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2026-10-29
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Related articleQuarter not tagged2026-10-29

Cemtrex Reports Preliminary Fourth Quarter and Fiscal Year 2026 Results

GlobeNewswire
Fourth quarter operating income of $1.4 million and Operating EBITDA of $1.9 million; revenue up 22% year-over-year to $22.7 million Hauppauge, NY, Oct. 29, 2026 (GLOBE NEWSWIRE) -- – Cemtrex, Inc. (Nasdaq: CETX, CETXP) today reported preliminary, unaudited results for the fourth fiscal quarter and fiscal year ended September 30, 2026. Final results will be reported in the Company's Annual Report on Form 10-K. Key Highlights - Fourth quarter revenue increased 22% year-over-year to $22.7 million, and 23% sequentially from Q3. Fiscal 2026 revenue was $75.3 million, compared to $76.5 million in fiscal 2025, which included a single $10.4 million Security technology sale. - Fourth quarter gross margin was 46.3%, compared to 38.0% in the prior-year fourth quarter and 41.7% in Q3. - Fourth quarter operating income was $1.4 million, compared to operating losses of $1.2 million in both the prior-year fourth quarter and Q3, and includes a $0.5 million non-cash gain from the release of contingent consideration related to the Plant Engineering Services acquisition. Fiscal 2026 operating loss was $4.8 million, compared to operating income of $0.5 million in fiscal 2025. - Fourth quarter Operating EBITDA was $1.9 million, compared to a loss of $0.6 million in Q3 and a loss of $0.8 million in the prior-year fourth quarter. Fiscal 2026 Operating EBITDA was a loss of $2.8 million, compared to $1.9 million in fiscal 2025. Operating EBITDA is a non-GAAP measure defined and reconciled below. - Completed three acquisitions during fiscal 2026: Invocon (January), Richland Industrial, now AIS Tennessee (February), and Plant Engineering Services (July). An additional Industrial Services acquisition is under letter of intent. - At September 30, 2026, stockholders' equity was $35.7 million, compared to $8.7 million a year earlier; working capital was $10.6 million, compared to $5.2 million; and warrant liabilities were $2.8 million, compared to $8.7 million. Management Commentary Cemtrex Chairman and CEO, Saagar Govil, commented on the results: "The fourth quarter continued the sequential improvement we have reported through the year. Operating results moved from an operating loss of $2.8 million in the first quarter to operating income of $1.4 million in the fourth, with revenue up 22% year-over-year and gross margin of 46%. The Security segment, now operating on the cost base establ…Read full document

Fourth quarter operating income of $1.4 million and Operating EBITDA of $1.9 million; revenue up 22% year-over-year to $22.7 million Hauppauge, NY, Oct. 29, 2026 (GLOBE NEWSWIRE) -- – Cemtrex, Inc. (Nasdaq: CETX, CETXP) today reported preliminary, unaudited results for the fourth fiscal quarter and fiscal year ended September 30, 2026. Final results will be reported in the Company's Annual Report on Form 10-K. Key Highlights - Fourth quarter revenue increased 22% year-over-year to $22.7 million, and 23% sequentially from Q3. Fiscal 2026 revenue was $75.3 million, compared to $76.5 million in fiscal 2025, which included a single $10.4 million Security technology sale. - Fourth quarter gross margin was 46.3%, compared to 38.0% in the prior-year fourth quarter and 41.7% in Q3. - Fourth quarter operating income was $1.4 million, compared to operating losses of $1.2 million in both the prior-year fourth quarter and Q3, and includes a $0.5 million non-cash gain from the release of contingent consideration related to the Plant Engineering Services acquisition. Fiscal 2026 operating loss was $4.8 million, compared to operating income of $0.5 million in fiscal 2025. - Fourth quarter Operating EBITDA was $1.9 million, compared to a loss of $0.6 million in Q3 and a loss of $0.8 million in the prior-year fourth quarter. Fiscal 2026 Operating EBITDA was a loss of $2.8 million, compared to $1.9 million in fiscal 2025. Operating EBITDA is a non-GAAP measure defined and reconciled below. - Completed three acquisitions during fiscal 2026: Invocon (January), Richland Industrial, now AIS Tennessee (February), and Plant Engineering Services (July). An additional Industrial Services acquisition is under letter of intent. - At September 30, 2026, stockholders' equity was $35.7 million, compared to $8.7 million a year earlier; working capital was $10.6 million, compared to $5.2 million; and warrant liabilities were $2.8 million, compared to $8.7 million. Management Commentary Cemtrex Chairman and CEO, Saagar Govil, commented on the results: "The fourth quarter continued the sequential improvement we have reported through the year. Operating results moved from an operating loss of $2.8 million in the first quarter to operating income of $1.4 million in the fourth, with revenue up 22% year-over-year and gross margin of 46%. The Security segment, now operating on the cost base established in January, was the largest contributor. Fiscal 2026 was a year of building the platform. We completed three acquisitions, established the Aerospace & Defense segment, grew Industrial Services revenue 11%, and restructured the Security business from a $4.4 million operating loss in the first half of the year to $2.0 million of operating income in the second half. Cost optimization at AIS Tennessee, which is expected to conclude in fiscal 2027, and the milestone-driven timing of Invocon's revenue weighed on results in the fourth quarter, as we have discussed in prior periods. We remain under letter of intent on an additional Industrial Services acquisition." Segment Results Security. Fourth quarter revenue was $10.8 million, an increase of 28% from the prior-year fourth quarter and 71% sequentially from Q3, with gross margin of 53% and segment operating income of $2.3 million, compared to a segment operating loss of $0.3 million in Q3. Results include approximately $0.8 million of tariff refunds recognized during the quarter; excluding the refunds, segment operating income was approximately $1.5 million. For fiscal 2026, Security revenue was $28.3 million and the segment operating loss was $2.3 million, consisting of a $4.4 million loss in the first half of the year and $2.0 million of operating income in the second half. Industrial Services. Fourth quarter revenue was $10.8 million, an increase of 6% year-over-year, with gross margin of 35% and segment operating income of $0.2 million, compared to a segment operating loss of $0.7 million in Q3. Plant Engineering Services, acquired July 1, 2026, contributed $1.2 million of revenue in its first quarter at approximately breakeven. AIS Tennessee incurred an operating loss of approximately $0.9 million in the quarter; cost optimization at the operation has been underway and is expected to conclude in fiscal 2027. The $0.5 million release of contingent consideration related to the Plant Engineering Services acquisition is not included in Industrial Services segment operating income and is shown as a separate line in the segment table below. For fiscal 2026, Industrial Services revenue increased 11% to $42.4 million and segment operating income was $1.6 million. Aerospace & Defense. Fourth quarter revenue was $1.1 million with a segment operating loss of $0.2 million, compared to revenue of $2.2 million and segment operating income of $1.0 million in Q3, reflecting the timing of program milestones following a milestone-heavy third quarter. From the January 8, 2026 acquisition date through September 30, 2026, the segment generated $4.5 million of revenue and $0.4 million of segment operating income, with .4 million of amortization costs included. Condensed Financial Summary Metric | Q4 FY2026 | Q4 FY2025 | Q3 FY2026 | FY2026 | FY2025 Revenue | $22.7M | $18.5M | $18.4M | $75.3M | $76.5M Gross profit | $10.5M | $7.0M | $7.7M | $30.7M | $32.3M Gross margin | 46.3 | % | 38.0 | % | 41.7 | % | 40.7 | % | 42.2 | % Operating income (loss) | $1.4M | ($1.2M) | ($1.2M) | ($4.8M) | $0.5M Operating EBITDA | $1.9M | ($0.8M) | ($0.6M) | ($2.8M) | $1.9M Net income (loss) attributable to Cemtrex stockholders | $1.7M | ($3.4M) | ($4.5M) | ($22.4M) | ($28.1M) Q4 FY2026 Segment Summary Segment | Q4 FY2026 Revenue | Q4 FY2025 Revenue | Gross Profit | Gross Margin | Operating Income (Loss) Security | $10.8M | $8.4M | $5.7M | 53.3 | % | $2.3M Industrial Services | $10.8M | $10.1M | $3.8M | 35.2 | % | $0.2M Aerospace & Defense | $1.1M | — | $1.0M | 86.8 | % | ($0.2M) Corporate | $0.0M | $0.0M | $0.0M | — | | ($1.5M) Release of contingent consideration | — | — | — | — | | $0.5M Consolidated | $22.7M | $18.5M | $10.5M | 46.3 | % | $1.4M Condensed Balance Sheet Summary | September 30, 2026 | September 30, 2025 Cash and cash equivalents | $3.2M | $5.0M Restricted cash | $1.6M | $1.4M Short-term investments | $3.4M | $0.0M Cash, restricted cash and short-term investments | $8.2M | $6.4M Trade receivables, net | $14.2M | $13.1M Inventory, net | $8.1M | $6.6M Working capital | $10.6M | $5.2M Total assets | $73.2M | $47.8M Total debt | $15.3M | $13.5M Warrant liabilities | $2.8M | $8.7M Total liabilities | $37.5M | $39.1M Stockholders' equity | $35.7M | $8.7M Non-GAAP Financial Measure: Operating EBITDA The Company presents Operating EBITDA as a primary measure of operating performance. Operating EBITDA is defined as operating income (loss) before depreciation and amortization. Management believes this measure reflects the performance of the Company's operating businesses without the effects of financing activities and other non-operating items, and provides investors with a consistent basis for evaluating operating trends across periods. Operating EBITDA is a non-GAAP financial measure and should be considered in addition to, and not as a substitute for, operating income (loss), net income (loss), or other measures prepared in accordance with GAAP. The following table reconciles Operating EBITDA to operating income (loss), the most directly comparable GAAP measure: | Q4 FY2026 | Q4 FY2025 | Q3 FY2026 | FY2026 | FY2025 Operating income (loss) | $ | 1,358,863 | $ | (1,183,161 | ) | $ | (1,193,142 | ) | $ | (4,812,476 | ) | $ | 509,826 Depreciation and amortization | | 577,672 | | 394,608 | | | 581,651 | | | 1,998,469 | | | 1,355,538 Operating EBITDA | $ | 1,936,535 | $ | (788,553 | ) | $ | (611,491 | ) | $ | (2,814,007 | ) | $ | 1,865,364 Additional details will be available in the Company's Annual Report on Form 10-K to be filed with the Securities and Exchange Commission. Preliminary Results The financial results in this release are preliminary, unaudited, and based on information available to management as of the date of this release. They have been prepared by management and have not been audited or reviewed by the Company's independent registered public accounting firm, which does not express an opinion or any other form of assurance with respect to them. The preliminary results remain subject to the completion of the Company's year-end closing procedures, the audit of its financial statements, the finalization of purchase price allocations for acquisitions completed during fiscal 2026, impairment testing, and the determination of the Company's income tax provision, among other matters. Adjustments arising from these procedures could be material, and final results could differ from the preliminary results presented here. These preliminary results are not a substitute for full financial statements prepared in accordance with GAAP and should not be viewed as such. The Company expects to file its Annual Report on Form 10-K for the fiscal year ended September 30, 2026 on or before December 29th, 2026. About Cemtrex Cemtrex, Inc. (Nasdaq: CETX) is a diversified industrial and technology company operating across the Security, Industrial, and Aerospace & Defense sectors. The Company's Security segment, led by Vicon Industries, provides advanced video management software, high-performance security cameras, and integrated surveillance solutions for enterprise, government, and critical infrastructure customers. Its Industrial segment, through Advanced Industrial Services (AIS), delivers specialized rigging, millwrighting, process piping, and equipment installation services to manufacturers nationwide. Cemtrex's Aerospace & Defense segment, anchored by Invocon, provides mission-critical engineering, instrumentation, and sensing solutions supporting aerospace, defense, and space-based programs. With a focus on disciplined execution and strategic growth, Cemtrex is committed to building durable businesses that enhance safety, reliability, and long-term value for its customers and shareholders. For more information, visit www.cemtrex.com. Investor Relations: [email protected] Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the anticipated operational performance, potential acquisitions, strategic initiatives, closing of any offerings, gross proceeds from any offerings, our new product offerings, expected use of proceeds, or any proposed fundraising activities, and statements regarding preliminary financial results. These forward-looking statements are based on management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward-looking statements, including the risk that final audited results differ from the preliminary results presented in this release. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading "Risk Factors" contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release, and we undertake no duty to update this information unless required by law. CONTACT: Investor Relations: [email protected]

