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Note 15 - Segment Reporting
 6 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

15. 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 CODM 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 segment derives its revenues is described in Note 5, Revenue. The accounting policies of the optics segment are the same as those described in Note 2, Significant Accounting Policies, to these Condensed Consolidated Financial Statements. The measure of segment assets is reported on the consolidated balance sheet as total assets. See Note 5, Revenue, for detail about revenue by product and service group, and Note 14, Foreign Operations, for geographic information.

 

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

  

Three Months Ended

  

Six Months Ended

 
  

December 31,

  

December 31,

 
  

2025

  

2024

  

2025

  

2024

 

Revenue

 $16,351,652  $7,424,829  $31,409,933  $15,825,210 

Cost of goods sold

  10,331,322   5,493,998   20,907,031   11,049,950 

Segment gross profit

  6,020,330   1,930,831   10,502,902   4,775,260 
                 

Less:

                

Sales & marketing

  741,655   688,743   1,563,864   1,334,767 

General & administrative

  2,341,155   1,390,507   4,667,163   2,708,677 

Corporate

  2,776,651   1,276,813   4,012,304   2,583,202 

New product development

  748,829   764,396   1,616,257   1,240,837 

Loss on disposal of equipment

  17   —   4,016   78,437 

Amortization of intangible assets

  450,526   294,711   901,050   690,487 

Change in fair value of acquisition liabilities

  7,559,000   —   8,841,529   — 

Interest expense, net

  285,023   169,053   553,876   318,413 

Other income (expense), net

  492,327   (85,920)  529,428   (4,979)

Provision for income taxes

  30,556   44,525   111,826   60,161 

Segment net loss

  (9,405,409)  (2,611,997)  (12,298,411)  (4,234,742)

Reconciliation of profit or loss

                

Adjustments and reconciling items

  —   —   —   — 

Consolidated net loss

 $(9,405,409) $(2,611,997) $(12,298,411) $(4,234,742)