v3.26.1
SEGMENT RESULTS
 12 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
SEGMENT RESULTS

NOTE 14. SEGMENT RESULTS

 

FASB ASC 280-10-50 requires use of the “management approach” model for segment reporting. The management approach is based on the way a company’s management organized segments within the company for making operating decisions and assessing performance. Reportable segments are based on products and services, geography, legal structure, management structure, or any other manner in which management disaggregates a company.

 

Consolidated income from operations, which is reported in the accompanying consolidated statements of operations, is the measure of segment profit or loss that is regularly reviewed by the CODM. This enables the CODM to assess the overall level of available resources and determine how best to deploy these resources across research and development projects in line with the long-term company-wide strategic goals. There are no significant segment expenses or other segment items that are separately provided to the CODM beyond research and development and general and administrative expenses. The CODM does not receive segment level information related to depreciation, amortization, capital expenditures, or other non-cash items, and therefore such items are excluded. The ANDA segment follows the same accounting policies used in the preparation of the Company’s consolidated financial statements.

 

The following represents selected information for the Company’s reportable segment:

 

   2026   2025 
   For the Years Ended March 31, 
   2026   2025 
Operating Income by Segment          
ANDA  $69,281,380   $32,121,818 
Operating income by Segment  $69,281,380   $32,121,818 

 

The table below reconciles the Company’s operating income by segment to income from operations and to income (loss) before income taxes as reported in the Company’s consolidated statements of operations:

 

   2026   2025 
   For the Years Ended March 31, 
   2026   2025 
Operating income by segment  $69,281,380   $32,121,818 
Corporate unallocated costs   (17,596,803)   (9,001,930)
Impairment of intangible assets   (847,012)   (1,603,426)
Depreciation and amortization expense   (1,547,874)   (1,688,429)
Significant non-cash items   (176,507)   (227,565)
           
Income from operations   49,113,184    19,600,468 
           
Change in fair value of derivative instruments   7,855,607    (18,901,185)
Interest expense and amortization of debt issuance costs   (396,664)   (772,367)
Interest income   207,857    20,944 
Other income   34,500    — 
Income (loss) before income taxes  $56,814,484   $(52,140)

 

 

ELITE PHARMACEUTICALS, INC. AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS