As of June 30, 2026, the Company had cash and cash equivalents of $49.5 million and an accumulated deficit of $333.5 million. The Company incurred negative cash flows from operating activities of $24.2 million for the fiscal year ended June 30, 2026 (“fiscal 2026”), and $28.9 million for the fiscal year ended June 30, 2025 (“fiscal 2025”). The Company has incurred losses since its inception. There is no assurance that the Company will be able to generate sufficient profits, obtain such financings, or obtain them on favorable terms, which could limit its operations.

The Company’s primary sources of capital to date have been from revenue from sales of its products, its registered direct offerings, ATM sales agreement with Virtu Americas, LLC, and proceeds from awarded government contracts.

Management believes that the Company’s cash and cash equivalents as of June 30, 2026, and anticipated revenue from sales of our products, are sufficient to fund the Company’s operations for at least the next 12 months from the issuance date of these consolidated financial statements.