v3.25.2
Segment Reporting
 12 Months Ended
Jun. 30, 2025
Segment Reporting  
Segment Reporting

17. Segment Reporting

 

The Company has one reportable operating segment, the optics segment that is managed on a consolidated basis. The optics segment designs and manufactures products at locations in the U.S., Europe and Asia and manages the business activities on a consolidated basis. Our Chief Operating Decision Maker (“CODM”) is the chief executive officer. The chief operating decision maker assesses performance for the optics segment and decides how to allocate resources based on consolidated net loss that also is reported on the consolidated statements of comprehensive income (loss) as consolidated net loss. The types of products and services from which the optics segments derives its revenues is described in Note 4, Revenue. The accounting policies of the optics segment are the same as those described in Note 2, Significant Accounting Policies, to these Consolidated Financial Statements. The measure of segment assets is reported on the consolidated balance sheet as total assets. See Note 4, Revenue for detail about revenue by product and service group, and Note 16, Foreign Operations, for geographic information. See Note 18, Supplier and Customer Concentrations, for information about major customers.

 

The CODM uses consolidated net loss to evaluate income generated from segment assets, and to determine whether to invest in new capabilities related to this segment. The CODM monitors budget to actual results for revenue, gross profit, operating expenses and net loss on a consolidated basis. The CODM reporting package includes non-operating items to reconcile to net income. The following table represents the financial information regularly reviewed by the CODM, in addition to the Consolidated Financial Statements. Interest expense is reported on consolidated statements of comprehensive income (loss) as interest expense, net; depreciation and amortization expense, stock-based compensation expense, and total expenditures for long-lived assets are reported on the consolidated statement of cash flows.

 

 

 

Optics Segment

 

 

 

Year Ended June 30,

 

 

 

2025

 

 

2024

 

Revenue

 

$37,202,630

 

 

$31,726,192

 

Cost of goods sold

 

 

27,072,516

 

 

 

23,094,946

 

Segment gross profit

 

 

10,130,114

 

 

 

8,631,246

 

 

 

 

 

 

 

 

 

 

Less:

 

 

 

 

 

 

 

 

Sales & marketing

 

 

3,153,185

 

 

 

2,055,822

 

General & administrative

 

 

6,560,277

 

 

 

5,145,411

 

Corporate

 

 

6,101,165

 

 

 

5,096,150

 

New product development

 

 

3,063,772

 

 

 

2,400,420

 

Loss on disposal of equipment

 

 

99,334

 

 

 

124,584

 

Amortization of intangible assets

 

 

1,414,817

 

 

 

1,635,523

 

Change in fair value of acquisition liabilities

 

 

1,560,445

 

 

 

—

 

Interest expense, net

 

 

1,118,213

 

 

 

191,862

 

Other non-operating income (expense)(1)

 

 

1,894,298

 

 

 

(78,670)

Provision for income taxes

 

 

37,790

 

 

 

67,490

 

Segment net loss

 

 

(14,873,182)

 

 

(8,007,346)

Reconciliation of profit or loss

 

 

 

 

 

 

 

 

Adjustments and reconciling items

 

 

—

 

 

 

—

 

Consolidated net loss

 

$(14,873,182)

 

$(8,007,346)

 

(1) Other non-operating income (expense) includes loss on extinguishment of debt, change in fair value of warrant liability, and other income (expense), net, each of which is presented on the consolidated statements of comprehensive income (loss).