Company: NCL
Filing Date: 2025-07-01
Form Type: 10-K
Source: 0001575872-25-000433
Chunk: 14

Company: Northann Corp.
Filing Date: 2025-07-01
Form: 10-K
Item: Item 12
Chunk 14
---
	$

			15,349,854 

			$

			13,971,729

			COST OF REVENUES

			11,370,028 

			12,744,474

			GROSS PROFIT

			3,979,826

			1,214,364

			OPERATING EXPENSES

			Selling expenses

			1,071,633

			1,158,467

			General and administrative expenses

			3,798,777 

			2,920,303

			Research and development expenses

			783,356 

			1,899,299

			Total operating expenses

			5,653,766 

			5,978,069

			LOSS FROM OPERATIONS 

			(1,673,940

			)

			(4,763,705
			
			)

			OTHER INCOME (EXPENSE)

			Interest expense

			(470,900

			)

			(1,709,983

			)

			Amortization of debt discounts

			-

			(645,576

			)

			Other income

			306,404

			1,052

			Other expenses

			(32,371

			)

			-

			Impairment loss on goodwill

			(2,507,455

			)

			-

			Interest income

			120

			-

			Total other expenses, net

			(2,704,202

			)

			(2,354,507

			)

			LOSS BEFORE TAXES

			(4,378,142

			)

			(7,118,212

			)

			Income tax expense 

			(1,733

			)

			(14,361

			)

			NET LOSS

			(4,379,875

			)

			(7,132,573

			)

			Other comprehensive income (loss):

			Foreign currency translation adjustment

			1,823,453 

			(5,950

			)

			Total comprehensive loss

			(2,556,422

			)

			(7,138,523

			)

			Basic and diluted loss