Segment Information

9 Months Ended

Mar. 31, 2024

Segment Information [Abstract]

Segment Information

Note 15. Segment Information

Operating segments are defined as components of an enterprise about which separate financial information is available and evaluated regularly by the chief operating decision maker, or decision–making group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker is its Chief Executive Officer. The Company operates in two segments, Fabrication Services, which consists of engineering review services and backend packaging services, and RF Filters, which consists of filter product sales.

The Company evaluates performance of its operating segments based on revenue and operating profit (loss). Segment information for the three and nine months ended March 31, 2024 and 2023 are as follows (in thousands):

	Fabrication Services			RF Filters			Total
Three months ended March 31, 2024
Revenue	$	2,749		$	4,761		$	7,510
Cost of revenue		2,068			5,093			7,161
Gross margin		681			(332	)		349
Research and development		—			5,971			5,971
General and administrative		1,212			7,723			8,935
Other operating expenses		—			8,051			8,051
Income (Loss) from Operations	$	(531	)	$	(22,077	)	$	(22,608	)
Three months ended March 31, 2023
Revenue	$	3,397		$	3,959		$	7,356
Cost of revenue		2,009			6,463			8,472
Gross margin		1,388			(2,504	)		(1,116	)
Research and development		—			7,349			7,349
General and administrative		2,018			6,799			8,817
Income (Loss) from Operations	$	(630	)	$	(16,652	)	$	(17,282	)
Nine months ended March 31, 2024
Revenue	$	8,709		$	12,820		$	21,529
Cost of revenue		5,868			15,715			21,583
Gross margin		2,841			(2,895	)		(54	)
Research and development		—			22,729			22,729
General and administrative		3,413			25,040			28,453
Other operating expenses		—			8,051			8,051
Income (Loss) from Operations	$	(572	)	$	(58,715	)	$	(59,287	)
Nine months ended March 31, 2023
Revenue	$	6,248		$	12,540		$	18,788
Cost of revenue		4,027			16,173			20,200
Gross margin		2,221			(3,633	)		(1,412	)
Research and development		—			25,079			25,079
General and administrative		2,018			19,632			21,650
Income (Loss) from Operations	$	203		$	(48,344	)	$	(48,141	)
As of March 31, 2024
Accounts receivable	$	1,213		$	3,235		$	4,448
Property and equipment, net		2,112			51,086			53,198
As of June 30, 2023
Accounts receivable	$	1,124		$	3,629		$	4,753
Property and equipment, net		2,394			55,432			57,826