Note 13 - Segment Information

9 Months Ended

Jun. 30, 2025

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

13. Segment Information

Effective October 1, 2024, the Company changed the composition of its three operating business segments and changed its methodology for allocating manufacturing costs including overhead and other costs of revenue to the segments. 

The Company's business segments are now comprised of: Smart Water, Energy Solutions and Intelligent Industrial. The Smart Water segment emphasizes the Company’s targeted approach in the water management industry. This business segment contains the Hydroconn® smart water connectivity offerings and the Company's Aquana products. The Energy Solutions segment encompass' the Company’s traditional business in oil and gas land and marine exploration products, reservoir monitoring solutions, and will additionally incorporate emerging energy solutions and microseismic monitoring. This segment will include energy-related business from Quantum’s SADAR® products and associated analytics.  The Intelligent Industrial segment includes seismic sensor products used for vibration monitoring geotechnical applications such as mine safety applications and earthquake detection, designs seismic products targeted at the border and perimeter security markets, imaging products, as well as providing contract manufacturing services. The change in methodology for allocating manufacturing costs affected each business segment's operating income (loss) but had no effect on consolidated operating income (loss).  

The following table summarizes the Company’s segment information (in thousands).  Segment information for the three and nine months ended June 30, 2024 has been recast for comparability.

	Three Months Ended						Nine Months Ended
	June 30, 2025			June 30, 2024			June 30, 2025			June 30, 2024
Revenue:
Smart Water	$	10,518		$	9,913		$	27,278		$	20,558
Energy Solutions		8,107			9,382			34,977			60,328
Intelligent Industrial		6,136			6,489			17,596			19,051
Corporate		82			74			238			223
Total	$	24,843		$	25,858		$	80,089		$	100,160
Income (loss) from operations:
Smart Water	$	2,233		$	2,611		$	4,023		$	5,372
Energy Solutions		(1,234	)		(117	)		5,380			13,003
Intelligent Industrial		(1,041	)		(1,282	)		(3,268	)		(2,181	)
Corporate		411			(3,605	)		(8,212	)		(10,256	)
Total	$	369		$	(2,393	)	$	(2,077	)	$	5,938

The Company's manufacturing operations for its operating business segments are combined.  Therefore, the Company does not segregate and report separate balance sheet accounts for each of its segments and therefore, no total asset information is presented in the table above.