Related articleQuarter not tagged2026-08-14

Cemtrex Reports Third Quarter Fiscal 2026 Financial Results

GlobeNewswire
Operating cash flow turned positive for the quarter as sequential Operating EBITDA improved by $1 million Hauppauge, NY, Aug. 14, 2026 (GLOBE NEWSWIRE) -- – Cemtrex, Inc. (Nasdaq: CETX, CETXP) today reported results for the 2026 third fiscal quarter ended June 30, 2026. Key Highlights for Third Fiscal Quarter 2026 Revenue increased 9% year-over-year to $18.4 million, up 2% sequentially from the second fiscal quarter. Consolidated operating loss narrowed to $1.2 million from $2.2 million in Q2, the second consecutive quarter of sequential improvement. Operating EBITDA improved to a loss of $0.6 million, from a loss of $1.7 million in Q2 and a loss of $2.5 million in Q1. Operating EBITDA is a non-GAAP measure defined and reconciled below. Security segment operating loss narrowed to $0.3 million, from $1.4 million in Q2 and $3.0 million in Q1, as the segment approaches operating breakeven. Security gross margin improved to 49%, from 44% in Q2 and 39% in Q1. Aerospace & Defense segment generated $2.2 million of revenue, up 79% sequentially, and $1.0 million of segment operating income in its second quarter of consolidation. Operating cash flow was positive $0.2 million during Q3, compared to $5.1 million of cash used in operations during the first half of the fiscal year. Completed the acquisition of Plant Engineering Services in July 2026, subsequent to quarter end. An additional Industrial Services acquisition is currently under letter of intent. Working capital was $13.2 million at June 30, 2026, and stockholders’ equity was $32.0 million, compared to $5.2 million and $8.7 million, respectively, at September 30, 2025. Management Commentary Cemtrex Chairman and CEO, Saagar Govil, commented on the results: “The third fiscal quarter showed measurable progress on each of the operational priorities we laid out earlier this year. Consolidated operating loss narrowed by nearly half sequentially, Operating EBITDA improved by $1 million, and operating cash flow turned positive during the quarter. These results were not driven by any single item; they reflect the cumulative effect of the restructuring at Vicon, the contribution from Invocon, and continued revenue growth across the platform. The clearest evidence of execution this quarter was in our Security segment. Vicon’s segment operating loss narrowed to $0.3 million from $3.0 million in Q1, driven by the full effe…Read full document

Operating cash flow turned positive for the quarter as sequential Operating EBITDA improved by $1 million Hauppauge, NY, Aug. 14, 2026 (GLOBE NEWSWIRE) -- – Cemtrex, Inc. (Nasdaq: CETX, CETXP) today reported results for the 2026 third fiscal quarter ended June 30, 2026. Key Highlights for Third Fiscal Quarter 2026 Revenue increased 9% year-over-year to $18.4 million, up 2% sequentially from the second fiscal quarter. Consolidated operating loss narrowed to $1.2 million from $2.2 million in Q2, the second consecutive quarter of sequential improvement. Operating EBITDA improved to a loss of $0.6 million, from a loss of $1.7 million in Q2 and a loss of $2.5 million in Q1. Operating EBITDA is a non-GAAP measure defined and reconciled below. Security segment operating loss narrowed to $0.3 million, from $1.4 million in Q2 and $3.0 million in Q1, as the segment approaches operating breakeven. Security gross margin improved to 49%, from 44% in Q2 and 39% in Q1. Aerospace & Defense segment generated $2.2 million of revenue, up 79% sequentially, and $1.0 million of segment operating income in its second quarter of consolidation. Operating cash flow was positive $0.2 million during Q3, compared to $5.1 million of cash used in operations during the first half of the fiscal year. Completed the acquisition of Plant Engineering Services in July 2026, subsequent to quarter end. An additional Industrial Services acquisition is currently under letter of intent. Working capital was $13.2 million at June 30, 2026, and stockholders’ equity was $32.0 million, compared to $5.2 million and $8.7 million, respectively, at September 30, 2025. Management Commentary Cemtrex Chairman and CEO, Saagar Govil, commented on the results: “The third fiscal quarter showed measurable progress on each of the operational priorities we laid out earlier this year. Consolidated operating loss narrowed by nearly half sequentially, Operating EBITDA improved by $1 million, and operating cash flow turned positive during the quarter. These results were not driven by any single item; they reflect the cumulative effect of the restructuring at Vicon, the contribution from Invocon, and continued revenue growth across the platform. The clearest evidence of execution this quarter was in our Security segment. Vicon’s segment operating loss narrowed to $0.3 million from $3.0 million in Q1, driven by the full effect of the cost reduction program completed in January and pricing actions implemented earlier this year. Our Aerospace & Defense segment also delivered its first full quarter of profitability, with Invocon contributing $1.0 million of segment operating income on $2.2 million of revenue as deferred revenue from long-cycle programs began converting into recognized results, as we anticipated last quarter. Our acquisition strategy continued to build the platform. Subsequent to quarter end, we completed the acquisition of Plant Engineering Services, which adds upstream engineering capability to AIS and opens automotive and defense manufacturing end markets, and we are under letter of intent on an additional Industrial Services acquisition. AIS Tennessee’s restructuring weighed on Industrial Services results this quarter and completing that turnaround is a clear near-term objective. We acquired the business because we believed its long-term value materially exceeded the purchase price, not because we expected immediate profitability. While the integration and operational improvements continue, we remain confident that the acquisition will create meaningful long-term value for shareholders. The trajectory of the consolidated business is materially better than it was six months ago: two consecutive quarters of sequential improvement in operating results, positive operating cash flow, a strengthened balance sheet, and a higher-quality mix of businesses. The drivers of that improvement are structural rather than one-time in nature.” Third Quarter Fiscal 2026 Financial Results Revenue. Revenue was $18.4 million, an increase of 9% from $17.0 million in the prior-year third quarter and an increase of 2% sequentially from Q2. The year-over-year increase was driven by the addition of the Aerospace & Defense segment and 6% growth in Industrial Services revenue, partially offset by lower Security segment revenue. Gross profit. Gross profit was $7.7 million, or 42% of revenue, compared to $7.4 million, or 43% of revenue, in the prior-year third quarter, and $6.8 million, or 38% of revenue, in Q2. The sequential margin improvement was driven primarily by pricing actions in the Security segment and the margin profile of Aerospace & Defense revenue recognized during the quarter. Operating EBITDA. Operating EBITDA, defined as operating income (loss) before depreciation and amortization, was a loss of $0.6 million, compared to a loss of $1.7 million in Q2 and a loss of $2.5 million in Q1. The sequential improvement of approximately $1.0 million was driven primarily by the continued benefits of restructuring and pricing actions at Vicon and the contribution from Invocon. A reconciliation to operating loss, the most directly comparable GAAP measure, is provided below. Operating loss. Operating loss was $1.2 million, compared to $2.2 million in Q2 and $0.6 million in the prior-year third quarter. The sequential improvement reflects the same drivers described above; the year-over-year comparison reflects higher depreciation and amortization from acquisitions completed during fiscal 2026 and the AIS Tennessee restructuring period. Net loss. Net loss attributable to Cemtrex stockholders was $4.5 million, compared to $4.6 million in the prior-year third quarter. The difference between operating loss and net loss during the quarter was driven principally by non-operating items, including $1.1 million of interest expense and $2.2 million of non-cash changes in the fair value of warrant liabilities. Operating cash flow. Cash provided by operations was $0.2 million during the third quarter, compared to $5.1 million of cash used in operations during the first six months of the fiscal year, reflecting the improvement in operating results. Balance sheet. At June 30, 2026, cash, cash equivalents, restricted cash, and marketable securities totaled $13.0 million. Working capital was $13.2 million, compared to $5.2 million at September 30, 2025, and stockholders’ equity was $32.0 million, compared to $8.7 million at September 30, 2025. Segment Results Security. The Security segment, operated under Vicon, reported revenue of $6.3 million, an increase of 8% sequentially from Q2, and a segment operating loss of $0.3 million, compared to segment operating losses of $1.4 million in Q2 and $3.0 million in Q1, representing a 90% reduction in operating loss from Q1 to Q3. Gross margin improved sequentially to 49%, from 44% in Q2 and 39% in Q1. The improvement over the past two quarters reflects the cost reduction program completed in January 2026, which is now fully reflected in the segment’s expense base, and pricing actions implemented beginning in Q1. Revenue declined from $7.6 million in the prior-year third quarter, primarily due to shipping delays resulting from increased production time on certain component products; the Company is purchasing additional inventory to address this supply constraint. Gross margin declined from 52% in the prior year quarter due to increased component costs, tariffs, and fuel surcharges on shipping. The Company has applied for tariff refunds. Industrial Services. The Industrial Services segment reported revenue of $10.0 million, an increase of 6% year-over-year, and a segment operating loss of $0.7 million, compared to segment operating income of $0.7 million in Q2. The decline was driven primarily by AIS Tennessee, which generated an operating loss exceeding $1 million during the quarter as restructuring actions continued, including workforce and project portfolio changes intended to bring the operation to AIS’s standards. Core AIS (ex-AIS TN) remained profitable during the quarter. AIS Tennessee was acquired earlier this year for approximately $600,000, alongside the separate $4.9 million purchase of its primary facility, in a transaction that resulted in a preliminary bargain purchase gain of approximately $2.1 million under purchase accounting. While the business continues to impact current operating results as restructuring efforts progress, management believes the long-term economics of the acquisition remain compelling. The restructuring period now underway was priced into the transaction and completing the turnaround remains a top priority. Subsequent to quarter end, the segment expanded with the acquisition of Plant Engineering Services, a Fort Wayne, Indiana-based engineering firm specializing in the design, modernization, and relocation of large hydraulic and mechanical press systems, adding engineering capability upstream of AIS’s installation, rigging, and millwrighting services and extending the platform into automotive and defense end markets. Aerospace & Defense. The Aerospace & Defense segment, operated under Invocon, reported revenue of $2.2 million, an increase of 79% sequentially from $1.2 million in Q2, and segment operating income of $1.0 million in its second quarter of consolidation. As discussed last quarter, Invocon’s operations are characterized by long-cycle programs with revenue recognized as performance milestones are met. During Q3, the achievement of program milestones drove recognized revenue and profitability meaningfully above the segment’s cost base for the period, converting a portion of the deferred revenue position built in prior periods. Quarterly results in this segment will continue to reflect the timing of program milestones. The segment’s profitability in its second quarter of ownership supports the acquisition thesis and the strategic importance of the aerospace and defense end market to the Company’s portfolio. Condensed Financial Summary Q3 FY2026 Segment Summary Non-GAAP Financial Measure: Operating EBITDA Beginning this quarter, the Company is presenting Operating EBITDA as a primary measure of operating performance. Operating EBITDA is defined as operating income (loss) before depreciation and amortization. Management believes this measure reflects the performance of the Company’s operating businesses without the effects of financing activities and other non-operating items, and provides investors with a consistent basis for evaluating operating trends across periods. Operating EBITDA is a non-GAAP financial measure and should be considered in addition to, and not as a substitute for, operating income (loss), net income (loss), or other measures prepared in accordance with GAAP. The following table reconciles Operating EBITDA to operating loss, the most directly comparable GAAP measure: Additional details are available in the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission. About Cemtrex Cemtrex, Inc. (Nasdaq: CETX) is a diversified industrial and technology company operating across the Security, Industrial, and Aerospace & Defense sectors. The Company’s Security segment, led by Vicon Industries, provides advanced video management software, high-performance security cameras, and integrated surveillance solutions for enterprise, government, and critical infrastructure customers. Its Industrial segment, through Advanced Industrial Services (AIS), delivers specialized rigging, millwrighting, process piping, and equipment installation services to manufacturers nationwide. Cemtrex’s Aerospace & Defense segment, anchored by Invocon, provides mission-critical engineering, instrumentation, and sensing solutions supporting aerospace, defense, and space-based programs. With a focus on disciplined execution and strategic growth, Cemtrex is committed to building durable businesses that enhance safety, reliability, and long-term value for its customers and shareholders. For more information, visit www.cemtrex.com. Investor Relations: [email protected] Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the anticipated operational performance, potential acquisitions, strategic initiatives, closing of any offerings, gross proceeds from any offerings, our new product offerings, expected use of proceeds, or any proposed fundraising activities. These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law. CONTACT: [email protected]

