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SEGMENT INFORMATION
 12 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE 14 – SEGMENT INFORMATION

 

The Company has one business activity and derives its revenue from the design, development, manufacturing and sale of a portfolio of advanced lithium-ion energy storage solutions for electrification of a range of industrial commercial sectors which include material handling, airport ground support equipment (“GSE”), and stationary energy storage. Accordingly, the Company operates as a single operating and reporting segment. The Company’s chief operating decision maker (the “CODM”) is its Chief Executive Officer. The CODM reviews financial information including operating results and assets on a consolidated basis.

 

When evaluating the Company’s financial performance and making strategic decisions, the CODM uses net loss and Adjusted EBITDA to assess performance and allocate financial, capital and personnel resources. Net loss and Adjusted EBITDA are used in the annual operating plan and forecasting process as well as ongoing decisions driven by the monthly or quarterly reviews of the plan versus actual results.

 

The table below is a summary of the segment profit or loss, including significant segment expenses, for the periods presented:

 

   2026   2025 
   Fiscal year ended June 30, 
   2026   2025 
Revenues  $42,132,000   $66,434,000 
Less:          
Cost of sales   29,415,000    44,694,000 
General and administrative   12,485,000    18,337,000 
Selling and marketing   2,913,000    2,965,000 
Research and development   2,814,000    4,464,000 
Depreciation   979,000    1,002,000 
Other expense, net   121,000    81,000 
Interest expense, net   853,000    1,565,000 
Net loss  $(7,448,000)  $(6,674,000)

 

Assets provided to the CODM are consistent with those reported on the consolidated balance sheets. All long-lived assets are held in the United States, and revenues and net losses are solely generated from operations in the United States.