Segment Information

6 Months Ended

Mar. 31, 2024

Segment Information

Segment Information

14.          Segment Information

The following tables present certain operating segment information for the three and six months ended March 31, 2024 and 2023.

			Technology Solutions Segment
	High
	Performance
	Products		United						Consolidated
Three months ended March 31,	Segment		Kingdom		U.S.		Total		Total
	(Amounts in thousands)
2024
Sales:
Product	$	2,043	$	61	$	6,354	$	6,415	$	8,458
Service		459		60		4,729		4,789		5,248
Total sales	$	2,502	$	121	$	11,083	$	11,204	$	13,706
Operating income (loss)	$	266	$	(56)	$	1,024	$	968	$	1,234
Interest expense	$	(3)	$	—	$	(43)	$	(43)	$	(46)
Interest income	$	6	$	54	$	418	$	472	$	478
Total assets	$	11,599	$	7,581	$	45,020	$	52,601	$	64,200
Capital expenditures	$	(12)	$	—	$	(2)	$	(2)	$	(14)
Depreciation and amortization	$	(25)	$	—	$	(50)	$	(50)	$	(75)
2023
Sales:
Product	$	972	$	175	$	7,841	$	8,016	$	8,988
Service		504		92		3,685		3,777		4,281
Total sales	$	1,476	$	267	$	11,526	$	11,793	$	13,269
Operating (loss) income	$	(693)	$	(10)	$	940	$	930	$	237
Interest expense	$	(3)	$	—	$	(59)	$	(59)	$	(62)
Interest income	$	7	$	44	$	274	$	318	$	325
Total assets	$	8,695	$	6,930	$	50,399	$	57,329	$	66,024
Capital expenditures	$	(24)	$	—	$	(113)	$	(113)	$	(137)
Depreciation and amortization	$	(27)	$	—	$	(61)	$	(61)	$	(88)

			Technology Solutions Segment
	High
	Performance
	Products		United						Consolidated
Six months ended March 31,	Segment		Kingdom		U.S.		Total		Total
	(Amounts in thousands)
2024
Sales:
Product	$	2,515	$	373	$	16,977	$	17,350	$	19,865
Service		699		129		8,388		8,517		9,216
Total sales	$	3,214	$	502	$	25,365	$	25,867	$	29,081
Operating (loss) income	$	(1,079)	$	(53)	$	2,023	$	1,970	$	891
Interest expense	$	(7)	$	—	$	(88)	$	(88)	$	(95)
Interest income	$	12	$	108	$	854	$	962	$	974
Total assets	$	11,599	$	7,581	$	45,020	$	52,601	$	64,200
Capital expenditures	$	(118)	$	—	$	(16)	$	(16)	$	(134)
Depreciation and amortization	$	(53)	$	—	$	(101)	$	(101)	$	(154)
2023
Sales:
Product	$	3,134	$	366	$	19,709	$	20,075	$	23,209
Service		831		179		7,394		7,573		8,404
Total sales	$	3,965	$	545	$	27,103	$	27,648	$	31,613
Operating (loss) income	$	(791)	$	4	$	2,388	$	2,392	$	1,601
Interest expense	$	(6)	$	—	$	(120)	$	(120)	$	(126)
Interest income	$	8	$	79	$	499	$	578	$	586
Total assets	$	8,695	$	6,930	$	50,399	$	57,329	$	66,024
Capital expenditures	$	(40)	$	—	$	(141)	$	(141)	$	(181)
Depreciation and amortization	$	(56)	$	—	$	(121)	$	(121)	$	(177)

Operating income (loss) consists of sales less cost of sales, engineering and development expenses, and selling, general and administrative expenses but is not affected by either other income (expense) or by income tax expense (benefit). Non-operating expenses/income consists principally of interest income from transactions with payment terms exceeding one year (see Note 5 Financing receivables, net for details) and interest income from money market accounts in fiscal year 2024 year as interest rates have increased significantly, and interest expense primarily from multi-year agreements with vendors (see Note 8 Accounts payable and other noncurrent liabilities). All intercompany transactions have been eliminated.

The following table lists customers from which the Company derived revenues of 10% or more of total revenues for the three and six months ended March 31, 2024 and 2023.

	Three months ended March 31,								Six months ended March 31,
	2024				2023				2024				2023
	(Amounts in millions)								(Amounts in millions)
	Customer		% of Total		Customer		% of Total		Customer		% of Total		Customer		% of Total
	Revenues		Revenues		Revenues		Revenues		Revenues		Revenues		Revenues		Revenues
	(Amounts in millions)
Customer A	$	2.1	15	%	$	—	-	%	$	2.1	7	%	$	—	-	%
Customer B	$	0.1	1	%	$	1.3	10	%	$	0.6	2	%	$	1.8	6	%

Customer A above as of March 31, 2024 had a balance of $2.4 million, or 19%, of accounts receivable. One customer not listed above as of March 31, 2024 had a balance of $6.4 million, or 50%, of accounts receivable. There was no other customer with 10% or more of accounts receivable as of March 31, 2024. There was no customer with 10% or more of accounts receivable as of September 30, 2023.

A customer not listed above had a balance of $5.7 million, or 58%, of financing receivables, net and $7.4 million, or 65%, as of March 31, 2024 and September 30, 2023, respectively. A customer not listed above had a balance of $2.2 million, or 22%, of financing receivables, net and $2.5 million, or 22%, as of March 31, 2024 and September 30, 2023,

respectively. A customer not listed above had a balance of $1.3 million, or 13%, of financing receivables and $1.5 million, or 13%, as of March 31, 2024 and September 30, 2023, respectively. There was no other customer with 10% or more of financing receivables, net as of March 31, 2024 or September 30, 2023.