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Segment Information and Geographic Data | 9 Months Ended
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Feb. 28, 2025
Segment Information and Geographic Data | 4. SEGMENT INFORMATION AND GEOGRAPHIC DATA The Company has two reportable segments: Food Safety and Animal Safety. The Food Safety segment is primarily engaged in the development, production and marketing of diagnostic test kits and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens and levels of general sanitation. The Animal Safety segment is primarily engaged in the development, production and marketing of products dedicated to animal safety, including a complete line of consumable products marketed to veterinarians and animal health product distributors. This segment also provides genomic identification and related interpretive bioinformatic services. Additionally, the Animal Safety segment produces and markets biosecurity products to assist in the control of rodents, insects and disease in and around agricultural, food production and other facilities. Many of our international operations originally focused on the Company’s food safety products, and each of these units reports through the Food Safety segment. In recent years, these operations have expanded to offer the Company’s complete line of products and services, including those usually associated with the Animal Safety segment such as biosecurity products, veterinary instruments and genomics services. These additional products and services are managed and directed by existing management and are reported through the Food Safety segment. Segment information follows:
|  | Food Safety |  |  | Animal Safety |  |  | Corporate and Eliminations (1) |  |  | Total |
As of and during the three months ended February 28, 2025 |  |  |  |  |  |  |  |  |  |  |  |
Product revenues to external customers |  | $ | 145,248 |  |  | $ | 51,240 |  |  | $ | — |  |  | $ | 196,488 |
Service revenues to external customers |  |  | 7,483 |  |  |  | 17,009 |  |  |  | — |  |  |  | 24,492 |
Total revenues to external customers |  | $ | 152,731 |  |  | $ | 68,249 |  |  | $ | — |  |  | $ | 220,980 |
Operating income (loss) |  | $ | 19,315 |  |  | $ | 6,750 |  |  | $ | (20,650 | ) |  | $ | 5,415 |
Total assets |  | $ | 3,566,450 |  |  | $ | 342,181 |  |  | $ | 127,705 |  |  | $ | 4,036,336 |
As of and during the three months ended February 29, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Product revenues to external customers |  | $ | 149,709 |  |  | $ | 52,469 |  |  | $ | — |  |  | $ | 202,178 |
Service revenues to external customers |  |  | 8,045 |  |  |  | 18,589 |  |  |  | — |  |  |  | 26,634 |
Total revenues to external customers |  | $ | 157,754 |  |  | $ | 71,058 |  |  | $ | — |  |  | $ | 228,812 |
Operating income (loss) |  | $ | 15,915 |  |  | $ | 14,781 |  |  | $ | (18,673 | ) |  | $ | 12,023 |
Total assets |  | $ | 4,071,831 |  |  | $ | 344,205 |  |  | $ | 166,456 |  |  | $ | 4,582,492 |
(1) Includes corporate assets, including cash and cash equivalents, current and deferred tax accounts and overhead expenses not allocated to specific business segments, and excludes intersegment transactions.
|  | Food Safety |  |  | Animal Safety |  |  | Corporate and Eliminations (1) |  |  | Total |
During the nine months ended February 28, 2025 |  |  |  |  |  |  |  |  |  |  |  |
Product revenues to external customers |  | $ | 452,974 |  |  | $ | 143,581 |  |  | $ | — |  |  | $ | 596,555 |
Service revenues to external customers |  |  | 23,340 |  |  |  | 49,307 |  |  |  | — |  |  |  | 72,647 |
Total revenues to external customers |  | $ | 476,314 |  |  | $ | 192,888 |  |  | $ | — |  |  | $ | 669,202 |
Operating (loss) income |  | $ | (399,578 | ) |  | $ | 8,977 |  |  | $ | (59,211 | ) |  | $ | (449,812 | )
During the nine months ended February 29, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Product revenues to external customers |  | $ | 464,973 |  |  | $ | 145,475 |  |  | $ | — |  |  | $ | 610,448 |
Service revenues to external customers |  |  | 23,462 |  |  |  | 53,518 |  |  |  | — |  |  |  | 76,980 |
Total revenues to external customers |  | $ | 488,435 |  |  | $ | 198,993 |  |  | $ | — |  |  | $ | 687,428 |
Operating income (loss) |  | $ | 62,485 |  |  | $ | 30,876 |  |  | $ | (47,738 | ) |  | $ | 45,623 |
(1) Excludes intersegment transactions. The following table presents the Company’s revenue disaggregated by geographic location:
|  | Three months ended February 28/29, |  |  | Nine months ended February 28/29, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Domestic |  | $ | 115,365 |  |  | $ | 124,226 |  |  | $ | 333,509 |  |  | $ | 348,848 |
International |  |  | 105,615 |  |  |  | 104,586 |  |  |  | 335,693 |  |  |  | 338,580 |
Total revenue |  | $ | 220,980 |  |  | $ | 228,812 |  |  | $ | 669,202 |  |  | $ | 687,428 |

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