Related articleQuarter not tagged2026-05-16

Cemtrex Reports Fiscal Year 2026 Second Quarter Financial Results

GlobeNewswire
Hauppauge, NY, May 15, 2026 (GLOBE NEWSWIRE) -- Cemtrex, Inc. (Nasdaq: CETX, CETXP) today reported results for the 2026 second fiscal quarter ended March 31, 2026. Key Highlights for Second Fiscal Quarter 2026 Industrial Services segment revenue increased 7% year-over-year to $11.0 million. AIS (excluding recently acquired AIS TN) generated approximately $1 million of operating earnings on $9.7 million of revenue during the second fiscal quarter — an approximately 10% operating margin, fully consistent with AIS's historical profile. Aerospace & Defense segment launched with $1.2 million of revenue in its first quarter of consolidation, and $0.8 million of contract liabilities (deferred revenue) on the balance sheet supporting future quarters. Security segment gross margin improved approximately 500 basis points sequentially to 44% in Q2 from approximately 39% in Q1, reflecting initial benefits from pricing actions and the cost reduction program recently implemented. Stockholders' equity increased to $34.7 million at March 31, 2026, from $8.7 million at September 30, 2025, an improvement of approximately $26 million. Working capital improved to $12.6 million at March 31, 2026, from $5.2 million at September 30, 2025. Completed the acquisitions of Invocon (January 2026, launching the Aerospace & Defense segment) and Richland Industries (February 2026, expanding Industrial Services). Currently under letter of intent on an additional Industrial Services acquisition, with further details to be provided as that transaction progresses. Management Commentary Cemtrex Chairman and CEO, Saagar Govil, commented on the results: "The second fiscal quarter was a period of significant expansion at Cemtrex. We completed two acquisitions, launched a new Aerospace & Defense segment, materially strengthened our balance sheet, and continued executing on the cost and pricing actions in our Security segment that we previously announced. The performance of each operating segment is described below. Industrial Services. Our Industrial Services segment reported $11.0 million of revenue, up 7% year-over-year, and $0.7 million of segment operating income on a consolidated basis. The reported segment margin understates AIS's underlying performance. AIS, excluding AIS TN, generated approximately $1 million of operating earnings on $9.7 million of revenue during the second fiscal quarter…Read full document

Hauppauge, NY, May 15, 2026 (GLOBE NEWSWIRE) -- Cemtrex, Inc. (Nasdaq: CETX, CETXP) today reported results for the 2026 second fiscal quarter ended March 31, 2026. Key Highlights for Second Fiscal Quarter 2026 Industrial Services segment revenue increased 7% year-over-year to $11.0 million. AIS (excluding recently acquired AIS TN) generated approximately $1 million of operating earnings on $9.7 million of revenue during the second fiscal quarter — an approximately 10% operating margin, fully consistent with AIS's historical profile. Aerospace & Defense segment launched with $1.2 million of revenue in its first quarter of consolidation, and $0.8 million of contract liabilities (deferred revenue) on the balance sheet supporting future quarters. Security segment gross margin improved approximately 500 basis points sequentially to 44% in Q2 from approximately 39% in Q1, reflecting initial benefits from pricing actions and the cost reduction program recently implemented. Stockholders' equity increased to $34.7 million at March 31, 2026, from $8.7 million at September 30, 2025, an improvement of approximately $26 million. Working capital improved to $12.6 million at March 31, 2026, from $5.2 million at September 30, 2025. Completed the acquisitions of Invocon (January 2026, launching the Aerospace & Defense segment) and Richland Industries (February 2026, expanding Industrial Services). Currently under letter of intent on an additional Industrial Services acquisition, with further details to be provided as that transaction progresses. Management Commentary Cemtrex Chairman and CEO, Saagar Govil, commented on the results: "The second fiscal quarter was a period of significant expansion at Cemtrex. We completed two acquisitions, launched a new Aerospace & Defense segment, materially strengthened our balance sheet, and continued executing on the cost and pricing actions in our Security segment that we previously announced. The performance of each operating segment is described below. Industrial Services. Our Industrial Services segment reported $11.0 million of revenue, up 7% year-over-year, and $0.7 million of segment operating income on a consolidated basis. The reported segment margin understates AIS's underlying performance. AIS, excluding AIS TN, generated approximately $1 million of operating earnings on $9.7 million of revenue during the second fiscal quarter — an approximately 10% operating margin, fully consistent with AIS's historical profile. AIS TN, during the same period, generated an operating loss of approximately $0.3 million. We acquired Richland Industries, now AIS TN, with $600,000 attributed to the purchase of the business and $4,900,000 for the property. The purchase of the business was at a substantial discount to book value because the business required a period of restructuring, and that discount is reflected in the $2.1 million bargain purchase gain recorded in the quarter. We expect AIS TN to contribute $8 to $10 million in revenue over the next twelve months and to approach AIS's historical margin profile as restructuring is completed by the end of the current fiscal year. Aerospace & Defense. Invocon, in its first quarter of consolidation, contributed $1.2 million of revenue and a segment operating loss of approximately $0.4 million. The reported revenue figure understates underlying business activity. Invocon's operations are characterized by long-cycle programs with revenue recognized as performance milestones are met, while the cost base is incurred in the current period. At quarter end, the segment carried approximately $0.8 million of contract liabilities (deferred revenue) on the balance sheet. As that deferred revenue converts in coming quarters, recognized revenue is expected to catch up to underlying activity, and we expect the segment to move toward operating profitability. Subsequent to quarter end, Invocon was awarded a Phase I Small Business Innovation Research contract with the Naval Sea Systems Command, further validating the segment's technical positioning and growing relevance to U.S. Navy programs. Security. Our Security segment, operated under Vicon, reported $5.8 million of Q2 revenue compared to $17.0 million in the prior-year second quarter. The prior-year period included a single approximately $10.4 million security technology sale that did not recur. Excluding that one-time sale, underlying Security segment revenue was approximately $6.6 million in the prior-year quarter compared to $5.8 million this quarter — a year-over-year decline of approximately 12% on an underlying basis, reflecting the softer government and public-sector demand environment we discussed last quarter. Security gross margin improved approximately 500 basis points sequentially, to 44% in Q2 from approximately 39% in Q1, reflecting the initial benefit of pricing adjustments implemented during Q1. In January 2026 we completed a restructuring at Vicon that carried approximately $200,000 of one-time expenses in the quarter and, together with related actions, is expected to deliver $2.5 to $3.0 million of annualized cost savings, with the bulk of those savings being more evident in the third fiscal quarter. Subsequent to quarter end, we have begun to see government and public-sector customer activity, which had stalled at below historical levels during the first quarter, ramping back up. We continue to expect the combination of cost actions, pricing improvements, and recovering public-sector demand to drive continued improvement in Security performance over the coming quarters. Capital structure and acquisition activity. During the first half of fiscal 2026, we materially strengthened the Company's capital position. Stockholders' equity increased to $34.7 million at March 31, 2026 from $8.7 million at September 30, 2025, an improvement of approximately $26 million. Working capital improved to $12.6 million from $5.2 million. These improvements were driven by equity offerings, warrant exercises, and the satisfaction of certain debt obligations through the issuance of common stock. This strengthened balance sheet, combined with the operating platforms we have assembled, enables us to continue pursuing disciplined acquisitions. With Invocon and Richland completed and contributing, we are currently under letter of intent on an additional acquisition within our Industrial Services segment, with further details to be provided as that transaction progresses. Our goal is to maintain or accelerate the current pace of acquisition activity as we continue building a diversified industrial and technology platform. Our consolidated Q2 results were weighed down by three identifiable, time-bound factors: AIS TN's restructuring period, Invocon's revenue recognition timing, and the residual impact of cost actions at Vicon that have not yet fully annualized. Each is on a defined path. AIS, excluding TN, is performing at historical margins today. Invocon's deferred revenue supports catch-up in coming quarters. Vicon's cost actions will increasingly flow through, and pricing improvements are already visible in the gross margin line. With two acquisitions integrated, a third under letter of intent, a Navy program win, and a balance sheet repositioned to support further growth, Cemtrex is meaningfully better positioned exiting the second fiscal quarter than entering it." Condensed Financial Summary (Fiscal Q2 2026) Revenue: $18.1 million Gross profit: $6.8 million Gross margin: 38% Operating loss: $2.2 million Bargain purchase gain (reported in other income per GAAP): $2.1 million Net income attributable to Cemtrex stockholders: $0.9 million Cash, cash equivalents, restricted cash, and marketable securities: $12.9 million Working capital: $12.6 million Stockholders' equity: $34.7 million Additional details are available in the Company's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission. About Cemtrex Cemtrex, Inc. (Nasdaq: CETX) is a diversified industrial and technology company operating across the Security, Industrial, and Aerospace & Defense sectors. The Company's Security segment, led by Vicon Industries, provides advanced video management software, high-performance security cameras, and integrated surveillance solutions for enterprise, government, and critical infrastructure customers. Its Industrial segment, through Advanced Industrial Services (AIS), delivers specialized rigging, millwrighting, process piping, and equipment installation services to manufacturers nationwide. Cemtrex's Aerospace & Defense segment, anchored by Invocon, provides mission-critical engineering, instrumentation, and sensing solutions supporting aerospace, defense, and space-based programs. With a focus on disciplined execution and strategic growth, Cemtrex is committed to building durable businesses that enhance safety, reliability, and long-term value for its customers and shareholders. For more information, visit www.cemtrex.com. Investor Relations: [email protected] Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the anticipated operational performance, potential acquisitions, strategic initiatives, closing of any offerings, gross proceeds from any offerings, our new product offerings, expected use of proceeds, or any proposed fundraising activities. These forward-looking statements are based on management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading "Risk Factors" contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law. CONTACT: Investor Relations: [email protected]

