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Note 11 - Segment Information
 3 Months Ended
Jun. 30, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

Note 11. Segment Information

 

Segment information is prepared on the same basis that our chief operating decision maker ("CODM"), 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. Our CODM uses segment revenues, organic revenues growth (non-GAAP), and gross profit to allocate resources and to assess segment performance. Monthly, the CODM reviews forecast-to-actual and prior-to-current period variances in segment revenue and in segment gross profit to inform decisions regarding capital and personnel deployment. Our CODM also reviews non-GAAP adjusted operating income, defined as operating income excluding non-cash items such as depreciation, amortization and stock-based compensation, to further manage operations.

 

The following tables set forth our segment information:

 

Three months ended June 30, 2025

 

Sterilization and Disinfection Control

  

Biopharmaceutical Development

  

Calibration Solutions

  

Clinical Genomics

  

Total

 

Revenues (a):

 $25,410  $11,486  $12,350  $10,297  $59,543 

Less

                    

Depreciation in cost of revenues

  450   89   105   166   810 

Amortization in cost of revenues

  139   372   -   191   702 

Other cost of revenues (b)

  6,655   4,719   5,203   4,515   21,092 

Total segment cost of revenues

  7,244   5,180   5,308   4,872   22,604 

Gross Profit (c)

 $18,166  $6,306  $7,042  $5,425  $36,939 
                     

Reconciling items:

                    

Operating expense

                 $33,875 

Operating income

                  3,064 

Nonoperating (income), net

                  (3,948)

Earnings before income taxes

                 $7,012 

 

 

Three months ended June 30, 2024

 

Sterilization and Disinfection Control

  

Biopharmaceutical Development

  

Calibration Solutions

  

Clinical Genomics

  

Total

 

Revenues (a):

 $22,957  $12,008  $11,801  $11,404  $58,170 

Less

                    

Depreciation in cost of revenues

  419   46   185   212   862 

Amortization in cost of revenues

  111   345   -   191   647 

Non-cash GKE inventory step-up amortization

  778   -   -   -   778 

Other cost of revenues (b)

  6,091   3,658   4,374   4,511   18,634 

Total segment cost of revenues

  7,399   4,049   4,559   4,914   20,921 

Gross Profit (c)

 $15,558  $7,959  $7,242  $6,490  $37,249 
                     

Reconciling items:

                    

Operating expense

                 $31,669 

Operating income

                  5,580 

Nonoperating expense, net

                  1,675 

Earnings before income taxes

                 $3,905 

 

 

(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 any non-cash inventory step-up amortization expense.

 (c)Gross profit as presented is consistent with GAAP measurement principles and our CODM's review of segment information.

 

The following table sets forth inventories by reportable segment. Our CODM is not provided with and does not regularly review any other segment asset information.

 

  

June 30,

  

March 31,

 
  

2025

  

2025

 

Sterilization and Disinfection Control

 $6,269  $5,545 

Biopharmaceutical Development

  5,944   4,934 

Calibration Solutions

  5,887   5,110 

Clinical Genomics

  10,006   9,776 

Total inventories

 $28,106  $25,365