The
following discussion and analysis should be read in conjunction with the consolidated financial statements and notes to the consolidated
financial statements filed as part of this report and the audited consolidated financial statements and notes thereto included in our
Annual Report on Form 10-K for the year ended June 30, 2025.
The
following discussion and analysis contain forward-looking statements within the meaning of the federal securities laws. You are urged
to carefully review our description and examples of forward-looking statements included earlier in this Quarterly Report immediately
prior to Part I, under the heading “Special Note Regarding Forward-Looking Statements.” Forward-looking statements are subject
to risk that could cause actual results to differ materially from those expressed in the forward-looking statements. You are urged to
carefully review the disclosures we make concerning risks and other factors that may affect our business and operating results, including
those made in this Quarterly Report and our Annual Report on Form 10-K for the year ended June 30, 2025, as well as any of those made
in our other reports filed with the SEC. You are cautioned not to place undue reliance on the forward-looking statements included herein,
which speak only as of the date of this document. We do not intend, and undertake no obligation, to publish revised forward-looking statements
to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events.
Critical
Accounting Policies and Estimates
Our
significant accounting policies, which are described in the notes to our consolidated financial statements included in this report and
in our Annual Report on Form 10-K for the year ended June 30, 2025, have not changed during the three and nine months ended March 31,
2026. We believe that our accounting policies and estimates relating to revenue recognition, accrued expenses, purchase commitment liabilities,
warrants and stock-based compensation are the most critical.
Our