SEGMENT INFORMATION
We operate in a single operating segment: the formulation, development, marketing and sale of fertility control products for use in managing pest populations. This single operating segment has been identified based on our internal management structure and reporting to our Chief Operating Decision Maker (“CODM”), our Chief Executive Officer.
Our CODM evaluates segment performance based on the revenues, gross profit and operating loss of the segment and uses internal financial statements to make decisions regarding resource allocation. Revenues, gross profit and operating loss used by the CODM are presented on our accompanying statement of operations. The measure of segment assets is represented as total assets presented on our accompanying balance sheets. There are no intersegment revenues, as all transactions are conducted within the one operating segment.
We have not identified any reportable segments other than the single operating segment discussed.
Significant Customers
The customers that represented 10% or more of revenue in at least one of the periods presented, was as follows:
| | | | | | | | | | | |
| Years Ended December 31, |
| 2025 | | 2024 |
| Customer D | 24 | % | | 13 | % |
| | | |
| | | |
The following accounts represented at least 10% of total accounts receivable in at least one of the periods presented:
| | | | | | | | | | | |
| As of December 31, |
| 2025 | | 2024 |
| Customer A | 15 | % | | 2 | % |
| Customer B | 14 | % | | 5 | % |
| Customer C | 9 | % | | 20 | % |
| Customer D | 1 | % | | 30 | % |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.