Company: NCL
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001575872-25-000691
Chunk: 115

Company: Northann Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 115
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 loss was $8,799,313 for the three months ended September 30, 2025, compared to the net income of $496,565 for the three months ended September 30, 2024. The decrease in net income was primarily due to the decrease in gross profit and increase in operating expenses.

3

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

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

  Nine Months Ended September 30,   2025  2024   Amount  of Revenue  Amount  of Revenue Revenues $ 8,689,360   100.0% $ 11,042,009   100.0%Cost of revenues  10,653,499   122.6%  6,968,809   63.1%Gross profit  (1,964,139)  (22.6)%  4,073,200   36.9%Operating expenses            Selling expenses  7,901,900   90.9%  564,805   5.1%General and administrative expenses  2,649,905   30.5%  2,521,940   22.8%Research and development expenses  1,007,783   11.6%  1,272,257   11.5%(Loss) from operations  (13,523,727)  (155.6)%  (285,802)  (2.6)%Other Income (expenses)            Interest income  15   -%  -   -Interest expense  (169,722)  (2.0)%  (399,120)  (3.6)%Other income  1,834   -%  250,248   2.3%Net (loss) before taxes  (13,691,600)  (157.6)%  (438,100)  (4.0)%Income tax benefit (expenses)  -   -%  (2,797)  -%Net (loss)   (13