XML 22 R8.htm IDEA: XBRL DOCUMENT v3.25.1
Segment Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
Our business is aggregated into the following two reportable segments:
•Mobile Solutions, which is focused on growth in the automotive, general industrial, and medical end markets; and
•Power Solutions, which is focused on growth in the electrical, general industrial, automotive, and medical end markets.
These components are operating segments as each has engaged in business activities for which it earns revenues and incurs expenses, discrete financial information is available for each, and this is the level at which the chief operating decision maker (“CODM”) reviews discrete financial information for purposes of allocating resources and assessing performance. The CODM, who is our President and Chief Executive Officer, uses segment income (loss) from operations to evaluate the performance of our segments each quarter and for annual forecasting purposes. Income (loss) from operations is used to make key operating decisions, such as the amount and timing of capital expenditures, plant optimization actions, and allocation of management resources. In addition to our two reportable segments, we report a Corporate category which includes corporate costs and unallocated expenses.
The following tables reconcile segment revenues to consolidated loss before provision for income taxes and share of net income from joint venture.
Three Months Ended March 31, 2025Mobile
Solutions		Power
Solutions		Corporate and EliminationsTotal
Sales$62,244 $43,508 (64)$105,688 
Cost of sales56,450 35,268 (72)91,646 
Selling, general, and administrative expense3,538 2,682 4,950 11,170 
Depreciation expense4,209 780 380 5,369 
Other segment items (1)734 1,755 (197)2,292 
Segment income (loss) from operations$(2,687)$3,023 $(5,125)$(4,789)
Interest expense5,194 
Other income, net(2,169)
Loss before provision for income taxes and share of net income from joint venture$(7,814)

Three Months Ended March 31, 2024Mobile
Solutions		Power
Solutions		Corporate and EliminationsTotal
Sales$73,060 $48,238 (100)$121,198 
Cost of sales63,087 38,110 (111)101,086 
Selling, general, and administrative expense3,785 3,260 6,303 13,348 
Depreciation expense7,572 1,049 470 9,091 
Other segment items (1)759 1,840 (143)2,456 
Segment income (loss) from operations$(2,143)$3,979 $(6,619)$(4,783)
Interest expense5,366 
Other expense, net4,153 
Loss before provision for income taxes and share of net income from joint venture$(14,302)
_______________________________
(1)    Other segment items includes amortization expense and other operating expenses and income.
The following table presents capital expenditures and depreciation and amortization by reportable segment.
Three Months Ended
March 31,
20252024
Capital expenditures:
Mobile Solutions$2,666 $3,828 
Power Solutions874 995 
Corporate367 637 
Total$3,907 $5,460 
Depreciation and amortization:
Mobile Solutions$5,047 $8,409 
Power Solutions3,347 3,668 
Corporate380 470 
Total$8,774 $12,547 
The following table summarizes total assets by reportable segment.
March 31, 2025December 31, 2024
Mobile Solutions (1)$295,563 $294,204 
Power Solutions128,474 124,460 
Corporate36,687 38,229 
Total$460,724 $456,893 
_______________________________
(1)     Total assets in Mobile Solutions includes $37.6 million and $35.0 million as of March 31, 2025 and December 31, 2024, respectively, related to our investment in a joint venture (see Note 7).