Revenue Performance - Security segment revenues decreased by $1,828,966 or 18% to $8,084,932 for the three months ended March 31, 2024, compared to $9,913,898 for the same period in 2023 due to project delays [98]. - Industrial Services segment revenues increased by $2,915,164 or 47% to $9,074,663 for the three months ended March 31, 2024, driven by increased demand and the Heisey acquisition [98]. - Revenues from the Security segment increased by $334,091 or 2% to $17,252,733 for the six months ended March 31, 2024, compared to $16,918,642 for the same period in 2023 [141]. - Revenues from the Industrial Services segment surged by $5,660,031 or 51%, reaching $16,785,028 for the six months ended March 31, 2024, up from $11,124,997 in the prior year [141]. Profitability and Expenses - Gross profit for the three months ended March 31, 2024, was $6,939,416 or 40% of revenues, down from $7,338,481 or 46% for the same period in 2023 [99]. - General and administrative expenses increased by $1,701,890 or 32% to $7,020,157 for the three months ended March 31, 2024, primarily due to higher sales and marketing activities [100]. - Research and Development expenses decreased by $663,941 or 41% to $951,400 for the three months ended March 31, 2024, compared to $1,615,341 for the same period in 2023 [101]. - The Company reported a decrease in other expenses for the six months ended March 31, 2024, totaling $953,311, down from $2,103,951 for the same period in 2023 [129]. - The Company had an income tax expense from continuing operations of $170,755 for the six months ended March 31, 2024, compared to $0 in the same period of 2023 [129]. Cash Flow and Working Capital - Working capital increased to $10,300,384 at March 31, 2024, from $1,948,923 at September 30, 2023, primarily due to a standstill agreement on two notes [103]. - Cash used by operating activities for continuing operations was $2,752,236 for the six months ended March 31, 2024, compared to $5,383,060 for the same period in 2023 [103]. - The Company has $2,916,120 in cash and cash equivalents as of March 31, 2024, and secured a line of credit with available capacity of $980,766 [131]. Shareholder Activities - The Company repurchased 71,951 shares for $69,705 under the Share Repurchase Program during the six months ended March 31, 2024 [116]. - The Underwriter received a 7.0% underwriting discount on the public offering price for the Units, along with a non-accountable expense allowance of 0.5% of the gross proceeds [120]. - The Company raised approximately $10,035,000 in gross proceeds from an underwritten public offering, selling a total of 11,764,705 Units and 11,210,000 Pre-Funded Units [120]. Compliance and Reporting - The Chief Executive Officer and Interim Chief Financial Officer have certified compliance with the Sarbanes-Oxley Act of 2002 [152]. - The company filed its Annual Report on Form 10-K with the SEC on December 28, 2023, which includes risk factors [148]. - There have been no changes in internal control over financial reporting that materially affected the company during the six months ended March 31, 2024 [145]. - The management does not expect that disclosure controls and procedures will prevent all errors and fraud, indicating inherent limitations in control systems [146]. Agreements and Future Outlook - The Company anticipates that its long-term objectives will require sufficient cash to fund marketing, sales, and strategic acquisitions, which may not be fully met by current resources [131]. - The Company has various amendments and agreements filed, including a Term Loan Agreement amendment dated March 3, 2023 [150]. - The company has entered into multiple Securities Purchase Agreements, with the latest dated April 30, 2024 [150]. - The Company has granted the Underwriter a right of first refusal for certain financing transactions for a period of 15 months following the closing of the Offering [121]. - The company has engaged in asset purchase agreements, including one dated June 7, 2023 [150]. - The company has filed Inline XBRL documents as part of its reporting requirements [150]. - The company has a Lock-Up Agreement and Underwriting Agreement filed on April 30, 2024 [150].

