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BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION

11. BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION

 

The Chief Executive Officer of the company (the “CEO”), as the Chief Operating Decision Maker (“CODM”), organizes the Company, manages resource allocations, and measures performance of the Company’s single operating segment, Critical Power Solutions. The Critical Power Solutions reportable segment is the Company’s Titan business unit. The Critical Power Solutions segment provides mobile high-capacity charging equipment, power generation equipment and aftermarket field-services in order to help customers secure fast vehicle charging where fixed charging infrastructure does not exist, and additionally to ensure smooth, uninterrupted power to operations during times of emergency.

 

The CODM assesses the Company’s performance and decides how to allocate resources based on consolidated net income (loss) in the unaudited condensed consolidated statements of operations, which is assessed to be the segment measure of profit or loss. This measure is used to monitor actual results to evaluate the performance of the segment versus the forecasted targets. The segment assets are equal to the assets presented in the unaudited condensed consolidated balance sheets.

 

The significant expenses that are regularly provided to the CODM, which include costs of goods sold, selling, general and administrative expenses and research and development expenses, are disclosed in the unaudited condensed consolidated statements of operations as a part of the consolidated net income (loss). The other segment item that is regularly provided to the CODM includes other income (expense) which is disclosed as a separate line item in the unaudited condensed consolidated statements of operations. Other income and (expenses) consist of interest income and interest (expense), which are disclosed as separate line items in the unaudited condensed consolidated statements of operations.

 

On October 29, 2024, the Company sold its Electrical Infrastructure segment to the Buyer. Prior to the sale of the Electrical Infrastructure segment, the Company’s CODM assessed performance and allocated resources amongst its two reportable segments. See Note 8 - Discontinued Operations for additional information.

 

Revenues are attributable to countries based on the location of the Company’s customers:

 

   For the Three Months Ended   For the Nine Months Ended 
   September 30,   September 30, 
   2025   2024   2025   2024 
Revenues                    
United States  $6,875   $3,557   $21,756   $10,267 
Canada   13    2,859    242    2,859 
Total  $6,888   $6,416   $21,998   $13,126 

 

Approximately 19% and 17% of the Company’s revenues during the three months ended September 30, 2025, were made to two customers. Approximately 45% and 10% of the Company’s revenues during the three months ended September 30, 2024, were made to two customers.

 

Approximately 30% of the Company’s revenues during the nine months ended September 30, 2025, were made to one customer. Approximately 22%, 10% and 10% of the Company’s revenues during the nine months ended September 30, 2024, were made to three customers.

 

The distribution of the Company’s property and equipment by geographic location is approximately as follows:

 

   September 30,   December 31, 
   2025   2024 
Property and equipment          
United States  $5,663   $6,503