCondensed Consolidated Statements of Cash Flows (Continued)(Unaudited) Balance Sheet Accounts Included in Cash, Cash Equivalents, and Restricted Cash Cash and cash equivalents $ 4,538,405 $ 2,916,120 Restricted cash 1,527,628 1,172,416 Total cash, cash equivalents, and restricted cash $ 6,066,033 $ 4,088,536 Supplemental Disclosure of Cash Flow Information: Cash paid during the period for interest $ 389,840 $ 482,865 Cash paid during the period for income taxes, net of refunds $ 269,680 $ 146,422 Supplemental Schedule of Non-Cash Investing and Financing Activities Shares issued to pay for services $ - $ 40,000 Financing of fixed asset purchase $ - $ 28,331 Noncash recognition of new leases $ 204,726 $ - Series A Warrant Exercises $ 21,515,777 $ - CONTACT: Investor Relations investors@ in to access your portfolio
Globe and Mail
12-05-2025
- Business
- Globe and Mail
Cemtrex's Vicon Secures Prestigious STQC Certification, Strengthening its Position in High-Growth Indian Market
Hauppauge, NY, May 12, 2025 (GLOBE NEWSWIRE) -- – Vicon Industries, a subsidiary of Cemtrex Inc. (Nasdaq: CETX) and a leading provider of advanced security and surveillance solutions, today announced that it has officially received the STQC certification from India's Ministry of Electronics and Information Technology (MeitY), marking a major milestone in the company's global expansion strategy. With this certification, Vicon becomes one of the select few surveillance manufacturers to meet the stringent cybersecurity and quality standards under India's IoT Security Compliance for Surveillance Cameras Scheme (IoTSCS-ER). The designation enables Vicon to market and sell its certified products into India's regulated government, infrastructure, and smart city segments, sectors that are otherwise closed to non-certified providers. 'This certification gives us a powerful entry point into one of the fastest-growing surveillance markets in the world,' said Saagar Govil, Chairman and CEO of Cemtrex. 'Most global manufacturers lack this certification and are therefore excluded from bidding on government or regulated projects in India. We now have a distinct first-mover advantage as the only premium brand certified for these opportunities.' India's video surveillance market is projected to exceed $3 billion by 2027, driven by nationwide security upgrades, urban development, and the expansion of smart cities. However, regulatory barriers have limited foreign participation, creating pent-up demand for high-quality, compliant solutions from trusted global brands. Vicon's certification removes this barrier and positions the company to capitalize on untapped demand in both the public and private sectors. As part of its STQC-certified offering, Vicon's Valerus Video Management System (VMS) is fully compliant and built to support complex, large-scale deployments across critical infrastructure, education, transportation, and public sector environments. With its intuitive interface, centralized control, and advanced cybersecurity architecture, Valerus delivers a comprehensive, enterprise-grade solution that meets India's strictest technical and regulatory requirements. 'India is modernizing rapidly, and safety, security, and quality are now top priorities,' said Gaurav Taywade, Managing Director of Vicon India. 'Earning STQC certification is more than just a regulatory milestone, it's a strategic gateway into one of the most dynamic infrastructure build-outs happening anywhere in the world. India is constructing vast amounts of critical infrastructure including new train stations, airports, seaports, power plants, university campuses, research centers, and highways, all requiring advanced, reliable security solutions. As a certified premium global brand, Vicon is uniquely positioned to support this growth with secure, AI-powered surveillance systems that are easy to install, built to last, and designed to meet the evolving demands of modern infrastructure. We're excited to partner with Indian organizations to help build a safer, smarter, and more connected future.' About Cemtrex Cemtrex, Inc. (Nasdaq: CETX) is a diversified technology company operating in the Security and Industrial sectors. Its Security segment, led by Vicon Industries, provides advanced video management software, high-performance security cameras, and integrated surveillance solutions for enterprise, government, and critical infrastructure. The Industrial segment, through Advanced Industrial Services (AIS), delivers expert rigging, millwrighting, process piping, and equipment installation services to manufacturers nationwide. With a focus on innovation, execution, and strategic growth, Cemtrex is committed to enhancing safety, efficiency, and value for its customers and shareholders. For more information, visit Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities. These forward-looking statements are based on management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading 'Risk Factors' contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law.
