v3.26.1
Segment Information
6 Months Ended
Jun. 30, 2026
Segment Information  
Segment Information

Note 11. Segment Information

Operating segments are components of an enterprise that engage in business activities for which discrete financial information is available and regularly reviewed by the chief operating decision maker ("CODM") in deciding how to allocate resources and assess performance. Our CODM is our Chief Executive Officer.

We operate as one operating and reportable segment, in one location, as a global supplier and manufacturer of advanced materials for Physical Vapor Deposition thin film applications. We are managed on a consolidated basis and derive substantially all of our revenue from the sale and support of one group of similar products from customers with multinational operations.   The accounting policies of the Company's operating segment are the same as those described in Note 2, Summary of Significant Accounting Policies. Our CODM does not receive profitability information at a lower level than consolidated results and evaluates net income on a consolidated basis to set financial performance targets. Our CODM assesses performance, and makes resource allocation decisions, primarily through comparison of actual results to forecasted results, year-over-year analysis, and review of historical performance trends. The measure of segment assets is reported on the Company's consolidated balance sheets as total consolidated assets.

Note 11. Segment Information (continued)

The Company's significant expenses and other segment items are provided in the table below:

THREE MONTHS ENDED JUNE 30,

SIX MONTHS ENDED JUNE 30,

2026

2025

2026

2025

Revenue

$

9,485,119

$

3,609,304

$

17,645,481

$

7,109,536

Cost of revenue

7,208,664

2,451,147

13,333,906

4,878,565

General and administrative expense

512,090

549,540

1,154,133

1,097,361

Fraud expense

562,026

Research and development expense

147,433

107,374

290,043

209,641

Marketing and sales expense

217,466

145,436

416,983

265,623

Stock Based Compensation

87,129

Other segment items, net 1

(229,190)

8,652

(168,723)

15,830

Net income

$

1,170,276

$

364,459

$

1,632,538

$

674,176

1 Includes interest income, net less income tax expense.