| Segment Reporting |
17. Segment Reporting
In accordance with FASB ASC 280, “Segment Reporting,” the Company discloses financial and descriptive information about its reportable segments. The Company operates in two segments, iBio, Inc. and iBio CDMO. These segments are components of the Company about which separate financial information is available and regularly evaluated by the chief operating decision maker in deciding how to allocate resources and in assessing performance. Please note that certain totals may not sum due to rounding.
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Three Months Ended December 31, 2019 (in thousands)
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iBio, Inc.
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iBio CDMO
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Eliminations
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Total
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Revenues – external customers
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$
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242
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$
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72
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$
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—
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$
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314
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Revenues – intersegment
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184
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331
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(515)
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—
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Research and development
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376
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884
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(372)
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888
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General and administrative
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1,027
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1,697
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(143)
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2,581
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Operating loss
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(977)
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(2,178)
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—
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(3,155)
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Interest expense
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—
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(615)
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—
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(615)
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Interest and other income
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5
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1
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—
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6
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Consolidated net loss
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(972)
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(2,792)
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—
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(3,764)
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Total assets
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41,959
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32,089
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(37,664)
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36,384
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Finance lease ROU assets
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—
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28,446
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—
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28,446
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Fixed assets, net
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1
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2,657
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—
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2,658
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Intangible assets, net
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1,249
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—
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—
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1,249
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Amortization of ROU assets
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—
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415
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—
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415
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Depreciation expense
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2
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70
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—
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72
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Amortization of intangible assets
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|
76
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—
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—
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76
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Three Months Ended December 31, 2018 (in thousands)
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iBio, Inc.
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iBio CDMO
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Eliminations
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Total
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Revenues – external customers
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$
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651
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$
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—
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$
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—
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$
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651
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Revenues – intersegment
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400
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696
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(1,096)
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—
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Research and development
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1,541
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535
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(803)
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1,273
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General and administrative
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1,202
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2,483
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(292)
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3,393
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Operating loss
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(1,692)
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(2,323)
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—
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(4,015)
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Interest expense
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—
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(476)
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—
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(476)
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Interest and other income
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17
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4
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—
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21
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Consolidated net loss
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(1,675)
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(2,795)
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—
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(4,470)
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Total assets
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40,770
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12,676
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(13,143)
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40,303
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Fixed assets, net
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3
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24,809
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—
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24,812
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Intangible assets, net
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1,498
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—
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—
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1,498
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Depreciation expense
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—
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364
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—
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364
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Amortization of intangible assets
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68
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—
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—
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68
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Six Months Ended December 31, 2019 (in thousands)
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iBio, Inc.
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iBio CDMO
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Eliminations
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Total
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Revenues – external customers
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$
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350
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$
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72
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$
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—
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$
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422
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Revenues – intersegment
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426
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|
492
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(918)
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—
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Research and development
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|
658
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1,709
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(502)
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1,865
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General and administrative
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2,230
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3,753
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(416)
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5,567
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Operating loss
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(2,112)
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(4,898)
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—
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(7,010)
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Interest expense
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—
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(1,235)
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—
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(1,235)
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Interest and other income
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16
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1
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—
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17
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Consolidated net loss
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(2,096)
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(6,132)
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—
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(8,228)
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Total assets
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41,959
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32,089
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(37,664)
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36,384
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Finance lease ROU assets
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—
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28,446
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28,446
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Fixed assets, net
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1
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2,657
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—
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2,658
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Intangible assets, net
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1,249
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—
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—
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1,249
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Amortization of ROU assets
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—
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830
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830
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Depreciation expense
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2
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135
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—
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|
137
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Amortization of intangible assets
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153
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—
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—
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153
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Six Months Ended December 31, 2018 (in thousands)
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iBio, Inc.
|
|
iBio CDMO
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Eliminations
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Total
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Revenues - external customers
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$
|
696
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$
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—
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$
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—
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$
|
696
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Revenues – intersegment
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764
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753
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(1,517)
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—
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Research and development
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2,099
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1,122
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(824)
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2,397
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General and administrative
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2,239
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4,717
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(692)
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6,264
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Operating loss
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(2,878)
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(5,087)
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—
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(7,965)
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Interest expense
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—
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(952)
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—
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(952)
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Interest and other income
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40
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8
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—
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48
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Consolidated net loss
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(2,838)
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(6,031)
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—
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(8,869)
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Total assets
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40,770
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12,676
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(13,143)
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40,303
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Fixed assets, net
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3
|
|
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24,809
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—
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|
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24,812
|
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Intangible assets, net
|
|
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1,498
|
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—
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|
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—
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1,498
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Depreciation expense
|
|
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1
|
|
|
723
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—
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|
724
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Amortization of intangible assets
|
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|
151
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—
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—
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151
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