Company: APT
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437749-25-015457
Chunk: 22

Company: ALPHA PRO TECH LTD
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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41 days, compared to 36 days as of December 31, 2024.

Inventory increased by $832,000, or 3.7%, to $23,565,000 as of March 31, 2025, from $22,733,000 as of December 31, 2024. The increase was due to an increase in inventory for the Building Supply segment of $904,000, or 8.3%, to $11,835,000, partially offset by a decrease in inventory for the Disposable Protective Apparel segment of $72,000, or 0.6%, to $11,730,000.

Prepaid expenses increased by $375,000, or 8.6%, to $4,751,000 as of March 31, 2025, from $4,376,000 as of December 31, 2024. The increase was primarily due to prepaid inventory, partially offset by decreased prepaid tax payments.

Right-of-use-assets as of March 31, 2025, decreased by $229,000 to $8,485,000 from $8,714,000 as of December 31, 2024, as a result of amortization of the right-of- use-assets.

Lease liabilities as of March 31, 2025, decreased by $213,000 to $8,562,000 from $8,775,000 as of December 31, 2024. The decrease in the lease liabilities was the result of lease payments made during the period.

Accounts payable and accrued liabilities as of March 31, 2025, decreased by $841,000, or 37.7%, to $1,389,000, from $2,230,000 as of December 31, 2024. The decrease was primarily due to decreases in accrued bonuses, accrued taxes and trade payables.

Net cash used in investing activities was $135,000 for the three months ended March 31, 2025, compared to net cash used in investing activities of $83,000 for 2024. Investing activities for the three months ended March 31, 2025 and 2024 consisted primarily of the purchase of property and equipment.

Net cash used in financing activities was $1,190,000 for the three months ended March 31, 2025, compared to net cash used in financing activities of $616,000 for the same period of 2024. Net cash used in financing