v3.25.1
SEGMENT REPORTING (Tables)
3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
SCHEDULE OF SEGMENTS

The following provides segment information as described below (in thousands):

 

                 
   For the three months ended March 31, 2025 
   CVD   SDC   MesoScribe   Total 
Segment revenue  $6,314   $2,142   $22   $8,478 
Less:                    
Cost of revenue   4,530    1,251    1    5,782 
Research and development   734    47    -    781 
Selling   367    53    -    420 
General and administrative   177    202    -    379 
Interest expense   3    -    -    3 
Segment net income  $503   $589   $21   $1,113 
Segment assets  $18,430   $3,012   $-   $21,442 
Capital expenditures  $39   $6   $-   $45 
Depreciation and amortization  $172   $13   $-   $185 

 

                 
   For the three months ended March 31, 2024 
   CVD   SDC   MesoScribe   Total 
Segment revenue  $2,946   $1,932   $59   $4,937 
Less:                    
Cost of revenue   3,052    1,016    72    4,140 
Research and development   678    68    -    746 
Selling   373    46    -    419 
General and administrative   225    170    12    407 
Interest expense   6    -    -    6 
Segment net income  $(1,388)  $632   $(25)  $(781)
Segment assets  $20,159   $3,882   $183   $24,224 
Capital expenditures  $70   $-   $-   $70 
Depreciation and amortization  $141   $12   $-   $153 
SCHEDULE OF RECONCILIATION OF REVENUE OF REPORTABLE SEGMENTS TO CONSOLIDATED REVENUE

The following table presents a reconciliation of revenue of reportable segments to consolidated revenue (in thousands):

SCHEDULE OF RECONCILIATION OF REVENUE OF REPORTABLE SEGMENTS TO CONSOLIDATED REVENUE

 

         
   Three months ended
March 31,
 
   2025   2024 
Revenue of reportable segments  $8,478   $4,937 
Intersegment revenue   (162)   (15)
Consolidated total revenue  $8,316   $4,922 
SCHEDULE OF RECONCILIATION OF NET INCOME (LOSS) OF REPORTABLE SEGMENTS TO CONSOLIDATED NET LOSS

The following table presents a reconciliation of net income (loss) of reportable segments to consolidated net loss (in thousand):

 

         
   Three months ended
March 31,
 
   2025   2024 
Net income (loss) of reportable segments  $1,113   $(781)
Unallocated amounts:          
Corporate expenses   (847)   (848)
Interest income   110    157 
Income tax (expense) benefit   (16)   - 
Consolidated net loss  $360   $(1,472)
SCHEDULE OF RECONCILIATION OF TOTAL ASSETS OF REPORTABLE SEGMENTS TO CONSOLIDATED TOTAL ASSETS

The following table presents a reconciliation of total assets of reportable segments to consolidated total assets (in thousands):

 

         
   Three months ended
March 31,
 
   2025   2024 
Total assets of reportable segments  $21,442   $24,224 
Unallocated amounts:          
Cash equivalents   9,550    11,129 
Other current assets   88    90 
Consolidated total assets  $31,080   $35,443 
SCHEDULE OF REVENUE BY GEOGRAPHIC AREA

The following table presents revenue by geographic area (in thousands):

 

         
   Three months ended
March 31,
 
   2025   2024 
United States  $8,137   $4,768 
North America, excluding US   3    1 
Europe, Middle East and Africa   55    54 
Asia-Pacific   121    99 
Consolidated total revenue  $8,316   $4,922