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Note 14 - Segment Data | 12 Months Ended
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Mar. 31, 2025
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | Note 14. Segment Data Segment information is prepared on the same basis that our chief operating decision maker, our CEO, uses to manage our segments, evaluate financial results, and make key operating decisions. Our four reportable segments are organized primarily by the nature of the goods and services they sell. The CODM uses segment revenue, organic revenues growth (non-GAAP), and gross profit to allocate resources and to assess the performance of our segments. Monthly, the CODM reviews forecast-to-actual and prior-to-current period variances in segment revenue and in segment gross profit when making decisions to allocate capital and personnel to the segments. Our CODM also reviews operating income, adjusted to exclude non-cash items such as depreciation, amortization and stock based compensation, on a consolidated basis to further manage operations. The accounting policies of our operating segments are the same as those described in Note 1. "Description of Business and Summary of Significant Accounting Policies." The following tables set forth our segment information:
|  | Sterilization and Disinfection Control (d) |  |  | Clinical Genomics |  |  | Biopharmaceutical Development |  |  | Calibration Solutions |  |  | Corporate and Other (e) |  |  | Total Company |
Year Ended March 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues (a) |  | $ | 93,418 |  |  | $ | 47,081 |  |  | $ | 48,730 |  |  | $ | 51,749 |  |  | $ | - |  |  | $ | 240,978 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation in cost of revenues |  |  | 1,419 |  |  |  | 680 |  |  |  | 224 |  |  |  | 837 |  |  |  | - |  |  |  | 3,160 |
Amortization in cost of revenues |  |  | 503 |  |  |  | 765 |  |  |  | 1,373 |  |  |  | - |  |  |  | - |  |  |  | 2,641 |
Non-cash GKE inventory step-up amortization |  |  | 1,232 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,232 |
Other cost of revenues (b) |  |  | 25,604 |  |  |  | 19,966 |  |  |  | 17,220 |  |  |  | 20,275 |  |  |  | 10 |  |  |  | 83,075 |
Total segment cost of revenues |  |  | 28,758 |  |  |  | 21,411 |  |  |  | 18,817 |  |  |  | 21,112 |  |  |  | 10 |  |  |  | 90,108 |
Gross Profit (c) |  | $ | 64,660 |  |  | $ | 25,670 |  |  | $ | 29,913 |  |  | $ | 30,637 |  |  | $ | (10 | ) |  | $ | 150,870 |
Reconciling items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 134,534 |
Operating income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 16,336 |
Nonoperating expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 10,375 |
Earnings before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 5,961 |
Year Ended March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues (a) |  | $ | 75,124 |  |  | $ | 52,588 |  |  | $ | 40,712 |  |  | $ | 47,763 |  |  | $ | - |  |  | $ | 216,187 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation in cost of revenues |  |  | 1,204 |  |  |  | 937 |  |  |  | 224 |  |  |  | 666 |  |  |  | - |  |  |  | 3,031 |
Amortization in cost of revenues |  |  | 266 |  |  |  | 4,448 |  |  |  | 1,338 |  |  |  | - |  |  |  | - |  |  |  | 6,052 |
Non-cash GKE inventory step-up amortization |  |  | 1,229 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,229 |
Other cost of revenues (b) |  |  | 19,123 |  |  |  | 20,125 |  |  |  | 13,750 |  |  |  | 19,550 |  |  |  | 77 |  |  |  | 72,625 |
Total segment cost of revenues |  |  | 21,822 |  |  |  | 25,510 |  |  |  | 15,312 |  |  |  | 20,216 |  |  |  | 77 |  |  |  | 82,937 |
Gross Profit (c) |  | $ | 53,302 |  |  | $ | 27,078 |  |  | $ | 25,400 |  |  | $ | 27,547 |  |  | $ | (77 | ) |  | $ | 133,250 |
Reconciling items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 405,325 |
Operating (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (272,075 | )
Nonoperating expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,573 |
(Loss) before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (275,648 | )
Year Ended March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues (a) |  | $ | 64,609 |  |  | $ | 62,299 |  |  | $ | 47,365 |  |  | $ | 44,807 |  |  | $ | - |  |  | $ | 219,080 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation in cost of revenues |  |  | 818 |  |  |  | 1,130 |  |  |  | 314 |  |  |  | 901 |  |  |  | - |  |  |  | 3,163 |
Amortization in cost of revenues |  |  | - |  |  |  | 5,675 |  |  |  | 1,121 |  |  |  | - |  |  |  | - |  |  |  | 6,796 |
Other cost of revenues (b) |  |  | 17,271 |  |  |  | 23,009 |  |  |  | 15,590 |  |  |  | 19,518 |  |  |  | 40 |  |  |  | 75,428 |
Total segment cost of revenues |  |  | 18,089 |  |  |  | 29,814 |  |  |  | 17,025 |  |  |  | 20,419 |  |  |  | 40 |  |  |  | 85,387 |
Gross Profit (c) |  | $ | 46,520 |  |  | $ | 32,485 |  |  | $ | 30,340 |  |  | $ | 24,388 |  |  | $ | (40 | ) |  | $ | 133,693 |
Reconciling items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 130,373 |
Operating income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,320 |
Nonoperating expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,709 |
(Loss) before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (389 | )
| (a) | Intersegment revenues are not significant and are eliminated to arrive at consolidated totals. Revenues as presented are consistent with GAAP measurement principles and our CODM's review of segment information.
