| Segment reporting |
Note 18 - 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.
Legal settlements, net, represent activities for which royalties would
have been received in the Company’s Products 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:
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 |
|
Year ended July 31, 2022
| |
|
Products |
|
|
Corporate
& Other |
|
|
Consolidated |
|
| Revenues – Services and Products |
|
$ |
32,643 |
|
|
|
— |
|
|
$ |
32,643 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Operating costs and expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of revenues |
|
|
19,213 |
|
|
|
— |
|
|
|
19,213 |
|
| Research and development |
|
|
2,383 |
|
|
|
55 |
|
|
|
2,438 |
|
| Selling, general and administrative |
|
|
12,516 |
|
|
$ |
10,568 |
|
|
|
23,084 |
|
| Legal and related expenses |
|
|
186 |
|
|
|
5,249 |
|
|
|
5,435 |
|
| Legal settlements |
|
|
(500 |
) |
|
|
— |
|
|
|
(500 |
) |
| Total operating costs and expenses |
|
|
33,798 |
|
|
|
15,872 |
|
|
|
49,670 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Operating loss |
|
|
(1,155 |
) |
|
|
(15,872 |
) |
|
|
(17,027 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Other income (expense) |
|
|
|
|
|
|
|
|
|
|
|
|
| Interest |
|
|
45 |
|
|
|
133 |
|
|
|
178 |
|
| Other |
|
|
4 |
|
|
|
(1,272 |
) |
|
|
(1,268 |
) |
| Foreign exchange loss |
|
|
(2,222 |
) |
|
|
— |
|
|
|
(2,222 |
) |
| Loss before taxes |
|
$ |
(3,328 |
) |
|
$ |
(17,011 |
) |
|
$ |
(20,339 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Depreciation and amortization included above |
|
$ |
813 |
|
|
$ |
303 |
|
|
$ |
1,116 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Share-based compensation included above: |
|
|
|
|
|
|
|
|
|
|
|
|
| Selling, general and administrative |
|
|
22 |
|
|
|
1,270 |
|
|
|
1,292 |
|
| Cost of sales |
|
|
6 |
|
|
|
— |
|
|
|
6 |
|
| Total |
|
$ |
28 |
|
|
$ |
1,270 |
|
|
$ |
1,298 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Capital expenditures |
|
$ |
1,915 |
|
|
$ |
628 |
|
|
$ |
2,543 |
|
|