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Segment Information
12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment Information

Note 22. Segment Information

The Company has three reportable segments. Prior to the Business Combination, GWW operated as two operating segments but aggregated its results into one reportable segment based on similarity in economic characteristics, other qualitative factors and the objectives and principals of ASC 280, Segment Reporting.

The following data presents the revenues, expenditures and other operating data of the Company’s operating segments for the years ended December 31, 2023 and 2022 (in thousands):

 

Year Ended December 31, 2023

 

 

Year Ended December 31, 2022

 

Description

 

Precision Electronic Solutions

 

 

Power Electronics & Display

 

 

RF Solutions

 

 

Total

 

 

Precision Electronic Solutions

 

 

Power Electronics & Display

 

 

RF Solutions

 

 

Total

 

Revenue

 

$

19,592

 

 

$

10,039

 

 

$

8,195

 

 

$

37,826

 

 

$

13,950

 

 

$

10,175

 

 

$

6,130

 

 

$

30,255

 

Cost of revenue

 

 

15,401

 

 

 

6,791

 

 

 

5,886

 

 

 

28,078

 

 

 

10,632

 

 

 

6,651

 

 

 

4,497

 

 

 

21,780

 

Gross profit

 

 

4,191

 

 

 

3,248

 

 

 

2,309

 

 

 

9,748

 

 

 

3,318

 

 

 

3,524

 

 

 

1,633

 

 

 

8,475

 

Operating expenses

 

 

9,196

 

 

 

4,453

 

 

 

3,950

 

 

 

17,599

 

 

 

6,686

 

 

 

4,022

 

 

 

3,684

 

 

 

14,392

 

Impairment of goodwill

 

 

 

 

 

 

 

 

3,172

 

 

 

3,172

 

 

 

10,459

 

 

 

 

 

 

 

 

 

10,459

 

Impairment of intangibles

 

 

 

 

 

 

 

 

1,525

 

 

 

1,525

 

 

 

 

 

 

 

 

 

 

 

 

 

Other (expense) income, net

 

 

(1,218

)

 

 

(392

)

 

 

(873

)

 

 

(2,483

)

 

 

(1,781

)

 

 

(26

)

 

 

(358

)

 

 

(2,165

)

Loss from continuing operations before income taxes

 

$

(6,223

)

 

$

(1,597

)

 

$

(7,211

)

 

$

(15,031

)

 

$

(15,608

)

 

$

(524

)

 

$

(2,409

)

 

$

(18,541

)

Assets (at period end)

 

$

18,931

 

 

$

7,862

 

 

$

5,139

 

 

$

31,932

 

 

$

20,076

 

 

$

8,316

 

 

$

10,562

 

 

$

38,954