| 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
XBAW® foundry services, Non-Recurring Engineering (“NRE”) and back-end supply chain 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 nine months ended March 31, 2023 and 2022 are as follows (in thousands):
| |
|
Foundry
Fabrication
Services |
|
|
RF Filters |
|
|
Total |
|
| Three months ended March 31, 2023 |
|
|
|
|
|
|
|
|
|
| Revenue |
|
$ |
3,397 |
|
|
$ |
3,959 |
|
|
$ |
7,356 |
|
| Cost of revenue |
|
|
2,009 |
|
|
|
6,463 |
|
|
|
8,472 |
|
| Gross margin |
|
|
1,388 |
|
|
|
(2,504 |
) |
|
|
(1,116 |
) |
| Research and development |
|
|
— |
|
|
|
7,349 |
|
|
|
7,349 |
|
| General and administrative |
|
|
2,018 |
|
|
|
6,799 |
|
|
|
8,817 |
|
| Income (Loss) from Operations |
|
$ |
(630 |
) |
|
|
(16,652 |
) |
|
|
(17,282 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Three months ended March 31, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
|
$ |
407 |
|
|
$ |
4,200 |
|
|
$ |
4,607 |
|
| Cost of revenue |
|
|
534 |
|
|
|
4,836 |
|
|
|
5,370 |
|
| Gross margin |
|
|
(127 |
) |
|
|
(636 |
) |
|
|
(763 |
) |
| Research and development |
|
|
— |
|
|
|
8,314 |
|
|
|
8,314 |
|
| General and administrative |
|
|
— |
|
|
|
5,721 |
|
|
|
5,721 |
|
| Income (Loss) from Operations |
|
$ |
(127 |
) |
|
|
(14,671 |
) |
|
|
(14,798 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Nine months ended March 31, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
|
$ |
6,248 |
|
|
$ |
12,540 |
|
|
$ |
18,788 |
|
| Cost of revenue |
|
|
4,027 |
|
|
|
16,173 |
|
|
|
20,200 |
|
| Gross margin |
|
|
2,221 |
|
|
|
(3,633 |
) |
|
|
(1,412 |
) |
| Research and development |
|
|
— |
|
|
|
25,079 |
|
|
|
25,079 |
|
| General and administrative |
|
|
2,018 |
|
|
|
19,632 |
|
|
|
21,650 |
|
| Income (Loss) from Operations |
|
$ |
203 |
|
|
|
(48,344 |
) |
|
|
(48,141 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Nine months ended March 31, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
|
$ |
1,203 |
|
|
$ |
8,943 |
|
|
$ |
10,146 |
|
| Cost of revenue |
|
|
1,481 |
|
|
|
11,340 |
|
|
|
12,821 |
|
| Gross margin |
|
|
(278 |
) |
|
|
(2,397 |
) |
|
|
(2,675 |
) |
| Research and development |
|
|
— |
|
|
|
25,481 |
|
|
|
25,481 |
|
| General and administrative |
|
|
— |
|
|
|
14,742 |
|
|
|
14,742 |
|
| Income (Loss) from Operations |
|
$ |
(278 |
) |
|
|
(42,620 |
) |
|
|
(42,898 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| As of March 31, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
| Accounts receivable |
|
$ |
1,064 |
|
|
$ |
3,183 |
|
|
$ |
4,247 |
|
| Property and equipment, net |
|
|
2,447 |
|
|
|
54,866 |
|
|
|
57,313 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| As of June 30, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
| Accounts receivable |
|
$ |
572 |
|
|
$ |
3,221 |
|
|
$ |
3,793 |
|
| Property and equipment, net |
|
|
— |
|
|
|
51,157 |
|
|
|
51,157 |
|
|