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Segment Information
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
We operate 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 (dollars in thousands):
Three Months Ended September 30, 2024
Laser ProductsAdvanced DevelopmentCorporate and OtherTotals
Revenue$41,132 $14,997 $— $56,129 
Gross profit$12,475 $704 $(629)$12,550 
Gross margin30.3 %4.7 %NM*22.4 %
Nine Months Ended September 30, 2024
Laser ProductsAdvanced DevelopmentCorporate and OtherTotals
Revenue$104,960 $46,207 $— $151,167 
Gross profit$30,261 $3,456 $(1,829)$31,888 
Gross margin28.8 %7.5 %NM*21.1 %
Three Months Ended September 30, 2023
Laser ProductsAdvanced DevelopmentCorporate and OtherTotals
Revenue$38,103 $12,531 $— $50,634 
Gross profit$9,596 $850 $(508)$9,938 
Gross margin25.2 %6.8 %NM*19.6 %
Nine Months Ended September 30, 2023
Laser ProductsAdvanced DevelopmentCorporate and OtherTotals
Revenue$118,802 $39,227 $— $158,029 
Gross profit$35,860 $2,320 $(1,871)$36,309 
Gross margin30.2 %5.9 %NM*23.0 %
*Not meaningful

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

There have been no material changes to the geographic locations of our 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, 2023.