Property and Equipment |
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| Property, Plant, and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property and Equipment | Note 3 - Property and Equipment
Property and equipment consisted of the following:
Assets Acquired in Business Combinations
During fiscal years 2026 and 2025, the Company completed several acquisitions in connection with its expansion into robotics and hospitality operations. See Note 9.
Fiscal Year Ended June 30, 2026
On August 27, 2025, and September 30, 2025, the Company acquired Victorville and Rancho Mirage, respectively, obtaining land, buildings and improvements, and furniture and equipment with an aggregate fair value of approximately $24,800,000 as of the respective acquisition dates.
Fiscal Year Ended June 30, 2025
On March 31, 2025, the Company acquired SWC and Skytech, obtaining property and equipment with an aggregate fair value of approximately $59,000 as of the acquisition date.
NIGHTFOOD HOLDINGS, INC. AND SUBSIDIARIES DBA TECHFORCE ROBOTICS NOTES TO CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2026 AND 2025
The Company measured all acquired property and equipment at fair value as of each acquisition date. Fair values were determined using a combination of market comparable and replacement cost approaches, depending on asset type. Any difference between the fair value of the assets acquired and their historical carrying amounts was recognized as part of the purchase price allocation, and the excess of purchase consideration over the fair value of net identifiable assets was recorded as goodwill.
Depreciation expense for the years ended June 30, 2026 and 2025 was as follows. See Note 10 for amortization expense related to finite-lived intangible assets, which is also included in the “Depreciation and amortization” line on the consolidated statements of operations. Operating lease cost is recognized as a single lease cost on a straight-line basis within general and administrative expenses and is not included in depreciation and amortization (Note 15).
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