v3.26.1
Note 9 - Income Taxes (Tables)
12 Months Ended
Jun. 30, 2026
Notes Tables  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
  

Year Ended June 30,

 
  

2026

  

2025

 

Current:

        

Current federal

 $1,908,000  $2,478,000 

Current state

  725,000   579,000 

Total current

  2,633,000   3,057,000 

Deferred:

        

Deferred federal

  449,000   (311,000)

Deferred state

  (23,000)  1,000 

Total deferred

  426,000   (310,000)

Total income tax expense

 $3,059,000  $2,747,000 
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
  

Year Ended June 30,

 
  

2026

  

2025

 
  Amount  Percentage  Amount  Percentage 

Tax expense at statutory federal rate

 $3,015,000   21.0% $2,160,000   21.0%

Domestic federal

                

Tax credits

                

Research and development credit

  (134,000)  (0.9)%  —   — 

Nontaxable and nondeductible items

                

Meals and entertainment

  225,000   1.6%  207,000   2.0%

Stock-based compensation

  (641,000)  (4.5)%  (1,016,000)  (9.9)%

Non-deductible officer's compensation

  56,000   0.4%  897,000   8.7%

Other non-deductible expenses

  3,000   0.0%  —   — 

Other adjustments

                

Other reconciling items

  (20,000)  (0.2)%  40,000   0.4%

State taxes, net of federal benefit

  555,000   3.9%  459,000   4.5%

Total income tax expense

 $3,059,000   21.3% $2,747,000   26.7%
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]
  

Year Ended June 30,

 
  

2026

  

2025

 

The components of income before income taxes

        

Domestic

 $14,360,000  $10,284,000 

Foreign

  —   — 

Total

 $14,360,000  $10,284,000 
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
  

As of June 30,

 
  

2026

  

2025

 

Deferred tax assets:

        

Revenue recognition and accounts receivable reserves

 $1,362,000  $1,247,000 

Inventory reserve

  91,000   68,000 

Warranty reserve

  474,000   405,000 

Accrued compensation

  30,000   21,000 

UNICAP

  48,000   35,000 

Stock based compensation

  1,179,000   901,000 

Lease liability

  34,000   49,000 

MN R&D tax credits

  232,000   205,000 

Amortization

  —   16,000 

Capitalized research and development

  38,000   428,000 

Subtotal

  3,488,000   3,375,000 

Less: Valuation allowance

  (232,000)  (205,000)

Net deferred tax assets

  3,256,000   3,170,000 

Deferred tax liabilities:

        

Property and equipment

  (716,000)  (556,000)

Prepaid insurance

  (90,000)  — 

Right of use asset

  (33,000)  (49,000)

Allowance for returned inventory

  (117,000)  (97,000)

Amortization

  (264,000)  — 

Other deferred tax liabilities

  —   (6,000)

Deferred tax liabilities

  (1,220,000)  (708,000)

Total net deferred tax assets

 $2,036,000  $2,462,000 
Schedule of Income Taxes Paid [Table Text Block]
  

Year Ended June 30,

 
  

2026

  

2025

 

Jurisdiction

        

U.S. Federal

 $2,571,000  $2,995,000 

State

  822,000   747,000 

Foreign

  —   — 

Total cash paid for income taxes (net of refunds)

 $3,393,000  $3,742,000