v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information

Note 15– 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 comprises the Company’s CODM. The CODM reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance. The CODM uses consolidated net (loss) income as the primary metric to assess performance and the allocation of resources. As such, the Company has determined that it operates as one operating and reportable segment. Segment assets, liabilities and stockholders’ equity is presented the same as disclosed on the consolidated balance sheets.

The following tables set forth significant expense categories and other specified amounts included in consolidated net income that are otherwise regularly provided to the CODM for the three months and six months ended June 30, 2026 and 2025:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Revenue

 

$

7,899,249

 

 

$

10,963,174

 

 

$

14,034,779

 

 

$

26,930,195

 

Cost of goods sold

 

 

3,058,588

 

 

 

685,177

 

 

 

5,434,627

 

 

 

1,538,615

 

Gross profit

 

 

4,840,661

 

 

 

10,277,997

 

 

 

8,600,152

 

 

 

25,391,580

 

 

 

 

 

 

 

 

 

 

 

 

 

General and administrative

 

 

521,980

 

 

 

700,222

 

 

 

1,017,523

 

 

 

1,412,898

 

Research and development

 

 

23,430

 

 

 

30,645

 

 

 

49,644

 

 

 

50,900

 

Sales and marketing

 

 

917,430

 

 

 

109,044

 

 

 

1,375,866

 

 

 

239,460

 

Professional fees

 

 

5,020,081

 

 

 

4,751,253

 

 

 

11,119,844

 

 

 

9,194,599

 

Compensation and related

 

 

6,069,110

 

 

 

4,513,335

 

 

 

11,092,759

 

 

 

9,016,939

 

Depreciation and amortization

 

 

689,317

 

 

 

60,739

 

 

 

1,229,754

 

 

 

114,700

 

Interest income, net

 

 

(23,362

)

 

 

(64,785

)

 

 

(87,037

)

 

 

(93,332

)

Other expense (income)

 

 

594,035

 

 

 

(409

)

 

 

592,864

 

 

 

(3,070

)

Income tax expense

 

 

-

 

 

 

167,340

 

 

 

-

 

 

 

1,539,751

 

Segment expense

 

 

13,812,021

 

 

 

10,267,384

 

 

 

26,391,217

 

 

 

21,472,845

 

Net (loss) income

 

$

(8,971,360

)

 

$

10,613

 

 

$

(17,791,065

)

 

$

3,918,735

 

 

Note that the amounts presented above for research and development, sales and marketing, and general and administrative are exclusive of share-based compensation, payroll, and professional fee expenses.