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Segment Information and Geographic Data
 9 Months Ended
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