Segment Information and Major Customers (Tables)

12 Months Ended

Sep. 30, 2023

Schedule of Segment Reporting Information, by Segment

Summary operating results for each of our segments were as follows (in thousands):


	Year ended September 30,
		2023		2022		2021
Revenue
IoT Products & Services		$	345,680	$	297,645	$	264,173
IoT Solutions		99,169		90,580		44,459
Total revenue		$	444,849	$	388,225	$	308,632
Gross Profit
IoT Products & Services		$	187,958	$	160,117	$	144,472
IoT Solutions		64,245		56,169		22,185
Total gross profit		$	252,203	$	216,286	$	166,657
Operating Income (loss)
IoT Products & Services		$	51,157	$	41,562	$	18,212
IoT Solutions		(1,062)		(3,342)		(7,684)
Total operating income		$	50,095	$	38,220	$	10,528
Depreciation and Amortization
IoT Products & Services		$	12,544	$	13,974	$	13,109
IoT Solutions		19,432		19,865		7,768
Total depreciation and amortization		$	31,976	$	33,839	$	20,877

Payments to Acquire Property, Plant and Equipment by Segment

Total expended for property, plant and equipment was as follows (in thousands):


	Year ended September 30,
	2023		2022		2021
IoT Products & Services	$	588	$	1,952	$	2,257
IoT Solutions*	3,510		22		—
Total expended for property, plant and equipment	$	4,098	$	1,974	$	2,257

* Excluded from this amount is $3.9 million, $6.2 million and $1.8 million of transfers of inventory to property plant and equipment for subscriber assets for the year ended September 30, 2023, 2022 and 2021, respectively.

Schedule of Total Assets by Segment

Total assets for each of our segments were as follows (in thousands):


	As of September 30,
	2023		2022
IoT Products & Services	$	384,018	$	390,128
IoT Solutions	419,820		428,867
Unallocated*	31,693		34,900
Total assets	$	835,531	$	853,895

*Unallocated consists of cash and cash equivalents.

Schedule of Net Property, Equipment and Improvements by Geographical Location

Net property, equipment and improvements by geographic location were as follows (in thousands):


	As of September 30,
	2023		2022
United States	$	28,631	$	27,205
International, primarily Europe	477		389
Total net property, equipment and improvements	$	29,108	$	27,594