ADDED
As of November 11, 2025, there were 41.7 million shares of the registrant s common stock outstanding.
Statements concerning legislative, tariff, and trade wars and trade policy reforms, responsive retaliatory actions by affected countries, government investigations, and the uncertainty resulting therefrom; geopolitical tensions; supply chain and logistics challenges; cost increases and expense management; changes in U.S.
Our products are sold in three geographic regions: the Americas, EMEA, and APAC.
Industrial In our Industrial segment, we design, develop, manufacture, sell, and service X-ray imaging products for use in a number of applications, including security applications for cargo screening at ports and borders, baggage screening at airports, and nondestructive testing, irradiation, and inspection applications used in a number of other verticals.
We also manufacture and sell our own X-ray imaging systems for industrial applications.
Our Industrial products include Linatron X-ray linear accelerators, non-intrusive cargo inspection systems, X-ray tubes, flat panel and photon counting detectors, computed radiography scanners, high voltage connectors, and coolers.
Our top five customers, measured by revenue, are Canon Medical Systems Corporation ("Canon"), United Imaging Healthcare, General Electric Company, Siemens Healthineers AG ("Siemens"), and Rapiscan Systems, Inc., which collectively accounted for approximately 40% of total revenue in fiscal year 2025.
Our largest customer, Canon, accounted for approximately 18%, 18%, and 17% of our total revenue for fiscal years 2025, 2024, and 2023, respectively, while our ten largest customers as a group accounted for approximately 52%, 53%, and 51% of our revenue for fiscal years 2025, 2024, and 2023, respectively.
Our amorphous silicon based digital detector technology, our photon counting technology, and our complementary metal-oxide-semiconductor technology compete with other detector technologies, such as amorphous selenium, charge-coupled devices, and variations of amorphous silicon scintillators.
Industrial In the low-energy sector of our Industrial segment, we compete with other OEM suppliers, such as iRay, Teledyne, and Comet AG, as well as those described above for Medical digital detectors.
REMOVED
As of November 14, 2024, there were 41.1 million shares of the registrant s common stock outstanding.
Statements concerning supply chain and logistics challenges; cost increases and expense management; changes in U.S.
In China, the government has continued its efforts to broaden the availability of healthcare services.
Dental radiology equipment increased nine-fold, and mammography and CT scanners showed a nearly five-fold increase.
In March 2024, China introduced a new stimulus program that includes the healthcare industry.
We believe the stimulus program has led to customers delaying purchasing decisions in the short-term as they wait to understand the details of the program before making significant purchasing decisions, but are optimistic that it will result in increased opportunities for our business in the longer-term.
As described in more detail under the heading Competition and Trade Compliance Laws of this Item 1, our business in China has been, is currently being, and may in the future be, impacted by trade wars between the United States and China.
elections, there is significant concern that trade relations between the United States and China could worsen in the future, which could materially negatively impact our business moving forward.
Our Industrial products include Linatron X-ray linear accelerators, X-ray tubes, flat panel and photon counting detectors, computed radiography scanners, high voltage connectors, and coolers.
Our top five customers, measured by revenue, are Canon Medical Systems Corporation ( Canon ), United Imaging Healthcare, General Electric Company, Rapiscan Systems, Inc., and Siemens Healthineers AG, which collectively accounted for approximately 41% of total revenue in fiscal year 2024.