v3.26.3
Major Customer and Geographic Information
6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Major Customer And Geographic Information    
Major Customer and Geographic Information

Note 11. Major Customer and Geographic Information

 

The Company’s revenues, expressed as a percentage of total revenues, from non-affiliated customers that equaled 10% or more of the Company’s total revenues were:

                
  

Three Months ended

June 30,

  

Six Months ended

June 30,

 
   2026   2025   2026   2025 
Customer A   21%   58%   35%   54%
Customer B   —    24%   —    17%
Customer C   —    —    —    12%

 

The Company’s non-affiliate customers whose individual balances amounted to more than 10% of the Company’s net accounts receivable, expressed as a percentage of net accounts receivable, were:

         
   June 30,
2026
   December 31,
2025
 
Customer A   11%   0%
Customer B   56%   82%

 

The Company performs ongoing credit evaluations of its customers and generally does not require collateral. The Company also maintains allowances for potential credit losses. The loss of a major customer could have a material adverse effect on the Company’s business operations and financial condition.

 

The Company’s revenues by geographic region are as follows (in approximate amounts):

                 
  

Three Months ended

June 30,

  

Six Months ended

June 30,

 
   2026   2025   2026   2025 
North America  $676,000   $136,600   $759,000   $321,700 
South America   —    —    900    — 
Asia   262,600    210,200    546,600    482,400 
Australia   22,400    13,200    44,200    34,900 
   $961,000   $360,000   $1,350,700   $839,000 

 

11. Major Customer and Geographic Information 

The Company’s revenues, expressed as a percentage of total revenues, from non-affiliated customers that equaled 10% or more of the Company’s total revenues were:

        
   Year ended December 31 
   2025   2024 
Customer A   52%   70%
Customer B   23%   18%

 

The Company’s non-affiliate customers whose individual balances amounted to more than 10% of the Company’s net accounts receivable, expressed as a percentage of net accounts receivable, were:

        
   December 31 
   2025   2024 
Customer A   —%   15%
Customer B   82%   78%

The Company performs ongoing credit evaluations of its customers and generally does not require collateral. The Company also maintains allowances for potential credit losses. The loss of a major customer could have a material adverse effect on the Company’s business operations and financial condition. The Company’s revenues by geographic region are as follows:

        
   Year ended December 31 
   2025   2024 
North America   590,000    484,800 
South America   —    600 
Europe   —    — 
Asia   822,600    1,546,500 
Australia   81,200    85,900 
    1,493,800    2,117,800