Related articleQuarter not tagged2026-02-18

Cemtrex Reports Fiscal Year 2026 First Quarter Financial Results

GlobeNewswire
Hauppauge, NY, Feb. 17, 2026 (GLOBE NEWSWIRE) -- – Cemtrex, Inc. (Nasdaq: CETX, CETXP) today reported results for the 2026 first fiscal quarter ended December 31, 2025. Key Highlights for First Fiscal Quarter 2026 Revenues for Q1 ’26 increased 17% to $16.1 million, compared to revenue in the prior year of $13.7 million. Industrial segment revenue increased 28% to $10.6 million, compared to revenue in the prior year of $8.3 million. Security segment revenue increased 1% to $5.5 million, compared to revenue in the prior year of $5.4 million. Cash and cash equivalents increased 312% to $20.5 million, compared to the prior year of $5 million. Management Commentary Cemtrex Chairman and CEO, Saagar Govil, commented on the results: “Fiscal Q1 2026 was a quarter of decisive action. We strengthened our balance sheet, delivered continued revenue growth driven by our Industrial segment. Operating loss for the quarter was $2.8 million, compared to $2.3 million in the prior year period, primarily reflecting lower gross margin in Security and certain one-time expenses, including a write-off of obsolete demo equipment and elevated legal and transaction costs related to acquisition activity and other matters. Excluding these non-recurring items, our focus remains on improving segment contribution and lowering the run-rate cost structure. In Security, we saw gross margin compression driven by tariff related cost pressures and softer demand from certain government and corrections customers during the quarter, which was below typical historical levels amid broader public-sector budget and shutdown-related disruptions. We responded by implementing pricing adjustments and reducing overhead by approximately $2.5 to $3.0 million on an annualized basis, which went into full effect in early Q2. We expect the impact of these actions to be reflected over the coming quarters, and we anticipate one-time restructuring charges in the current fiscal quarter associated with these reductions. Our objective is to restore the Security segment toward its historical gross margin profile over the coming quarters while positioning Vicon as a disciplined, durable earnings platform. Early adoption of our NEXT camera line continues to build, and we remain confident in the long-term competitive positioning of the business. In Industrial, revenue increased 28% to $10.6 million, a record quarter for the…Read full document

Hauppauge, NY, Feb. 17, 2026 (GLOBE NEWSWIRE) -- – Cemtrex, Inc. (Nasdaq: CETX, CETXP) today reported results for the 2026 first fiscal quarter ended December 31, 2025. Key Highlights for First Fiscal Quarter 2026 Revenues for Q1 ’26 increased 17% to $16.1 million, compared to revenue in the prior year of $13.7 million. Industrial segment revenue increased 28% to $10.6 million, compared to revenue in the prior year of $8.3 million. Security segment revenue increased 1% to $5.5 million, compared to revenue in the prior year of $5.4 million. Cash and cash equivalents increased 312% to $20.5 million, compared to the prior year of $5 million. Management Commentary Cemtrex Chairman and CEO, Saagar Govil, commented on the results: “Fiscal Q1 2026 was a quarter of decisive action. We strengthened our balance sheet, delivered continued revenue growth driven by our Industrial segment. Operating loss for the quarter was $2.8 million, compared to $2.3 million in the prior year period, primarily reflecting lower gross margin in Security and certain one-time expenses, including a write-off of obsolete demo equipment and elevated legal and transaction costs related to acquisition activity and other matters. Excluding these non-recurring items, our focus remains on improving segment contribution and lowering the run-rate cost structure. In Security, we saw gross margin compression driven by tariff related cost pressures and softer demand from certain government and corrections customers during the quarter, which was below typical historical levels amid broader public-sector budget and shutdown-related disruptions. We responded by implementing pricing adjustments and reducing overhead by approximately $2.5 to $3.0 million on an annualized basis, which went into full effect in early Q2. We expect the impact of these actions to be reflected over the coming quarters, and we anticipate one-time restructuring charges in the current fiscal quarter associated with these reductions. Our objective is to restore the Security segment toward its historical gross margin profile over the coming quarters while positioning Vicon as a disciplined, durable earnings platform. Early adoption of our NEXT camera line continues to build, and we remain confident in the long-term competitive positioning of the business. In Industrial, revenue increased 28% to $10.6 million, a record quarter for the segment, reflecting operational discipline and growing demand for our services. We continue to secure infrastructure related projects and enter 2026 with a strong pipeline as we build operating momentum across the platform. During the quarter we materially improved financial flexibility through equity raises and debt settlements, increasing working capital and strengthening our capital structure. Subsequent to quarter end, we completed the acquisitions of Invocon and Richland Industries, expanding our operating footprint and earnings base. Invocon establishes our Aerospace and Defense segment and expands our presence in mission critical engineering markets. Richland strengthens AIS’s geographic reach and fabrication capabilities in the Southeast. Contributions from both acquisitions will begin to be reflected starting in the second fiscal quarter. As we enter the second quarter, the Company expects the combined impact of cost actions in Security and earnings contributions from recently completed acquisitions to improve performance. Our focus for fiscal 2026 is restoring segment margins, expanding operating income, and strengthening cash flow generation across the platform. We remain focused on disciplined execution and capital allocation as we build a diversified platform designed to deliver durable operating income over time. We continue to pursue acquisitions that fit our criteria for durable margins and cash generation.” Condensed Financial Summary (Fiscal Q1 2026) Revenue: $16.1 million Gross profit: $5.6 million Gross margin: 35% Operating loss: $2.8 million Net loss: $20.6 million, primarily driven by non-cash items related to debt settlement Cash and cash equivalents: $20.5 million Additional details are available in the Company’s Quarterly Report on Form 10 Q filed with the Securities and Exchange Commission. About Cemtrex Cemtrex, Inc. (Nasdaq: CETX) is a diversified industrial and technology company operating across the Security, Industrial, and Aerospace & Defense sectors. The Company’s Security segment, led by Vicon Industries, provides advanced video management software, high-performance security cameras, and integrated surveillance solutions for enterprise, government, and critical infrastructure customers. Its Industrial segment, through Advanced Industrial Services (AIS), delivers specialized rigging, millwrighting, process piping, and equipment installation services to manufacturers nationwide. Cemtrex’s Aerospace & Defense segment, anchored by Invocon, provides mission-critical engineering, instrumentation, and sensing solutions supporting aerospace, defense, and space-based programs. With a focus on disciplined execution and strategic growth, Cemtrex is committed to building durable businesses that enhance safety, reliability, and long-term value for its customers and shareholders. For more information, visit www.cemtrex.com. Investor Relations: [email protected] Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the anticipated operational performance, potential acquisitions, strategic initiatives, closing of any offerings, gross proceeds from any offerings, our new product offerings, expected use of proceeds, or any proposed fundraising activities. These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law. CONTACT: Investor Relations: [email protected]

Related articleQuarter not tagged2025-12-30

Cemtrex Reports Full Fiscal Year 2025 Financial Results

GlobeNewswire
Company Achieves Full-Year Operating Profit and $76.5 Million in Revenue, Up 14% Year-Over-Year Hauppauge, NY, Dec. 29, 2025 (GLOBE NEWSWIRE) -- — Cemtrex, Inc. (Nasdaq: CETX, CETXP) (“Cemtrex” or the “Company”), a diversified technology company operating in security and industrial markets, today reported financial results for its fiscal year ended September 30th, 2025, headlined by a return to operating profit for the year. Key Highlights for Fiscal Year 2025 Revenue for FY 2025 achieved $76.5 million, compared to $66.9 million in FY 2024. Revenues for the Security segment for FY 2025 achieved $38.4 million, compared to $31 million in FY 2024, an increase of 20%. Revenues for the Industrial Services segment for FY 2025 increased to $38 million, compared to $34.8 million in FY 2024, an increase of 9%. Gross profit for FY 2025, was $32.3 million or 42% of revenues as compared to gross profit of $27.5 million or 41% of revenues for FY 2024. Operating income of $.5 million for FY 2025, compared to an operating loss of $5.3 million, an improvement of $5.8 million. Fiscal 2025 results demonstrate increasing operating leverage, with gross profit growth materially outpacing growth in operating expenses. Cemtrex’s CEO and Chairman, Saagar Govil, commented on the results: “Fiscal 2025 marked a major operating inflection for Cemtrex. We grew revenue by nearly $10 million year over year, expanded gross profit, and improved operating income by approximately $5.8 million, returning the Company to positive operating profit. “Importantly, these results were achieved while we were actively investing in capital markets initiatives to restore liquidity and flexibility. As certain of those activities and other expenses are not expected to recur, we expect further improvement in core operating performance going forward.” Segment Performance Industrial Services Segment Industrial Services segment revenue increased year over year, driven by sustained demand across manufacturing, infrastructure, and industrial end markets. AIS continued to benefit from disciplined project selection, improved execution, and operating leverage Gross margins improved as scale increased and project mix normalized The segment remains a core cash-generating business and a key contributor to long term growth Security Segment Security segment revenue increased year over year, supported by enterprise and g…Read full document

