Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting

v3.24.1.1.u2
Segment Reporting
 9 Months Ended
Apr. 30, 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 April 30, 2024

 

    Products     Corporate
& Other		     Consolidated  
Revenues   $ 8,022     $
—
     $ 8,022  
                         
Operating costs and expenses:                        
Cost of revenues     4,289      
—
       4,289  
Research and development     595       10       605  
Selling, general and administrative     2,881       1,598       4,479  
Legal and related expenses    
—
       692       692  
Total operating costs and expenses     7,765       2,300       10,065  
                         
Operating income (loss)     257       (2,300 )     (2,043 )
                         
Other income (expense)                        
Interest     37       689       726  
Change in fair value of convertible debentures    
—
       (384 )     (384 )
Other     (31 )     125       94  
Foreign exchange loss     (524 )    
—
       (524 )
Loss before taxes   $ (261 )   $ (1,870 )   $ (2,131 )
                         
Depreciation and amortization included above   $ 162     $ 175     $ 337  
                         
Share-based compensation included above:                        
Selling, general and administrative     32       167       199  
Cost of sales     8      
—
       8  
Total   $ 40     $ 167     $ 207  
                         
Capital expenditures   $ 123     $ 20     $ 143  

 

Three months ended April 30, 2023

 

    Products     Corporate
& Other		     Consolidated  
Revenues   $ 7,485     $
—
     $ 7,485  
                         
Operating costs and expenses:                        
Cost of revenues     4,476      
—
       4,476  
Research and development     872       12       884  
Selling, general and administrative     3,069       3,143       6,212  
Legal and related expenses     19       4,246       4,265  
Total operating costs and expenses     8,436       7,401       15,837  
                         
Operating loss     (951 )     (7,401 )     (8,352 )
                         
Other income (expense)                        
Interest     30       (66 )     (36 )
Other     2       142       144  
Foreign exchange gain     347      
—
       347  
Loss before taxes   $ (572 )   $ (7,325 )   $ (7,897 )
                         
Depreciation and amortization included above   $ 182     $ 93     $ 275  
                         
Share-based compensation included above:                        
Selling, general and administrative     20       462       482  
Cost of sales     6      
—
       6  
Total   $ 26     $ 462     $ 488  
                         
Capital expenditures   $ 331     $ 282     $ 613  

 

Nine months ended April 30, 2024

 

    Products     Corporate
& Other		     Consolidated  
Revenues   $ 24,381     $
—
     $ 24,381  
                         
Operating costs and expenses:                        
Cost of revenues     12,969      
—
       12,969  
Research and development     2,012       23       2,035  
Selling, general and administrative     9,266       7,284       16,550  
Legal and related expenses     51       2,476       2,527  
Total operating costs and expenses     24,298       9,783       34,081  
                         
Operating income (loss)     83       (9,783 )     (9,700 )
                         
Other income (expense)                        
Interest     104       2,491       2,595  
Change in fair value of convertible debentures    
—
       (1,095 )     (1,095 )
Other     (28 )     401       373  
Foreign exchange loss     (842 )    
—
       (842 )
Loss before taxes   $ (683 )   $ (7,986 )   $ (8,669 )
                         
Depreciation and amortization included above   $ 500     $ 374     $ 874  
                         
Share-based compensation included above:                        
Selling, general and administrative     97       1,421       1,518  
Cost of sales     25      
—
       25  
Total   $ 122     $ 1,421     $ 1,543  
                         
Capital expenditures   $ 369     $ 53     $ 422  

  

Nine months ended April 30, 2023

 

    Products     Corporate
& Other		     Consolidated  
Revenues   $ 22,102     $
—
     $ 22,102  
                         
Operating costs and expenses:                        
Cost of revenues     13,681      
—
       13,681  
Research and development     2,675       33       2,708  
Selling, general and administrative     8,989       8,089       17,078  
Legal and related expenses     55       6,105       6,160  
Total operating costs and expenses     25,400       14,227       39,627  
                         
Operating loss     (3,298 )     (14,227 )     (17,525 )
                         
Other income (expense)                        
Interest     84       15       99  
Other     6       256       262  
Foreign exchange gain     1,022      
—
       1,022  
Income (loss) before taxes   $ (2,186 )   $ (13,956 )   $ (16,142 )
                         
Depreciation and amortization included above   $ 518     $ 267     $ 785  
                         
Share-based compensation included above:                        
Selling, general and administrative     60       1,211       1,271  
Cost of sales     17      
—
       17  
Total   $ 77     $ 1,211     $ 1,288  
                         
Capital expenditures   $ 1,268     $ 506     $ 1,774