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SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION

 

11. SEGMENT INFORMATION

 

The Company operates as a single operating segment. The Company's chief operating decision maker ("CODM") is its chief executive officer and chief financial officer who review financial information. The CODM uses total operating expense, operating margin and related impact on cash consumption to assess financial performance and allocate resources. These financial metrics are used by the CODM to make key operating decisions, such as the determination of the overall headcount, allocation of headcount, research and development expenditures, licensing and royalty rates offered to customers and capital expenditure commitments. The measure of assets is reported on the accompanying condensed balance sheets as total assets.

 

The following table presents selected financial information with respect to the Company’s single operating segment for the three and six months ended June 30, 2025 and 2024:

 

                    
  

Three Months Ended

June 30,

  

Six Months Ended

June 30,

 
   2025   2024   2025   2024 
Revenue  $–   $72   $4   $90 
Less expenses (1):                    
Employee related expenses   1,516    1,384    3,303    3,207 
Stock-based compensation   1,278    987    2,287    2,011 
Tool related expenses   611    626    1,222    1,251 
Consulting expenses   107    225    256    391 
Metrology and other outsourced research expenses   441    254    902    449 
Intellectual property related expenses   302    380    653    573 
Other operating items(2)   1,000    846    2,099    1,872 
Operating margin   (5,255)   (4,630)   (10,718)   (9,664)
Other income (expense), net   288    269    542    481 
Net loss  $(4,967)  $(4,361)  $(10,176)  $(9,183)

 

(1)

Expenses classified as cost of revenue are included in the line items presented and not as a separate category.

 

(2)

Other operating expenses include items not listed above separately. These include travel and entertainment, professional development, information technology costs, office related costs, depreciation, other research and development costs, other sales and marketing costs and other general and administrative costs.