US Nuclear Corp. reported significant financial developments in its 10-Q filing for the quarter ending June 30, 2024. The company achieved sales of $502,568 for the three months ended June 30, 2024, marking a 44.9% increase from $346,801 in the same period of 2023. For the six months, sales rose to $1,130,318, a 13.7% increase from $994,507 year-over-year. The growth was primarily driven by the Optron subsidiary, which saw a substantial increase in revenue, while the Overhoff subsidiary experienced a decline.
Gross profit for the second quarter surged to $258,441, compared to $34,653 in Q2 2023, reflecting a gross margin improvement from 10% to 51.4%. For the six-month period, gross profit increased to $612,210, up from $470,242, with gross margins rising to 54.2% from 47.3%. Despite these gains, the company reported a loss from operations of $(363,200) for Q2 2024, an improvement from $(565,766) in Q2 2023. The net loss for the quarter was $(455,426), down from $(871,518) in the prior year, indicating a 47.7% reduction in losses.
Total assets decreased slightly to $2,844,418 as of June 30, 2024, from $2,856,876 at the end of 2023. Current liabilities increased to $5,157,088, up from $4,839,495, contributing to a decline in total shareholders’ equity, which fell to $(2,312,670) from $(1,982,619). The company’s accumulated deficit also grew to $(18,479,357).
Cash and cash equivalents at the end of the reporting period were $137,849, down from $152,840 at the end of 2023. The company reported net cash used in operating activities of $(189,031) for the six months ended June 30, 2024, slightly improved from $(190,126) in the same period of 2023. Financing activities provided $192,121 in cash, compared to $179,348 in the prior year.
Strategically, US Nuclear Corp. is focused on enhancing its capital structure and plans to seek approximately $5 million in additional capital over the next twelve months to support its business initiatives. The company continues to develop and sell radiation detection and measuring equipment, with expectations of increased contributions from international markets, particularly South Korea and China.
About US NUCLEAR CORP.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.