Company: LASE
Filing Date: 2025-07-03
Form Type: 10-Q
Source: 0001641172-25-017657
Chunk: 3

Company: Laser Photonics Corp
Filing Date: 2025-07-03
Form: 10-Q
Item: Part I, Item 2
Chunk 3
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2024, which represents an increase
of 108% in the revenue.

Gross profit for the three
March 31, 2025, was $1,140,715 for a Gross margin of 49.8%, compared to $385,868 for a Gross Margin of 51.9% in the three months ending
March 31, 2024.

Selling, general, and administrative
(“SG&A”) expenses consist primarily of salaries and other personnel-related costs; professional fees; insurance costs;
SEC filing, compliance, and other public Company costs; travel expenses; and other sales and marketing expenses; and excludes depreciation
& amortization expenses. In the near term, we expect SG&A expenses to increase as we expand our sales and marketing efforts to
support the planned growth of our business. In the long run, we expect SG&A expenses as a percent of sales to decline as our business
grows.

For the three months ending March
31, 2025, we recorded total expenses of $2,712,289 as compared to the three months ending in March 31,2024 of $934,337. SG&A
expenses for the three months ending March 31, 2025, are $900,034 as compared to the three months ending in March 31,2024 of
$356,265. The significant increase in SG&A is primarily driven by comparative ramp up of costs in 2025 to establish our
strategic plan to increase market reach and sales force as part of our Sales & Marketing Development and Investment plan as
noted in our previous 10-Q’s in accordance with “Use of Proceeds” as stated in our most recent Form S-1
Registration Statement, coupled with higher personnel costs resulting from additional headcount, professional service fees, SEC
compliance costs, bad debt expenses, etc.

Our net loss, for the three months ending
March 31, 2025, was $ 1,680,723, as compared to net loss of $545,709 in the same period of 2024.

16

Table of Contents

Liquidity and Capital
Resources

The following is a summary
of the Company’s cash flows provided and (and used in) operating, investing, and financing activities for the quarter’s ended
on March 31, 2025, and March 31, 2024.

    Quarter Ended March 31 

    2025  
    2024