Segment and Customer Concentration Information

9 Months Ended

Sep. 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 the 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, 2022
	Autonomy Solutions		ATS		Total reportable segments		Eliminations (1)		Total Consolidated
Revenue:
Revenues from external customers	$	6,777	$	6,008	$	12,785	$	—	$	12,785
Revenues from internal customer	3,862		5,558		9,420		(9,420)		—
Total revenue	$	10,639	$	11,566	$	22,205	$	(9,420)	$	12,785
Depreciation and amortization	$	1,176	$	654	$	1,830	$	—	$	1,830
Operating income (loss)	(116,601)		1,868		(114,733)		(221)		(114,954)
Other significant items:
Segment assets	765,241		53,000		818,241		(75,733)		742,508
Inventories, net	8,838		536		9,374		(221)		9,153

	Three Months Ended September 30, 2021
	Autonomy Solutions		ATS		Total reportable segments		Eliminations (1)		Total Consolidated
Revenue:
Revenues from external customers	$	7,550	$	428	$	7,978	$	—	$	7,978
Revenues from internal customer	2,379		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 income (loss)	(69,614)		(787)		(70,401)		256		(70,145)
Other significant items:
Segment assets	606,431		11,064		617,495		(9,689)		607,806
Inventories, net	7,531		340		7,871		—		7,871

	Nine Months Ended September 30, 2022
	Autonomy Solutions		ATS		Total reportable segments		Eliminations (1)		Total Consolidated
Revenue:
Revenues from external customers	$	16,854	$	12,718	$	29,572	$	—	$	29,572
Revenues from internal customer	11,658		8,218		19,876		(19,876)		—
Total revenue	$	28,512	$	20,936	$	49,448	$	(19,876)	$	29,572
Depreciation and amortization	$	2,696	$	1,678	$	4,374	$	—	$	4,374
Operating income (loss)	(304,370)		2,866		(301,504)		(221)		(301,725)
Other significant items:
Segment assets	765,241		53,000		818,241		(75,733)		742,508
Inventories, net	8,838		536		9,374		(221)		9,153

	Nine Months Ended September 30, 2021
	Autonomy Solutions		ATS		Total reportable segments		Eliminations (1)		Total Consolidated
Revenue:
Revenues from external customers	$	17,708	$	1,892	$	19,600	$	—	$	19,600
Revenues from internal customer	5,500		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 income (loss)	(142,651)		(1,100)		(143,751)		161		(143,590)
Other significant items:
Segment assets	606,431		11,064		617,495		(9,689)		607,806
Inventories, net	7,531		340		7,871		—		7,871

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

Two customers accounted for 30% and 12% of the Company’s revenue for the three months ended September 30, 2022. Two customers accounted for 25% and 13% of the Company’s revenue for the nine months ended September 30, 2022. 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.