Company Achieves Full-Year Operating Profit and $76.5 Million in Revenue, Up 14% Year-Over-Year Hauppauge, NY, Dec. 29, 2025 (GLOBE NEWSWIRE) -- — Cemtrex, Inc. (Nasdaq: CETX, CETXP) (“Cemtrex” or the “Company”), a diversified technology company operating in security and industrial markets, today reported financial results for its fiscal year ended September 30th, 2025, headlined by a return to operating profit for the year. Key Highlights for Fiscal Year 2025 Revenue for FY 2025 achieved $76.5 million, compared to $66.9 million in FY 2024. Revenues for the Security segment for FY 2025 achieved $38.4 million, compared to $31 million in FY 2024, an increase of 20%. Revenues for the Industrial Services segment for FY 2025 increased to $38 million, compared to $34.8 million in FY 2024, an increase of 9%. Gross profit for FY 2025, was $32.3 million or 42% of revenues as compared to gross profit of $27.5 million or 41% of revenues for FY 2024. Operating income of $.5 million for FY 2025, compared to an operating loss of $5.3 million, an improvement of $5.8 million. Fiscal 2025 results demonstrate increasing operating leverage, with gross profit growth materially outpacing growth in operating expenses. Cemtrex’s CEO and Chairman, Saagar Govil, commented on the results: “Fiscal 2025 marked a major operating inflection for Cemtrex. We grew revenue by nearly $10 million year over year, expanded gross profit, and improved operating income by approximately $5.8 million, returning the Company to positive operating profit. “Importantly, these results were achieved while we were actively investing in capital markets initiatives to restore liquidity and flexibility. As certain of those activities and other expenses are not expected to recur, we expect further improvement in core operating performance going forward.” Segment Performance Industrial Services Segment Industrial Services segment revenue increased year over year, driven by sustained demand across manufacturing, infrastructure, and industrial end markets. AIS continued to benefit from disciplined project selection, improved execution, and operating leverage Gross margins improved as scale increased and project mix normalized The segment remains a core cash-generating business and a key contributor to long term growth Security Segment Security segment revenue increased year over year, supported by enterprise and government customers. Vicon maintained strong gross margins while benefiting from increased scale The segment continued to progress toward greater operating leverage as volumes increased The business remains focused on expanding its technology portfolio and strengthening its competitive position Balance Sheet and Liquidity Update Subsequent to fiscal year-end, Cemtrex completed a series of capital and balance sheet actions that: Reduced outstanding debt by approximately $7.8 million Improved liquidity by approximately $9 million Increased financial flexibility to support operations and growth initiatives These actions were undertaken to remove structural constraints and position the Company for its next phase of growth. Acquisitions Cemtrex currently has two acquisitions in formal process - one under contract and the other under LOI - which the Company expects to close in the near term. Management believes these acquisitions, combined with ongoing organic growth, will further expand revenue and operating income. Looking ahead, the Company intends to pursue additional acquisitions in 2026, focused on businesses that enhance scale, margins, and operating leverage. Growth Outlook Over the past three fiscal years, Cemtrex has executed a significant operating transformation. Since fiscal 2022, the Company has grown revenue from approximately $45 million to more than $76 million, while expanding gross profit, restoring operating discipline, and returning to full-year operating profitability in fiscal 2025. Management views fiscal 2025 as the culmination of this turnaround and a clear demonstration of the Company’s ability to generate operating leverage at scale. “With the core business now profitable, our focus shifts to scaling operating leverage,” Govil added. “The improvement delivered this year demonstrates how incremental revenue translates into operating income. As we integrate acquisitions and continue to grow organically, we believe we are well positioned to compound operating income through scale, execution, and disciplined M&A as we move into fiscal 2026 and beyond.” About Cemtrex Cemtrex, Inc. (Nasdaq: CETX) is a diversified technology company operating in the Security and Industrial sectors. Its Security segment, led by Vicon Industries, provides advanced video management software, high-performance security cameras, and integrated surveillance solutions for enterprise, government, and critical infrastructure. The Industrial segment, through Advanced Industrial Services (AIS), delivers expert rigging, millwrighting, process piping, and equipment installation services to manufacturers nationwide. With a focus on innovation, execution, and strategic growth, Cemtrex is committed to enhancing safety, efficiency, and value for its customers and shareholders. For more information, visit www.cemtrex.com. Investor Relations: [email protected] Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the anticipated operational performance, potential acquisitions, strategic initiatives, closing of any offerings, gross proceeds from any offerings, our new product offerings, expected use of proceeds, or any proposed fundraising activities. These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law. CONTACT: Investor Relations: [email protected]

Related articleQuarter not tagged2025-08-20

CETX Stock Dips After Q3 Earnings Show Higher Revenue, Narrower Loss

Zacks
Shares of Cemtrex, Inc. CETX have lost 8% since the company reported its earnings for the quarter ended June 30, 2025. This compares to the S&P 500 Index’s 0.2% decline over the same time frame. Over the past month, the stock lost 1.2% versus the S&P 500’s 2.5% rise. Cemtrex posted third-quarter fiscal 2025 revenues of $16.9 million, up 15.5% from $14.7 million in the year-ago quarter. Segmentally, Security revenues surged 22.4% to $7.6 million from $6.2 million, aided by strength in Vicon’s order pipeline, while Industrial Services revenues rose 10.5% to $9.4 million from $8.5 million. Gross profit climbed 25.4% to $7.4 million from $5.9 million, with margins improving to 43% from 40%. The operating loss narrowed significantly to $0.6 million from $3.2 million last year. Despite these operational gains, Cemtrex reported a net loss attributable to shareholders of $4.5 million compared with $8.9 million in the prior-year period, translating to a loss per share of $1.78 against a much steeper $605.49 loss per share a year ago (reflecting the expanded share count). On a nine-month basis, Cemtrex’s revenues advanced 18.9% to $57.9 million from $48.7 million, driven by a 28% gain in Security revenues to $30 million from $23.4 million, which included the largest order in Vicon’s history, worth $10.4 million. Industrial Services revenues rose 10.5% to $27.9 million from $25.3 million. Gross profit jumped 26.8% to $25.2 million from $19.9 million, with margins expanding to 44% from 41% last year. CETX swung to an operating income of $1.7 million against the prior-year operating loss of $4.9 million, underscoring significant operating leverage. Liquidity also improved, with cash and equivalents, including restricted cash, rising to $8.1 million as of June 30, 2025 from $5.4 million at the end of fiscal 2024. Working capital was $4.9 million as of June 30, 2025, compared with $8.1 million as of Sept. 30, 2024. Cemtrex Inc. price-consensus-eps-surprise-chart | Cemtrex Inc. Quote Chairman and CEO Saagar Govil highlighted Cemtrex’s strengthened profitability profile, noting nearly 20% sales growth, margin gains and an improvement in operating income. Govil emphasized that both business segments are executing effectively, with Security benefiting from robust demand for Vicon solutions and Industrial Services maintaining consistent execution. Management attributed the turn…Read full document

Shares of Cemtrex, Inc. CETX have lost 8% since the company reported its earnings for the quarter ended June 30, 2025. This compares to the S&P 500 Index’s 0.2% decline over the same time frame. Over the past month, the stock lost 1.2% versus the S&P 500’s 2.5% rise. Cemtrex posted third-quarter fiscal 2025 revenues of $16.9 million, up 15.5% from $14.7 million in the year-ago quarter. Segmentally, Security revenues surged 22.4% to $7.6 million from $6.2 million, aided by strength in Vicon’s order pipeline, while Industrial Services revenues rose 10.5% to $9.4 million from $8.5 million. Gross profit climbed 25.4% to $7.4 million from $5.9 million, with margins improving to 43% from 40%. The operating loss narrowed significantly to $0.6 million from $3.2 million last year. Despite these operational gains, Cemtrex reported a net loss attributable to shareholders of $4.5 million compared with $8.9 million in the prior-year period, translating to a loss per share of $1.78 against a much steeper $605.49 loss per share a year ago (reflecting the expanded share count). On a nine-month basis, Cemtrex’s revenues advanced 18.9% to $57.9 million from $48.7 million, driven by a 28% gain in Security revenues to $30 million from $23.4 million, which included the largest order in Vicon’s history, worth $10.4 million. Industrial Services revenues rose 10.5% to $27.9 million from $25.3 million. Gross profit jumped 26.8% to $25.2 million from $19.9 million, with margins expanding to 44% from 41% last year. CETX swung to an operating income of $1.7 million against the prior-year operating loss of $4.9 million, underscoring significant operating leverage. Liquidity also improved, with cash and equivalents, including restricted cash, rising to $8.1 million as of June 30, 2025 from $5.4 million at the end of fiscal 2024. Working capital was $4.9 million as of June 30, 2025, compared with $8.1 million as of Sept. 30, 2024. Cemtrex Inc. price-consensus-eps-surprise-chart | Cemtrex Inc. Quote Chairman and CEO Saagar Govil highlighted Cemtrex’s strengthened profitability profile, noting nearly 20% sales growth, margin gains and an improvement in operating income. Govil emphasized that both business segments are executing effectively, with Security benefiting from robust demand for Vicon solutions and Industrial Services maintaining consistent execution. Management attributed the turnaround to tightened expenses, improved efficiency and balance sheet enhancements. The quarter benefited from robust order flow in the Security segment, including the record-breaking Vicon order, and steady execution in Industrial Services. Expense reductions also played a key role, as operating expenses for the quarter declined 11.5% to $8 million from $9.1 million a year earlier. However, volatility in warrant liabilities and continued interest expense weighed on bottom-line profitability. Net losses widened compared to operating performance, largely due to non-operational charges, including a $3.6 million hit from changes in the fair value of warrant liabilities during the quarter. Cemtrex did not issue specific forward guidance for revenues or earnings. However, management expressed confidence in sustaining momentum into the next fiscal year, citing a strengthened financial foundation and ongoing demand in both operating segments. Cemtrex invested $100,000 in MasterpieceVR during the nine months ended June 30, 2025, as disclosed in its cash flow statement. No other acquisitions, divestitures or restructuring initiatives were reported for the quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cemtrex Inc. (CETX) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Related articleQuarter not tagged2025-08-16

Cemtrex Third Quarter 2025 Earnings: US$1.78 loss per share (vs US$605 loss in 3Q 2024)

Simply Wall St.

