Note 14 - Foreign Operations |
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| Foreign Currency Disclosure [Text Block] |
14. 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 $1.3 million and $1.0 million as of December 31, 2025 and June 30, 2025, respectively. For the three months ended December 31, 2025 and 2024, we recognized net foreign currency transaction losses of $0.01 million and gains of $0.4 million, respectively. We also recognized net foreign currency transaction losses of $0.06 million and a gain of $0.01 million for the six months ended December 31, 2025 and 2024, respectively, included in the Condensed Consolidated Statements of Comprehensive Income (Loss) in the line item entitled “Other income (expense), net.”
Our cash and cash equivalents totaled approximately $73.6 million at December 31, 2025. Of this amount, approximately 4% was held by our foreign subsidiaries in China and Latvia. These foreign funds were generated in China and Latvia as a result of foreign earnings. With respect to the funds generated by our foreign subsidiaries in China, the retained earnings of the respective subsidiary must equal at least 50% of its registered capital before any funds can be repatriated through dividends. As of December 31, 2025, LPOIZ had approximately $0.5 million in retained earnings available for repatriation, based on earnings accumulated through December 31, 2025, the end of the most recent statutory tax year, that remained undistributed as of December 31, 2025.
Revenues from foreign countries for the six months ended December 31, 2025 and 2024 are as follows:
Long-lived assets located in foreign countries as of December 31, 2025 and June 30, 2025 are as follows:
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