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Segment Information | 6 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION We have a single segment manager over IoT Products & Services and a single manager over IoT Solutions. As a result we have two operating segments. These two operating segments also serve as our reportable segments: IoT Products & Services and IoT Solutions. Each operating segment is led by a single segment manager. IoT Products & Services derives revenue from the sale of products and services that help original equipment manufacturers ("OEMs"), enterprise and government customers create and deploy, secure IoT connectivity solutions. IoT Solutions derives revenue from the sale of software-based services that are enabled through the use of connected devices that utilize cellular communications. Our CEO is our Chief Operating Decision Maker ("CODM"). The measures the CODM uses to measure profitability within each of our reportable segments is segment gross profit. Summary operating results for each of our segments were (in thousands):
|  | Three months ended March 31, |  | Six months ended March 31,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Revenue |  |  |  |  |  |  |  |
IoT Products & Services |  | $ | 77,783 |  |  | $ | 83,390 |  |  | $ | 155,606 |  |  | $ | 165,413 |
IoT Solutions |  | 26,720 |  |  | 24,312 |  |  | 52,763 |  |  | 48,378 |
Total revenue |  | $ | 104,503 |  |  | $ | 107,702 |  |  | $ | 208,369 |  |  | $ | 213,791 |
Gross Profit |  |  |  |  |  |  |  |
IoT Products & Services |  | $ | 45,852 |  |  | $ | 45,061 |  |  | $ | 91,455 |  |  | $ | 88,920 |
IoT Solutions |  | 19,081 |  |  | 17,257 |  |  | 37,876 |  |  | 34,498 |
Total gross profit |  | $ | 64,933 |  |  | $ | 62,318 |  |  | $ | 129,331 |  |  | $ | 123,418 |
Total depreciation and amortization expense was (in thousands):
|  | Three months ended March 31, |  | Six months ended March 31,
|  | 2025 |  | 2024 |  | 2024 |  | 2023
IoT Products & Services |  | $ | 2,919 |  |  | $ | 3,107 |  |  | $ | 6,346 |  |  | $ | 6,205 |
IoT Solutions |  | 5,243 |  |  | 4,958 |  |  | 10,316 |  |  | 9,911 |
Total depreciation and amortization |  | $ | 8,162 |  |  | $ | 8,065 |  |  | $ | 16,662 |  |  | $ | 16,116 |
Total expended for property, plant and equipment was (in thousands):
|  | Six months ended March 31,
|  | 2025 |  | 2024
IoT Products & Services |  | $ | 597 |  |  | $ | 336 |
IoT Solutions* |  | 378 |  |  | 333 |
Total expended for property, plant and equipment |  | $ | 975 |  |  | $ | 669 |
* Excluded from these amounts are $5,131 and $4,046 of transfers of inventory to property plant and equipment for subscriber assets for the six months ended March 31, 2025 and 2023, respectively. 6. SEGMENT INFORMATION (CONTINUED) Total assets for each of our segments were (in thousands):
|  | March 31, 2025 |  | September 30, 2024
IoT Products & Services |  | $ | 357,153 |  |  | $ | 376,998 |
IoT Solutions |  | 397,575 |  |  | 410,567 |
Unallocated* |  | 26,296 |  |  | 27,510 |
Total assets |  | $ | 781,024 |  |  | $ | 815,075 |
*Unallocated consists of cash and cash equivalents.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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