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):
SCHEDULE OF SEGMENTS
| |
| | |
| | |
| | |
| |
| |
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):
SCHEDULE OF RECONCILIATION OF NET INCOME (LOSS) OF REPORTABLE SEGMENTS TO CONSOLIDATED NET LOSS
| |
| | |
| |
| |
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):
SCHEDULE OF RECONCILIATION OF TOTAL ASSETS OF REPORTABLE SEGMENTS TO CONSOLIDATED TOTAL ASSETS
| |
| | |
| |
| |
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 | |
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SCHEDULE OF REVENUE BY GEOGRAPHIC AREA |
The
following table presents revenue by geographic area (in thousands):
SCHEDULE OF REVENUE BY GEOGRAPHIC AREA
| |
| | |
| |
| |
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 | |
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