MESA LABORATORIES INC /CO/ Segments Disclosure

Note 14. Segment Data

 

Segment information is prepared on the same basis that our chief operating decision maker, our CEO, uses to assess performance, allocate resources, evaluate financial results, and make key operating decisions. Our four reportable segments are organized primarily by the nature of the goods and services they sell. Our CODM regularly reviews segment-level U.S. GAAP revenues and gross profit relative to forecasted and prior period amounts, as well as non-GAAP adjusted operating expense compared to budgeted amounts. Our CODM also reviews non-GAAP organic revenues growth and non-GAAP adjusted operating income to support strategic planning and resource development. The accounting policies of our operating segments are the same as those described in Note 1. "Description of Business and Summary of Significant Accounting Policies.

 

Effective April 13, 2026, Dr. Siddhartha Kadia began his tenure as Mesa’s CEO and CODM. The presentation of segment information below is consistent with the manner in which our segments were evaluated and operated throughout fiscal year 2026.

 

The following tables set forth our segment information:

 

		Sterilization and Disinfection Control (d)				Biopharmaceutical Development				Calibration Solutions				Clinical Genomics				Corporate and Other (e)				Total Company
Year Ended March 31, 2026
Revenues (a)		$	101,567			$	48,626			$	53,551			$	45,386			$	-			$	249,130
Less:
Depreciation in cost of revenues			1,779				308				448				578				-				3,113
Amortization in cost of revenues			526				1,512				-				765				-				2,803
Other cost of revenues (b)			27,555				18,253				21,121				18,015				-				84,944
Total segment cost of revenues			29,860				20,073				21,569				19,358				-				90,860
Gross Profit (c)		$	71,707			$	28,553			$	31,982			$	26,028			$	-			$	158,270
Reconciling items:
Operating expense																						$	139,759
Operating income																							18,511
Nonoperating expense, net																							6,497
Earnings before income taxes																						$	12,014
Year Ended March 31, 2025
Revenues (a)		$	93,418			$	48,730			$	51,749			$	47,081			$	-			$	240,978
Less:
Depreciation in cost of revenues			1,419				224				837				680				-				3,160
Amortization in cost of revenues			503				1,373				-				765				-				2,641
Non-cash GKE inventory step-up amortization			1,232				-				-				-				-				1,232
Other cost of revenues (b)			25,604				17,220				20,275				19,966				10				83,075
Total segment cost of revenues			28,758				18,817				21,112				21,411				10				90,108
Gross Profit (c)		$	64,660			$	29,913			$	30,637			$	25,670			$	(10	)		$	150,870
Reconciling items:
Operating expense																						$	134,534
Operating income																							16,336
Nonoperating expense, net																							10,375
Earnings before income taxes																						$	5,961
Year Ended March 31, 2024
Revenues (a)		$	75,124			$	40,712			$	47,763			$	52,588			$	-			$	216,187
Less:
Depreciation in cost of revenues			1,204				224				666				937				-				3,031
Amortization in cost of revenues			266				1,338				-				4,448				-				6,052
Non-cash GKE inventory step-up amortization			1,229				-				-				-				-				1,229
Other cost of revenues (b)			19,123				13,750				19,550				20,125				77				72,625
Total segment cost of revenues			21,822				15,312				20,216				25,510				77				82,937
Gross Profit (c)		$	53,302			$	25,400			$	27,547			$	27,078			$	(77	)		$	133,250
Reconciling items:
Operating expense																						$	405,325
Operating (loss)																							(272,075	)
Nonoperating expense, net																							3,573
(Loss) before income taxes																						$	(275,648	)

 

	(a)	Intersegment revenues are eliminated to arrive at consolidated totals. Revenues as presented are consistent with GAAP measurement principles and our CODM's review of segment information.
	(b)	Other segment cost of revenues for each reportable segment includes product costs, personnel costs (including stock-based compensation), and other manufacturing and overhead costs necessary to produce and sell our products and services, excluding depreciation, amortization, and non-cash inventory step-up amortization expenses.
	(c)	Gross profit as presented is consistent with GAAP measurement principles and our CODM's review of segment information.
	(d)	Includes GKE results beginning upon acquisition in fiscal year 2024.
	(e)	Unallocated corporate expenses and other business activities are reported within Corporate and Other. Certain depreciation expense classified reflected in Corporate and Other in fiscal years 2024 and 2023 has been recast to conform to current year presentation.

 

 

The following table sets forth inventories by reportable segment. Our CODM is not provided with any other segment asset information. 

 

		March 31,				March 31,
		2026				2025
Sterilization and Disinfection Control		$	5,943			$	5,545
Biopharmaceutical Development			6,512				4,934
Calibration Solutions			5,603				5,110
Clinical Genomics			8,315				9,776
Total inventories		$	26,373			$	25,365

 

The following table sets forth a summary of long-lived assets by geographic area. Long-lived assets exclude goodwill and intangible assets acquired in a business combination, deferred tax assets and other non-tangible assets. 

 

		March 31,				March 31,
		2026				2025
United States		$	29,893			$	29,200
Sweden			10,858				11,634
Germany			5,955				6,712
Other			1,213				1,169
Total long-lived assets		$	47,919			$	48,715

 

Revenues from external customers are attributed to individual countries based upon the location to which the product is shipped or exported, as follows:

 

		Year Ended March 31,
		2026				2025				2024
United States		$	116,895			$	116,615			$	106,395
China			20,449				25,312				24,933
Other			111,786				99,051				84,859
Total revenues		$	249,130			$	240,978			$	216,187

 

No customer accounts for 10% or more of our consolidated revenues. No foreign country exceeds 10% of total revenues.