Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting

v3.23.3
Segment Reporting
 3 Months Ended
Oct. 31, 2023
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 October 31, 2023

 

    Products     Corporate
& Other		     Consolidated  
Revenues   $ 7,806      
—
     $ 7,806  
                         
Operating costs and expenses:                        
Cost of revenues     4,351      
—
       4,351  
Research and development     838     $ 11       849  
Selling, general and administrative     3,104       3,903       7,007  
Legal and related expenses     30       1,045       1,075  
Total operating costs and expenses     8,323       4,959       13,282  
                         
Operating loss     (517 )     (4,959 )     (5,476 )
                         
Other income (expense)                        
Interest     34       943       977  
Change in fair value of convertible debentures    
—
       (328 )     (328 )
Other     2       156       158  
Foreign exchange loss     (1,006 )    
—
       (1,006 )
Loss before taxes   $ (1,487 )   $ (4,188 )   $ (5,675 )
                         
Depreciation and amortization included above   $ 166     $ 104     $ 270  
                         
Share-based compensation included above:                        
Selling, general and administrative     22       1,047       1,069  
Cost of sales     6      
—
       6  
Total   $ 28     $ 1,047     $ 1,075  
                         
Capital expenditures   $ 248     $ 6     $ 254  

  

Three months ended October 31, 2022

 

    Products     Corporate
& Other		     Consolidated  
Revenues   $ 7,103      
—
     $ 7,103  
                         
Operating costs and expenses:                        
Cost of revenues     4,589      
—
       4,589  
Research and development     690     $ 9       699  
Selling, general and administrative     2,885       2,552       5,437  
Legal and related expenses     25       982       1,007  
Total operating costs and expenses     8,189       3,543       11,732  
                         
Operating loss     (1,086 )     (3,543 )     (4,629 )
                         
Other income (expense)                        
Interest     25       47       72  
Other     2       (2 )     —  
Foreign exchange loss     (797 )    
—
       (797 )
Loss before taxes   $ (1,856 )   $ (3,498 )   $ (5,354 )
                         
Depreciation and amortization included above   $ 165     $ 83     $ 248  
                         
Share-based compensation included above:                        
Selling, general and administrative     20       340       360  
Cost of sales     6      
—
       6  
Total   $ 26     $ 340     $ 366  
                         
Capital expenditures   $ 306     $ 183     $ 489