SEGMENT ANALYSIS (Tables)

12 Months Ended

Oct. 31, 2022

Segment Reporting [Abstract]

SCHEDULE OF SEGMENT REPORTING INFORMATION

		Marine Technology Business (Products)				Marine Engineering Business (Services)				Overhead				Total

Year Ended October 31, 2022

Net Revenues		$	14,724,688			$	7,501,115			$	-			$	22,225,803

Cost of Revenues			2,941,569				4,093,546				-				7,035,115

Gross Profit			11,783,119				3,407,569				-				15,190,688

Research & Development			2,207,500				30,420				-				2,237,920
Selling, General & Administrative			2,563,554				2,654,565				2,730,585				7,948,704

Total Operating Expenses			4,771,054				2,684,985				2,730,585				10,186,624

Income (Loss) from Operations			7,012,065				722,584				(2,730,585	)			5,004,064

Other Income (Expense)
Other Income			55,715				79,204				3,056				137,975
Interest Expense			(9,233	)			(71	)			(400	)			(9,704	)

Total Other Income			46,482				79,133				2,656				128,271

Income (Loss) before Income Taxes			7,058,547				801,717				(2,727,929	)			5,132,335

Income Tax (Expense) Benefit
Current Tax (Expense) Benefit			(868,162	)			39,422				(176,400	)			(1,005,140	)
Deferred Tax Benefit (Expense)			31,907				(41,657	)			183,776				174,026

Total Income Tax (Expense) Benefit			(836,255	)			(2,235	)			7,376				(831,114	)

Net Income (Loss)		$	6,222,292			$	799,482			$	(2,720,553	)		$	4,301,221

Supplemental Disclosures

Total Assets		$	33,348,805			$	12,662,109			$	916,544			$	46,927,458

Total Liabilities		$	2,432,750			$	526,195			$	585,704			$	3,544,649

Revenues from Intercompany Sales - eliminated from sales above		$	2,406,717			$	396,015			$	2,720,000			$	5,522,732

Depreciation and Amortization		$	602,583			$	96,776			$	39,370			$	738,729

Purchases of Long-lived Assets		$	1,123,475			$	36,862			$	90,887			$	1,251,224

CODA OCTOPUS GROUP, INC.

Notes to the Consolidated Financial Statements

October 31, 2022 and 2021

NOTE 13 -SEGMENT ANALYSIS (Continued)

		Marine Technology Business (Products)				Marine Engineering Business (Services)				Overhead				Total

Year Ended October 31, 2021

Net Revenues		$	15,804,222			$	5,527,305			$	-			$	21,331,527

Cost of Revenues			3,169,835				3,391,974				-				6,561,809

Gross Profit			12,634,387				2,135,331				-				14,769,718

Research & Development			2,509,107				473,569				-				2,982,676
Selling, General & Administrative			3,231,733				2,304,300				2,413,492				7,949,525

Total Operating Expenses			5,740,840				2,777,869				2,413,492				10,932,201

Income (Loss) from Operations			6,893,547				(642,538	)			(2,413,492	)			3,837,517

Other Income (Expense)
Other Income			354,373				1,079,374				1,635				1,435,382
Interest Expense			(1,738	)			(365	)			(17,552	)			(19,655	)

Total Other Income (Expense)			352,635				1,079,009				(15,917	)			1,415,727

Income (Loss) before Income Taxes			7,246,182				436,471				(2,429,409	)			5,253,244

Income Tax (Expense) Benefit
Current Tax Benefit (Expense)			35,032				(51,624	)			-				(16,592	)
Deferred Tax (Expense) Benefit			(418,338	)			409,205				(279,754	)			(288,887	)

Total Income Tax (Expense) Benefit			(383,306	)			357,581				(279,754	)			(305,479	)

Net Income (Loss)		$	6,862,876			$	794,052			$	(2,709,163	)		$	4,947,765

Supplemental Disclosures

Total Assets		$	30,631,442			$	14,117,747			$	716,230			$	45,465,419

Total Liabilities		$	3,166,999			$	849,306			$	400,041			$	4,416,346

Revenues from Intercompany Sales - eliminated from sales above		$	2,075,387			$	355,608			$	3,470,000			$	5,900,995

Depreciation and Amortization		$	780,434			$	114,022			$	29,617			$	924,073

Purchases of Long-lived Assets		$	793,995			$	51,907			$	118,302			$	964,204