| 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, Fabrication Services, which consists of engineering review
services and backend packaging services, and RF Filters, which consists of filter product sales.
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, 2024 and 2023
are as follows (in thousands):
| |
|
Fabrication
Services |
|
|
RF Filters |
|
|
Total |
|
| Three months ended March 31, 2024 |
|
|
|
|
|
|
|
|
|
| Revenue |
|
$ |
2,749 |
|
|
$ |
4,761 |
|
|
$ |
7,510 |
|
| Cost of revenue |
|
|
2,068 |
|
|
|
5,093 |
|
|
|
7,161 |
|
| Gross margin |
|
|
681 |
|
|
|
(332 |
) |
|
|
349 |
|
| Research and development |
|
|
— |
|
|
|
5,971 |
|
|
|
5,971 |
|
| General and administrative |
|
|
1,212 |
|
|
|
7,723 |
|
|
|
8,935 |
|
| Other operating expenses |
|
|
— |
|
|
|
8,051 |
|
|
|
8,051 |
|
| Income (Loss) from Operations |
|
$ |
(531 |
) |
|
$ |
(22,077 |
) |
|
$ |
(22,608 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| 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 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Nine months ended March 31, 2024 |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
|
$ |
8,709 |
|
|
$ |
12,820 |
|
|
$ |
21,529 |
|
| Cost of revenue |
|
|
5,868 |
|
|
|
15,715 |
|
|
|
21,583 |
|
| Gross margin |
|
|
2,841 |
|
|
|
(2,895 |
) |
|
|
(54 |
) |
| Research and development |
|
|
— |
|
|
|
22,729 |
|
|
|
22,729 |
|
| General and administrative |
|
|
3,413 |
|
|
|
25,040 |
|
|
|
28,453 |
|
| Other operating expenses |
|
|
— |
|
|
|
8,051 |
|
|
|
8,051 |
|
| Income (Loss) from Operations |
|
$ |
(572 |
) |
|
$ |
(58,715 |
) |
|
$ |
(59,287 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| 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 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| As of March 31, 2024 |
|
|
|
|
|
|
|
|
|
|
|
|
| Accounts receivable |
|
$ |
1,213 |
|
|
$ |
3,235 |
|
|
$ |
4,448 |
|
| Property and equipment, net |
|
|
2,112 |
|
|
|
51,086 |
|
|
|
53,198 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| As of June 30, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
| Accounts receivable |
|
$ |
1,124 |
|
|
$ |
3,629 |
|
|
$ |
4,753 |
|
| Property and equipment, net |
|
|
2,394 |
|
|
|
55,432 |
|
|
|
57,826 |
|
|