Company: LASE
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0001641172-25-024367
Chunk: 23

Company: Laser Photonics Corp
Filing Date: 2025-08-15
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 and development to improve our existing laser blasting technology
and equipment and develop new products, systems and applications. We believe that these investments will sustain our position as a leader
in the laser industry and will support the development of new products that can address new markets and growth opportunities. The amount
of research and development expenses we incur may vary from period to period.

Results
of Operations

The
Company had revenue of $2,598,975 in the three months ended June 30, 2025, as compared to revenue of $623,435 in the three months ended
June 30, 2024, which represents an increase of 317% in the revenue.

Gross
profit for the three months ended in June 30, 2025, was $1,390,104 for a Gross margin of 53.5%, compared to $315,354 for a Gross Margin
of 50.6% in the three months ending June 30, 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 June 30, 2025, we recorded total expenses of $2,352,792 as compared to the three months ending in June 30,2024
of $1,246,887. SG&A expenses for the three months ending June 30, 2025, are $697,265 as compared to the three months ending in June
30,2024 of $435,776. 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.

16

Liquidity
and