Company: GDSTR
Filing Date: 2025-04-24
Form Type: S-4/A
Source: 0001213900-25-034782
Chunk: 230

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-04-24
Form: S-4/A
Chunk 230
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3 million as compared to approximately $2.7 million for the year ended December 31, 2023. We had 157 and 92 units of power cell sold for the years ended December 31, 2024 and 2023, respectively. The increase in units sold was primarily driven by a new customer that we acquired in July 2024, which contributed to approximately $2.9 million of our power cell revenue. The average selling price per power cell unit for the years ended December 31, 2024 and 2023 were approximately $27,000 and $29,000, respectively. The decrease in average selling price per unit is mainly attributable to the sales incentive discounts that we had offered to this new customer, which reduced our average selling price per unit by approximately $2,000 per unit.

121

Component parts Component parts revenue for the year ended December 31, 2024 increased by 97.0% to approximately $0.2 million as compared to approximately $0.1 million for the year ended December 31, 2023. Component parts revenue is consistent with the increase in our power cell revenue in the form of service -relatedparts that coincide with the delivery of the power cell units. Warranty Warranty revenue for the year ended December 31, 2024 increased by 1,497.1% to approximately $0.6 million as compared to approximately $37,000 for the year ended December 31, 2023. The increase in warranty revenue was primarily attributable to our 5 -yearoptional extended service protection plan that we sold to our customers in connection with our power unit sold in the second half of 2023, which we are recognized these warranty revenues for a full year in 2024 as compared to the half a year in 2023. The increase also attributable a new customer that we acquired in April 2024 who also brought our 5 -yearoptional extended service protection plan, which contributed to approximately $0.1 million of our warranty revenue. Costs of Revenues

|                   |     | For the Year Ended December 31, 
                            2024 |     |      2023 |     |    Change |     | Percentage 
     Change |
|:------------------|:----|--------------------------------:|:----|----------:|:----|----------:|:----|-----------:|
|                   |     |                             US$ |     |       US$ |     |       US$ |     |          % |