Total Revenue

Declined ≈3% (from $2,584,755 to $2,505,488)

Total Revenue decreased slightly, suggesting a modest contraction in sales volumes or pricing adjustments relative to Q3 2023, signaling a potential leveling off in market demand compared to the previous period. " "

Gross Profit

Declined ≈38% (from $2,027,499 to $1,259,626)

Gross Profit fell sharply by nearly 38%, indicating significant margin compression possibly caused by increased cost of revenue or reduced pricing power compared to the robust margins of Q3 2023. " "

Operating Income

Declined 48% (from $1,548,699 to $803,494)

Operating Income dropped by 48% YoY; this drastic decline reflects the impact of lower gross margins and rising operational expenses that eroded profitability compared to the previous period’s performance. " "

Net Income

Dropped ≈50% (from $1,172,591 to $580,885)

Net Income decreased by roughly 50%, mirroring the deterioration in operating income and suggesting that increased expenses and lower margins in Q3 2024 considerably diminished overall profitability versus Q3 2023. " "

Basic Net Income Per Share

Declined from $1.20 to $0.59

Basic Net Income Per Share fell significantly, in line with the halved net income, reflecting the diluted earnings on a per-share basis compared to the stronger performance in Q3 2023. " "

Cash and Cash Equivalents

Dropped ≈17% (from $6,157,409 to $5,078,426)

Cash and Cash Equivalents declined by approximately 17% YoY, likely due to increased cash usage in investing activities or subdued operating cash inflows relative to the higher balances recorded in Q3 2023. " "

Total Current Liabilities

Decreased significantly (from $1,886,934 to $801,961)

Total Current Liabilities fell markedly, indicating improved short-term financial health; this change suggests effective management of working capital—such as a sizeable reduction in accrued expenses—that improved liquidity compared to Q3 2023. " "

Operating Cash Flow

Negative outflow of $922,141

Operating Cash Flow turned negative with a net outflow of $922,141, a reversal from the positive flows in Q3 2023, driven by a steep decline in net income and adverse changes in working capital dynamics, highlighting operational challenges that were not evident in the prior period. "