Segment Reporting

3 Months Ended

Sep. 30, 2025

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	)

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

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