Quarterly report [Sections 13 or 15(d)]

SEGMENT INFORMATION

v3.25.4
SEGMENT INFORMATION
 6 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE 11 – 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 and airport GSE. 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 income (loss) and Adjusted EBITDA to assess performance and allocate financial, capital and personnel resources. Net income (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:

 

    2025     2024     2025     2024  
   

Three months ended December 31,

    

Six months ended December 31,

  
    2025     2024     2025     2024  
Revenues   $ 14,121,000     $ 16,830,000     $ 27,296,000     $ 32,955,000  
Less:                                
Cost of sales     9,226,000       11,367,000       18,636,000       22,274,000  
General and administrative     2,775,000       4,973,000       6,697,000       9,245,000  
Selling and marketing     538,000       762,000       1,271,000       1,353,000  
Research and development     536,000       957,000       1,573,000       2,272,000  
Depreciation     251,000       250,000       502,000       502,000  
Interest     194,000       408,000       578,000       865,000  
Net income (loss)   $ 601,000     $ (1,887,000 )   $ (1,961,000 )   $ (3,556,000 )

 

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.