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Segment Information

12 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Segment Information

20. Segment Information

The Company’s chief operating decision maker (“CODM”), who is the Company’s Chief Executive Officer, allocates resources and assesses performance based on financial information of the Company. The CODM reviews financial information presented for each reportable segment for purposes of making operating decisions and assessing financial performance.

The Company manages and aggregates its operational and financial information in accordance with two reportable segments: Rx and Consumer Health. The Rx Segment consists of the Company’s prescription products. The Consumer Health Segment contains the Company’s consumer healthcare products. For purposes of determining operating income or loss by segment, the Company allocates common expenses such as corporate administration, executive and board compensation, insurance, and fees associated with being a publicly traded entity, among others, to the Rx Segment. The Rx Segment also includes pipeline research and development. The CODM does not regularly review asset information by segment, accordingly, asset information is not provided by segment.

During the year ended June 30, 2023, the Rx Segment recognized an impairment loss of $2.6 million due to ceasing active development of the NT0502 product candidate as a result of the Company’s increased focus on commercial efforts. The Consumer Health Segment recognized an impairment loss of $3.0 million from intangible assets (see Note 7 — Goodwill and Other Intangible Assets) and an inventory write-off of $2.1 million due to the discontinuance of its products.

During the year ended June 30, 2022, the Rx Segment recognized a total impairment loss of $64.6 million related to impairment of goodwill and write-down of assets due to the discontinuance of five non-core products, the Consumer Health Segment recognized $10.8 million of goodwill and intangible assets write downs (see Note 7 — Goodwill and Other Intangible Assets).

Select financial information for these segments is as follows:

​

​	​	​	​	​	​	​	​	​
(In thousands)	​	Rx	​	​	Consumer Health	​	​	Consolidated
​	​	​	​	​	​	​	​	​
Year Ended June 30, 2023:	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​
Product revenue, net	$	73,799	​	$	33,600	​	$	107,399
Loss from operations	$	(7,358)	​	$	(9,707)	​	$	(17,065)
​	​	​	​	​	​	​	​	​
Depreciation and amortization	$	6,271	​	$	1,116	​	$	7,387
Impairment and write-off expense	$	2,730	​	$	5,094	​	$	7,824
Stock based compensation	$	5,722	​	$	324	​	$	6,046
​	​	​	​	​	​	​	​	​
Year Ended June 30, 2022:	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​
Product revenue, net	$	61,121	​	$	35,548	​	$	96,669
Loss from operations	$	(92,441)	​	$	(17,465)	​	$	(109,906)
​	​	​	​	​	​	​	​	​
Depreciation and amortization	$	7,821	​	$	1,557	​	$	9,378
Impairment expense	$	64,649	​	$	10,809	​	$	75,458
Stock based compensation	$	5,190	​	$	58	​	$	5,248

​

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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