Company: GDSTR
Filing Date: 2025-07-18
Form Type: S-4/A
Source: 0001213900-25-065671
Chunk: 246

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-07-18
Form: S-4/A
Chunk 246
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1,603,909 |     |       60.2 |
| Component parts  |     |                         198,342 |     |   100,687 |     |    97,655 |     |       97.0 |
| Warranty         |     |                         587,091 |     |    36,760 |     |   550,331 |     |    1,497.1 |
| Total            |     |                       5,055,110 |     | 2,803,215 |     | 2,251,895 |     |       80.3 |

Revenues for the year ended December 31, 2024 increased by 80.3% to approximately $5.1 million as compared to approximately $2.8 million for the year ended December 31, 2023. Revenues increased mainly due to following reasons: Power cell Units Power cell revenue for the year ended December 31, 2024 increased by 60.2% to approximately $4.3 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.

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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