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Segment Reporting | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Segment Reporting | 15. Segment Reporting Operating segments are components of an enterprise that engage in business activities for which discrete financial information is available and regularly reviewed by the Chief Operating Decision Maker (the “CODM”) in deciding how to allocate resources and assess performance. The Company’s CEO has been identified as the CODM. The Company views its operations, makes decisions regarding how to allocate resources and manages its business as one reportable segment and one reporting unit. Net income or net loss as reported on the condensed consolidated statements of comprehensive income is the measure of segment profit or loss used by the CODM in allocating resources and assessing performance. Total assets for the operating segment is the amount presented on the condensed consolidated balance sheets. The following table represents the Company’s total revenue by customers’ geographic locations:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Revenue by customers' geographic locations: |  |  |  |  |  |  |  |  |  |  |  |
North America |  |  | 51 | % |  |  | 51 | % |  |  | 50 | % |  |  | 50 | %
Europe |  |  | 30 | % |  |  | 33 | % |  |  | 33 | % |  |  | 35 | %
APAC/Other |  |  | 19 | % |  |  | 16 | % |  |  | 17 | % |  |  | 15 | %
Total revenue |  |  | 100 | % |  |  | 100 | % |  |  | 100 | % |  |  | 100 | %
The following table presents the Company’s significant segment expenses which are regularly provided to the CODM for the single reportable segment:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
|  | (Amounts in thousands) |
Total revenue |  | $ | 188,805 |  |  | $ | 154,871 |  |  | $ | 540,343 |  |  | $ | 466,892 |
Costs and operating expenses: |  |  |  |  |  |  |  |  |  |  |  |
Cost of goods sold |  |  | 88,290 |  |  |  | 77,383 |  |  |  | 257,929 |  |  |  | 231,088 |
Research and development |  |  | 14,175 |  |  |  | 9,710 |  |  |  | 41,057 |  |  |  | 31,523 |
Sales and marketing |  |  | 26,873 |  |  |  | 20,656 |  |  |  | 77,495 |  |  |  | 68,868 |
General and administrative |  |  | 42,642 |  |  |  | 54,954 |  |  |  | 126,563 |  |  |  | 134,026 |
Total costs and operating expenses |  |  | 171,980 |  |  |  | 162,703 |  |  |  | 503,044 |  |  |  | 465,505 |
Other income, net |  |  | 287 |  |  |  | 6,683 |  |  |  | 5,971 |  |  |  | 10,186 |
Income tax provision (benefit) |  |  | 2,201 |  |  |  | (495 | ) |  |  | 7,663 |  |  |  | 3,218 |
Net income (loss) |  | $ | 14,911 |  |  | $ | (654 | ) |  | $ | 35,607 |  |  | $ | 8,355 |
Concentrations of Credit Risk and Significant Customers Financial instruments that subject the Company to significant concentrations of credit risk primarily consist of cash and cash equivalents, marketable securities, accounts receivable, and foreign exchange forward contracts. Per the Company’s investment policy, cash equivalents and marketable securities are invested in financial instruments with high credit ratings. Additionally, the policy limits the credit exposure to any one issuer (with the exception of U.S. treasury obligations) and the types of instruments held. As of September 30, 2025 and December 31, 2024, the Company had no investments associated with foreign exchange contracts or options contracts. The Company uses derivative financial instruments to manage exposure to foreign exchange risk on certain repayable intercompany loans with foreign subsidiaries, specifically foreign exchange forward contracts. No such instruments are outstanding as of September 30, 2025. Concentration of credit risk with respect to accounts receivable is limited to customers to whom the Company makes significant sales. While a reserve for the potential write-off of accounts receivable is maintained, the Company has not written off any significant accounts to date. To control credit risk, the Company performs regular credit evaluations of its customers’ financial condition. No customers represented 10% or more of the Company's total revenue for each of the three and nine months ended September 30, 2025 and 2024. No customers represented 10% or more of the Company's total trade accounts receivable at September 30, 2025 and December 31, 2024.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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