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Segment Reporting
 3 Months Ended
Sep. 30, 2025
Segment Reporting  
Segment Reporting

15. Segment Reporting

 

The Company has one reportable operating segment, the optics segment that is managed on a consolidated basis. The optics segment designs and manufactures products at locations in the U.S., Europe and Asia and manages the business activities on a consolidated basis. Our Chief Operating Decision Maker (“CODM”) is the chief executive officer. The CODM assesses performance for the optics segment and decides how to allocate resources based on consolidated net loss that also is reported on the consolidated statements of comprehensive income (loss) as consolidated net loss. The types of products and services from which the optics segment derives its revenues is described in Note 5, Revenue. The accounting policies of the optics segment are the same as those described in Note 2, Significant Accounting Policies, to these Condensed Consolidated Financial Statements. The measure of segment assets is reported on the consolidated balance sheet as total assets. See Note 5, Revenue, for detail about revenue by product and service group, and Note 14, Foreign Operations, for geographic information.

 

The CODM uses consolidated net loss to evaluate income generated from segment assets, and to determine whether to invest in new capabilities related to this segment. The CODM monitors budget to actual results for revenue, gross profit, operating expenses and net loss on a consolidated basis. The CODM reporting package includes non-operating items to reconcile to net income. The following table represents the financial information regularly reviewed by the CODM, in addition to the Consolidated Financial Statements. Interest expense is reported on consolidated statements of comprehensive income (loss) as interest expense, net; depreciation and amortization expense, stock-based compensation expense, and total expenditures for long-lived assets are reported on the consolidated statement of cash flows.

 

 

 

Optics Segment

 

 

 

Three Months Ended

September 30

 

 

 

2025

 

 

2024

 

Revenue

 

$15,058,281

 

 

$8,400,381

 

Cost of goods sold

 

 

10,575,709

 

 

 

5,555,952

 

Segment gross profit

 

 

4,482,572

 

 

 

2,844,429

 

 

 

 

 

 

 

 

 

 

Less:

 

 

 

 

 

 

 

 

Sales & marketing

 

 

822,209

 

 

 

646,024

 

General & administrative

 

 

2,326,007

 

 

 

1,318,170

 

Corporate

 

 

1,235,654

 

 

 

1,306,389

 

New product development

 

 

867,428

 

 

 

476,441

 

Loss on disposal of equipment

 

 

3,999

 

 

 

78,437

 

Amortization of intangible assets

 

 

450,524

 

 

 

395,776

 

Change in fair value of acquisition liabilities

 

 

1,282,529

 

 

 

—

 

Interest expense, net

 

 

268,853

 

 

 

149,360

 

Other income (expense), net

 

 

37,101

 

 

 

80,941

 

Provision for income taxes

 

 

81,270

 

 

 

15,636

 

Segment net loss

 

 

(2,893,002)

 

 

(1,622,745)

Reconciliation of profit or loss

 

 

 

 

 

 

 

 

Adjustments and reconciling items

 

 

—

 

 

 

—

 

Consolidated net loss

 

$(2,893,002)

 

$(1,622,745)