Segment and Geographic Information |
9 Months Ended |
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Sep. 30, 2025 | |
| Segment Reporting [Abstract] | |
| Segment and Geographic Information | Segment and Geographic Information Segment Information
Operating segments are defined as components of an enterprise that engage in business activities for which discrete financial information is available that is evaluated regularly by the chief operating decision makers (“CODM”) and is used in resource allocation and performance assessments. The Company has identified one operating and reportable segment - Medical, as our co-Chief Executive Officers, who are our CODMs, regularly review discrete information for that reportable segment. The Company’s CODMs evaluate the Company’s financial information and resources and assess the performance of these resources on a consolidated basis. The measure of segment profit or loss for the Company’s single segment is net income (loss), which can be found in the condensed consolidated statement of operations. The Company manages its operations on an integrated basis, focusing on optimizing performance and directing investments to support continued growth across the business. The Company does not allocate assets at the reportable segment level as these are managed on an entity wide group basis and, accordingly, the Company does not report asset information by segments.
Prior to the completion of the sale of the Company’s Passenger business on August 29, 2025, the Company operated two reportable segments: (i) Passenger and (ii) Medical. The Passenger segment consisted of the Company’s short-distance air transportation and related ground services business, which was sold to Joby Aero, Inc. on August 29, 2025. Following the sale, the Passenger segment is part of discontinued operations in accordance with ASC 205-20, Presentation of Financial Statements—Discontinued Operations, and is no longer included in segment results.
Subsequent to the sale, the Company’s continuing operations consist of a single reportable segment, Medical, which provides air and ground logistics, surgical organ recovery, organ placement and normothermic regional perfusion for the
transplant industry, as well as perfusion staffing and equipment solutions for cardiovascular surgery centers. The Company’s Co-Chief Executive Officers serve as the CODMs and regularly review financial information for this consolidated Medical business to allocate resources and assess performance. Accordingly, beginning with the quarter ended September 30, 2025, the Company reports a single operating and reportable segment, Medical.
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