Cloudastructure Inc-A(CSAI) - 2025 Q1 - Quarterly Report

Revenue Growth - Total revenue increased by $501,148, or 212$236,677 for the three months ended March 31, 2024, to $737,825 for the same period in 2025, driven by a 38$154,242, or 61%, from $253,232 for the three months ended March 31, 2024, to$407,473 for the same period in 2025[103]. - General and administrative expenses increased by 114% for the three months ended March 31, 2025, primarily due to a one-time bonus of $323,000 paid to employees[107]. - Research and development expenses increased by 71$237,000 due to a one-time bonus[108]. Net Loss - Net loss for the three months ended March 31, 2025, was $2.5 million, compared to a net loss of$1.7 million for the same period in 2024, representing a 46% increase in loss[111]. Cash Position - Cash and cash equivalents at the end of the period were $6.845 million for the three months ended March 31, 2025, compared to$(1.028) million for the same period in 2024[115]. - Net cash provided by financing activities was $9.4 million for the three months ended March 31, 2025, compared to approximately$0 for the same period in 2024[120]. - As of March 31, 2025, the company had approximately $6.9 million in cash and$6.8 million in working capital, expecting current cash to fund operations through at least Q1 2026[126]. Future Outlook - The company anticipates entering additional markets in 2025 and 2026, focusing on expanding its customer base in the property management space[89]. - The company expects to incur additional losses for the foreseeable future as it continues to expand and develop new products and services[125]. - The company has an accumulated deficit of approximately $43.4 million as of March 31, 2025, and expects to continue incurring operating losses and negative cash flows for the foreseeable future[128]. - The Series 2 Purchase Agreement and Equity Purchase Agreement may provide necessary funding for the next 12 months, but their execution is subject to conditions beyond the company's control[127]. Financial Management - The company has a planning and budgeting process to monitor operating cash requirements, including capital expenditures, general and administrative costs, and public company operating costs[129]. - Contractual obligations primarily relate to operating lease obligations, capital lease obligations, and insurance obligations, which are generally terminable after a notice period[130]. - The company does not have any long-term debt or significant long-term liabilities as of the reporting period[131]. Regulatory Status - The company is classified as an "emerging growth company" under the JOBS Act, allowing it to take advantage of certain reporting exemptions[133]. - The company has elected to use an extended transition period for complying with new accounting standards, which may affect the comparability of its financial statements[134]. - The company is not required to provide certain disclosures related to executive compensation due to its status as an emerging growth company[138]. - The company evaluates its accounting estimates and assumptions on an ongoing basis, which may impact reported amounts of assets, liabilities, revenue, and expenses[140].