Explore Cemtrex's Fair Values from the Community and select yours Revenue: US$17.0m (up 16% from 3Q 2024). Net loss: US$4.52m (loss narrowed by 50% from 3Q 2024). US$1.78 loss per share (improved from US$605 loss in 3Q 2024). AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. All figures shown in the chart above are for the trailing 12 month (TTM) period Cemtrex's share price is broadly unchanged from a week ago. You should always think about risks. Case in point, we've spotted 4 warning signs for Cemtrex you should be aware of. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Related articleQuarter not tagged2025-08-15

Cemtrex Reports Results for Third Quarter Fiscal 2025

GlobeNewswire
Hauppauge, NY, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Cemtrex Inc. (Nasdaq: CETX, CETXP), a multi-industry technology company focused on security and industrial services, today announced its financial results for the third quarter and nine months ended June 30, 2025, showing substantial improvement in revenue, margins, and profitability compared to the prior year. “Through the first nine months of fiscal 2025, Cemtrex is a stronger, more profitable, and more efficient business than it was a year ago,” said Saagar Govil, Chairman and CEO. “We’ve grown sales nearly 20 percent, expanded gross margins by three points, and delivered a $6.6 million year-over-year swing to positive operating income. This improvement is visible in nearly every major metric.” Third Quarter Fiscal 2025 Highlights (three months ended June 30, 2025 vs. 2024) Revenue increased 16% to $17.0 million from $14.7 million. Security segment revenue increased 22% to $7.6 million; Industrial Services revenue increased 10% to $9.4 million. Gross profit increased 25% to $7.37 million, with gross margin improving to 43% from 40%. Operating loss narrowed to $0.64 million from $3.18 million. Nine Months Fiscal 2025 Highlights (nine months ended June 30, 2025 vs. 2024) Revenue increased 19% to $58.0 million from $48.7 million. Security segment revenue increased 28% to $30.0 million, including a $10.4 million Vicon order. Industrial Services revenue increased 11% to $27.9 million. Gross profit increased 27% to $25.24 million, with gross margin improving to 44% from 41%. Operating income was $1.69 million, compared to an operating loss of $4.95 million last year, a $6.64 million improvement. Balance Sheet and Liquidity Cash and equivalents, including restricted cash, increased to $8.15 million from $5.42 million at September 30, 2024. Working capital was $4.92 million despite higher current maturities of long-term liabilities. “Our Security segment continues to see encouraging growth, anchored by the largest single order in Vicon’s history, while Industrial Services continues to execute at a high level delivering strong growth and margin gains,” added Govil. “We have tightened expenses, improved efficiency, and strengthened the balance sheet, all while executing on our growth plan. The difference between this year and last is significant, and we believe we are well positioned to build on this momentum into ou…Read full document

Hauppauge, NY, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Cemtrex Inc. (Nasdaq: CETX, CETXP), a multi-industry technology company focused on security and industrial services, today announced its financial results for the third quarter and nine months ended June 30, 2025, showing substantial improvement in revenue, margins, and profitability compared to the prior year. “Through the first nine months of fiscal 2025, Cemtrex is a stronger, more profitable, and more efficient business than it was a year ago,” said Saagar Govil, Chairman and CEO. “We’ve grown sales nearly 20 percent, expanded gross margins by three points, and delivered a $6.6 million year-over-year swing to positive operating income. This improvement is visible in nearly every major metric.” Third Quarter Fiscal 2025 Highlights (three months ended June 30, 2025 vs. 2024) Revenue increased 16% to $17.0 million from $14.7 million. Security segment revenue increased 22% to $7.6 million; Industrial Services revenue increased 10% to $9.4 million. Gross profit increased 25% to $7.37 million, with gross margin improving to 43% from 40%. Operating loss narrowed to $0.64 million from $3.18 million. Nine Months Fiscal 2025 Highlights (nine months ended June 30, 2025 vs. 2024) Revenue increased 19% to $58.0 million from $48.7 million. Security segment revenue increased 28% to $30.0 million, including a $10.4 million Vicon order. Industrial Services revenue increased 11% to $27.9 million. Gross profit increased 27% to $25.24 million, with gross margin improving to 44% from 41%. Operating income was $1.69 million, compared to an operating loss of $4.95 million last year, a $6.64 million improvement. Balance Sheet and Liquidity Cash and equivalents, including restricted cash, increased to $8.15 million from $5.42 million at September 30, 2024. Working capital was $4.92 million despite higher current maturities of long-term liabilities. “Our Security segment continues to see encouraging growth, anchored by the largest single order in Vicon’s history, while Industrial Services continues to execute at a high level delivering strong growth and margin gains,” added Govil. “We have tightened expenses, improved efficiency, and strengthened the balance sheet, all while executing on our growth plan. The difference between this year and last is significant, and we believe we are well positioned to build on this momentum into our next fiscal year.” About Cemtrex Cemtrex, Inc. (Nasdaq: CETX) is a diversified technology company operating in the Security and Industrial sectors. Its Security segment, led by Vicon Industries, provides advanced video management software, high-performance security cameras, and integrated surveillance solutions for enterprise, government, and critical infrastructure. The Industrial segment, through Advanced Industrial Services (AIS), delivers expert rigging, millwrighting, process piping, and equipment installation services to manufacturers nationwide. With a focus on innovation, execution, and strategic growth, Cemtrex is committed to enhancing safety, efficiency, and value for its customers and shareholders. For more information, visit www.cemtrex.com. Investor Relations: [email protected] Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities. These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law. Cemtrex, Inc. and Subsidiaries Condensed Consolidated Balance Sheets Cemtrex, Inc. and Subsidiaries Condensed Consolidated Statements of Operations (Unaudited) Cemtrex, Inc. and Subsidiaries Condensed Consolidated Statements of Cash Flows (Unaudited) CONTACT: Investor Relations: [email protected]

Related articleQuarter not tagged2025-05-15

Cemtrex Reports Second Quarter Fiscal Year 2025 Financial Results

GlobeNewswire
Brooklyn, NY, May 15, 2025 (GLOBE NEWSWIRE) -- - Cemtrex Inc. (NASDAQ: CETX, CETXP), an advanced security technology and industrial services company, has reported its financial and operational results for the fiscal second quarter ended March 31, 2024. Key Highlights for Second Fiscal Quarter 2025 Revenue increased 59% to $27.3 million, compared to revenue in the prior year quarter of $17.2 million. Operating Income totaled $4.6 million, compared to an operating loss of $1 million in Q2 FY 2024. Net Income for the period was $8.4 million, compared to a net loss of $1.5 million in Q2 FY 2024. Gross profit margin increased to 45%, up from 40% in the prior year period. Stockholders equity rose to $6.4 million, up from $4.7 million at September 30th 2024. Management Commentary Cemtrex Chairman and CEO, Saagar Govil, commented on the results: “We are extremely pleased with our strong second quarter performance, which reflects our team’s sharp focus on execution and margin improvement. Both operating segments contributed to robust revenue growth, and we delivered a return to profitability on both an operating and net income basis. The improvement in gross margins, combined with disciplined expense management, enabled us to post over $8 million in net income this quarter. We believe this result marks an inflection point for Cemtrex. “At Vicon, our Security segment, we benefited from the initial shipments of a record $10.4 million order and from the ramp-up of our new NEXT Modular Sensor System, which is now in full production. Our efforts to expand our presence in international markets are also beginning to show progress, with recent STQC certification in India positioning us for long-term growth in that region. Meanwhile, our Industrial Services segment, AIS, delivered solid 13% year-over-year growth and continues to execute well on large infrastructure and industrial projects.” “We remain laser-focused on delivering shareholder value through improved profitability, strategic innovation, and operational discipline. With a strengthening balance sheet and a growing backlog, we believe we are positioned to sustain momentum through the second half of the fiscal year, and remain optimistic that fiscal 2025 financial performance will surpass fiscal 2024.” Segment Highlights: Vicon Industries: Revenue grew 110% year-over-year to $17.0 million, driven by execu…Read full document

Brooklyn, NY, May 15, 2025 (GLOBE NEWSWIRE) -- - Cemtrex Inc. (NASDAQ: CETX, CETXP), an advanced security technology and industrial services company, has reported its financial and operational results for the fiscal second quarter ended March 31, 2024. Key Highlights for Second Fiscal Quarter 2025 Revenue increased 59% to $27.3 million, compared to revenue in the prior year quarter of $17.2 million. Operating Income totaled $4.6 million, compared to an operating loss of $1 million in Q2 FY 2024. Net Income for the period was $8.4 million, compared to a net loss of $1.5 million in Q2 FY 2024. Gross profit margin increased to 45%, up from 40% in the prior year period. Stockholders equity rose to $6.4 million, up from $4.7 million at September 30th 2024. Management Commentary Cemtrex Chairman and CEO, Saagar Govil, commented on the results: “We are extremely pleased with our strong second quarter performance, which reflects our team’s sharp focus on execution and margin improvement. Both operating segments contributed to robust revenue growth, and we delivered a return to profitability on both an operating and net income basis. The improvement in gross margins, combined with disciplined expense management, enabled us to post over $8 million in net income this quarter. We believe this result marks an inflection point for Cemtrex. “At Vicon, our Security segment, we benefited from the initial shipments of a record $10.4 million order and from the ramp-up of our new NEXT Modular Sensor System, which is now in full production. Our efforts to expand our presence in international markets are also beginning to show progress, with recent STQC certification in India positioning us for long-term growth in that region. Meanwhile, our Industrial Services segment, AIS, delivered solid 13% year-over-year growth and continues to execute well on large infrastructure and industrial projects.” “We remain laser-focused on delivering shareholder value through improved profitability, strategic innovation, and operational discipline. With a strengthening balance sheet and a growing backlog, we believe we are positioned to sustain momentum through the second half of the fiscal year, and remain optimistic that fiscal 2025 financial performance will surpass fiscal 2024.” Segment Highlights: Vicon Industries: Revenue grew 110% year-over-year to $17.0 million, driven by execution of a large government order and increased demand for AI-enhanced security solutions. Gross margin improved to 52% from 51% in the prior year quarter. Operating income for the segment totaled $4.3 million, compared to a loss of $0.7 million a year ago. Advanced Industrial Services: Revenue increased 13% to $10.3 million, up from $9.1 million in the prior year period. Gross profit grew to $3.4 million, with gross margin improving to 33%. Operating income rose to $0.9 million from $0.7 million in Q2 FY2024. As of March 31, 2025, cash and cash equivalents were $4.5 million, and total assets were $46.2 million. Inventories decreased to $6.1 million at March 31, 2025, from $7.0 million at September 30, 2024. Stockholders’ equity improved to $6.4 million, exceeding Nasdaq’s minimum continued listing standards. About Cemtrex Cemtrex, Inc. (Nasdaq: CETX) is a diversified technology company operating in the Security and Industrial sectors. Its Security segment, led by Vicon Industries, provides advanced video management software, high-performance security cameras, and integrated surveillance solutions for enterprise, government, and critical infrastructure. The Industrial segment, through Advanced Industrial Services (AIS), delivers expert rigging, millwrighting, process piping, and equipment installation services to manufacturers nationwide. With a focus on innovation, execution, and strategic growth, Cemtrex is committed to enhancing safety, efficiency, and value for its customers and shareholders. For more information visit www.cemtrex.com. Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities. These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law. Cemtrex, Inc. and SubsidiariesCondensed Consolidated Balance Sheets Cemtrex, Inc. and SubsidiariesCondensed Consolidated Statements of Operations (Unaudited) Cemtrex, Inc. and SubsidiariesCondensed Consolidated Statements of Cash Flows(Unaudited) Cemtrex, Inc. and SubsidiariesCondensed Consolidated Statements of Cash Flows (Continued)(Unaudited) CONTACT: Investor Relations [email protected]

TranscriptFY2024 Q32024-08-14

FY2024 Q3 earnings call transcript

Earnings source - 7 paragraphs
Operator

Greetings. And welcome to the Cemtrex’s Third Quarter 2024 Financial Results Conference Call. At this time, all participants are in listen mode only. A question-and-session will follow the formal presentation. As a reminder, this conference is being recorded. Before we begin the formal presentation, I would like to remind everyone that statements made on the call and webcast may include predictions, estimates or other information that might be considered forward-looking. While these forward-looking statements represent our current judgment on what the future holds, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this presentation. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. Throughout today’s discussion, we will attempt to present some important factors relating to our business that may affect our predictions. You should also review our most recent Form 10-K and 10-Q for a more complete discussion of these factors and other risks, particularly under the heading Risk Factors. A press release detailing these results was issued this afternoon and is available in the Investor Relations section of our company’s website, cemtrex.com. Your hosts today, Saagar Govil, Chief Executive Officer; and Paul Wyckoff, Chief Financial Officer, will present unaudited results of operations for the fiscal third quarter ended June 30, 2024. At this time, I will turn the call over to Cemtrex Chief Executive Officer, Saagar Govil.

