KYMA Batteries LLC's financial statements for the year ended December 31, 2024, provide a detailed insight into its financial position, revealing a breakdown of assets, liabilities, revenue, and expenses.
The company's balance sheet reflects total assets of $565,525, of which current assets amount to $297,320.
On the liabilities side, KYMA Batteries LLC reports total liabilities of $271,376, with member's equity standing at $294,149.
Assets Breakdown
Current assets consist of cash and cash equivalents totaling $67,607 and prepaid expenses amounting to $229,713, indicating a strong liquidity position for short-term obligations.
Operating Expenses
The significant operating expenses disclosed include employment expenses of $762,784, research and development costs of $1,085,480, and general and administrative expenditures of $909,804, underscoring the company's investment in growth and innovation.
No Critical Audit Matters
The absence of critical audit matters in the independent audit signifies a well-organized financial reporting process, boosting confidence in the accuracy and transparency of KYMA Batteries LLC's financial disclosures.
- The financial statements offer a comprehensive snapshot of KYMA Batteries LLC's financial health and performance for FY2024, emphasizing the importance of sustainable cost management and revenue generation strategies.
- While the specific revenue figure for 2024 is undisclosed, the substantial operating expenses totaling $2,758,068 resulted in a net loss for the fiscal year, indicating a need for operational efficiency and profitability improvement measures.
KYMA Batteries LLC's financial performance in FY2024 underscores the critical imperative for the company to prioritize cost optimization and revenue growth initiatives to bolster its profitability and operational resilience in the competitive market landscape.