v3.25.2
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue $ 14,108,585 $ 13,201,330 $ 26,367,672 $ 25,853,116
Cost of revenue 9,696,307 9,868,067 17,958,403 18,796,560
Gross profit 4,412,278 3,333,263 8,409,269 7,056,556
Operating expenses:        
General and administrative 2,386,201 2,407,398 4,752,571 4,501,715
Marketing and selling 2,325,130 2,255,128 4,543,319 4,175,241
Research and development 1,524,900 925,602 2,882,192 1,896,479
Total operating expenses 6,236,231 5,588,128 12,178,082 10,573,435
Loss from operations (1,823,953) (2,254,865) (3,768,813) (3,516,879)
Other (expense) income, net:        
Interest income 50,296 118,619 122,807 260,344
Interest expense (13,690) (19,103) (27,876) (54,445)
Other (expense) income, net (9,195) 21,831 (30,828) 29,109
Total other income, net 27,411 121,347 64,103 235,008
Loss before income taxes (1,796,542) (2,133,518) (3,704,710) (3,281,871)
Provision for income taxes 224,188 211,027 333,654 402,296
Net loss $ (2,020,730) $ (2,344,545) $ (4,038,364) $ (3,684,167)
Net loss per share:        
Basic $ (0.09) $ (0.11) $ (0.19) $ (0.18)
Diluted $ (0.09) $ (0.11) $ (0.19) $ (0.18)
Weighted average common shares outstanding:        
Basic 21,687,808 20,931,798 21,534,925 20,820,516
Diluted 21,687,808 20,931,798 21,534,925 20,820,516
Product        
Revenue $ 13,723,583 $ 11,753,124 $ 25,572,295 $ 24,040,170
Cost of revenue 9,445,428 8,703,324 17,357,742 17,522,080
Customer Funded Development        
Revenue 385,002 1,448,206 795,377 1,812,946
Cost of revenue $ 250,879 $ 1,164,743 $ 600,661 $ 1,274,480