v3.25.2
Foreign Operations
 12 Months Ended
Jun. 30, 2025
Foreign Operations  
Foreign Operations

16. Foreign Operations

 

Assets and liabilities denominated in non-U.S. currencies are translated at rates of exchange prevailing on the balance sheet date, and revenues and expenses are translated at average rates of exchange for the period. Gains or losses on the translation of the financial statements of a non-U.S. operation, where the functional currency is other than the U.S. dollar, are reflected as a separate component of equity, which was a cumulative gain of approximately $1.0 million and $0.5 million as of June 30, 2025 and 2024, respectively. During the years ended June 30, 2025 and 2024, we also recognized net foreign currency transaction losses of approximately $0.1 million and gains of approximately $0.1 million, respectively, included in the accompanying consolidated statements of comprehensive income (loss) in the line item entitled “Other income, net.”

 

Revenues from foreign countries for the fiscal years ended June 30, 205 and 2024 as follows:

 

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

Revenues:

 

 

 

 

 

 

United States

 

$22,956,327

 

 

$19,289,711

 

Europe

 

 

9,096,444

 

 

 

7,987,135

 

China

 

 

2,912,179

 

 

 

2,513,781

 

Other Asian countries

 

 

1,004,132

 

 

 

1,190,410

 

Rest of world

 

 

1,233,548

 

 

 

745,155

 

 

 

$37,202,630

 

 

$31,726,192

 

 

Long-lived assets located in foreign countries as of June 30, 2025 and 2024 are as follows:

 

 

 

June 30,

2025

 

 

June 30,

2024

 

Long-lived assets:

 

 

 

 

 

 

United States

 

$45,982,722

 

 

$24,989,477

 

Latvia

 

 

4,848,441

 

 

 

4,961,741

 

China

 

 

2,300,608

 

 

 

2,615,410

 

 

 

$53,131,771

 

 

$32,566,628