Saagar Govil

Thank you, Operator. Good afternoon, everyone. I’m pleased to welcome you to today’s third quarter 2024 financial results conference call. We continue to see momentum in our segments during the third quarter, sustaining revenue year-over-year at $14.7 million, significant demand for AIS products and services drove a 49% increase in revenue to $8.5 million, which was offset by decreases in Vicon revenue, primarily due to the delay of multiple projects. Operating loss for the third quarter was $3.2 million, compared to operating income of $0.1 million a year ago, mainly due to decreased gross profit in our Security segment and increased G&A expenses. The operating loss for the nine-month period was $5 million, compared to $1.5 million a year ago, despite the higher sales. However, these results include approximately $2 million in one-time expenses related to employee related one-time charges and legal expenses, and some bad debt write-offs. We remain committed to our goal of achieving a full year operating profit and are working hard to drive revenue while maintaining tight cost controls. In our Security segment, despite project delays, the team at Vicon continues to push the deployment of new technologies and products with investments into sales and marketing resources that we believe will drive sales over the next several quarters. We also were able to reduce our inventory by over $1 million this fiscal year as we strive to make our operations more efficient. We expect with the launch of the innovative new cloud security platform Anavio, along with new technologies to be release later this year and continued improvements to our core software platform Valerus, we are confident that in fiscal year 2025, Vicon will see strong growth in revenue. Our industrial Services segment delivered another strong quarter on orders from leading companies, building a pipeline of growth that we believe will produce a record year of revenue. We continue to believe with additional orders ahead, AIS has the potential to reach more than 30% annual revenue growth in fiscal year 2024, with further growth in fiscal year 2025. During the quarter we took the opportunity to improve our balance sheet with a $10 million upsized underwritten public offering, of which a portion of the proceeds were used to pay off some of our indebtedness. Looking ahead, we are now well positioned for additional growth and to reach our goal of achieve positive operating income in the future. The strengthened balance sheet also provides the ability to explore acquisition opportunities that can enhance our market reach and service capabilities, as we continue to seek long-term value for our shareholders. I will now turn the call over to Paul Wyckoff our CFOs to discuss the financials.

Paul Wyckoff

Thank you, Saagar. Revenue for the third quarters of 2024 and 2023 was a flat $14.7 million. The Security segment revenues for the third quarter of 2024 decreased by 31% to $6.2 million. The Security segment decrease was due to a delay of multiple projects for the segment’s services, products and services, and overall economic conditions in the industry. The Industrial Services segment revenues for the quarter increased by 49% to $8.5 million, mainly due to the increased demand for the segment’s services, as well as additional revenue due to Heisey acquisition completed during the fourth quarter of fiscal year 2023. Gross profit for the third quarter of 2024 was $5.9 million or 40% of revenues, as compared to gross profit of $6.5 million or 44% of revenues for the third quarter of 2023. Total operating expenses for the three months into June 30, 2024 were $9.1 million, compared to $6.4 million in the prior year’s quarter. Operating loss for the third quarter of 2024 was $3.2 million, as compared to operating income of $0.1 million for the third quarter of 2023. The operating loss was primarily due to the decrease in gross profit in our Security segment and overall increase in G&A expenses. Net loss for the third quarter of 2024 was $9.1 million, as compared to a net loss of $1.2 million in the third quarter of 2023. Cash and cash equivalents and restricted cash rose $7.6 million on June 30, 2024, as compared to $6.3 million on September 30, 2023. Inventories decreased to $7.5 million on June 30, 2024, from $8.7 million on September 30, 2023. I will now turn the call back to Saagar for a review of our 2024 outlook.

Saagar Govil

Thank you, Paul. In summary, with a fortified balance sheet from the $10 million upsize offering we closed, we are making steady progress toward our goal of achieving positive operating income in the future. On the acquisition front, we are consistently evaluating potential value-add acquisition opportunities that can further accelerate our growth. As we execute on our strategic initiatives while prudently managing our balance sheet, we are well-positioned for long-term growth. We look forward to providing additional updates in the months to come as we work to build long-term value for our shareholders. I thank you all for attending and now would like to answer your questions. Operator?

Operator

Thank you. [Operator Instructions] We have one who raised hands, which is Richard Arnold [ph]. However, I think the line or he declined from the polling process. As of right now, there is no analyst or participant who is raising hands for any questions. [Operator Instructions] There are no further questions at this time. I would now like to turn the call back over to Mr. Saagar Govil for his closing remarks. : :

Saagar Govil

Thank you, Operator. I would like to thank each of you for joining our earnings call today and look forward to continuing to update you on our ongoing progress and growth. If we were unable to answer any questions, please feel to reach out to our IR firm, MZ Group, who would be more than happy to assist. Thanks, everyone. Bye-bye.

Operator

Ladies and gentlemen, this concludes today’s conference call. Thank you for your participation. You may now disconnect.

TranscriptFY2024 Q22024-05-14

FY2024 Q2 earnings call transcript

Earnings source - 7 paragraphs
Operator

Greetings, and welcome to the Cemtrex Second Quarter 2024 Financial Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. Before we begin the formal presentation, I would like to remind everyone that statements made on the call and webcast may include predictions, estimates or other information that might be considered forward-looking. While these forward-looking statements represent our current judgment on what the future holds, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this presentation. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. Throughout today's discussion, we will attempt to present some important factors relating to our business that may affect our predictions. You should also review our most recent Form 10-K and Form 10-Q for a more complete discussion of risk factors and other risks, particularly under the heading Risk Factors. A press release detailing these results was issued this afternoon and is available in the Investor Relations section of our company's website, cemtrex.com. Your host today, Saagar Govil, Chief Executive Officer; and Paul Wyckoff, Chief Financial Officer, will present unaudited results of our operations for the second quarter ended March 31, 2024. At this time, I will turn the call over to Cemtrex's Chief Executive Officer, Saagar Govil. Please go ahead.

Saagar Govil

Thank you, operator, and good afternoon, everyone. I'm pleased to welcome you to today's Second Quarter 2024 Financial Results Conference Call. The second quarter of our fiscal year 2024 was highlighted by new technology deployments and continued overall growth across our business. For the second quarter, Cemtrex had revenue of $17.2 million, an increase of 7%, and our gross margin was 40%. Operating loss for the second quarter was $1 million compared to operating income of $0.4 million a year ago. Operating loss for the 6-month period was $1.8 million compared to $1.5 million in the prior year despite higher sales. However, these results include approximately $1 million in onetime expenses from employee-related charges and legal expenses that we do not anticipate incurring in the future. Our goal of reaching a full year operating profit remains and we are working hard to drive revenue and maintain tight cost controls. Revenues in our Security segment in the second quarter decreased by 18% to $8.1 million. The decrease was due to the delay of certain projects in the Security segments, products and services. Despite the delay in some of the Vicon projects, the segment is still showing year-over-year growth for the first half of the fiscal year. Vicon continued to introduce new technologies and products, including the deployment of Anavio, Vicon's innovative new cloud security platform. Anavio enabled users to manage their access control, video and intercom via a single tool to streamline and ultimately achieve complete situational awareness and control. Some of the new features of Anavio include face authentication that ensures only authorized people can access facilities and a powerful person of interest feature whereby users can forensically track a specific person or multiple people throughout a facility. We continue to invest in our sales and marketing resources in the Security segment, with the goal of driving sales growth over the next several quarters. We are also striving to increase operational efficiency and have reduced inventory by over $1 million for this fiscal year. With the launch of Anavio along with new technologies and continued improvement to our core software platform, Valerus, we expect to drive further growth and see additional opportunity to grow gross margin in 2024. Revenue for our Industrial Services segment, AIS, increased 47% to $9.1 million, mainly due to increased demand for our services as well as additional business from the highly synergistic acquisition of Heisey Mechanical. We believe this segment will produce a record year of revenue driven by new orders from leading companies and a robust growth pipeline. We continue to believe with additional orders ahead, AIS has the potential to reach more than 30% annual growth in fiscal year 2024. During the second quarter, AIS secured orders, including a $1.6 million order for 2 relocation projects from the leading printing and graphics company and a $0.5 million order to remove existing equipment for an engineering and construction company, which affirms AIS' commitment to delivering excellence across its service offerings. I'll now turn the call over to Paul Wyckoff, our CFO, to discuss financials.

Paul Wyckoff

Thank you, Saagar. Revenue for the second quarter of 2024 and 2023 were $17.2 million and $16.1 million, respectively, an increase of 7%. The Security segment revenues for the first quarter of fiscal 2024 decreased by 18% to $8.1 million. The Security segment decrease was due to a delay of multiple projects for the segment's products and services. The Industrial Services segment revenues for the quarter increased by 47% to $9.1 million, mainly due to increased demand for the segment services as well as additional revenue due to the Heisey acquisition completed during the fourth quarter of fiscal year 2023. Gross profit for the second quarter of 2024 was $6.9 million or 40% of revenues as compared to gross profit of $7.3 million or 46% of revenues for the second quarter of 2023. Total operating expenses for the 3 months ended March 31, 2024, were $8 million compared to $7 million in the prior year's quarter. Operating loss for the second quarter of 2024 was $1 million as compared to an operating income of $0.4 million for the second quarter of 2023. The operating loss was primarily due to a decrease in gross profit in our Securities segment and overall increased payroll expenses. Net loss for the second quarter of 2024 was $1.6 million as compared to a net loss of $0.6 million in the second quarter of 2023. Cash, cash equivalents and restricted cash totaled $4.1 million at March 31, 2024, as compared to $6.3 million at September 30, 2023. Subsequent to the second quarter, the company closed a firm commitment under in public offering with gross proceeds of the company of approximately $10 million. Inventories decreased to $7.4 million at March 31, 2024, from $8.7 million at September 30, 2023. I will now turn the call back to Saagar for a review of our 2024 outlook.

Saagar Govil

Thank you, Paul. Looking ahead, we are well positioned to build on our momentum and remain focused on our goal to achieve positive operating income in fiscal year 2024 on a full year basis. We have strengthened our balance sheet from the $10 million upsized underwritten public offering we closed, of which a portion of the proceeds were used to pay off some of our indebtedness. We continue to explore acquisition opportunities that have the potential to enhance our market reach and service capabilities and further drive growth in the months and years ahead. We remain focused on delivering incremental growth and positive operating results, along with diligent balance sheet management, and we are committed to achieving positive operating income for the full year fiscal year 2024. Thank you all for attending. And now I would like to answer your questions. Operator?

