v3.26.1
Note 10 - Segment Information
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Segment Reporting [Text Block]

10. SEGMENT INFORMATION

 

Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision-maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company has one operating segment which develops high-performance MMIC products for wireless connectivity. The Company’s Chief Executive Officer, Ryan Pratt, is the Chief Decision Maker and reviews financial information presented on a consolidated basis for purposes of making operating decisions and assessing financial performance. The Company does not assess the performance of its individual product lines on measures of profit or loss, or asset-based metrics.

 

The table below presents the Company’s consolidated operating results including significant segment expenses for the three and six months ended June 30, 2026 and 2025:

 

  

For the Three Months Ended June 30,

  

For the Six Months Ended June 30,

 
  

2026 (unaudited)

  

2025 (unaudited)

  

2026 (unaudited)

  

2025 (unaudited)

 

Revenue

 $8,011,610  $5,369,147  $14,473,364  $9,742,051 

Less:

                

Direct materials

  1,707,628   1,321,413   3,030,997   2,501,065 

Other direct product costs (a)

  622,884   563,391   1,244,719   1,086,519 

Gross Profit

  5,681,098   3,484,343   10,197,648   6,154,467 

Operating Expenses:

                

Research and development

  2,073,444   2,169,789   4,057,234   4,662,716 

Sales and marketing

  1,511,340   1,483,897   3,122,020   3,369,362 

General and administrative

  1,132,744   1,185,731   2,101,104   2,639,291 

Total Operating Expenses

  4,717,528   4,839,417   9,280,358   10,671,369 
                 

Segment Operating Income (Loss)

  963,570   (1,355,074)  917,290   (4,516,902)
                 

Total Other Income (Expense), net

  (3,196,431)  884,332   (2,028,546)  503,295 

Net Income (Loss) Before Income Taxes

 $(2,232,861) $(470,742) $(1,111,256) $(4,013,607)

 

(a)

Includes shipping costs, intangible amortization and overhead.