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SEGMENTS AND CONCENTRATIONS
 9 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
SEGMENTS AND CONCENTRATIONS

 

NOTE 5 SEGMENTS AND CONCENTRATIONS

 

As a result of the Retail Exit and the OEM Plan, the Company now has only one reportable segment. The prior year segment disclosures have been reformatted from what was previously disclosed to conform to the current year presentation and omit certain disclosures that are no longer required.

 

Revenues from two customers represented 32.4% of the Company’s consolidated net revenues for the three months ended June 30, 2025. Revenues from three customers represented 42.5% of the Company’s consolidated net revenues for the nine months ended June 30, 2025. Revenues from two customer represented 49.7% and 50.1% of the Company’s consolidated net revenues for the three and nine months ended June 30, 2024, respectively.

 

Accounts receivable and contract assets from three customers represented 50.1% and 57.9% of the Company’s consolidated accounts receivable and contract asset balances at June 30, 2025 and September 30, 2024, respectively.

 

In December 2024, our largest design customer notified us of its plan to discontinue their insulin patch pump program, on which we were working. The Company expects this to continue to cause a material decrease in revenues relative to Fiscal 2024.