XML 32 R21.htm IDEA: XBRL DOCUMENT v3.25.1
Segment Reporting
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company operates in one operating and reportable segment, which derives revenue from the services operating on its storage platform. The Company’s chief operating decision maker (the “CODM”) is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance and allocating resources.
Measure of Segment Profit or Loss

The key measure of segment profit or loss utilized by the CODM to assess the performance of and allocate resources to the Company’s operating segment is consolidated net income (loss). Net income (loss) is used in monitoring budget versus actual results and is presented on the consolidated statements of operations and comprehensive loss. The measure of segment assets is reported on the condensed consolidated balance sheet as total consolidated assets.

The CODM reviews cost of revenue, research and development, sales and marketing, and general and administrative expenses exclusive of depreciation, amortization, and stock-based compensation, which are reviewed separately. The segment information for the three months ended March 31, 2025 and 2024 is presented below in the following table (in thousands):

Three Months Ended March 31,
20252024
Revenue$34,613 $29,968 
Adjusted cost of revenue(1)
7,293 6,997 
Adjusted research and development(1)
8,330 7,574 
Adjusted sales and marketing(1)
7,426 8,153 
Adjusted general and administrative(1)
5,212 5,331 
Depreciation5,251 5,448 
Amortization2,513 1,464 
Stock-based compensation7,359 5,529 
Other segment items(2)
553 525 
Net loss and comprehensive loss$(9,324)$(11,053)
________________
(1) Cost of revenue and operating expenses have been adjusted to exclude depreciation, amortization and stock-based compensation, which are disaggregated in their presentation to the CODM.
(2) Other segment items include investment income, interest expense, foreign exchange loss (gain), and income tax provision.