What changed in this filing

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Item 1A. Risk Factors

2025-05-15 compared with 2025-02-13 · 36 added, 5 removed, 7 unchanged (85% of the section changed)

Risk Factors.

For information regarding factors that could affect

our results of operations, financial condition and liquidity, refer to the section entitled “Risk Factors” in Part I, Item

1A in our annual report on Form 10-K for the year ended June 30, 2024.

There have been no material changes from the risk factors previously

disclosed in our annual report on Form 10-K for the year ended June 30, 2024, as filed with the Securities and Exchange Commission.

For information regarding additional risk factors

that could affect our results of operations, financial condition and liquidity, other than set forth below, refer to the section entitled

“Risk Factors” in Part I, Item 1A in our annual report on Form 10-K for the year ended June 30, 2024.

Changes in U.S.

Tariff Policy and Related

Trade Actions Could Adversely Affect Our International Supply Chain, Costs, and Competitive Position

Our business is subject to risks associated with

changes in U.S.

tariff policy and related trade actions, which could materially and adversely affect our operations, financial condition,

and results of operations.

We rely on a global supply chain for the procurement of specialized optical components and assemblies, many

of which are sourced from overseas suppliers.

The imposition of new tariffs, increases in existing tariffs, or other trade restrictions

by the United States government on goods imported from certain countries—including, but not limited to, China and other key trading

partners—could increase our cost of goods sold and disrupt the availability of critical components necessary for our products.

In response to evolving U.S.

trade policy, affected

countries may implement retaliatory tariffs or other trade barriers on U.S.

goods, which could further impact our ability to source materials

at competitive prices or to sell our products in certain international markets.

These developments may also result in increased volatility

in global markets, supply chain disruptions, and reduced demand for our products due to higher prices or decreased competitiveness relative

to foreign and domestic competitors not subject to similar tariffs.

While we seek to mitigate the impact of tariffs

through supply chain diversification and price negotiations, such measures may not be successful or may result in increased costs, delays,

or operational inefficiencies.

Sustained or additional tariffs could require us to raise prices, which may reduce customer demand and

adversely affect our revenues and market share.

Furthermore, uncertainty regarding future U.S.

trade policy and the potential for further

changes in tariffs or trade agreements may make it more difficult for us to plan and conduct our business effectively.

Any significant increase in tariffs, expansion

of trade restrictions, or prolonged uncertainty regarding U.S.

trade policy could materially adversely affect our ability to source components,

manage costs, and compete effectively in our markets, which could have a material adverse effect on our business, financial condition,

and results of operations.

Unregistered Sales of Equity Securities

5 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1A. Risk Factors