Cemtrex Inc
NASDAQ:CETX
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Cemtrex Inc
Cemtrex, Inc. engages in the provision of solutions in the technology. The company is headquartered in Brooklyn, New York and currently employs 344 full-time employees. The company went IPO on 2001-06-21. The company operates through two segments: Advanced Technologies (AT) and Industrial Services (IS). The AT operates several brands that deliver software and hardware technologies, such as Vicon Industries, which provides end-to-end video security solutions to corporate, industrial and governmental security; SmartDesk is focused on reinventing the workspace through developing fully integrated workplace solutions; Cemtrex XR (CXR) delivers virtual reality (VR) and augmented reality (AR) solutions; Virtual Driver Interactive (VDI) provides driver training simulation solution for all ages and skills; Bravo Strong is a gaming and content studio working to building games for the metaverse, and good tech provides mobile, Web, and enterprise software application development services for startups to large enterprises. The company IS segment offers services for rigging, millwrighting, plant maintenance, equipment erection, relocation, and disassembly.
Cemtrex, Inc. engages in the provision of solutions in the technology. The company is headquartered in Brooklyn, New York and currently employs 344 full-time employees. The company went IPO on 2001-06-21. The company operates through two segments: Advanced Technologies (AT) and Industrial Services (IS). The AT operates several brands that deliver software and hardware technologies, such as Vicon Industries, which provides end-to-end video security solutions to corporate, industrial and governmental security; SmartDesk is focused on reinventing the workspace through developing fully integrated workplace solutions; Cemtrex XR (CXR) delivers virtual reality (VR) and augmented reality (AR) solutions; Virtual Driver Interactive (VDI) provides driver training simulation solution for all ages and skills; Bravo Strong is a gaming and content studio working to building games for the metaverse, and good tech provides mobile, Web, and enterprise software application development services for startups to large enterprises. The company IS segment offers services for rigging, millwrighting, plant maintenance, equipment erection, relocation, and disassembly.
Revenue Steady: Cemtrex reported flat year-over-year revenue of $14.7 million in Q3 2024, with strong growth in Industrial Services offset by declines in Security.
Segment Divergence: Industrial Services revenue jumped 49% to $8.5 million, while Security segment revenue fell 31% to $6.2 million due to project delays.
Profitability Pressures: The company posted a $3.2 million operating loss versus $0.1 million operating income last year, mainly from lower Security gross profit and higher expenses.
Net Loss Expanded: Net loss widened significantly to $9.1 million from $1.2 million in Q3 2023.
Balance Sheet Bolstered: Cemtrex completed a $10 million public offering, improving cash and enabling debt repayment.
Optimistic Outlook: Management expects strong Security segment growth in fiscal 2025, and believes Industrial Services can exceed 30% annual revenue growth in fiscal 2024.
