Stablecoin Development Corp Segments Disclosure
NOTE 20. SEGMENT REPORTING
The Company’s CODM, who is the Company’s Chief Executive Officer, allocates resources and assesses performance based on financial information of the Company. The CODM reviews financial information presented for each reportable segment for purposes of making operating decisions and assessing financial performance.
The Company is managed in segments and aggregates its operational and financial information accordingly: (1) Eyecare & Wound Care and (2) Skincare. The Eyecare & Wound Care segment consists primarily of eyecare products sold under the Avenova brand name as well as wound care products sold under the NeutroPhase and PhaseOne brands. The Skincare segment consists of products sold under the DERMAdoctor brand. Subsequent to December 31, 2023, on March 25, 2024, we closed the DERMAdoctor Divestiture, resulting in the sale of all of our Skincare segment. See additional information in Note 21, “Subsequent Events”.
Select financial information for each segment is as follows (in thousands):
| Year | Year | |||||||||||||||
| Ended | Ended | |||||||||||||||
| December 31, | Percentage | December 31, | Percentage | |||||||||||||
| 2023 | of Total | 2022 | of Total | |||||||||||||
| Eyecare & Wound Care | $ | 11,174 | 76 | % | $ | 10,239 | 71 | % | ||||||||
| Skincare | 3,552 | 24 | % | 4,165 | 29 | % | ||||||||||
| Total sales, net | $ | 14,726 | 100 | % | $ | 14,404 | 100 | % | ||||||||
| Eyecare & Wound Care | $ | 3,650 | 48 | % | $ | 5,645 | 39 | % | ||||||||
| Skincare | 3,946 | 52 | % | 8,772 | 61 | % | ||||||||||
| Total operating loss | $ | 7,596 | 100 | % | $ | 14,417 | 100 | % | ||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2023 | Mar 26, 2024 | Showing above |
| 2022 | Mar 31, 2023 | |
| 2021 | Mar 29, 2022 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.