SEGMENTS AND CONCENTRATIONS

6 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

SEGMENTS AND CONCENTRATIONS

NOTE 5 SEGMENTS AND CONCENTRATIONS

As a result of the Retail Exit and the OEM Plan, the Company now has only one reportable segment. The prior year segment disclosures have been reformatted from what was previously disclosed to conform to the current year presentation and omit certain disclosures that are no longer required.

Revenues from two customers represented 36.4% and 36.3% of the Company’s consolidated net revenues for the three and six months ended March 31, 2025, respectively. Revenues from one customer represented 42.7% of the Company’s consolidated net revenues for the three months ended March 31, 2024 and revenues from two customers represented 50.2% of the Company’s consolidated net revenues for the six months ended March 31, 2024.

Accounts receivable from 3 customers represented 51.3% and 57.9% of the Company’s consolidated accounts receivable at March 31, 2025 and September 30, 2024, respectively.

In December 2024, our largest design customer notified us of its plan to discontinue their insulin patch pump program, on which we were working. The Company expects this to continue to cause a material decrease in design segment revenues in Fiscal 2025.