Condensed Consolidated Balance Sheets(in US Dollars except share numbers) March 31, December 31, 2025 2024 (Unaudited) (Audited) ASSETS Current Assets Cash and cash equivalents $8,707,353 $9,452,826 Accounts receivable, net 56,844 13,041 Contract assets, net 234,328 234,328 Inventory, net 20,283 25,980 Prepaid expenses and other 179,258 368,068 Total Current Assets 9,198,066 10,094,243 Noncurrent Assets Property and equipment, net 4,566 5,698 Intangible assets, net 1,830 1,830 Deposits 14,747 14,747 Operating lease right-of-use asset 216,891 245,270 Total Noncurrent Assets 238,034 267,545 TOTAL ASSETS $9,436,100 $10,361,788 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES Current Liabilities Accounts payable and accrued liabilities $514,962 $550,477 Deferred revenue 474,679 343,790 Current portion of operating lease liability 137,875 135,651 Total Current Liabilities 1,127,516 1,029,918 Noncurrent Liabilities Operating lease liability, net of current portion 101,314 134,147 Total Noncurrent Liabilities 101,314 134,147 TOTAL LIABILITIES 1,228,830 1,164,065 Commitments and Contingencies (Note 9) - - SHAREHOLDERS’ EQUITY Preferred stock, $0.00001 par value; 25,000,000 shares authorized; 0 shares issued and outstanding - - Common stock, $0.00001 par value; 200,000,000 authorized; 802,346 and 793,109 shares issued and outstanding, respectively 8 8 Additional paid in capital 49,612,075 49,533,950 Accumulated deficit (41,404,813) (40,336,235)Total Shareholders’ Equity 8,207,270 9,197,723 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $9,436,100 $10,361,788 CEA Industries Inc.
First Quarter 2025 Financial Summary (in $ thousands, excl.margin items): Q1 2025(unaudited) Q4 2024(unaudited) Q1 2024(unaudited) Revenue $713 $417 $235 Gross Profit (Loss) $39 $(175) $(154)Operating Expenses $1,113 $850 $769 Net Income/(Loss) $(1,069) $(1,019) $(917) "We continue to uphold our lean operating model, emphasizing disciplined expense management and capital preservation as we support our pending acquisition and work through our remaining backlog,” said Tony McDonald, Chairman and CEO of CEA Industries.
We look forward to sharing additional updates as we work toward closing the transaction.” First Quarter 2025 Financial Results Revenue in the first quarter of 2025 increased to $0.7 million compared to $0.2 million for the same period in 2024.
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