| Summary of the Company's Segment Net Sales, Gross Profit and Income Before Income Taxes |
Summarized below are the Company’s segment information for the years ended December 31, 2025, 2024 and 2023 based on the current reporting segment structure.
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Year ended December 31, 2025 |
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Equipment |
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Services |
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Consolidated |
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(in thousands) |
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Net Sales |
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$ |
751 |
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$ |
8,227 |
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$ |
8,978 |
|
Cost of Net Sales |
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(1,401 |
) |
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(6,526 |
) |
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(7,927 |
) |
Gross Profit (Loss) |
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(650 |
) |
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|
1,701 |
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|
1,051 |
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Research and Development |
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(4,644 |
) |
General and corporate |
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(2,735 |
) |
Loss before income taxes |
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$ |
(6,328 |
) |
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Year ended December 31, 2024 |
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Equipment |
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Services |
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Consolidated |
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(in thousands) |
|
Net Sales |
|
$ |
1,406 |
|
|
|
$ |
9,472 |
|
|
$ |
10,878 |
|
Cost of Net Sales |
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|
(1,223 |
) |
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(6,749 |
) |
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(7,972 |
) |
Gross Profit |
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|
183 |
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|
2,723 |
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|
2,906 |
|
Research and Development |
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|
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(5,085 |
) |
General and corporate |
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|
|
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(1,506 |
) |
Loss before income taxes |
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$ |
(3,685 |
) |
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Year ended December 31, 2023 |
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Equipment |
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Services |
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Consolidated |
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(in thousands) |
|
Net Sales |
|
$ |
4,594 |
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|
$ |
11,159 |
|
|
$ |
15,753 |
|
Cost of Net Sales |
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|
(3,666 |
) |
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|
|
(7,697 |
) |
|
|
(11,363 |
) |
Gross Profit |
|
|
928 |
|
|
|
|
3,462 |
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|
4,390 |
|
Research and Development |
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|
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|
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|
|
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(5,881 |
) |
General and corporate |
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(1,086 |
) |
Loss before income taxes |
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$ |
(2,577 |
) |
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| Schedule of Sales Data by Geographical Area |
Sales are attributed to a geographical area based upon the location of the customer. Sales data by geographical area are as follows:
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Years Ended December 31, |
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% of net |
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% of net |
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% of net |
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2025 |
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|
Sales |
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2024 |
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|
Sales |
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2023 |
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|
Sales |
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(in thousands, except percentages) |
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Net Sales by Region |
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China |
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$ |
2,053 |
|
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|
23 |
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% |
|
$ |
2,084 |
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|
19 |
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% |
|
$ |
2,577 |
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16 |
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% |
India |
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|
2,993 |
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|
33 |
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% |
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4,893 |
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|
45 |
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% |
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|
8,268 |
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|
53 |
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% |
Japan |
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|
3,932 |
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|
44 |
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% |
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|
3,901 |
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|
36 |
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% |
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|
4,908 |
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|
31 |
|
% |
Total |
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$ |
8,978 |
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|
|
100 |
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% |
|
$ |
10,878 |
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|
|
100 |
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% |
|
$ |
15,753 |
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|
100 |
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% |
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| Schedule of Long-lived Assets, Consisting of Property, Plant and Equipment, by Geographical Area |
Long-lived assets, consisting of property, plant and equipment, by geographical area are as follows:
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December 31, |
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2025 |
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|
2024 |
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(in thousands) |
|
China |
|
$ |
709 |
|
|
$ |
475 |
|
Other |
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— |
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|
1 |
|
Total long-lived assets |
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$ |
709 |
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$ |
476 |
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