v3.26.1
Business Segmentation and Geographical Distribution
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Business Segmentation and Geographical Distribution

(9) Business Segmentation and Geographical Distribution

 

The Company operates as a single business segment, in which the factors used to make this determination include differences in products, services, geographical areas, regulatory environment, and other such criteria considered for the appropriateness of aggregation. The types of products and services for which the sole reportable segment, which is the same as the Company as a whole, offered by the Company are discussed in Note 2. Since the Company operates as a single segment, there were no intra-entity sales or transfers.

 

The role of Chief Operating Decision Maker for the Company is Chief Executive Officer. The Chief Operating Decision Maker assesses performance for the single segment and decides how to allocate resources based on net income and gross profit that also is reported on the statement of operations as net income. The measure of segment assets is reported on the balance sheet as total assets. The accounting policies of the sole segment are the same as those described in the summary of significant accounting policies in Note 2 of the 2025 Form 10-K.

 

The Chief Operating Decision Maker uses gross profit and net income to evaluate Company performance and in what way to allocate resources. Significant segment expenses, which are the same as the entity as a whole, are as follows:

 

         
  For the three months ended June 30, For the six months ended June 30,
  2026 2025 2026 2025
Total revenue $  15,332 $   20,359 $  28,290 $   34,984
         
Employee costs 3,723 3,961 7,832 7,327
Contractors and professional services 2,471 3,787 5,011 7,205
Materials and supplies 5,196 6,897 9,403 11,742
Depreciation 323 225 636 451
Interest expense 279 282 543 458
Other (income) — (1,428) — (1,428)
Tax expense 36 418 56 447
Facilities 938 990 1,906 1,933
Shipping 335 265 561 522
Testing 14 79 39 269
IT services 384 347 739 681
Insurance 226 213 452 414
Manufacturing other expense 220 277 562 167
Selling, general and administrative expense 1,345 813 1,670 1,219
Total Expense 15,490 17,126 29,410 31,407
         
Net Income (loss) $  (158) $   3,233 $  (1,120) $   3,577

 

Revenue from international sources approximated $477 and $2,519 for the three months ended June 30, 2026 and 2025, respectively, and $1,391 and $3,512 for the six months ended June 30, 2026 and 2025, respectively. As part of our revenue from international sources, we recognized approximately $244 and $245 for the three months ended June 30, 2026 and 2025, respectively, and $857 and $593 for the six months ended June 30, 2026 and 2025, respectively, in product revenue from companies in Canada.

 

Our operations comprise a single business segment and all of our long-lived assets are located within the United States. We categorize our revenue stream into three main product categories, personal care ingredients, advanced materials and consumer products. The revenues for the three and six months ended June 30, 2026 and 2025 by category are as follows:

 

    Three months ended June 30,     Six months ended June 30,  
Product Category   2026     2025     2026     2025  
Consumer Products   $ 14,214     $ 17,544     $ 24,241     $ 30,426  
Personal Care Ingredients     1,077       2,687       3,803       4,061  
Advanced Materials     41       128       246       497  
Total Sales   $ 15,332     $ 20,359     $ 28,290     $ 34,984