XML 59 R23.htm IDEA: XBRL DOCUMENT v3.25.1
Segment and Customer Concentration Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment and Customer Concentration Information Segment and Customer Concentration Information
Reportable segments are (i) Autonomy Solutions and (ii) ATS, which also represent our operating segments. See Note 2 for additional information on the Company’s operating segments. 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.
The Company’s CODM evaluates segment performance using segment operating loss and segment assets to allocate operating and capital resources to each segment. The CODM also considers other financial information, including revenue data broken down by products and services within the Autonomy Solutions and ATS segments.
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, 2024
Autonomy
Solutions		ATS
Total
Revenue:
Products
$52,181 $10,427 $62,608 
Services
1,299 11,488 12,787 
Intersegment revenue
— 19,165 19,165 
53,480 41,080 94,560 
Reconciliation of revenue
Elimination of intersegment revenue
(19,165)
Total revenue
75,395 
Less:
Depreciation and amortization22,269 2,986 
Impairment of goodwill and intangible assets
— 6,647 
Other segment items (a)
444,209 53,486 
Operating loss
$(412,998)$(22,039)$(435,037)
Reconciliation of profit or loss
Other income (expense), net
161,154 
Loss before provision for income taxes
$(273,883)
Other significant items:
Total assets
$323,788 $41,425 $365,213 
Inventory
$11,436 $3,472 $14,908 
(a) For each reportable segment, the other segment items category includes:
•Autonomy Solutions - Professional and contracting service expenses, travel expenses, insurance and maintenance expenses, utility expenses, restructuring costs and certain overhead expenses.
•ATS - Professional and contracting service expenses, courier & postage expenses, insurance expenses, facility maintenance & utility expenses, restructuring costs and certain overhead expenses.
Year ended December 31, 2023
Autonomy
Solutions		ATS
Total
Revenue:
Products
$39,489 $5,555 $45,044 
Services
9,346 15,389 24,735 
Intersegment revenue
— 17,528 17,528 
48,835 38,472 87,307 
Reconciliation of revenue
Elimination of intersegment revenue
(17,528)
Total revenue
69,779 
Less:
Depreciation and amortization23,935 2,689 
Impairment of goodwill and intangible assets
— 15,489 
Other segment items (a)
538,568 69,934 
Operating loss
$(513,668)$(49,640)$(563,308)
Reconciliation of profit or loss
Other income (expense), net
(6,265)
Loss before provision for income taxes
$(569,573)
Other significant items:
Total assets
$474,427 $37,940 $512,367 
Inventory
$11,125 $1,071 $12,196 
(a) For each reportable segment, the other segment items category includes:
•Autonomy Solutions - Professional and contracting service expenses, travel expenses, insurance and maintenance expenses, utility expenses, restructuring costs and certain overhead expenses.
•ATS - Professional and contracting service expenses, courier & postage expenses, insurance expenses, facility maintenance & utility expenses, restructuring costs and certain overhead expenses.
Year ended December 31, 2022
Autonomy
Solutions		ATS
Total
Revenue:
Products
$13,509 $4,983 $18,492 
Services
10,844 11,362 22,206 
Intersegment revenue
— 12,485 12,485 
24,353 28,830 53,183 
Reconciliation of revenue
Elimination of intersegment revenue
(12,485)
Total revenue
40,698 
Less:
Depreciation and amortization4,110 2,456 
Impairment of goodwill and intangible assets
— — 
Other segment items (a)
433,251 55,768 
Operating loss
$(413,008)$(29,394)$(442,402)
Reconciliation of profit or loss
Other income (expense), net
(2,865)
Loss before provision for income taxes
$(445,267)
Other significant items:
Total assets
$640,003 $47,324 $687,327 
Inventory
$8,318 $474 $8,792 
(a) For each reportable segment, the other segment items category includes:
•Autonomy Solutions - Professional and contracting service expenses, travel expenses, insurance and maintenance expenses, utility expenses, restructuring costs and certain overhead expenses.
•ATS - Professional and contracting service expenses, courier & postage expenses, insurance expenses, facility maintenance & utility expenses, restructuring costs and certain overhead expenses.
One customer, customer A of the Autonomy Solutions segment, accounted for 39% of the Company’s revenue for the year ended December 31, 2024. Two customers, customer A and customer B of the Autonomy Solutions segment, accounted for 35% and 11%, respectively, of the Company’s revenue for the year ended December 31, 2023. Two customers, customer A and customer B of the Autonomy Solutions segment, accounted for 17% and 21%, respectively, of the Company’s revenue for the year ended December 31, 2022. A vast majority of the Company’s long-lived assets are located in the United States and Mexico.