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Segment Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Information

Note 16. Segment Information

The Company operates as one operating segment. Operating segments are defined as components of an enterprise for which separate financial information is evaluated regularly by the chief operating decision-maker (“CODM”), consisting of the Company’s chief executive officer and the Company’s chief technology officer as a group, in deciding how to allocate resources and assess the Company’s financial and operational performance. In addition, the Company’s CODM evaluates the Company’s financial information and resources and assesses the performance of these resources on a consolidated basis. As a result, the Company has determined that the Company’s business operates in a single operating segment. The CODM uses net loss as the measure of profit and loss to allocate resources and assess performance. The CODM regularly reviews net loss as reported on the Company's condensed consolidated statements of operations and comprehensive loss. Financial forecasts and budget to actual results used by the CODM to assess performance and allocate resources, as well as those used for strategic decisions related to headcount and capital expenditures are also reviewed on a consolidated basis. The CODM considers the impact of the significant segment expenses in the table below on net loss.

The measure of segment assets is reported on the condensed consolidated balance sheet as total assets. The CODM does not review segment assets at a level other than as presented in the Company's condensed consolidated balance sheets.

The table below presents the Company's consolidated operating results including segment expenses (in thousands):

 

Three Months Ended March 31,

 

 

2026

 

 

2025

 

Revenues:

 

 

 

 

 

 

Product

 

$

2,427

 

 

$

2,481

 

Professional service

 

 

3,835

 

 

 

887

 

Total revenues

 

 

6,262

 

 

 

3,368

 

Less:

 

 

 

 

 

 

Segment expense:

 

 

 

 

 

 

Product (excluding 1)

 

 

2,989

 

 

 

2,552

 

Professional service (excluding 1)

 

 

1,101

 

 

 

475

 

Stock-based compensation expense (1)

 

 

9,365

 

 

 

4,564

 

Research and development expenses (excluding 1)

 

 

18,828

 

 

 

18,592

 

General and administrative expenses (excluding 1)

 

 

7,351

 

 

 

5,841

 

Selling and marketing expenses (excluding 1)

 

 

1,764

 

 

 

1,762

 

Loss from Operations

 

 

(35,136

)

 

 

(30,418

)

Interest income

 

 

877

 

 

 

1,007

 

Change in fair value of warrant liabilities

 

 

450

 

 

 

(5,400

)

Interest expense

 

 

(1,183

)

 

 

—

 

Other income, net

 

 

45

 

 

 

1

 

Income tax provision

 

 

(32

)

 

 

(57

)

Net loss

 

$

(34,979

)

 

$

(34,867

)

 

 

 

 

 

 

 

Revenues from External Customers

Revenue from customers outside the United States was 66% and 7% of total revenue for the three months ended March 31, 2026 and March 31, 2025, respectively.

Long-Lived Assets

The following table sets forth the Company’s property, plant, and equipment, net by geographic region (in thousands):

 

 

March 31,

 

 

December 31,

 

 

 

2026

 

 

2025

 

North America

 

$

7,297

 

 

$

8,135

 

Asia

 

 

5,947

 

 

 

4,710

 

Total

 

$

13,244

 

 

$

12,845