2.	SEGMENT INFORMATION

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker. The chief operating decision-maker, who is responsible for allocating resources and assessing the performance of the operating segments, has been identified as the Board of Directors. Management has determined the operating segments based on the reports reviewed by the Board of Directors, which are used to make strategic decisions. The Board considers the business from a geographic perspective based on the Group’s management and internal reporting structure. Sales of product between companies in the Group are made on commercial terms which reflect the nature of the relationship between the relevant companies. Segment results, assets and liabilities include items directly attributable to a segment as well as those that can be allocated on a reasonable basis. Unallocated items comprise interest-bearing loans, borrowings and expenses and corporate expenses. Segment capital expenditure is the total cost during the year to acquire segment plant, property and equipment and intangible assets that are expected to be used for more than one period, whether acquired on acquisition of a business combination or through acquisitions as part of the current operations.

The Group comprises two main geographical segments (i) the Americas and (ii) Rest of World - Ireland. The Group’s geographical segments are determined by the location of the Group’s assets and operations. The Group has also presented a geographical analysis of the segmental data for Ireland as is consistent with the information used by the Board of Directors.

The reportable operating segments derive their revenue primarily from one source (i.e., the market for diagnostic tests for a range of diseases and other medical conditions). In determining the nature of its segmentation, the Group has considered the nature of the products, their risks and rewards, the nature of the production base, the customer base and the nature of the regulatory environment. The Group acquires, manufactures and markets a range of diagnostic products. The Group’s products are sold to a similar customer base and the main body whose regulation the Group’s products must comply with is the Food and Drug Administration (“FDA”) in the US.

The following presents revenue and profit information and certain asset and liability information regarding the Group’s geographical segments.

i)	The distribution of revenue by geographical area based on location of assets was as follows:

Revenue	Americas		Rest of World Ireland		Eliminations			Total
Year ended December 31, 2022	US$‘000		US$‘000		US$’000			US$‘000
Revenue from external customers		50,508		24,271		-			74,779
Inter-segment revenue		26,110		828		(26,938	)		-

Total revenue		76,618		25,099		(26,938	)		74,779

Revenue	Americas		Rest of World Ireland		Eliminations			Total
Year ended December 31, 2021	US$‘000		US$‘000		US$’000			US$‘000
Revenue from external customers		67,249		25,716		-			92,965
Inter-segment revenue		49,059		2,517		(51,576	)		-

Total revenue		116,308		28,233		(51,576	)		92,965

Revenue	Americas		Rest of World Ireland		Eliminations			Total
Year ended December 31, 2020	US$‘000		US$‘000		US$’000			US$‘000
Revenue from external customers		77,688		24,292		-			101,980
Inter-segment revenue		59,304		1,095		(60,399	)		-

Total revenue		136,992		25,387		(60,399	)		101,980

ii)	The distribution of revenue by customers’ geographical area was as follows:

Revenue	December 31, 2022 US$‘000		December 31, 2021 US$‘000		December 31, 2020 US$‘000
Americas		40,176		57,799		70,408
Asia / Africa		25,022		25,504		22,567
Europe (including Ireland) *		9,581		9,662		9,005

		74,779		92,965		101,980

Revenue from customers in Ireland is not disclosed separately due to the immateriality of these revenues.

iii)	The distribution of revenue by major product group was as follows:

Revenue	December 31, 2022 US$‘000		December 31, 2021 US$‘000		December 31, 2020 US$‘000
Clinical laboratory goods		58,294		74,700		84,280
Clinical laboratory services		7,272		7,928		8,485
Point-of-Care		9,213		10,337		9,215

		74,779		92,965		101,980

iv)	The group has recognised the following amounts relating to revenue in the consolidated statement of operations:

Revenue	December 31, 2022 US$‘000		December 31, 2021 US$‘000		December 31, 2020 US$‘000
Revenue from contracts with customers (a)		74,779		92,965		101,980

		74,779		92,965		101,980

(v)

Disaggregation of revenue from contracts with customers:

The Group derives revenue from the transfer of goods and services over time and at a point in time in the following geographical areas:

Timing of revenue recognition	Americas		Rest of World Ireland		Rest of World Other		Total
Year ended December 31, 2022	US$‘000		US$‘000		US$‘000		US$‘000
At a point in time		50,174		24,271		-		74,445
Over time		334		-		-		334

Total		50,508		24,271		-		74,779

Timing of revenue recognition	Americas		Rest of World Ireland		Rest of World Other		Total
Year ended December 31, 2021	US$‘000		US$‘000		US$‘000		US$‘000
At a point in time		66,806		25,716		-		92,522
Over time		443		-		-		443

Total		67,249		25,716		-		92,965

Timing of revenue recognition	Americas		Rest of World Ireland		Rest of World Other		Total
Year ended December 31, 2020	US$‘000		US$‘000		US$‘000		US$‘000
At a point in time		77,060		24,292		-		101,352
Over time		628		-		-		628

Total		77,688		24,292		-		101,980

(vi)

The Group derives revenue from the transfer of goods and services over time and at a point in time based on customers’ geographical area as follows:

Timing of revenue recognition	Americas		Asia / Africa		Europe		Total
Year ended December 31, 2022	US$‘000		US$‘000		US$‘000		US$‘000
At a point in time		39,842		25,022		9,581		74,445
Over time		334		-		-		334

Total		40,176		25,022		9,581		74,779

Timing of revenue recognition	Americas		Asia / Africa		Europe		Total
Year ended December 31, 2021	US$‘000		US$‘000		US$‘000		US$‘000
At a point in time		57,356		25,504		9,662		92,522
Over time		443		-		-		443

