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

Note 10 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.

 

During the six months ended June 30, 2026, the Company conducted the business through two primary operating segments: Drones and Sensors. During the year ended December 31,2024, our Software-as-a-service segment ceased operations and did not renew any of its software subscriptions. Transactions in this segment during 2025 consisted primarily of run-off related expenses until this segment was fully shut down. In February 2025, we sold the Measure Global, Inc. domain name and received approximately $250,000 in cash proceeds which has been reflected within other income on the unaudited condensed consolidated statements of operations as the domain name had a net book value of $0.

 

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, right-of-use assets and other assets.

 

 

As of June 30, 2026 and December 31, 2025 and for the three and six months ended June 30, 2026 and 2025, operating information about the Company’s reportable segments consisted of the following:

 

Assets

 

  

Corporate

  

Drones

  

Sensors

  

SaaS

  

Total

 

As of June 30, 2026

                    

Assets

 $26,012,007  $7,256,333  $4,595,432  $  $37,863,772 
                     

As of December 31, 2025

                    

Assets

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

 

Net Income (Loss)

 

  

Corporate

  

Drones

  

Sensors

  

SaaS

  

Total

 

Three Months Ended June 30, 2026

                    

Revenues

 $  $1,074,393  $1,611,578  $  $2,685,971 

Cost of sales

     525,353   800,665      1,326,018 

Compensation and related expenses

  189,004   1,663,869   556,740      2,409,613 

Professional fees

  1,135,542   104,100   86,366      1,326,008 

Other operating expenses

  697,690   1,013,760   1,518,513      3,229,963 

Income (loss) from operations

 $(2,022,236) $(2,232,689) $(1,350,706) $  $(5,605,631)

Other income (expense), net

 $(9,755,181) $(25,917) $  $  $(9,781,098)

Net income (loss)

 $(11,777,417) $(2,258,606) $(1,350,706) $  $(15,386,729)
                     

Three Months Ended June 30, 2025

                    

Revenues

 $  $2,737,498  $1,460,063  $  $4,197,561 

Cost of sales

     1,094,662   763,020      1,857,682 

Compensation and related expenses

  219,835   1,162,894   413,421      1,796,150 

Professional fees

  172,900   172,316   73,858      419,074 

Other operating expenses

  650,353   1,195,163   308,910   37,855   2,192,281 

Income (loss) from operations

 $(1,043,088) $(887,537) $(99,146) $(37,855) $(2,067,626)

Other income (expense), net

 $433,464  $67,644  $286,142  $  $787,250 

Net income (loss)

 $(609,624) $(819,893) $186,996  $(37,855) $(1,280,376)

 

  

Corporate

  

Drones

  

Sensors

  

SaaS

  

Total

 

Six Months Ended June 30, 2026

                    

Revenues

 $  $1,715,919  $2,371,258  $  $4,087,177 

Cost of sales

     844,556   1,297,741      2,142,297 

Compensation and related expenses

  519,101   3,108,709   1,039,574      4,667,384 

Professional fees

  1,331,037   206,846   172,716      1,710,599 

Other operating expenses

  1,287,614   2,178,911   2,804,074      6,270,599 

Income (loss) from operations

 $(3,137,752) $(4,623,103) $(2,942,847) $  $(10,703,702)

Other income (expense), net

 $(3,118,887) $(143,778) $  $  $(3,262,665)

Net income (loss)

 $(6,256,639) $(4,766,881) $(2,942,847) $  $(13,966,367)
                     

Six Months Ended June 30, 2025

                    

Revenues

 $  $4,970,907  $2,876,063  $  $7,846,970 

Cost of sales

     1,941,864   1,431,411      3,373,275 

Compensation and related expenses

  518,847   2,151,088   734,821      3,404,756 

Professional fees

  256,838   288,163   138,071      683,072 

Other operating expenses

  1,198,356   1,643,605   550,746   63,332   3,456,039 

Income (loss) from operations

 $(1,974,041) $(1,053,813) $21,014  $(63,332) $(3,070,172)

Other income (expense), net

 $8,319,080  $58,450  $472,305  $  $8,849,835 

Net income (loss)

 $6,345,039   (995,363) $493,319  $(63,332) $5,779,663 

 

 

Revenues by Geographic Area

 

  

Drones

  

Sensors

  

SaaS

  

Total

 

Three Months Ended June 30, 2026

                

North America

 $285,732  $560,920  $  $846,652 

Latin America

  46,623   31,293      77,916 

Europe, Middle East and Africa

  703,010   644,757      1,347,767 

Asia Pacific

  39,028   373,010      412,038 

Other

     1,598      1,598 
  $1,074,393  $1,611,578  $  $2,685,971 

 

  

Drones

  

Sensors

  

SaaS

  

Total

 

Three Months Ended June 30, 2025

                

North America

 $130,464  $446,187  $  $576,651 

Latin America

  339,155   23,910      363,065 

Europe, Middle East and Africa

  2,239,426   681,644      2,921,070 

Asia Pacific

  28,453   260,884      289,337 

Other

     47,438      47,438 
  $2,737,498  $1,460,063  $  $4,197,561 

 

  

Drones

  

Sensors

  

SaaS

  

Total

 

Six Months Ended June 30, 2026

                

North America

 $524,064  $836,435  $  $1,360,499 

Latin America

  81,749   117,127      198,876 

Europe, Middle East and Africa

  941,049   933,779      1,874,828 

Asia Pacific

  169,057   482,319      651,376 

Other

     1,598      1,598 
  $1,715,919  $2,371,258  $  $4,087,177 

 

  

Drones

  

Sensors

  

SaaS

  

Total

 

Six Months Ended June 30, 2025

                

North America

 $511,404  $865,278  $  $1,376,682 

Latin America

  669,845   67,844      737,689 

Europe, Middle East and Africa

  3,723,973   1,431,834      5,155,807 

Asia Pacific

  65,685   410,876      476,561 

Other

     100,231      100,231 
  $4,970,907  $2,876,063  $  $7,846,970