Quarterly report [Sections 13 or 15(d)]

SEGMENT INFORMATION

v3.26.3
SEGMENT INFORMATION
 3 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE 13 – SEGMENT INFORMATION

 

The Company has one business activity and derives its revenue from the design, development, manufacturing and sale of a portfolio of advanced lithium-ion energy storage solutions for electrification of a range of industrial commercial sectors which include material handling, airport ground support equipment (“GSE”), and stationary energy storage. Accordingly, the Company operates as a single operating and reporting segment. The Company’s chief operating decision maker (the “CODM”) is its Chief Executive Officer. The CODM reviews financial information including operating results and assets on a consolidated basis.

 

When evaluating the Company’s financial performance and making strategic decisions, the CODM uses net loss and Adjusted EBITDA to assess performance and allocate financial, capital and personnel resources. Net loss and Adjusted EBITDA are used in the annual operating plan and forecasting process as well as ongoing decisions driven by the monthly or quarterly reviews of the plan versus actual results.

 

The table below is a summary of the segment profit or loss, including significant segment expenses, for the periods presented:

 

    2026     2025  
    Three months ended September 30,  
    2026     2025  
Revenues   $ 6,758,000     $ 13,175,000  
Less:                 
Cost of sales     5,085,000       9,410,000  
General and administrative     2,762,000       3,922,000  
Selling and marketing     1,019,000       733,000  
Research and development     631,000       1,037,000  
Depreciation     220,000       251,000  
Other expense, net     27,000       51,000  
Interest expense, net     184,000       333,000  
Net loss   $ (3,170,000 )   $ (2,562,000 )

 

Assets provided to the CODM are consistent with those reported on the consolidated balance sheets. All long-lived assets are held in the United States, and revenues and net losses are solely generated from operations in the United States.