Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting

v3.24.0.1
Segment Reporting
 6 Months Ended
Jan. 31, 2024
Segment Reporting [Abstract]  
Segment reporting

Note 12 - Segment reporting

 

The Company has one reportable segment, Products, which develops, manufactures, and markets products to research and pharmaceutical customers. The Company evaluates segment performance based on segment income (loss) before taxes. Costs excluded from segment income (loss) before taxes and reported as “Corporate & Other” consist of corporate general and administrative costs which are not allocable to the Products segment.

 

Legal and related expenses incurred to defend the Company’s intellectual property, which may result in settlements recognized in another segment and other general corporate matters are considered a component of the Corporate & Other segment. Legal and related expenses specific to the Products’ segment’s activities are allocated to that segment.

 

Management of the Company assesses assets on a consolidated basis only and therefore, assets by reportable segment have not been included in the reportable segments below. The accounting policies of the reportable segment are the same as those described in the summary of significant accounting policies.

 

The following financial information represents the operating results of the reportable segments of the Company:

 

Three months ended January 31, 2024

 

    Products     Corporate
& Other		     Consolidated  
Revenues   $ 8,553      
—
     $ 8,553  
                         
Operating costs and expenses:                        
Cost of revenues     4,329      
—
       4,329  
Research and development     578     $ 2       580  
Selling, general and administrative     3,284       1,784       5,068  
Legal and related expenses     22       739       761  
Total operating costs and expenses     8,213       2,525       10,738  
                         
Operating income (loss)     340       (2,525 )     (2,185 )
                         
Other income (expense)                        
Interest     34       859       893  
Change in fair value of convertible debentures    
—
       (383 )     (383 )
Other     2       117       119  
Foreign exchange gain     693      
—
       693  
Income (loss) before taxes   $ 1,069     $ (1,932 )   $ (863 )
                         
Depreciation and amortization included above   $ 172     $ 95     $ 267  
                         
Share-based compensation included above:                        
Selling, general and administrative     42       207       249  
Cost of sales     12      
—
       12  
Total   $ 54     $ 207     $ 261  
                         
Capital expenditures   $
—
     $ 27     $ 27  

 

Three months ended January 31, 2023

 

    Products     Corporate
& Other		     Consolidated  
Revenues   $ 7,514      
—
     $ 7,514  
                         
Operating costs and expenses:                        
Cost of revenues     4,616      
—
       4,616  
Research and development     1,113     $ 12       1,125  
Selling, general and administrative     3,036       2,394       5,430  
Legal and related expenses     11       877       888  
Total operating costs and expenses     8,776       3,283       12,059  
                         
Operating loss     (1,262 )     (3,283 )     (4,545 )
                         
Other income (expense)                        
Interest     29       34       63  
Other     2       116       118  
Foreign exchange gain     1,472      
—
       1,472  
Income (loss) before taxes   $ 241     $ (3,133 )   $ (2,892 )
                         
Depreciation and amortization included above   $ 171     $ 91     $ 262  
                         
Share-based compensation included above:                        
Selling, general and administrative     20       409       429  
Cost of sales     6      
—
       6  
Total   $ 26     $ 409     $ 435  
                         
Capital expenditures   $ 632     $ 41     $ 673  

 

Six months ended January 31, 2024

 

    Products     Corporate
& Other		     Consolidated  
Revenues   $ 16,359      
—
     $ 16,359  
                         
Operating costs and expenses:                        
Cost of revenues     8,680      
—
       8,680  
Research and development     1,416     $ 13       1,429  
Selling, general and administrative     6,383       5,687       12,070  
Legal and related expenses     51       1,784       1,835  
Total operating costs and expenses     16,530       7,484       24,014  
                         
Operating loss     (171 )     (7,484 )     (7,655 )
                         
Other income (expense)                        
Interest     68       1,802       1,870  
Change in fair value of convertible debentures    
—
       (711 )     (711 )
Other     3       273       276  
Foreign exchange loss     (318 )    
—
       (318 )
Loss before taxes   $ (418 )   $ (6,120 )   $ (6,538 )
                         
Depreciation and amortization included above   $ 338     $ 199     $ 537  
                         
Share-based compensation included above:                        
Selling, general and administrative     65       1,254       1,319  
Cost of sales     17      
—
       17  
Total   $ 82     $ 1,254     $ 1,336  
                         
Capital expenditures   $ 246     $ 33     $ 279  

 

Six months ended January 31, 2023

 

    Products     Corporate
& Other		     Consolidated  
Revenues   $ 14,617      
—
     $ 14,617  
                         
Operating costs and expenses:                        
Cost of revenues     9,205      
—
       9,205  
Research and development     1,803     $ 21       1,824  
Selling, general and administrative     5,920       4,946       10,866  
Legal and related expenses     36       1,859       1,895  
Total operating costs and expenses     16,964       6,826       23,790  
                         
Operating loss     (2,347 )     (6,826 )     (9,173 )
                         
Other income (expense)                        
Interest     54       81       135  
Other     4       114       118  
Foreign exchange gain     675      
—
       675  
Income (loss) before taxes   $ (1,614 )   $ (6,631 )   $ (8,245 )
                         
Depreciation and amortization included above   $ 336     $ 174     $ 510  
                         
Share-based compensation included above:                        
Selling, general and administrative     40       749       789  
Cost of sales     11      
—
       11  
Total   $ 51     $ 749     $ 800  
                         
Capital expenditures   $ 938     $ 224     $ 1,162