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Segment Information
6 Months Ended
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,
2025202420252024
Revenue
IoT Products & Services$77,783 $83,390 $155,606 $165,413 
IoT Solutions26,720 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 Solutions19,081 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,
2025202420242023
IoT Products & Services$2,919 $3,107 $6,346 $6,205 
IoT Solutions5,243 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,
20252024
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 Solutions397,575 410,567 
Unallocated*26,296 27,510 
Total assets$781,024 $815,075 
*Unallocated consists of cash and cash equivalents.