XML 90 R23.htm IDEA: XBRL DOCUMENT v3.24.0.1
Segment and Customer Concentration Information
12 Months Ended
Dec. 31, 2023
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 for automotive mobility applications. This segment is impacted by trends in the automobile and autonomous vehicles sector and the infrastructure/technology sector.
ATS
This segment is in the business of development of semiconductor technology based lasers and sensors. This segment also designs, tests and provides consulting services for development of integrated circuits. This segment is impacted by trends in and the strength of the automobile and aeronautics sectors 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):
Year ended December 31, 2023
Autonomy
Solutions
ATSTotal
reportable
segments
Eliminations (1)Total
Consolidated
Revenues from external customers$48,835 $20,944 $69,779 $— $69,779 
Depreciation and amortization23,935 2,689 26,624 — 26,624 
Operating loss(513,668)(49,640)(563,308)— (563,308)
Other significant items:
Segment assets595,868 51,436 647,304 (134,937)512,367 
Inventories, net11,162 1,071 12,233 (37)12,196 
Year ended December 31, 2022
Autonomy
Solutions
ATSTotal
reportable
segments
Eliminations (1)Total
Consolidated
Revenues from external customers$24,353 $16,345 $40,698 $— $40,698 
Depreciation and amortization4,110 2,456 6,566 — 6,566 
Operating loss
(412,673)(29,394)(442,067)(335)(442,402)
Other significant items:
Segment assets752,088 60,529 812,617 (125,290)687,327 
Inventories, net8,664 474 9,138 (346)8,792 
Year ended December 31, 2021
Autonomy
Solutions
ATSTotal
reportable
segments
Eliminations (1)Total
Consolidated
Revenues from external customers$28,497 $3,447 $31,944 $— $31,944 
Depreciation and amortization3,723 439 4,162 — 4,162 
Operating loss
(214,133)(324)(214,457)(95)(214,552)
Other significant items:
Segment assets882,704 9,771 892,475 (8,939)883,536 
Inventories, net10,179 163 10,342 — 10,342 
(1) Represent the eliminations of all intercompany balances and transactions during the period presented.
Two customers, customers A and B, of Autonomy Solutions segment accounted for 35%, and 11% of the Company’s revenue for the year ended December 31, 2023. Two customers, customers A and B, accounted for 17% and 21% of the Company’s revenue for the year ended December 31, 2022. Two customers, customers B and C, accounted for 42% and 17% of the Company’s revenue for the year ended December 31, 2021. A vast majority of the Company’s long-lived assets are located in North America.