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Segment Information and Geographic Data
 3 Months Ended
Aug. 31, 2025
Segment Information and Geographic Data

5. SEGMENT INFORMATION AND GEOGRAPHIC DATA

The Company has two reportable segments: Food Safety and Animal Safety. The results of each segment are regularly reviewed by the chief operating decision maker ("CODM") to assess the performance of the segments and make decisions regarding the allocation of resources to the segments. Our CODM is our Chief Executive Officer. The performance measure that the CODM uses is operating income. Refer to the consolidated statements of operations for the reconciliation of consolidated operating income (loss), which is the total of Company’s segment measure of profit or loss, to consolidated income before income taxes.

The following tables reflect segment and corporate information:

 

 

 

Three month ended August 31, 2025

 

 

 

Food Safety

 

 

Animal Safety

 

 

Corporate and
Eliminations (1)

 

 

Total

 

Total Revenues

 

$

158,456

 

 

$

58,861

 

 

$

—

 

 

$

217,317

 

Intersegment Revenue

 

 

(6,406

)

 

 

(1,722

)

 

 

—

 

 

 

(8,128

)

Net Revenue

 

 

152,050

 

 

 

57,139

 

 

 

—

 

 

 

209,189

 

Total Cost of Revenues

 

 

76,460

 

 

 

37,759

 

 

 

—

 

 

 

114,219

 

Operating Expenses

 

 

68,499

 

 

 

14,908

 

 

 

27,654

 

 

 

111,061

 

Operating Income (Loss)

 

$

7,091

 

 

$

4,472

 

 

$

(27,654

)

 

$

(16,091

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and Amortization

 

$

25,901

 

 

$

3,154

 

 

$

—

 

 

$

29,055

 

Interest Expense

 

$

—

 

 

$

—

 

 

$

16,442

 

 

$

16,442

 

Total Assets

 

$

2,947,343

 

 

$

291,929

 

 

$

138,884

 

 

$

3,378,156

 

Expenditures for long-lived assets

 

$

23,437

 

 

$

565

 

 

$

—

 

 

$

24,002

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three month ended August 31, 2024

 

 

 

Food Safety

 

 

Animal Safety

 

 

Corporate and
Eliminations (1)

 

 

Total

 

Total Revenues

 

$

163,575

 

 

$

60,018

 

 

$

—

 

 

$

223,593

 

Intersegment Revenue

 

 

(4,230

)

 

 

(2,399

)

 

 

—

 

 

 

(6,629

)

Net Revenue

 

 

159,345

 

 

 

57,619

 

 

 

—

 

 

 

216,964

 

Net Cost of Revenues

 

 

74,458

 

 

 

37,580

 

 

 

—

 

 

 

112,038

 

Operating Expenses

 

 

66,982

 

 

 

17,450

 

 

 

18,237

 

 

 

102,669

 

Operating Income (Loss)

 

$

17,905

 

 

$

2,589

 

 

$

(18,237

)

 

$

2,257

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and Amortization

 

$

26,202

 

 

$

3,598

 

 

$

—

 

 

$

29,800

 

Interest Expense

 

$

—

 

 

$

—

 

 

$

18,615

 

 

$

18,615

 

Total Assets

 

$

4,056,444

 

 

$

342,077

 

 

$

104,652

 

 

$

4,503,173

 

Expenditures for long-lived assets

 

$

36,045

 

 

$

2,388

 

 

$

—

 

 

$

38,433

 
(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.

The following table presents revenue disaggregated by geographic location:

 

 

Three months ended August 31,

 

 

 

2025

 

 

2024

 

Domestic

 

$

102,074

 

 

$

104,383

 

International

 

 

107,115

 

 

 

112,581

 

Total revenue

 

$

209,189

 

 

$

216,964