v3.26.1
Note 16 - Segment Information
12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

Note 16 Segment Information

 

Operating segments are defined as components of an entity for which separate financial information is available and that is regularly provided to the Chief Operating Decision Maker (CODM) in deciding how to allocate resources to an individual segment and in assessing performance. The Company’s Chief Executive Officer is the Company’s CODM. The CODM reviews financial information presented by operating segment in making operating decisions, allocating resources, and evaluating financial performance.

 

The Company conducts the business through the following three operating segments: Drones, Sensors, and SaaS.

 

The accounting policies of the operating segments are the same as those described in Note 2. Non-allocated administrative and other expenses are reflected in Corporate. Corporate assets include cash, prepaid expenses, notes receivable, right of use asset and other assets.

 

As of  December 31, 2025 and 2024 and for the years then ended, operating information about the Company’s reportable segments consisted of the following:

 

Goodwill and Assets

 

  

Corporate

  

Drones

  

Sensors

  

SaaS

  

Total

 

As of December 31, 2025

                    

Assets

 $30,086,163  $8,821,960  $3,321,218  $  $42,229,341 
                     

As of December 31, 2024

                    

Goodwill

 $  $  $4,459,644  $  $4,459,644 

Assets

 $3,804,628  $7,028,158  $9,744,152  $4,616  $20,581,554 

 

 

 

Net (Loss) Income

 

  

Corporate

  

Drones

  

Sensors

  

SaaS

  

Total

 

Year ended December 31, 2025

                    

Revenues

 $  $7,857,059  $4,954,023  $  $12,811,082 

Cost of sales

     3,385,315   2,785,853      6,171,168 

Compensation and related expenses

  988,466   4,918,999   1,668,747      7,576,212 

Professional fees

  685,515   440,631   219,797      1,345,943 

Other operating expenses

  2,456,409   2,961,431   1,130,55   107,647   

 

 

Impairment charge

        5,792,932      5,792,932 

Loss from operations

 $(4,130,390) $(3,849,319) $(6,643,361) $(107,647) $(14,730,717)

Other income (expense), net

  9,280,600   (301,905)  472,305      9,451,000 

Net loss

 $5,150,210  $(4,151,224) $(6,171,056) $(107,647) $(5,279,717)
                     

Year ended December 31, 2024

                    

Revenues

 $  $6,410,305  $6,663,196  $319,276  $13,392,777 

Cost of sales

     3,288,665   3,534,296   281,180   7,104,141 

Compensation and related expenses

  457,324   5,643,297   1,325,552   827,418   8,253,591 

Professional fees

  656,699   794,842   634,186   271,888   2,357,615 

Other operating expenses

  2,701,359   1,946,947   451,447   270,046   5,369,799 

Impairment charge

        2,943,000      2,943,000 

Loss from operations

 $(3,815,382) $(5,263,446) $(2,225,285) $(1,331,256) $(12,635,369)

Other income (expense), net

  (22,331,474)  (60,841)  (13,989)     (22,406,304)

Net loss

 $(26,146,856) $(5,324,287) $(2,239,274) $(1,331,256) $(35,041,673)

 

Other segment expenses are primarily comprised of software and IT related subscriptions, rent, insurance, listing fees to be public, and other general and administrative costs.

 

Revenues by Geographic Area

 

  

Drones

  

Sensors

  

SaaS

  

Total

 

Year ended December 31, 2025

                

North America

 $617,812  $1,349,831  $  $1,967,643 

Latin America

  1,197,747   219,947      1,417,694 

Europe, Middle East and Africa

  5,807,471   1,850,191      7,657,662 

Asia Pacific

  234,029   1,368,145      1,602,174 

Other

     165,909      165,909 

Total

 $7,857,059  $4,954,023  $  $12,811,082 
                 

Year ended December 31, 2024

                

North America

 $1,806,630  $1,956,620  $310,633  $4,073,883 

Latin America

  1,040,864   284,509   5,185   1,330,558 

Europe, Middle East and Africa

  3,299,302   2,863,566   495   6,163,363 

Asia Pacific

  263,509   1,367,301   2,468   1,633,278 

Other

     191,200   495   191,695 

Total

 $6,410,305  $6,663,196  $319,276  $13,392,777