$MAMO

Massimo Group

CIK:0001952853|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 14,918,102	$ 18,915,918	$ 27,633,098	$ 33,817,640
Cost of revenues	7,636,008	12,049,501	15,275,423	22,726,573
Gross profit	7,282,094	6,866,417	12,357,675	11,091,067
Operating expenses:
Selling expense	1,704,350	2,154,417	2,968,655	4,024,381
General and administrative expenses	3,626,877	4,425,166	7,847,716	8,644,766
Research and development expenses	289,457	144,757	918,219	985,953
Total operating expenses	5,620,684	6,724,340	11,734,590	13,655,100
Income from operations	1,661,410	142,077	623,085	(2,564,033)
Other income (expense):
Other income, net	132,623	26,602	135,404	105,300
Unrealized loss on crypto assets	(52,912)		(188,037)
Interest expense	(8,541)	(63,704)	(14,283)	(64,794)
Total other income (expense), net	71,170	(37,102)	(66,916)	40,506
Income before income taxes	1,732,580	104,975	556,169	(2,523,527)
Provision for income taxes	280,218	27,296	111,357	(512,499)
Net income and comprehensive income	$ 1,452,362	$ 77,679	$ 444,812	$ (2,011,028)
Earnings per Share – basic	$ 0.03		$ 0.01	$ (0.05)
Weighted average shares outstanding – basic	41,640,950	41,566,110	41,640,950	41,566,110
Earnings per Share –diluted	$ 0.03		$ 0.01	$ (0.05)
Weighted average shares outstanding –diluted	41,640,950	41,640,950	41,640,950	41,566,110

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Cash flows from operating activities:
Net income (loss)	$ 1,452,362	$ 77,679	$ 444,812	$ (2,011,028)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	66,447	33,503	105,509	67,005
Non-cash operating lease expense			1,047,102	1,036,202
Accretion of finance lease liabilities	334	784	876	1,680
Amortization of finance lease right-of-use assets	6,113	10,380	16,493	20,529
Fair value loss on Crypto assets	52,912		188,037
Loss on disposal of property and equipment			24,346
Provision for expected credit loss, net	102,752	(75,474)	76,757	(25,465)	$ 109,682
Impairment loss of advances to supplier due to lawsuit
Stock-option compensation (reversal)			(82,599)	157,288
Restricted stock unit compensation				307,379
Deferred tax assets			(200,618)	(521,498)
Changes in operating assets and liabilities:
Accounts receivable			270,602	(3,277,941)
Inventories			2,366,419	3,848,304
Advance to suppliers			19	(242,702)
Other assets			(1,273,136)	266,460
Due from a related party				8,576
Accounts payables			(2,358,795)	(3,329,249)
Other payable, accrued expense and other current liabilities			(104,545)	23,472
Tax payable			311,974	8,998
Accrued warranty liabilities			(8,826)	(201,908)
Accrued return liabilities			(5,832)	(229,943)
Contract liabilities			151,756	405,267
Due to shareholder
Lease liabilities – operating lease			(1,039,314)	(1,042,721)
Net cash (used in) provided by operating activities			(68,963)	(4,731,295)
Cash flows from investing activities:
Proceed from sales of property and equipment			10,000
Purchases of property and equipment	(406,376)		(668,834)
Purchase of intangible assets			(403,746)
Proceeds from short-term investment
Net cash used in investing activities			(1,062,580)
Cash flows from financing activities:
Net proceeds from bank loan
Repayment of other loans
Repayment of finance lease liabilities			(18,592)	(21,482)
Repayment of shareholder loan				(3,016,300)
Proceed from common share issuances
Proceeds from initial public offering, net of share issuance costs
Due to shareholder
Proceeds from subscription deposits
Net cash provided by (used in) financing activities			(18,592)	(3,037,782)
Net increase (decrease) in cash and cash equivalents			(1,150,135)	(7,769,077)
Cash and cash equivalents, beginning of the period			5,787,993	10,210,084	10,210,084
Cash and cash equivalents, end of the period	$ 4,637,858	$ 2,441,007	4,637,858	2,441,007	$ 5,787,993
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for interest			14,283	64,794
Cash paid for income taxes
NON-CASH ACTIVITIES
Right of use assets obtained in exchange for operating lease obligations

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
CURRENT ASSETS
Cash and cash equivalents	$ 4,637,858	$ 5,787,993
Accounts receivable, net	4,979,678	5,327,037
Inventories, net	23,641,134	26,007,553
Advance to suppliers	193,384	193,403
Prepaid and other current assets	3,804,393	2,531,257
Total current assets	37,256,447	39,847,243
NON-CURRENT ASSETS
Property and equipment at cost, net	985,056	456,078
Right of use operating lease assets, net	6,341,211	7,388,313
Right of use financing lease assets, net	14,020	30,513
Intangible assets	403,746
Crypto Assets	385,297	573,333
Other non-current assets	49,500	49,500
Deferred tax assets	3,288,449	3,087,831
Total non-current assets	11,467,279	11,585,568
TOTAL ASSETS	48,723,726	51,432,811
CURRENT LIABILITIES
Accounts payable	5,367,763	7,726,558
Other payable, accrued expenses and other current liabilities	6,129,138	6,233,684
Return liabilities	6,334	12,166
Warranty liabilities	143,969	152,795
Contract liabilities	760,927	609,171
Current portion of obligations under operating leases	1,873,120	1,956,045
Current portion of obligations under financing leases	10,253	23,927
Income tax payable	3,851,421	3,539,447
Due to a shareholder	2,000,089	2,000,089
Total current liabilities	20,143,014	22,253,882
NON-CURRENT LIABILITIES
Obligations under operating leases, non-current	4,500,259	5,456,648
Obligations under financing leases, non-current	5,635	9,676
Total non-current liabilities	4,505,894	5,466,324
TOTAL LIABILITIES	24,648,908	27,720,206
Commitments and Contingencies
EQUITY
Common shares, $0.001 par value, 100,000,000 shares authorized, 41,640,950 shares issued and outstanding as of June 30, 2026 and December 31, 2025	41,640	41,640
Additional paid-in-capital	7,031,151	7,113,750
Retained earnings	17,002,027	16,557,215
Total equity	24,074,818	23,712,605
TOTAL LIABILITIES AND EQUITY	$ 48,723,726	$ 51,432,811