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Segment and Customer Concentration Information
9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
Segment and Customer Concentration Information Segment and Customer Concentration Information
Reportable segments are (i) Autonomy Solutions and (ii) Component Sales. These segments reflect the way the CODM evaluates the Company’s business performance and manages its operations. Each segment has distinct product offerings, customers, and market penetration. The Chief Executive Officer is the CODM of the Company.
Autonomy Solutions
This segment manufactures and distributes commercial lidar sensors that measure distance using laser light to generate a highly accurate 3D map for automotive mobility applications. This segment is impacted by trends in and the strength of the autonomous vehicles and associated infrastructure/technology sector.
Component Sales
This segment is in the business of development of ultra-sensitive pixel-based sensors. This segment also designs, tests and provides consulting services for non-standard integrated circuits that are essential for systems to meet the requirement of customers. This segment is impacted by trends in and the strength of automobile and aeronautics sector as well as government spending in military and defense activities.
The accounting policies of the operating segments are the same as those described in Note 2. Segment operating results and reconciliations to the Company’s consolidated balances are as follows (in thousands):
Three Months Ended September 30, 2021
Autonomy
Solutions
Component
Sales
Total
reportable
segments
Eliminations (1)Total
Consolidated
Revenue:
Revenues from external customers$7,550 $428 $7,978 $— $7,978 
Revenues from internal customer2,379 1,516 3,895 (3,895)— 
Total revenue$9,929 $1,944 $11,873 $(3,895)$7,978 
Depreciation and amortization$673 $235 $908 $— $908 
Operating loss(69,614)(787)(70,401)256 (70,145)
Other significant items:
Segment assets606,431 11,064 617,495 (9,689)607,806 
Inventories, net7,531 340 7,871 — 7,871 
Three Months Ended September 30, 2020
Autonomy
Solutions
Component
Sales
Total
reportable
segments
Eliminations (1)Total
Consolidated
Revenue:
Revenues from external customers$3,481 $742 $4,223 $— $4,223 
Revenues from internal customer639 813 1,452 (1,452)— 
Total revenue$4,120 $1,555 $5,675 $(1,452)$4,223 
Depreciation and amortization$665 $23 $688 $— $688 
Operating income (loss)(21,800)(21,796)— (21,796)
Other significant items:
Segment assets191,778 2,979 194,757 (3,304)191,453 
Inventories, net2,912 2,921 — 2,921 
Nine Months Ended September 30, 2021
Autonomy
Solutions
Component
Sales
Total
reportable
segments
Eliminations (1)Total
Consolidated
Revenue:
Revenues from external customers$17,708 $1,892 $19,600 $— $19,600 
Revenues from internal customer5,500 3,865 9,365 (9,365)— 
Total revenue$23,208 $5,757 $28,965 $(9,365)$19,600 
Depreciation and amortization$1,963 $278 $2,241 $(1)$2,240 
Operating loss(142,651)(1,100)(143,751)161 (143,590)
Other significant items:
Segment assets606,431 11,064 617,495 (9,689)607,806 
Inventories, net7,531 340 7,871 — 7,871 
Nine Months Ended September 30, 2020
Autonomy
Solutions
Component
Sales
Total
reportable
segments
Eliminations (1)Total
Consolidated
Revenue:
Revenues from external customers$9,587 $1,932 $11,519 $— $11,519 
Revenues from internal customer639 2,544 3,183 (3,183)— 
Total revenue$10,226 $4,476 $14,702 $(3,183)$11,519 
Depreciation and amortization$1,825 $104 $1,929 $— $1,929 
Operating income (loss)(56,673)192 (56,481)— (56,481)
Other significant items:
Segment assets191,778 2,979 194,757 (3,304)191,453 
Inventories, net2,912 2,921 — 2,921 
(1) Represent the eliminations of all intercompany balances and transactions during the period presented.
Two customers accounted for 63% and 24% of the Company’s revenue for the three months ended September 30, 2021. Three customers accounted for 38%, 31% and 11% of the Company’s revenue for the nine months ended September 30, 2021, Two customers accounted for 52% and 17% of the Company’s revenue for the three months ended September 30, 2020. One customer accounted for 64% of the Company’s revenue for the nine months ended September 30, 2020