| SEGMENT REPORTING |
NOTE
13 – SEGMENT REPORTING
During
the three months ended March 31, 2025 and 2024, the Company operated in three reportable business segments which consisted of (1) the
business of Safe-Pro USA, (2) the business of Airborne Response, and (3) the business of Safe Pro AI. The Company’s reportable
segments are strategic business units that offer different products. They are managed separately based on the fundamental differences
in their operations and locations.
SAFE
PRO GROUP INC. AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
FOR THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024
(unaudited)
Information
with respect to these reportable business segments for the three months ended March 31, 2025 and 2024 was as follows:
SCHEDULE
OF BUSINESS SEGMENT REPORTING
| | |
2025 | | |
2024 | |
| | |
For the Three Months Ended
March 31, | |
| | |
2025 | | |
2024 | |
| Revenues: | |
| | |
| |
| Safe-Pro USA | |
$ | 140,600 | | |
$ | 222,356 | |
| Airborne Response | |
| 4,204 | | |
| 85,297 | |
| Safe Pro AI | |
| 39,998 | | |
| - | |
| Revenues | |
| 184,802 | | |
| 307,653 | |
| Depreciation and amortization (a): | |
| | | |
| | |
| Safe-Pro USA(a) | |
| 26,978 | | |
| 27,312 | |
| Airborne Response(a) | |
| 29,099 | | |
| 32,998 | |
| Safe Pro AI(a) | |
| 46,928 | | |
| - | |
| Other (b)(a) | |
| 361 | | |
| 367 | |
| Depreciation
and amortization(a) | |
| 103,366 | | |
| 60,677 | |
| Interest expense: | |
| | | |
| | |
| Safe-Pro USA | |
| 94 | | |
| - | |
| Airborne Response | |
| 201 | | |
| 2,142 | |
| Safe Pro AI | |
| - | | |
| - | |
| Other (b) | |
| 1,350 | | |
| 56,832 | |
| Interest expense | |
| 1,645 | | |
| 58,974 | |
| | |
| | | |
| | |
| Net (loss) income: | |
| | | |
| | |
| Safe-Pro USA | |
| (65,689 | ) | |
| (63,477 | ) |
| Airborne Response | |
| (146,425 | ) | |
| (144,667 | ) |
| Safe Pro AI | |
| (146,931 | ) | |
| (85,937 | ) |
| Other (b) | |
| (3,605,972 | ) | |
| (849,779 | ) |
| Net (loss) income | |
$ | (3,965,017 | ) | |
$ | (1,143,860 | ) |
| (a) | | Depreciation is
recorded in Safe-Pro USA, Airborne Response and Safe Pro AI in cost of sales on the Company’s condensed consolidated unaudited
statement of operations in cost of sales and has been described above, separately. |
| (b) | | The Company does
not allocate any general and administrative or financing expenses of its holding company activities to its reportable segments, because
these activities are managed at the corporate level. |
| | |
March 31, 2025 | | |
December 31, 2024 | |
| Identifiable long-lived tangible assets, net by segment: | |
| | | |
| | |
| Safe-Pro USA | |
$ | 30,446 | | |
$ | 45,553 | |
| Airborne Response | |
| 173,339 | | |
| 197,291 | |
| Safe Pro AI | |
| 905,631 | | |
| 845,801 | |
| Other (a) | |
| - | | |
| - | |
| Long
lived tangible assets | |
$ | 1,109,416 | | |
$ | 1,088,645 | |
|
NOTE
15 – SEGMENT REPORTING
During
the year ended December 31, 2024 and 2023, the Company operated in three reportable business segments which consisted of (1) the business
of Safe-Pro USA, (2) the business of Airborne Response, and (3) the business of Safe Pro AI. The Company’s reportable segments
are strategic business units that offer different products. They are managed separately based on the fundamental differences in their
operations and locations.
SAFE
PRO GROUP INC. AND SUBSIDIARIES
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
FOR
THE YEARS ENDED DECEMBER 31, 2024 AND 2023
Information
with respect to these reportable business segments for the years ending December 31, 2024 and 2023 was as follows:
SCHEDULE
OF BUSINESS SEGMENT REPORTING
| | |
2024 | | |
2023 | |
| | |
For the Years Ended
December 31, | |
| | |
2024 | | |
2023 | |
| Revenues: | |
| | | |
| | |
| Safe-Pro USA | |
$ | 873,274 | | |
$ | 622,455 | |
| Airborne Response | |
| 1,280,863 | | |
| 295,265 | |
| Safe Pro AI | |
| 15,041 | | |
| - | |
| Revenues | |
| 2,169,178 | | |
| 917,720 | |
| Depreciation and amortization: | |
| | | |
| | |
| Safe-Pro USA | |
| 109,702 | | |
| 108,965 | |
| Airborne Response | |
| 155,359 | | |
| 128,821 | |
| Safe Pro AI | |
| 74,550 | | |
| - | |
| Other (a) | |
| 1,472 | | |
| 1,223 | |
| Depreciation and amortization | |
| 341,083 | | |
| 239,009 | |
| Interest expense: | |
| | | |
| | |
| Safe-Pro USA | |
| 6,717 | | |
| 5,724 | |
| Airborne Response | |
| 983 | | |
| - | |
| Safe Pro AI | |
| - | | |
| - | |
| Other (a) | |
| 298,816 | | |
| 2,503 | |
| Interest expense | |
| 306,516 | | |
| 8,227 | |
| | |
| | | |
| | |
| Net (loss) income: | |
| | | |
| | |
| Safe-Pro USA | |
| (366,564 | ) | |
| (453,318 | ) |
| Airborne Response | |
| (182,966 | ) | |
| (449,306 | ) |
| Safe Pro AI | |
| (375,332 | ) | |
| (373,665 | ) |
| Other (a) | |
| (6,503,599 | ) | |
| (5,056,370 | ) |
| Net (loss) income | |
$ | (7,428,461 | ) | |
$ | (6,314,649 | ) |
| (a) |
The Company does not allocate
any general and administrative or financing expenses of its holding company activities to its reportable segments, because these
activities are managed at the corporate level. |
| |
|
December
31, 2024 |
|
|
December
31, 2023 |
|
| Identifiable long-lived tangible assets, net by segment: |
|
|
|
|
|
|
|
|
| Safe-Pro USA |
|
$ |
217,134 |
|
|
$ |
265,402 |
|
| Airborne Response |
|
|
71,444 |
|
|
|
49,895 |
|
| Safe Pro AI |
|
|
22,143 |
|
|
|
- |
|
| Other (a) |
|
|
4,160 |
|
|
|
5,631 |
|
| Long
lived tangible assets |
|
$ |
314,881 |
|
|
$ |
320,928 |
|
|