| Segment Information |
Note 15. Segment Information
Operating segments are defined as components of
an enterprise about which separate financial information is available and evaluated regularly by the chief operating decision maker, or
decision–making group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision
maker is its Chief Executive Officer. The Company operates in two segments, Foundry Fabrication Services, which consists of engineering
review services and STC-MEMS foundry services, and RF Filters, which consists of amplifier and filter product sales, and grant revenue.
The Company records all general and administrative costs in the RF Filters segment.
The Company evaluates performance of its operating
segments based on revenue and operating profit (loss). Segment information for the three and six months ended December 31, 2022 and 2021
are as follows (in thousands):
| |
|
Foundry
Fabrication
Services |
|
|
RF Filters |
|
|
Total |
|
| Three months ended December 31, 2022 |
|
|
|
|
|
|
|
|
|
| Revenue |
|
$ |
1,891 |
|
|
$ |
3,974 |
|
|
$ |
5,865 |
|
| Cost of revenue |
|
|
1,126 |
|
|
|
4,148 |
|
|
|
5,274 |
|
| Gross margin |
|
|
765 |
|
|
|
(174 |
) |
|
|
591 |
|
| Research and development |
|
|
— |
|
|
|
7,645 |
|
|
|
7,645 |
|
| General and administrative |
|
|
— |
|
|
|
5,838 |
|
|
|
5,838 |
|
| Income (Loss) from Operations |
|
$ |
765 |
|
|
|
(13,657 |
) |
|
|
(12,892 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Three months ended December 31, 2021 |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
|
$ |
384 |
|
|
$ |
3,288 |
|
|
$ |
3,672 |
|
| Cost of revenue |
|
|
377 |
|
|
|
4,172 |
|
|
|
4,549 |
|
| Gross margin |
|
|
7 |
|
|
|
(884 |
) |
|
|
(877 |
) |
| Research and development |
|
|
— |
|
|
|
9,192 |
|
|
|
9,192 |
|
| General and administrative |
|
|
— |
|
|
|
5,146 |
|
|
|
5,146 |
|
| Income (Loss) from Operations |
|
$ |
7 |
|
|
|
(15,222 |
) |
|
|
(15,215 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Six months ended December 31, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
|
$ |
2,823 |
|
|
$ |
8,609 |
|
|
$ |
11,432 |
|
| Cost of revenue |
|
|
2,018 |
|
|
|
9,709 |
|
|
|
11,727 |
|
| Gross margin |
|
|
805 |
|
|
|
(1,100 |
) |
|
|
(295 |
) |
| Research and development |
|
|
— |
|
|
|
17,730 |
|
|
|
17,730 |
|
| General and administrative |
|
|
— |
|
|
|
12,833 |
|
|
|
12,833 |
|
| Income (Loss) from Operations |
|
$ |
805 |
|
|
|
(31,663 |
) |
|
|
(30,858 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Six months ended December 31, 2021 |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
|
$ |
796 |
|
|
$ |
4,744 |
|
|
$ |
5,540 |
|
| Cost of revenue |
|
|
947 |
|
|
|
6,504 |
|
|
|
7,451 |
|
| Gross margin |
|
|
(151 |
) |
|
|
(1,760 |
) |
|
|
(1,911 |
) |
| Research and development |
|
|
— |
|
|
|
17,166 |
|
|
|
17,166 |
|
| General and administrative |
|
|
— |
|
|
|
9.022 |
|
|
|
9,022 |
|
| Income (Loss) from Operations |
|
$ |
(151 |
) |
|
|
(27,948 |
) |
|
|
(28,099 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| As of December 31, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
| Accounts receivable |
|
$ |
89 |
|
|
$ |
3,072 |
|
|
$ |
3,171 |
|
| Property and equipment, net |
|
|
— |
|
|
|
54,469 |
|
|
|
54,469 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| As of June 30, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
| Accounts receivable |
|
$ |
572 |
|
|
$ |
3,221 |
|
|
$ |
3,793 |
|
| Property and equipment, net |
|
|
— |
|
|
|
51,157 |
|
|
|
51,157 |
|
|