Operator

[Operator Instructions] And your first question comes from the line of Jared Cohen with JM Cohen & Company. [Operator Instructions] And we currently have no questions at this time. I would like to turn it back to Saga Govil for further remarks.

Saagar Govil

Thank you, operator. I would like to thank each of you for joining our earnings conference call today and look forward to continuing to update you on our ongoing progress and growth. If we were unable to answer any of your questions, please feel free to reach out to our IR firm, MZ Group, who would be more than happy to assist. Thank you.

Operator

Thank you, presenters. And ladies and gentlemen, this concludes today's conference call. Thank you all for participating. You may now disconnect.

TranscriptFY2024 Q12024-02-12

FY2024 Q1 earnings call transcript

Earnings source - 13 paragraphs
Operator

Greetings, and welcome to the Cemtrex First Quarter 2024 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. As a reminder, this conference is being recorded. Before we begin the formal presentation, I would like to remind everyone that statements made on the call and webcast may include predictions, estimates or other information that might be considered forward-looking. While these forward-looking statements represent our current judgment on what the future holds, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this presentation. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. Throughout today's discussion, we will attempt to present some important factors relating to our business that may affect our predictions. You should also review our most recent Form 10-K and Form 10-Q for a more complete discussion of these factors and other risks, particularly under the heading “Risk Factors”. A press release detailing these results was issued this afternoon and is available in the Investor Relations section of our company's website, cemtrex.com. Your hosts today are, Saagar Govil, Chief Executive Officer; and Paul Wyckoff, Chief Financial Officer, will present unaudited results of operations for the first quarter ended December 31, 2023. At this time, I will turn the call over to Cemtrex’s Chief Executive Officer, Saagar Govil.

Saagar Govil

Thank you, Operator, and good afternoon, everyone. I'm pleased to welcome you to today's first quarter 2024 financial results conference call. The first quarter of fiscal year 2024 was highlighted by the company's realignment and operating performance improvement. For the first quarter, Cemtrex had revenue of $16.9 million, an increase of 41%. For the first quarter, our gross margin held at 42%, supported by operational improvements. We continue to expect increases in our gross margin going forward over time as we make further enhancements in our business. During the quarter, we took additional steps to reduce operating expenditures, including a $1 million reduction in our overhead in our security segment that should start to be realized in our fiscal second quarter going forward. Operating loss for the first quarter improved to $0.7 million, compared to an operating loss of $2 million a year ago. We also believe that there's room within our inventory and asset base to draw extra liquidity in order to maintain a healthy cash position. Revenues in our security segment were led by Vicon with first quarter revenues improving 31% to $9.2 million. Vicon orders during the first quarter reflected its ability to capture repeat customers with a recent $0.8 million second phase order from a current school district customer in New Jersey to develop its security technology system with new solutions, expanding on the customer's previous order. Vicon's award-winning Roughneck cameras and Valerus video management software solutions are being chosen to meet the unique challenges and locations ranging from border protection, correction facilities, and schools that require an advanced solution of technologies to monitor people and protect areas. Increasing modernization of the current security infrastructure is accelerating the growth of the border security market, driven by the rise of geopolitical instabilities and an increase in border threat. As customers seek to modernize their current security infrastructure, Vicon continues to stand out with its advanced technologies and products. Vicon launched a new cloud security platform called Anavio that integrates video access and intercom in one easy-to-use system powered by AI and face-based authentication. This new cloud platform allows us to create more value in our business overtime by evolving Vicon into a recurring revenue business model. Additionally, with AI at the core of our roadmap and Anavio, we're excited to layer in new capabilities and benefits for our customers to deliver the most cutting-edge security solutions over the months and years to come. With the launch of Anavio, along with continued improvements to our core software platform, Valerus, we expect to drive further growth and see additional opportunity to grow gross margin percent in 2024. Revenue for our industrial services segment, AIS, increased 55% to $7.7 million. The increase was mainly due to an increased demand for our services and supported by the close of our highly synergistic acquisition of Heisey Mechanical. This continued growth was highlighted by our recent announcement of $3.8 million in new orders for two projects, including a $2.2 million order for a geothermal system update for a northeastern school district and a $1.6 million order for the fabrication of a key component for a motion control technology company. AIS continues to build profitable revenue growth with additional wins in new government and industrial verticals in a variety of service industries and new geographies. I'll now turn the call over to Paul Wyckoff, CFO, to discuss financials. Paul?

Paul Wyckoff

Thank you, Saagar. Revenue for the first quarter of 2024 and 2023 was $16.9 million and $12 million, respectively, an increase of 41%. The Security segment revenues for the first quarter of 2024 increased by 31% to $9.2 million. The Security segment increase was due to an increase for demand for security technology products under the Vicon brand. The Industrial service segment revenues for the quarter increased by 55% to $7.7 million, mainly due to increased demand for the segment services as well as additional revenue due to the Heisey acquisition. Gross profit for the first quarter of 2024 was $7.1 million, or 42% of revenues, as compared to gross profit of $5 million, or 42% of revenues, for the first quarter of fiscal year 2023. Total operating expenses for the three months ended December 31, 2023, were $7.8 million compared to $7 million in the prior year's quarter. Operating loss for the first quarter of 2024 was $0.7 million as compared to an operating loss of $2 million for the first quarter of 2023. The improvement was primarily due to an increase in the gross profit for the period due to growing revenues in both segments of our business. Net loss for the first quarter of 2024 was $1.2 million as compared to a net loss of $6.3 million in the first quarter of 2023, an improvement of $5.1 million. Cash and cash equivalents and restricted cash totaled $4 million at December 31, 2023, as compared to $6.3 million at September 30, 2023. Inventories decreased to $7.9 million at December 31, 2023, from $8.7 million at September 30, 2023. I will now turn the call back to Saagar for a review of our 2024 outlook.

Saagar Govil

Thank you, Paul. Looking ahead, we are highly focused on delivering larger operating profits by driving top-line growth while maintaining tight cost control measures in our two operating businesses. Vicon has the ability to disrupt the status quo of how the security industry traditionally operates with its Anavio next generation, state-of-the-art surveillance cameras, and VMS software. Along with its next-generation technology, Vicon's evolution into a recurring revenue business model will help drive additional market share gains. AIS is rapidly expanding into new markets and customer opportunities supported by its recent acquisitions. We also continue to explore additional acquisition opportunities that could drive further growth and expansion within our business segment. Looking ahead, we are focused on delivering attractive operating results, driving growth, and combined with tight expense control, are committed to achieving positive operating income in fiscal year 2024 on a full-year basis. We are confident that as we stay on this path, we can deliver strong long-term value for our shareholders going forward. Thank you all for attending, and now I would like to answer your questions. Operator?

Operator

Thank you. [Operator Instructions]. Our first question is from Larry Holub with Holub Family Office. Please proceed with your question.

Larry Holub

Thanks for taking my question, and I just want to say congratulations on the Q1 pipeline performance. My question is, for the security and industrial segments, what drove the strong performance, and do you see the same trends continuing in the fiscal second quarter?

Saagar Govil

Thanks for the question, Larry. So, I think within both of our businesses, maybe I'll start with each one at a time. So, in our security segment, I like to look at things both at the macro level and the micro level. So, at the macro level, we continue to see strong tailwinds as organizations, both big and small, continue to make security a priority, and that's just a reflection of the environment that we live in and the times. So, security continues to remain a big, big priority, and we're continuing to see investments made to upgrade security solutions, expand security infrastructure, and continue to invest in the latest and greatest technologies. So, I think that's what's happening in the background. At the organization level, I think Vicon's doing a lot of great things. We're continuing to put out new products, upgrade old products, and continue to stay really competitive in the market with our award-winning Roughneck cameras. Valerus is continuing to win the hearts and minds of our customers, and so we're seeing a lot of expansion opportunities with that core product that we've been continuing to make better every day. And then, Anavio, really, we just started the marketing and sales activities for Anavio, so we're starting to ramp that up really this quarter. So, we're already getting interest from customers, and we're starting to ramp that up. And so, all of these things are kind of layering on top of each other to build really positive momentum for the company. So, we're excited about that, and I think that allows us to have confidence going forward that Vicon will continue to grow on the order of 15% to 20% on average over the next couple years. So, we're feeling really good about that. On the industrial side of our business, we continue to see at the macro level that demand for industrial services continues to trend higher. We're not seeing any weakness from that regard, which gives us, again, confidence that the outlook remains positive for us. As reshoring of manufacturing back to the United States, investment in infrastructure here in the U.S. all contribute to the growing demand for industrial services and capabilities, which AIS is a leader in. And so, that's really what's happening, in sort of the larger picture. And then, organizationally, again, AIS is operating on all cylinders. The integration of the acquisition has gone really well, and we're continuing to see that drive growth at the top line as well as at the operating income line with the business. So, overall, we're quite pleased with the results, and we're optimistic and hopeful that that'll continue to happen as we go forward. And then, we're going to continue to look for additional bolt-on acquisitions that could continue to drive further growth in that segment as well. So, I think it's on both sides of the business, there's a lot to be excited about.

Larry Holub

Great. Thank you. My second and last question, how should we think about operating income for Q2, given the slight sequential decline? And then, because I think, we touted the third consecutive quarter of operating income in the last reporting period.

Saagar Govil

So, a couple things to point out there. Operating income didn't land where we were hoping it would. There were some one-time expenses that we encountered in this past quarter, some of them around payroll expenses and so forth. So, I think, in general, the quarter was a little bit higher than the priority quarters from an OpEx perspective. So, that certainly contributed to that. I don't expect subsequent quarters to have as high of an OpEx because of the timing of some of those expenses. And then, on top of that, we did reduce overhead by about $ 1 billion and change or so, give or take. So, that should also continue to make, profitability a little bit more manageable and a little bit, as we continue to grow and really tuck those profits into our belt. So, that's in terms of how we think about it. So, I think, overall we remain committed to having an operating profit this fiscal year. Our business is, unfortunately, a little bit lumpy. So, it's always hard to predict exactly when, orders will land and get booked and invoiced. But, based on the overall macro picture and the overall environment, we still feel good about that despite, the loss in the first quarter.

Larry Holub

Great. Thank you.

Operator

[Operator Instructions] Thank you. There are no further questions at this time. I would now like to hand the floor back over to Mr. Govil for his closing remarks.

Saagar Govil

Thank you, operator. I would like to thank each of you for joining our earnings call today and look forward to continuing to update you on our ongoing progress and growth. If you have any further questions after this call, please feel free to reach out to our IR firm, MZ Group, who would be more than happy to assist and get your questions answered. Thank you for your time.

Operator

This concludes today's conference. You may disconnect your lines at this time. Thank you for your participation.

As of 2026-10-31 • Updated weeklySource: Earnings sourceIngestion runbook