| Segment reporting |
Note 18 - Segment reporting
The Company has one reportable segment, Products, which focuses on
labeling and detection technologies from DNA to whole cell analysis, including a comprehensive portfolio of thousands of high-quality
products, including antibodies, genomic probes, assays, biochemicals, and proteins. The Company’s proprietary products and technologies
play central roles in translational research and drug development areas, including cell biology, genomics, assays, immunohistochemistry,
and small molecule chemistry. 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.
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:
Year ended July 31, 2024
| |
|
Products |
|
|
Corporate
& Other |
|
|
Consolidated |
|
| Revenues – Services and Products |
|
$ |
31,907 |
|
|
$ |
— |
|
|
$ |
31,907 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Operating costs and expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of revenues |
|
|
17,275 |
|
|
|
— |
|
|
|
17,275 |
|
| Research and development |
|
|
2,615 |
|
|
|
27 |
|
|
|
2,642 |
|
| Selling, general and administrative |
|
|
12,571 |
|
|
|
9,152 |
|
|
|
21,723 |
|
| Legal and related expenses |
|
|
51 |
|
|
|
2,581 |
|
|
|
2,632 |
|
| Total operating costs and expenses |
|
|
32,512 |
|
|
|
11,760 |
|
|
|
44,272 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Operating loss |
|
|
(605 |
) |
|
|
(11,760 |
) |
|
|
(12,365 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Other income (expense) |
|
|
|
|
|
|
|
|
|
|
|
|
| Interest |
|
|
141 |
|
|
|
3,200 |
|
|
|
3,341 |
|
| Other, net |
|
|
(26 |
) |
|
|
520 |
|
|
|
494 |
|
| Fair value adjustment |
|
|
— |
|
|
|
(1,095 |
) |
|
|
(1,095 |
) |
| Foreign exchange loss |
|
|
(192 |
) |
|
|
— |
|
|
|
(192 |
) |
| Loss before taxes |
|
$ |
(682 |
) |
|
$ |
(9,135 |
) |
|
$ |
(9,817 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Depreciation and amortization included above |
|
$ |
714 |
|
|
$ |
551 |
|
|
$ |
1,265 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Share-based compensation included above: |
|
|
|
|
|
|
|
|
|
|
|
|
| Selling, general and administrative |
|
|
129 |
|
|
|
1,533 |
|
|
|
1,662 |
|
| Cost of sales |
|
|
34 |
|
|
|
— |
|
|
|
34 |
|
| Total |
|
$ |
163 |
|
|
$ |
1,533 |
|
|
$ |
1,696 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Capital expenditures |
|
$ |
417 |
|
|
$ |
128 |
|
|
$ |
545 |
|
Year ended July 31, 2023
| |
|
Products |
|
|
Corporate
& Other |
|
|
Consolidated |
|
| Revenues – Products |
|
$ |
31,061 |
|
|
$ |
— |
|
|
$ |
31,061 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Operating costs and expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of revenues |
|
|
17,866 |
|
|
|
— |
|
|
|
17,866 |
|
| Costs of revenues – inventory provision |
|
|
1,629 |
|
|
|
— |
|
|
|
1,629 |
|
| Research and development |
|
|
3,864 |
|
|
|
40 |
|
|
|
3,904 |
|
| Selling, general and administrative |
|
|
12,302 |
|
|
|
14,900 |
|
|
|
27,202 |
|
| Legal and related expenses |
|
|
73 |
|
|
|
5,123 |
|
|
|
5,196 |
|
| Total operating costs and expenses |
|
|
35,734 |
|
|
|
20,063 |
|
|
|
55,797 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Operating loss |
|
|
(4,673 |
) |
|
|
(20,063 |
) |
|
|
(24,736 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Other income (expense) |
|
|
|
|
|
|
|
|
|
|
|
|
| Interest |
|
|
118 |
|
|
|
(1,240 |
) |
|
|
(1,122 |
) |
| Change in fair value of convertible debentures |
|
|
— |
|
|
|
(824 |
) |
|
|
(824 |
) |
| Other |
|
|
7 |
|
|
|
373 |
|
|
|
380 |
|
| Foreign exchange gain |
|
|
1,280 |
|
|
|
— |
|
|
|
1,280 |
|
| Loss before taxes |
|
$ |
(3,268 |
) |
|
$ |
(21,754 |
) |
|
$ |
(25,022 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Depreciation and amortization included above |
|
$ |
687 |
|
|
$ |
365 |
|
|
$ |
1,052 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Share-based compensation included above: |
|
|
|
|
|
|
|
|
|
|
|
|
| Selling, general and administrative |
|
|
81 |
|
|
|
1,669 |
|
|
|
1,750 |
|
| Cost of sales |
|
|
22 |
|
|
|
— |
|
|
|
22 |
|
| Total |
|
$ |
103 |
|
|
$ |
1,669 |
|
|
$ |
1,772 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Capital expenditures |
|
$ |
1,694 |
|
|
$ |
650 |
|
|
$ |
2,344 |
|
|