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Segment Information
9 Months Ended
Jun. 30, 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. 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 CODM uses segment gross profit to measure profitability within each of our reportable segments.
Summary operating results for each of our segments were (in thousands):
Three months ended June 30,Nine months ended June 30,
2025202420252024
Revenue
IoT Products & Services$80,032 $80,003 $235,638 $245,416 
IoT Solutions27,482 25,200 80,245 73,578 
Total revenue$107,514 $105,203 $315,883 $318,994 
Gross Profit
IoT Products & Services$48,477 $43,501 $139,932 $132,421 
IoT Solutions19,791 18,757 57,667 53,255 
Total gross profit$68,268 $62,258 $197,599 $185,676 
Total depreciation and amortization expense was (in thousands):
Three months ended June 30,Nine months ended June 30,
2025202420242023
IoT Products & Services$2,916 $3,111 $9,262 $9,316 
IoT Solutions5,385 5,187 15,701 15,098 
Total depreciation and amortization expense$8,301 $8,298 $24,963 $24,414 
Total expended for property, plant and equipment was (in thousands):
Nine months ended June 30,
20252024
IoT Products & Services$1,295 $581 
IoT Solutions*539 475 
Total expended for property, plant and equipment$1,834 $1,056 
* Excluded from these amounts are $6,859 and $8,354 of transfers of inventory to property plant and equipment for subscriber assets for the nine months ended June 30, 2025 and 2024, respectively.
6. SEGMENT INFORMATION (CONTINUED)
Total assets for each of our segments were (in thousands):
June 30,
2025
September 30,
2024
IoT Products & Services$356,276 $376,998 
IoT Solutions393,961 410,567 
Unallocated*20,104 27,510 
Total assets$770,341 $815,075 
*Unallocated consists of cash and cash equivalents.