v3.26.1
Note 17 - Segment Information
 12 Months Ended
Dec. 31, 2025
Notes  
Note 17 - Segment Information

Note 17 – Segment Information

 

The Company operates as one operating segment.  The Company’s chief operating decision maker (“CODM”) is its chief executive officer, who reviews financial information presented on a consolidated basis.  The CODM uses consolidated gross profit margin, operating margin, and net income to assess financial performance and allocate resources.  These financial metrics are used by the CODM to make key operating decisions such as the allocation of budget between cost of sales, sales and marketing, research and development, and general and administrative expenses.

 

The following table presents selected financial information with respect to the Company’s single operating segment for the years ended December 31, 2025, 2024 and 2023:

 

 

Year Ended December 31,

2025

 

2024

 

2023

Revenues

38,520   

 

40,903   

 

50,224   

Less:

 

 

 

 

 

Standard cost of sales

13,829   

 

13,406   

 

17,400   

Other cost of sales

2,690   

 

3,353   

 

2,786   

Gross Profit

22,001   

 

24,143   

 

30,038   

Gross Profit Margin

57.1% 

 

59.0% 

 

59.8% 

 

 

 

 

 

 

Sales & Marketing

2,051   

 

1,901   

 

1,685   

Research & Development

668   

 

813   

 

560   

Litigation Fees

1,355   

 

2,139   

 

1,660   

Amortization

2,126   

 

2,065   

 

5,692   

Other General & Administrative

4,399   

 

3,631   

 

3,664   

Operating Income

11,402   

 

13,594   

 

16,777   

Operating Income Margin

29.6% 

 

33.2% 

 

33.4% 

 

 

 

 

 

 

Other Income

 

 

 

 

 

Interest income

2,808   

 

3,367   

 

3,036   

Other income (expense)

(100)  

 

(159)  

 

276   

Income before income taxes

14,110   

 

16,802   

 

20,089   

Provision for income taxes

2,824   

 

2,928   

 

3,454   

Net Income

11,286   

 

13,874   

 

16,635   

 

See the consolidated financial statements for other financial information regarding the Company’s operating segment.