| (b) | Other segment cost of revenues for each reportable segment includes product costs, personnel costs (including stock based compensation), and other manufacturing and overhead costs necessary to produce and sell our products and services, excluding depreciation, amortization, and non-cash inventory step-up amortization expenses.
| (c) | Gross profit as presented is consistent with GAAP measurement principles and our CODM's review of segment information.
| (d) | Includes GKE results beginning upon acquisition in fiscal year 2024.
| (e) | Unallocated corporate expenses and other business activities are reported within Corporate and Other. Certain depreciation expense classified reflected in Corporate and Other in fiscal years 2024 and 2023 has been recast to conform to current year presentation.
Changes in the Sterilization and Disinfection Control division are primarily attributable to the GKE acquisition consummated in the third quarter of fiscal year 2024. The following table sets forth net inventories by reportable segment. Our chief operating decision maker is not provided with any other segment asset information. In addition to sales of our products, inventories decreased in fiscal year 2025 primarily due to adjustments to realizable value and amortization of non-cash inventory step-up from the GKE acquisition.
|  | March 31, |  |  | March 31, |
|  | 2025 |  |  | 2024 |
Sterilization and Disinfection Control |  | $ | 5,545 |  |  | $ | 7,014 |
Clinical Genomics |  |  | 9,776 |  |  |  | 11,813 |
Biopharmaceutical Development |  |  | 4,934 |  |  |  | 6,304 |
Calibration Solutions |  |  | 5,110 |  |  |  | 7,544 |
Total inventories |  | $ | 25,365 |  |  | $ | 32,675 |
The following table sets forth a summary of long-lived assets by geographic area. Long-lived assets exclude goodwill and intangible assets acquired in a business combination, deferred tax assets and other non-tangible assets. The increase in long-lived assets in Sweden is primarily due to right of use assets associated with a ten-year operating lease that commenced in fiscal year 2025 related to a facility used by our Biopharmaceutical Development division for manufacturing and administrative purposes.
|  | March 31, |  |  | March 31, |
|  | 2025 |  |  | 2024 |
United States |  | $ | 29,200 |  |  | $ | 32,229 |
Sweden |  |  | 11,634 |  |  |  | 1,271 |
Germany |  |  | 6,712 |  |  |  | 7,596 |
Other |  |  | 1,169 |  |  |  | 1,208 |
Total long-lived assets |  | $ | 48,715 |  |  | $ | 42,304 |
Revenues from external customers are attributed to individual countries based upon locations to which the product is shipped or exported, as follows:
|  | Year Ended March 31, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
United States |  | $ | 116,615 |  |  | $ | 106,395 |  |  | $ | 117,281 |
China |  |  | 25,312 |  |  |  | 24,933 |  |  |  | 25,797 |
Other |  |  | 99,051 |  |  |  | 84,859 |  |  |  | 76,002 |
Total revenues |  | $ | 240,978 |  |  | $ | 216,187 |  |  | $ | 219,080 |
No customer accounts for 10% or more of our consolidated revenues. No foreign country other than China exceeds 10% of total revenues.

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- Definition The entire disclosure for reporting segments including data and tables. 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