Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 988

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 6
Chunk 988
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ffecting relative depreciation expense)
and the extent to which intangible assets are identifiable (affecting relative amortization expense). We also exclude certain one-time
costs associated with our IPO and non-cash costs.

(3)
We believe EBITDA and Adjusted EBITDA are helpful for investors to better understand our underlying business operations. The following
table adjusts Net Income (Loss) to EBITDA and Adjusted EBITDA years ended December 31, 2024, and 2023.

Reconciliation
of Adjusted EBITDA

    Year Ended December 31, 

    2024  
    2023 
  
    Statement of operations data: 

    Net Sales 
    $3,415,196  
    $3,939,474 
  
    Cost of Sales 
     1,934,150  
     1,041,697 
  
    Gross Profit 
     1,481,046  
     2,897,777 
  
    Operating Expenses 
     7,944,389  
     6,246,011 
  
    Income (Loss) from Operations 
     (6,463,343) 
     (3,348,234)
  
    Interest Expense 
        
     - 
  
    Other (Income) Expense 
     3,944,516  
     30,063 
  
    Income Tax Provision 
        
     - 
  
    Net Income (Loss) 
     (2,518,827) 
     (3,318,171)
  
    Income (Loss) per Common Share 
    $(0.22) 
    $(0.37)

39

Table Of Contents

ITEM
7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

General

The
following discussion and analysis of the results of operations and financial condition of the Company for the years ended December 31,
2024, and 2023 should be read in conjunction with our audited consolidated financial statements and  related notes and the description
of our business and properties included elsewhere herein.

Overview

We
are a vertically integrated manufacturing company for photonics-based industrial products and solutions and, since recently acquiring
the assets of Control Micro Systems, Inc., have now expanded the market for our laser products into a large, growing pharmaceutical
manufacturing vertical, in what we believe is a recession-resistant sector