| Results of operations by Reporting Segment |
Results of operations for the three and six months ended June 30, 2025 and 2024 by reporting segment were as follows (in thousands):
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Three Months Ended June 30, 2025 |
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|
ISCO |
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|
LCT |
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|
LSC |
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Total |
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Product sales |
|
$ |
— |
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|
$ |
2,303 |
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|
$ |
144 |
|
|
$ |
2,447 |
|
Operating expenses: |
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Cost of sales |
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|
— |
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|
|
928 |
|
|
|
(1 |
) |
|
|
927 |
|
General and administrative |
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|
567 |
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|
213 |
|
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|
125 |
|
|
|
905 |
|
Selling and marketing |
|
|
— |
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|
|
188 |
|
|
|
98 |
|
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|
286 |
|
Research and development |
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|
77 |
|
|
|
74 |
|
|
|
11 |
|
|
|
162 |
|
Total operating expenses |
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|
644 |
|
|
|
1,403 |
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|
|
233 |
|
|
|
2,280 |
|
(Loss) income from operations |
|
$ |
(644 |
) |
|
$ |
900 |
|
|
$ |
(89 |
) |
|
$ |
167 |
|
Total other expense, net |
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(38 |
) |
Net income |
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$ |
129 |
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Additional Segment Information |
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Interest expense (1) |
|
$ |
(38 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(38 |
) |
Depreciation and amortization |
|
$ |
19 |
|
|
$ |
35 |
|
|
$ |
— |
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|
$ |
54 |
|
Share-based compensation expense |
|
$ |
40 |
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|
$ |
12 |
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$ |
9 |
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|
$ |
61 |
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(1) Includes interest expense and interest expense - related party. |
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Three Months Ended June 30, 2024 |
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|
ISCO |
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|
LCT |
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|
LSC |
|
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Total |
|
Product sales |
|
$ |
— |
|
|
$ |
2,120 |
|
|
$ |
211 |
|
|
$ |
2,331 |
|
Operating expenses: |
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|
|
|
|
|
|
|
|
|
|
Cost of sales |
|
|
— |
|
|
|
814 |
|
|
|
99 |
|
|
|
913 |
|
General and administrative |
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|
550 |
|
|
|
204 |
|
|
|
130 |
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|
|
884 |
|
Selling and marketing |
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|
— |
|
|
|
179 |
|
|
|
123 |
|
|
|
302 |
|
Research and development |
|
|
8 |
|
|
|
65 |
|
|
|
10 |
|
|
|
83 |
|
Total operating expenses |
|
|
558 |
|
|
|
1,262 |
|
|
|
362 |
|
|
|
2,182 |
|
(Loss) income from operations |
|
$ |
(558 |
) |
|
$ |
858 |
|
|
$ |
(151 |
) |
|
$ |
149 |
|
Total other expense, net |
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|
|
|
|
|
|
|
|
|
|
(30 |
) |
Net income |
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|
|
|
|
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|
$ |
119 |
|
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|
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Additional Segment Information |
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|
|
|
|
|
|
|
|
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|
Interest expense (1) |
|
$ |
(35 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(35 |
) |
Depreciation and amortization |
|
$ |
20 |
|
|
$ |
30 |
|
|
$ |
— |
|
|
$ |
50 |
|
Share-based compensation expense |
|
$ |
82 |
|
|
$ |
28 |
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|
$ |
19 |
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|
$ |
129 |
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|
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|
(1) Includes interest expense and interest expense - related party. |
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Six Months Ended June 30, 2025 |
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|
ISCO |
|
|
LCT |
|
|
LSC |
|
|
Total |
|
Product sales |
|
$ |
— |
|
|
$ |
4,298 |
|
|
$ |
278 |
|
|
$ |
4,576 |
|
Operating expenses: |
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|
|
|
|
|
|
|
|
|
Cost of sales |
|
|
— |
|
|
|
1,809 |
|
|
|
110 |
|
|
|
1,919 |
|
General and administrative |
|
|
1,121 |
|
|
|
425 |
|
|
|
251 |
|
|
|
1,797 |
|
Selling and marketing |
|
|
— |
|
|
|
364 |
|
|
|
195 |
|
|
|
559 |
|
Research and development |
|
|
195 |
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|
|
135 |
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|
|
19 |
|
|
|
349 |
|
Total operating expenses |
|
|
1,316 |
|
|
|
2,733 |
|
|
|
575 |
|
|
|
4,624 |
|
(Loss) income from operations |
|
$ |
(1,316 |
) |
|
$ |
1,565 |
|
|
$ |
(297 |
) |
|
$ |
(48 |
) |
Total other expense, net |
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|
|
|
|
|
|
|
|
|
|
(79 |
) |
Net loss |
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|
|
|
|
|
|
|
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|
$ |
(127 |
) |
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Additional Segment Information |
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|
|
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|
|
|
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|
Interest expense (1) |
|
$ |
(79 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(79 |
) |
Depreciation and amortization |
|
$ |
39 |
|
|
$ |
69 |
|
|
$ |
1 |
|
|
$ |
109 |
|
Share-based compensation expense |
|
$ |
102 |
|
|
$ |
27 |
|
|
$ |
32 |
|
|
$ |
161 |
|
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|
(1) Includes interest expense and interest expense - related party. |
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|
Six Months Ended June 30, 2024 |
|
|
|
ISCO |
|
|
LCT |
|
|
LSC |
|
|
Total |
|
Product sales |
|
$ |
— |
|
|
$ |
4,043 |
|
|
$ |
417 |
|
|
$ |
4,460 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Cost of sales |
|
|
— |
|
|
|
1,595 |
|
|
|
205 |
|
|
|
1,800 |
|
General and administrative |
|
|
1,134 |
|
|
|
396 |
|
|
|
263 |
|
|
|
1,793 |
|
Selling and marketing |
|
|
— |
|
|
|
360 |
|
|
|
276 |
|
|
|
636 |
|
Research and development |
|
|
106 |
|
|
|
134 |
|
|
|
20 |
|
|
|
260 |
|
Total operating expenses |
|
|
1,240 |
|
|
|
2,485 |
|
|
|
764 |
|
|
|
4,489 |
|
(Loss) income from operations |
|
$ |
(1,240 |
) |
|
$ |
1,558 |
|
|
$ |
(347 |
) |
|
$ |
(29 |
) |
Total other expense, net |
|
|
|
|
|
|
|
|
|
|
|
(66 |
) |
Net loss |
|
|
|
|
|
|
|
|
|
|
$ |
(95 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Additional Segment Information |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense (1) |
|
$ |
(71 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(71 |
) |
Depreciation and amortization |
|
$ |
40 |
|
|
$ |
58 |
|
|
$ |
1 |
|
|
$ |
99 |
|
Share-based compensation expense |
|
$ |
170 |
|
|
$ |
57 |
|
|
$ |
39 |
|
|
$ |
266 |
|
|
|
|
|
|
|
|
|
|
|
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|
|
(1) Includes interest expense and interest expense - related party. |
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