Annual report [Section 13 and 15(d), not S-K Item 405]

SEGMENT INFORMATION

v3.25.1
SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE 10. SEGMENT INFORMATION

 

The Company operates and manages its business as one reportable and operating segment. The Company designs, manufactures, and sells DC power systems for applications that do not have access to the utility grid (i.e., prime power and mobile applications) or have critical power needs and cannot be without power in the event of utility grid failure (i.e., back-up power applications). The measure of segment assets is reported on the balance sheet as total assets. In addition, the Company generates revenue primarily from the sale of its DC power systems, and to a lesser extent from the sale of parts and services to support its DC power systems. The Company manages the business activities on a consolidated basis.

 

The Company’s CODM reviews financial information presented on a consolidated basis and decides how to allocate resources based on net income (loss).  Consolidated net income (loss) is used for evaluating financial performance and in establishing management’s compensation.

 

Significant segment expenses include research and development, salaries, insurance, and stock-based compensation.  Operating expenses include all remaining costs necessary to operate our business, which primarily include external professional services and other administrative expenses.  The following table presents the significant segment expenses and other segment items regularly reviewed by our CODM:

  

    2024     2023  
   

Years ended December 31,

  
    2024     2023  
Revenue   $ 13,970     $ 15,293  
Cost of goods sold     (12,656 )     (14,598 )
Compensation     (2,385 )     (3,200 )
Consulting and professional fees     (1,148 )     (973 )
Other cost and expenses, net     (2,156 )     (2,512 )
Other expenses, net     (302 )     (558 )
Net loss   $ (4,677 )   $ (6,548 )