Company: NCL
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001575872-25-000691
Chunk: 33

Company: Northann Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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30, 2025, there were no material contingencies, significant provisions of long-term obligations, mandatory dividend or redemption requirements of redeemable stocks or guarantees of the Company, except for those which have been separately disclosed in the Consolidated Financial Statements, if any.

F-20

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Results of Operations

Comparison for the Three Months Ended September 30, 2025 and 2024

The following table sets forth key components of our results of operations for the three months ended September 30, 2025 and 2024, both in dollars and as a percentage of our revenues.

  Three Months Ended September 30,   2025  2024   Amount  of Revenue  Amount  of Revenue Revenues $ 3,545,412   100.0% $ 2,557,585   100.0%Cost of revenues  4,986,401   140.6%  929,002   36.3%Gross profit  (1,440,989)  (40.6)%  1,628,583   63.7%Operating expenses            Selling expenses  6,362,313   179.5%  159,368   6.2%General and administrative expenses  662,331   18.7%  575,678   22.5%Research and development expenses  289,545   8.2%  340,072   13.3%(Loss) Income from operations  (8,755,178)  (246.9)%  553,465   21.6%Other Income (expenses)            Interest income  4   -%  -   -Interest expense  (45,988)  (1.3)%  (53,476)  (2.1)%Other income  1,849   0.1%  -   -Other expenses  -   -    (3,426)  (0.1)%Net (loss) income before taxes  (8,799,313)  (248.2)%  496,563   19.4%Income tax benefit (expenses)  -   -%