v3.26.1
Unaudited Pro Forma Financial Information
12 Months Ended
Dec. 31, 2025
Unaudited Pro forma Financial Information [Abstract]  
Unaudited Pro Forma Financial Information

Note 6 – Unaudited Pro forma Financial Information

 

As described in Note 5 – Business Combinations, on November 10, 2025, the Company acquired a controlling interest in Drone Nerds, LLC and Anzu Robotics, LLC (collectively, the “Acquisition”).

  

The following unaudited pro forma consolidated financial information presents the combined results of operations of the Company and the acquired businesses as if the Acquisition had occurred on January 1, 2024, the beginning of the earliest period presented. The pro forma financial information has been prepared for comparative purposes only and does not necessarily reflect the results of operations that would have occurred had the Acquisition been completed on that date, nor is it indicative of future results of operations.

 

The unaudited pro forma information reflects adjustments that are directly attributable to the Acquisitions and are factually supportable, including:

 

Incremental amortization expense related to identifiable intangible assets acquired;
   
Interest expense associated with acquisition-related indebtedness;
   
Removal of transaction costs directly attributable to the Acquisition; and
   
Conforming accounting policy adjustments, where applicable.

 

The pro forma financial information does not include any anticipated cost savings, operating synergies, or other integration effects of the Acquisition.

 

The following unaudited pro forma consolidated financial information presents the combined results of operations of the Company and Drone Nerds as if the Acquisition had occurred on January 1, 2024 (in thousands, except per share amounts).

 

   Year Ended December 31, 
   2025   2024 
Revenues  $121,590   $111,201 
Net loss from continuing operations  $(39,042)  $(23,948)
Net loss attributable to common stockholders from continuing operations  $(40,785)  $(25,821)
Net loss per share – basic and diluted  $(2.50)  $(113.65)
Weighted average common shares outstanding – basic and diluted   16,337,782    227,193