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Reportable Segment Information
12 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Reportable Segment Information

14. Reportable Segment Information

Reportable segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, who is the Company’s Chief Executive Officer, in deciding how to allocate resources and in assessing performance. We operate two reportable segments:

Medical Device: Manufacture of performance coatings, including surface modification coating technologies to improve access, deliverability and predictable deployment of medical devices and drug-delivery coating technologies to provide site-specific drug-delivery from the surface of a medical device, with end markets that include neurovascular, peripheral, coronary, and structural heart, among others; and the manufacture of vascular intervention medical devices, including drug-coated balloons, mechanical thrombectomy devices, and radial access balloon catheters and guide sheaths.
In Vitro Diagnostics: Manufacture of chemical and biological components used in in vitro diagnostic immunoassay and molecular tests within the diagnostic and biomedical research markets. Component products include protein stabilizers, surface coatings, substrates and antigens.

Segment revenue, operating income (loss), and depreciation and amortization were as follows:

 

Fiscal Year

 

(In thousands)

2024

 

 

2023

 

 

2022

 

Revenue:

 

 

 

 

 

 

 

 

Medical Device

$

97,508

 

 

$

105,783

 

 

$

72,389

 

In Vitro Diagnostics

 

28,570

 

 

 

26,801

 

 

 

27,562

 

Total revenue

$

126,078

 

 

$

132,584

 

 

$

99,951

 

 

 

 

 

 

 

 

 

 

Operating (loss) income:

 

 

 

 

 

 

 

 

Medical Device

$

(2,239

)

 

$

5,084

 

 

$

(22,923

)

In Vitro Diagnostics

 

13,101

 

 

 

12,637

 

 

 

13,073

 

Total segment operating income (loss)

 

10,862

 

 

 

17,721

 

 

 

(9,850

)

Corporate

 

(16,507

)

 

 

(12,571

)

 

 

(12,247

)

Total operating (loss) income

$

(5,645

)

 

$

5,150

 

 

$

(22,097

)

 

 

 

 

 

 

 

 

 

Depreciation and amortization:

 

 

 

 

 

 

 

 

Medical Device

$

7,901

 

 

$

7,874

 

 

$

8,368

 

In Vitro Diagnostics

 

377

 

 

 

321

 

 

 

355

 

Corporate

 

416

 

 

 

327

 

 

 

419

 

Total depreciation and amortization

$

8,694

 

 

$

8,522

 

 

$

9,142

 

The Corporate category includes expenses that are not fully allocated to the Medical Device and In Vitro Diagnostics segments. These Corporate costs are related to administrative corporate functions, such as executive management, corporate accounting, information technology, legal, human resources and Board of Directors. Corporate may also include expenses, such as litigation and merger-and-acquisition-related costs, which are not specific to a segment and thus not allocated to the reportable segments.

Asset information by segment is not presented because the Company does not provide its chief operating decision maker assets by segment, as the data is not readily available.

Long-lived assets by country, including property and equipment and intangible assets net of accumulated depreciation and amortization, respectively, were as follows:

 

September 30,

 

(In thousands)

2024

 

 

2023

 

U.S.

$

22,348

 

 

$

23,525

 

Ireland

 

26,177

 

 

 

28,707