Hauppauge, NY, May 09, 2024 (GLOBE NEWSWIRE) -- - Cemtrex Inc. (NASDAQ:CETX, CETXP))), an advanced security technology and industrial services company, will hold a conference call on Tuesday, May 14, 2024 at 5:00 p.m. Eastern time to discuss its results for the fiscal second quarter ended March 31, 2024. A press release detailing these results will be issued prior to the call. Cemtrex Chief Executive Officer Saagar Govil and Chief Financial Officer Paul Wyckoff will host the conference call, followed by a q ...

Hauppauge, NY, May 03, 2024 (GLOBE NEWSWIRE) --  – Cemtrex, Inc. (NASDAQ:CETX) (the "Company"), an advanced security technology and industrial services company, today announced the closing of a firm commitment underwritten public offering with gross proceeds to the Company of approximately $10 million, before deducting underwriting discounts and other estimated expenses payable by the Company. The offering was upsized from $9 million. The base offering consisted of 11,764,705 Common Units or Pre-Funded Unit ...

Hauppauge, NY, April 09, 2024 (GLOBE NEWSWIRE) -- - Cemtrex Inc. (NASDAQ:CETX, CETXP))), an advanced security technology and industrial services company, today announced that its subsidiary, Vicon Industries, is set to showcase its new AI-powered unified cloud solution at ISC West 2024, which will be held April 9-12, 2024 at the Venetian Expo, Las Vegas, and with be exhibiting at booth #26049. The International Security Conference & Exposition – also known as ISC West – is the leading comprehensive & conver ...

Hauppauge, NY, March 11, 2024 (GLOBE NEWSWIRE) --  - Cemtrex Inc. (NASDAQ:CETX, CETXP))), an advanced security technology and industrial services company, today announced it has received $2.1 million in new orders through its Advanced Industrial Services ("AIS") subsidiary underscoring the Company's strong market position and optimistic growth outlook. These orders, including a $1.6 million order for two relocation projects from a leading printing and graphics company, and a $0.5 million order to remove exi ...

Hauppauge, NY, March 06, 2024 (GLOBE NEWSWIRE) -- - Cemtrex Inc. (NASDAQ:CETX, CETXP))), an advanced security technology and industrial services company, today announced that its subsidiary, Vicon, is expected to commence the beta release of its innovative Artificial Intelligence (AI) gun detection feature in the second calendar quarter of 2024, marking a significant milestone in public safety and security technology. This groundbreaking feature is designed to function on edge devices, offering a low-cost, ...

Brooklyn, NY, Feb. 28, 2024 (GLOBE NEWSWIRE) --  - Cemtrex Inc. (NASDAQ:CETX, CETXP))), an advanced security technology and industrial services company, today issued a letter to shareholders from Chairman and CEO Saagar Govil. To the Shareholders of Cemtrex, Inc., I wanted to provide you with a detailed update on Cemtrex's activities over the last several months. If you have been following our progress closely then you will know that we have made many changes to our organization with the hope that we will g ...

Cemtrex, Inc. and Subsidiaries Condensed Consolidated Statements of Operations (Unaudited) Condensed Consolidated Statements of Comprehensive Loss (Unaudited) 4 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------------------|------------------------------------------------------------------------------------|-----------------------|----------------------------------------------------|--------|---------------------------------------------|------------------------ ...

Cemtrex, Inc. (NASDAQ:CETX) Q1 2024 Earnings Conference Call February 12, 2024 3:30 PM ET Company Participants Saagar Govil - Chief Executive Officer Paul Wyckoff - Chief Financial Officer Conference Call Participants Larry Holub - Holub Family Office 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 ...

Brooklyn, NY, Feb. 12, 2024 (GLOBE NEWSWIRE) --  - Cemtrex Inc. (NASDAQ:CETX, CETXP))), an advanced security technology and industrial services company, has reported its unaudited financial and operational results for the first quarter ended December 31, 2023. Key First Quarter FY 2024 and Subsequent Highlights Revenue for Q1'24 increased 41% to $16.9 million, compared to revenue of $12.0 million for Q1'24. Security segment revenues increased 31% to $9.2 million in Q1'24 on increased demand for Vicon's prod ...