ADM Endeavors, Inc. reported significant financial developments in its 10-Q filing for the three and nine months ended September 30, 2024. The company achieved total revenue of $2,166,235 for Q3 2024, marking a 12% increase from $1,984,193 in Q3 2023. For the nine-month period, revenue rose to $4,444,973, up 13% from $3,915,887 in the prior year. This growth was primarily driven by increased sales of school uniforms and new government contracts.

Despite the revenue growth, the company experienced a decline in profitability. Operating income for Q3 2024 decreased to $161,443 from $186,134 in Q3 2023, while net income fell to $125,809 from $155,609 in the same quarter of the previous year. For the nine months ended September 30, 2024, net income was $48,374, a significant drop from $162,560 in 2023. The decline in profitability was attributed to rising direct costs of revenues, which increased by 15% in Q3 2024, largely due to higher sales volumes.

Total assets as of September 30, 2024, reached $6,766,684, a substantial increase from $4,852,991 at the end of 2023. This growth was accompanied by a rise in total liabilities, which increased to $3,993,784 from $2,145,025, primarily due to a significant increase in secured notes payable, which rose to $2,938,865 from $1,226,367. Total stockholders' equity slightly increased to $2,772,900 from $2,707,966.

The company also reported a notable increase in cash, with $749,152 on hand as of September 30, 2024, compared to $301,411 at the end of 2023. Cash provided by operating activities improved to $559,125 from $350,520 in the same period last year. However, cash used in investing activities surged to $1,729,585, up from $230,570, reflecting increased investments in property and equipment.

Strategically, ADM Endeavors completed the acquisition of embroidery equipment and related assets from Innovative Impressions, Inc. on April 27, 2023. This acquisition is part of the company's focus on expanding its operations in embroidery and screen printing. The company renewed its franchise agreement in March 2024 for an additional five years, further solidifying its operational framework.

Overall, while ADM Endeavors, Inc. demonstrated revenue growth and improved cash flow from operations, it faced challenges in maintaining profitability amid rising costs and increased liabilities.