v3.26.3
Segment Information and Geographic Data
 3 Months Ended
Aug. 31, 2026
Segment Reporting [Abstract]  
Segment Information and Geographic Data

5. SEGMENT INFORMATION AND GEOGRAPHIC DATA

The Company has two reportable segments: Food Safety and Animal Safety. The results of each segment are regularly reviewed by the chief operating decision maker ("CODM") to assess the performance of the segments and make decisions regarding the allocation of resources to the segments. Our CODM is our Chief Executive Officer. The performance measure that the CODM uses is operating income. Our CODM reviews the budget and actual financial results of the operating segments, decides how to allocate resources to meet our strategic priorities, and meets with operating segment leaders on a periodic basis to determine the allocation of resources. Refer to the condensed consolidated statements of operations for the reconciliation of consolidated operating income (loss), which is the total of Company’s segment measure of profit or loss, to consolidated income before income taxes.

The following tables reflect segment and corporate information:

 

 

 

Three months ended August 31, 2026

 

 

 

Food Safety

 

 

Animal Safety

 

 

Total

 

Total Revenues

 

$

169.7

 

 

$

61.6

 

 

$

231.3

 

Intersegment Revenue

 

 

(6.5

)

 

 

(2.0

)

 

$

(8.5

)

Revenue from External Customers

 

 

163.2

 

 

 

59.6

 

 

 

222.8

 

Net Cost of Revenues

 

 

80.0

 

 

 

37.3

 

 

 

117.3

 

Operating Expenses

 

 

66.9

 

 

 

14.8

 

 

 

81.7

 

Segment Operating Income

 

$

16.3

 

 

$

7.5

 

 

$

23.8

 

Corporate Expense and Eliminations (1)

 

 

 

 

 

 

 

 

25.6

 

Consolidated Operating Loss

 

 

 

 

 

 

 

$

(1.8

)

 

 

 

 

 

 

 

 

 

 

Total Reportable Segment Assets

 

$

2,851.6

 

 

$

279.6

 

 

$

3,131.2

 

Corporate Assets

 

 

 

 

 

 

 

 

172.0

 

Consolidated Total Assets

 

 

 

 

 

 

 

$

3,303.2

 

 

 

 

 

 

 

 

 

 

 

Depreciation and Amortization

 

$

26.7

 

 

$

2.4

 

 

$

29.1

 

Expenditures for Long-lived Assets

 

$

7.1

 

 

$

1.1

 

 

$

8.2

 

Corporate Interest Expense

 

 

 

 

 

 

 

$

14.4

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended August 31, 2025

 

 

 

Food Safety

 

 

Animal Safety

 

 

Total

 

Total Revenues

 

$

158.5

 

 

$

58.8

 

 

$

217.3

 

Intersegment Revenue

 

 

(6.4

)

 

 

(1.7

)

 

 

(8.1

)

Revenue from External Customers

 

 

152.1

 

 

 

57.1

 

 

 

209.2

 

Net Cost of Revenues

 

 

76.5

 

 

 

37.7

 

 

 

114.2

 

Operating Expenses

 

 

68.4

 

 

 

14.9

 

 

 

83.3

 

Segment Operating Income

 

$

7.2

 

 

$

4.5

 

 

$

11.7

 

Corporate Expense and Eliminations (1)

 

 

 

 

 

 

 

 

27.8

 

Consolidated Operating Loss

 

 

 

 

 

 

 

$

(16.1

)

 

 

 

 

 

 

 

 

 

 

Total Reportable Segment Assets

 

$

2,947.3

 

 

$

291.9

 

 

$

3,239.2

 

Corporate Assets

 

 

 

 

 

 

 

 

138.9

 

Consolidated Total Assets

 

 

 

 

 

 

 

$

3,378.1

 

 

 

 

 

 

 

 

 

 

 

Depreciation and Amortization

 

$

25.9

 

 

$

3.2

 

 

$

29.1

 

Expenditures for Long-lived Assets

 

$

23.4

 

 

$

0.6

 

 

$

24.0

 

Corporate Interest Expense

 

 

 

 

 

 

 

$

16.4

 
(1)
Includes corporate overhead expenses not allocated to specific business segments, and excludes intersegment transactions.

 

 

The following table presents revenue disaggregated by geographic location:

 

 

 

Three months ended August 31,

 

 

 

 

2026

 

 

2025

 

Domestic

 

 

$

110.1

 

 

$

102.1

 

International

 

 

 

112.7

 

 

 

107.1

 

Total revenue

 

 

$

222.8

 

 

$

209.2