Total		57,799		25,504		9,662		92,965

Timing of revenue recognition	Americas		Asia / Africa		Europe		Total
Year ended December 31, 2020	US$‘000		US$‘000		US$‘000		US$‘000
At a point in time		69,780		22,567		9,005		101,352
Over time		628		-		-		628

Total		70,408		22,567		9,005		101,980

vii)	The distribution of segment results by geographical area was as follows:

				Rest of World
	Americas			Ireland			Other			Total
Year ended December 31, 2022	US$‘000			US$‘000			US$‘000			US$‘000
Result before impairment and unallocated expenses		(5,891	)		(2,516	)		(33	)		(8,440	)
Impairment charges		(2,331	)		(3,508	)		-			(5,839	)

Result after impairment		(8,222	)		(6,024	)		(33	)		(14,279	)
Unallocated expenses *											(2,473	)

Operating loss											(16,752	)
Net financing expense (Note 6)											(24,442	)

Loss before tax											(41,194	)
Income tax credit (Note 7)											192

Loss for the year on continuing operations											(41,002	)
Loss for the year on discontinued operations (Note 8)											(7	)

Loss for the year											(41,009	)

				Rest of World
	Americas			Ireland			Other			Total
Year ended December 31, 2021	US$‘000			US$‘000			US$‘000			US$‘000
Result before impairment and unallocated expenses		9,276			5,084			(12	)		14,348
Impairment charges		(6,088	)		(856	)		-			(6,944	)

Result after impairment		3,188			4,228			(12	)		7,404
Unallocated expenses *											(779	)

Operating profit											6,625
Net financing expense (Note 6)											(5,874	)

Profit before tax											751
Income tax credit (Note 7)											178

Profit for the year on continuing operations											929
Loss for the year on discontinued operations (Note 8)											(54	)

Profit for the year											875

				Rest of World
	Americas			Ireland		Other			Total
Year ended December 31, 2020	US$‘000			US$‘000		US$‘000			US$‘000
Result before impairment and unallocated expenses		14,495			4,264		(71	)		18,688
Impairment		(17,779	)		-		-			(17,779	)

Result after impairment		(3,284	)		4,264		(71	)		909
Unallocated expenses *										(827	)

Operating profit										82
Net financing expense (Note 6)										(6,715	)

Loss before tax										(6,633	)
Income tax credit (Note 7)										620

Loss for the year on continuing operations										(6,013	)
Loss for the year on discontinued operations (Note 8)										(375	)

Loss for the year										(6,388	)

Unallocated expenses represent head office general and administration costs of the Group, which cannot be allocated to the results of any specific geographical area.

viii)

The distribution of segment assets and segment liabilities by geographical area was as follows:

Rest of World

Americas

Ireland

Other

Total

As at December 31, 2022

US$‘000

Assets and liabilities

Segment assets

41,779

37,695

79,474

Unallocated assets:

Income tax assets (current and deferred)

6,052

Cash and cash equivalents and short-term investments

6,578

Total assets as reported in the Group balance sheet

92,104

Segment liabilities

58,307

30,845

89,194

Unallocated liabilities:

Income tax liabilities (current and deferred)

5,086

Total liabilities as reported in the Group balance sheet

94,280

Rest of World

Americas

Ireland

Other

Total

As at December 31, 2021

US$‘000

Assets and liabilities

Segment assets

45,891

41,453

87,345

Unallocated assets:

Income tax assets (current and deferred)

5,640

Cash and cash equivalents and short-term investments

25,910

Total assets as reported in the Group balance sheet

118,895

Segment liabilities

12,382

101,927

114,334

Unallocated liabilities:

Income tax liabilities (current and deferred)

4,880

Total liabilities as reported in the Group balance sheet

119,214

ix)	The distribution of long-lived assets, which are property, plant and equipment, goodwill and intangible assets and other non-current assets (excluding deferred tax assets and derivative financial instruments), by geographical area was as follows:

	December 31, 2022 US$‘000		December 31, 2021 US$‘000
Rest of World – Ireland		21,180		22,617
Americas		19,910		19,489

		41,090		42,106

x)	The distribution of depreciation and amortisation by geographical area was as follows:

	December 31, 2022 US$‘000		December 31, 2021 US$‘000		December 31, 2020 US$‘000
Depreciation:
Rest of World – Ireland		128		204		127
Americas		1,282		1,662		1,587

		1,410		1,866		1,714

Amortisation:
Rest of World – Ireland		123		69		32
Americas		800		848		1,371

		923		917		1,403

xi)	The distribution of share-based payment expense by geographical area was as follows:

	December 31, 2022 US$‘000		December 31, 2021 US$‘000		December 31, 2020 US$‘000
Rest of World – Ireland		632		1,072		722
Americas		1,123		28		70

		1,755		1,100		792

See Note 19 for further information on share-based payments.

xii)	The distribution of taxation (expense)/credit by geographical area was as follows:

	December 31, 2022 US$‘000			December 31, 2021 US$‘000			December 31, 2020 US$‘000
Rest of World – Ireland		284			540			293
Rest of World – Other		(4	)		(2	)		(8	)
Americas		(88	)		(360	)		335

		192			178			620

xiii)

During 2022 and 2020 there were no customers generating 10% or more of total revenues. In 2021, one customer accounted for more than 10% of total revenues.

xiv)	The distribution of capital expenditure by geographical area was as follows:

	December 31 2022 US$‘000		December 31, 2021 US$‘000
Rest of World – Ireland		2,443		3,826
Rest of World – Other		-		-
Americas		4,370		4,776

		6,813		8,602