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

Segment Information (Tables)

v3.26.1
Segment Information (Tables)
12 Months Ended
Dec. 31, 2025
Segment Information [Abstract]  
Schedule of Segment Information

Year ended December 31, 2025

Corporate and

SUNation NY

HEC

Other

Total

Sales

$

49,600,311

$

22,305,216

$

—

$

71,905,527

Cost of sales

29,433,948

14,927,366

—

44,361,314

Gross profit

20,166,363

7,377,850

—

27,544,213

Operating expenses:

Selling, general and administrative expenses

16,237,256

4,766,477

5,976,017

26,979,750

Amortization expense

812,500

1,425,000

—

2,237,500

Total operating expenses

17,049,756

6,191,477

5,976,017

29,217,250

Operating (loss) income

3,116,607

1,186,373

(5,976,017)

(1,673,037)

Other income (expenses):

Investment and other income

29,335

13,044

64,246

106,625

Fair value remeasurement of warrant liability

—

—

(7,531,044)

(7,531,044)

Fair value remeasurement of contingent forward contract

899,080

899,080

Fair value remeasurement of contingent value rights

—

—

36,079

36,079

Financing fees

(1,294,090)

(1,294,090)

Interest expense

(58,908)

—

(982,927)

(1,041,835)

Loss on debt extinguishment

—

—

(343,471)

(343,471)

Other expense, net

(29,573)

13,044

(9,152,127)

(9,168,656)

Operating loss from continuing operations before income taxes

$

3,087,034

$

1,199,417

$

(15,128,144)

$

(10,841,693)

Depreciation and amortization

$

995,472

$

1,507,643

$

—

$

2,503,115

Capital expenditures

$

—

$

48,594

$

—

$

48,594

Assets

$

27,437,628

$

18,199,530

$

2,606,962

$

48,244,120

Year ended December 31, 2024

Corporate and

SUNation NY

HEC

Other

Total

Sales

$

39,733,362

$

17,128,391

$

—

$

56,861,753

Cost of sales

24,639,695

11,795,814

—

36,435,509

Gross profit

15,093,667

5,332,577

—

20,426,244

Operating expenses:

Selling, general and administrative expenses

15,265,443

4,530,879

7,257,844

27,054,166

Amortization expense

812,500

2,025,000

—

2,837,500

Fair value remeasurement of SUNation earnout consideration

—

—

(1,000,000)

(1,000,000)

Goodwill impairment loss

—

3,101,981

—

3,101,981

Intangible asset impairment loss

—

750,000

—

750,000

Total operating expenses

16,077,943

10,407,860

6,257,844

32,743,647

Operating (loss) income

(984,276)

(5,075,283)

(6,257,844)

(12,317,403)

Other income (expenses):

Investment and other income

25,920

17,742

100,867

144,529

(Loss) gain on sale of assets

—

6,118

(6,940)

(822)

Fair value remeasurement of warrant liability

—

—

(974,823)

(974,823)

Fair value remeasurement of embedded derivative liability

—

—

(65,617)

(65,617)

Fair value remeasurement of contingent value rights

—

—

522,257

522,257

Interest expense

(74,507)

—

(3,012,943)

(3,087,450)

Loss on debt extinguishment

—

—

(35,657)

(35,657)

Other expense, net

(48,587)

23,860

(3,472,856)

(3,497,583)

Operating loss from continuing operations before income taxes

$

(1,032,863)

$

(5,051,423)

$

(9,730,700)

$

(15,814,986)

Depreciation and amortization

$

1,031,418

$

2,120,364

$

2,050

$

3,153,832

Capital expenditures

$

24,155

$

8,630

$

—

$

32,785

Assets

$

26,127,816

$

18,150,306

$

1,434,610

$

45,712,732