Company: ZRCN
Filing Date: 2025-09-10
Form Type: 10-K
Source: 0001641172-25-027037
Chunk: 728

Company: ZRCN Inc.
Filing Date: 2025-09-10
Form: 10-K
Item: Item 7
Chunk 728
---
The
following management discussion and analysis of the financial position and results of operations (“MD&A”) should be read
in conjunction with the audited consolidated financial statements and related notes to the financial statements included elsewhere in
this Report. This discussion contains forward-looking statements that relate to future events or our future financial performance. These
statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance
or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied
by these forward-looking statements. These risks and other factors include, among others, those listed under “Forward-Looking Statements”
and “Risk Factors” and those included elsewhere in this report.

OVERVIEW

Zircon
is a Silicon Valley-based company operating in Northern California since 1977, leveraging its proprietary
sensor-based technology across a mix of global markets, including commercial and residential buildings, government infrastructure and
building information modeling. Zircon is focused on creating new, technical solutions for global applications in the areas of
home and workplace safety, project efficiency, and structural data analysis.

Zircon
benefits from a multi-generational customer base of professional contractors and do-it-yourselfers who rely on Zircon’s
innovative and easy-to-use products to get the job done.

RESULTS
OF OPERATIONS

The
Company’s selected financial information for fiscal 2025 and fiscal 2024 is as follows. All the data are presented in United States
dollars.

Financial
Position Analysis

The
information presented as of March 31, 2025 represents the information for ZRCN Inc. The information presented as of March 31, 2024 represents
the information of Zircon Corporation.

    In thousands 
    March
    31, 2025  
    March
    31, 2024 
  
    Assets 
    $23,378  
    $27,615 
  
    Liabilities 
    $17,848  
    $19,347 
  
    Equity 
    $5,530  
    $8,268 

Assets

Total
assets as of March 31, 2025, were $23.4 million compared to $27.6 million as of March 31, 2024, which was a decrease of approximately
$4.2 million. This decrease was driven primarily by an increase in cash of $0.9 million, an increase in deferred