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Segment Information
3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company operates in two reportable segments consisting of the Laser Products segment and the Advanced Development segment. The following table summarizes the operating results by reportable segment for the periods presented (dollars in thousands):
Three Months Ended March 31, 2021
Laser ProductsAdvanced DevelopmentCorporate and OtherTotals
Revenue$47,335 $14,010 $— $61,345 
Gross profit$17,431 $705 $(491)$17,645 
Gross margin36.8 %5.0 %NM28.8 %
Three Months Ended March 31, 2020
Laser ProductsAdvanced DevelopmentCorporate and OtherTotals
Revenue$36,930 $6,285 $— $43,215 
Gross profit$9,375 $471 $(345)$9,501 
Gross margin25.4 %7.5 %NM22.0 %

Corporate and Other is unallocated expenses related to stock-based compensation.

There have been no material changes to the geographic locations of the Company’s long‑lived assets, net, based on the location of the assets, as disclosed in our Annual Report on Form 10-K for the year ended December 31, 2020.