| Segments |
NOTE 14—SEGMENTS
The tables below (in thousands) reflect the operating results of the Company’s segments for the reported periods, consistent with the management and measurement system utilized within the Company. The two segments include (1) the Company’s OneClick retail stores, and (2) its Cooltech Distribution business. Performance measurement of each segment is based on sales, gross profit and operating income (loss). The segments represent components of the Company for which separate financial information is available that is utilized on a regular basis by the Chief Operating Decision Maker (“CODM”) in determining how to allocate Company resources and evaluate performance. The CODM is a group of Company executives who comprise the management committee, consisting of the Company’s Chief Executive Officer, Chief Sales and Marketing Officer, Chief Operating Office and Chief Financial Officer.
|
|
OneClick
Retail Stores |
|
|
Cooltech
Distribution |
|
|
Total
Segments |
|
|
Year ended December 31, 2018: |
|
|
|
|
|
|
|
|
|
|
|
|
Net sales |
$ |
16,064 |
|
|
$ |
8,113 |
|
|
$ |
24,177 |
|
|
Gross profit |
$ |
4,464 |
|
|
$ |
585 |
|
|
$ |
5,049 |
|
|
Operating loss |
$ |
(13,405 |
) |
|
$ |
(1,353 |
) |
|
$ |
(14,758 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended December 31, 2017: |
|
|
|
|
|
|
|
|
|
|
|
|
Net sales |
$ |
2,860 |
|
|
$ |
10,755 |
|
|
$ |
13,615 |
|
|
Gross profit |
$ |
769 |
|
|
$ |
611 |
|
|
$ |
1,380 |
|
|
Operating loss |
$ |
(561 |
) |
|
$ |
(1,190 |
) |
|
$ |
(1,751 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of Operating Loss to Cool Holdings as Reported: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended |
|
|
|
|
|
|
|
December 31, |
|
|
|
|
|
|
|
2018 |
|
|
2017 |
|
|
|
|
|
|
Operating loss: |
|
|
|
|
|
|
|
|
|
|
|
|
Total reportable segments |
$ |
(14,758 |
) |
|
$ |
(1,751 |
) |
|
|
|
|
|
Unallocated corporate expenses |
|
(5,289 |
) |
|
|
(4,963 |
) |
|
|
|
|
|
Total consolidated operating loss |
$ |
(20,047 |
) |
|
$ |
(6,714 |
) |
|
|
|
|
Additional segment information for the years ended December 31, 2018 and 2017 is as follows (in thousands):
|
|
OneClick
Retail Stores |
|
|
Cooltech
Distribution |
|
|
Total
Segments |
|
|
Corporate |
|
|
Consolidated |
|
|
As of and for the year ended December 31, 2018: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
$ |
454 |
|
|
$ |
7 |
|
|
$ |
461 |
|
|
$ |
80 |
|
|
$ |
541 |
|
|
Goodwill and intangible impairments |
|
10,396 |
|
|
|
— |
|
|
|
10,396 |
|
|
|
— |
|
|
|
10,396 |
|
|
Capital expenditures |
|
620 |
|
|
|
— |
|
|
|
620 |
|
|
|
— |
|
|
|
620 |
|
|
Property and equipment, net |
|
896 |
|
|
|
8 |
|
|
|
904 |
|
|
|
105 |
|
|
|
1,009 |
|
|
Total assets |
|
7,647 |
|
|
|
3,696 |
|
|
|
11,343 |
|
|
|
2,348 |
|
|
|
13,691 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of and for the year ended December 31, 2017: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
11 |
|
|
|
6 |
|
|
$ |
17 |
|
|
|
58 |
|
|
$ |
75 |
|
|
Goodwill and intangible impairments |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Capital expenditures (recoveries) |
|
(151 |
) |
|
|
— |
|
|
|
(151 |
) |
|
|
— |
|
|
|
(151 |
) |
|
Property and equipment, net |
|
252 |
|
|
|
15 |
|
|
|
267 |
|
|
|
124 |
|
|
|
391 |
|
|
Total assets |
|
9,013 |
|
|
|
7,601 |
|
|
|
16,614 |
|
|
|
5,838 |
|
|
|
22,452 |
|
|