XML 52 R41.htm IDEA: XBRL DOCUMENT v3.24.3
SEGMENT REPORTING (Tables)
9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
The Company's segment information is as follows:
Three Months Ended September 30, 2024Nine Months Ended September 30, 2024
Intellectual Property OperationsIndustrial OperationsEnergy OperationsTotalIntellectual Property OperationsIndustrial OperationsEnergy OperationsTotal
(In thousands)
Revenues:
License fees$486 $— $— $486 $19,442 $— $— $19,442 
Printers and parts— 2,367 — 2,367 — 7,316 — 7,316 
Consumable products— 3,782 — 3,782 — 12,362 — 12,362 
Services— 858 — 858 — 2,505 — 2,505 
Oil sales— — 8,997 8,997 — — 17,740 17,740 
Natural gas sales— — 2,829 2,829 — — 5,550 5,550 
Natural gas liquids sales— — 3,837 3,837 — — 8,390 8,390 
Other service sales— — 154 154 — — 163 163 
Total revenues486 7,007 15,817 23,310 19,442 22,183 31,843 73,468 
Cost of revenues:
Inventor royalties220 — — 220 1,628 — — 1,628 
Contingent legal fees(22)— — (22)2,373 — — 2,373 
Litigation and licensing expenses797 — — 797 3,087 — — 3,087 
Amortization of patents4,712 — — 4,712 11,385 — — 11,385 
Cost of sales— 3,523 — 3,523 — 10,849 — 10,849 
Cost of production— — 11,729 11,729 — — 23,082 23,082 
Total cost of revenues5,707 3,523 11,729 20,959 18,473 10,849 23,082 52,404 
Segment gross (loss) profit(5,221)3,484 4,088 2,351 969 11,334 8,761 21,064 
Other operating expenses:
Engineering and development expenses— 108 — 108 — 420 — 420 
Sales and marketing expenses— 1,391 — 1,391 — 4,333 — 4,333 
Amortization of intangible assets— 433 — 433 — 1,299 — 1,299 
General and administrative expenses1,917 1,653 1,024 4,594 7,078 4,405 2,292 13,775 
Total other operating expenses1,917 3,585 1,024 6,526 7,078 10,457 2,292 19,827 
Segment operating (loss) income$(7,138)$(101)$3,064 (4,175)$(6,109)$877 $6,469 1,237 
Parent general and administrative expenses6,097 18,354 
Operating loss(10,272)(17,117)
Total other income (expense)4,112 (6,231)
Loss before income taxes$(6,160)$(23,348)
Three Months Ended September 30, 2023Nine Months Ended September 30, 2023
Intellectual Property OperationsIndustrial OperationsTotalIntellectual Property OperationsIndustrial OperationsTotal
(In thousands)
Revenues:
License fees$1,760 $— $1,760 $6,330 $— $6,330 
Printers and parts— 2,852 2,852 — 9,640 9,640 
Consumable products— 4,576 4,576 — 14,074 14,074 
Services— 896 896 — 2,747 2,747 
Total revenues1,760 8,324 10,084 6,330 26,461 32,791 
Cost of revenues:
Inventor royalties497 — 497 863 — 863 
Contingent legal fees346 — 346 890 — 890 
Litigation and licensing expenses2,026 — 2,026 5,663 — 5,663 
Amortization of patents2,601 — 2,601 7,802 — 7,802 
Cost of sales— 4,377 4,377 — 13,530 13,530 
Total cost of revenues5,470 4,377 9,847 15,218 13,530 28,748 
Segment gross (loss) profit(3,710)3,947 237 (8,888)12,931 4,043 
Other operating expenses:
Engineering and development expenses— 172 172 — 593 593 
Sales and marketing expenses— 1,613 1,613 — 5,385 5,385 
Amortization of intangible assets— 432 432 — 1,299 1,299 
General and administrative expenses1,818 1,567 3,385 5,317 5,444 10,761 
Total other operating expenses1,818 3,784 5,602 5,317 12,721 18,038 
Segment operating (loss) income$(5,528)$163 (5,365)$(14,205)$210 (13,995)
Parent general and administrative expenses7,788 21,011 
Operating income loss(13,153)(35,006)
Total other income15,718 29,077 
Income (loss) before income taxes$2,565 $(5,929)
Schedule of Segment Reporting Information, by Segment
September 30, 2024December 31, 2023
(In thousands)
Equity securities investments:
Equity securities$14,100 $63,068 
Equity securities without readily determinable fair value5,816 5,816 
Equity method investments30,934 30,934 
Total parent equity securities investments50,850 99,818 
Other parent assets176,739 218,909 
Segment total assets:
Intellectual property operations220,914 234,254 
Industrial operations47,816 47,854 
Energy operations211,253 32,710 
Total assets$707,572 $633,545 
Revenue from External Customers by Geographic Areas
Three Months Ended September 30, 2024Nine Months Ended September 30, 2024
Intellectual Property OperationsIndustrial OperationsEnergy OperationsTotalIntellectual Property OperationsIndustrial OperationsEnergy OperationsTotal
(In thousands)
Revenues by geographic area:
United States$483 $3,074 $15,817 $19,374 $7,878 $9,106 $31,843 $48,827 
Canada and Latin America233 — 235 719 — 722 
Total Americas485 3,307 15,817 19,609 7,881 9,825 31,843 49,549 
Europe, Middle East and Africa— 1,689 — 1,689 — 5,872 — 5,872 
China— 306 — 306 4,650 1,056 — 5,706 
India— 633 — 633 — 2,068 — 2,068 
Asia-Pacific, excluding China and India1,072 — 1,073 6,911 3,362 — 10,273 
Total Asia-Pacific2,011 — 2,012 11,561 6,486 — 18,047 
Total revenues$486 $7,007 $15,817 $23,310 $19,442 $22,183 $31,843 $73,468 
Three Months Ended September 30, 2023Nine Months Ended September 30, 2023
Intellectual Property OperationsIndustrial OperationsTotalIntellectual Property OperationsIndustrial OperationsTotal
(In thousands)
Revenues by geographic area:
United States$1,756 $3,476 $5,232 $2,815 $10,987 $13,802 
Canada and Latin America238 240 510 791 1,301 
Total Americas1,758 3,714 5,472 3,325 11,778 15,103 
Europe, Middle East and Africa— 1,840 1,840 — 6,767 6,767 
China— 793 793 3,000 2,408 5,408 
India— 1,024 1,024 — 2,022 2,022 
Asia-Pacific, excluding China and India953 955 3,486 3,491 
Total Asia-Pacific2,770 2,772 3,005 7,916 10,921 
Total revenues$1,760 $8,324 $10,084 $6,330 $26,461 $32,791 
Long-lived Assets by Geographic Areas
September 30, 2024
Intellectual Property OperationsIndustrial OperationsEnergy OperationsTotal
(In thousands)
Long-lived tangible assets by geographic area:
United States$141 $252 $190,885 $191,278 
Malaysia— 964 — 964 
Other foreign countries— 273 — 273 
Total$141 $1,489 $190,885 $192,515 
December 31, 2023
Intellectual Property OperationsIndustrial OperationsEnergy OperationsTotal
(In thousands)
Long-lived tangible assets by geographic area:
United States$201 $92 $25,117 $25,410 
Malaysia— 1,949 — 1,949 
Other foreign countries— 114 — 114 
Total$201 $2,155 $25,117 $27,473