Segment and Customer Concentration Information

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Segment and Customer Concentration Information

Segment and Customer Concentration Information

Reportable segments are (i) Autonomy Solutions and (ii) ATS. These segments reflect the way the chief operating decision maker (“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.

ATS

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 June 30, 2022
	Autonomy Solutions		ATS		Total reportable segments		Eliminations (1)		Total Consolidated
Revenue:
Revenues from external customers	$	4,179	$	5,753	$	9,932	$	—	$	9,932
Revenues from internal customer	5,435		504		5,939		(5,939)		—
Total revenue	$	9,614	$	6,257	$	15,871	$	(5,939)	$	9,932
Depreciation and amortization	$	976	$	763	$	1,739	$	—	$	1,739
Operating income (loss)	(105,592)		728		(104,864)		424		(104,440)
Other significant items:
Segment assets	786,708		51,046		837,754		(62,157)		775,597
Inventories, net	9,022		327		9,349		—		9,349

	Three Months Ended June 30, 2021
	Autonomy Solutions		ATS		Total reportable segments		Eliminations (1)		Total Consolidated
Revenue:
Revenues from external customers	$	5,822	$	487	$	6,309	$	—	$	6,309
Revenues from internal customer	1,846		1,207		3,053		(3,053)		—
Total revenue	$	7,668	$	1,694	$	9,362	$	(3,053)	$	6,309
Depreciation and amortization	$	652	$	23	$	675	$	—	$	675
Operating income (loss)	(44,169)		(76)		(44,245)		44		(44,201)
Other significant items:
Segment assets	625,386		3,483		628,869		(2,702)		626,167
Inventories, net	4,288		30		4,318		—		4,318

	Six Months Ended June 30, 2022
	Autonomy Solutions		ATS		Total reportable segments		Eliminations (1)		Total Consolidated
Revenue:
Revenues from external customers	$	10,077	$	6,710	$	16,787	$	—	$	16,787
Revenues from internal customer	7,796		2,660		10,456		(10,456)		—
Total revenue	$	17,873	$	9,370	$	27,243	$	(10,456)	$	16,787
Depreciation and amortization	$	1,520	$	1,024	$	2,544	$	—	$	2,544
Operating loss	(187,769)		998		(186,771)		—		(186,771)
Other significant items:
Segment assets	786,708		51,046		837,754		(62,157)		775,597
Inventories, net	9,022		327		9,349		—		9,349

	Six Months Ended June 30, 2021
	Autonomy Solutions		ATS		Total reportable segments		Eliminations (1)		Total Consolidated
Revenue:
Revenues from external customers	$	10,158	$	1,464	$	11,622	$	—	$	11,622
Revenues from internal customer	3,121		2,349		5,470		(5,470)		—
Total revenue	$	13,279	$	3,813	$	17,092	$	(5,470)	$	11,622
Depreciation and amortization	$	1,290	$	43	$	1,333	$	(1)	$	1,332
Operating income (loss)	(73,037)		(313)		(73,350)		(95)		(73,445)
Other significant items:
Segment assets	625,386		3,483		628,869		(2,702)		626,167
Inventories, net	4,288		30		4,318		—		4,318

(1) Represents the eliminations of all intercompany balances and transactions during the period presented.

One customer accounted for 24% of the Company’s revenue for the three months ended June 30, 2022. Two customers accounted for 35% and 15% of the Company’s revenue for the six months ended June 30, 2022. Three customers accounted for 30%, 30% and 25%, respectively, of the Company’s revenue for the three months ended June 30, 2021. Three customers accounted for 21%, 37% and 18%, respectively, of the Company’s revenue for the six months ended June 30, 2021.