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Segment Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting Information [Line Items]  
Segment Information
Note 16. Segment Reporting
The Company operates as a single reportable segment, manages the business, and evaluates financial performance on a consolidated basis. The CODM regularly receives and reviews consolidated financial results focusing primarily on revenue, costs and expenses, and net loss from the consolidated statements of operations to make decisions regarding the allocation of resources and assessment of performance.
Net loss for the years ended December 31, 2024 and 2023 is as follows (in thousands):
 
    
2024
     
2023
  
Revenue
    $ 1,554      $ 3,856  
Less: Costs and expenses
      
Cost of sales
      579        3,656  
Employee costs
      31,981        23,773  
Technology costs
      4,694        2,693  
Depreciation and amortization
      886        2,040  
Net interest (income)/expense
      (1,903 )       255  
Fair value changes and financing charges
      16,187        49,454  
Other segment items (a)
      10,325        9,574  
  
 
 
     
 
 
  
Net loss
    $ (61,195 )     $ (87,589 ) 
  
 
 
     
 
 
  
 
*
Other segment items included in segment net loss includes marketing expense, professional fees, income tax expense, facilities costs, foreign currency exchange gains and losses, credit loss, and other overhead expenses.
The measure of segment assets is reported on the consolidated balance sheet as total consolidated assets. Long-lived and ROU assets located in the United States, Asia Pacific and United Kingdon region were as follows:
 
    
December 31, 2024
     
December 31, 2023
  
    
Fixed Assets
     
ROU Assets
     
Fixed Assets
     
ROU Assets
  
United States
    $ 1,095      $ 277      $ 368      $ 421  
Asia Pacific
      913        1,175        1,038        1,477  
United Kingdom
      73        321        149        525  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 2,081      $ 1,773      $ 1,555      $ 2,423  
  
 
 
     
 
 
     
 
 
     
 
 
  
BURTECH ACQUISITION CORP [Member]  
Segment Reporting Information [Line Items]  
Segment Information
NOTE 10. SEGMENT INFORMATION
ASC Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise that engage in business activities from which it may recognize revenues and incur expenses, and for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how to allocate resources and assess performance.
The Company’s CODM has been identified as the
Chief Financial Officer
, who reviews the assets, operating results, and financial metrics for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that there is only one reportable segment.
The CODM assesses performance for the single segment and decides how to allocate resources based on net income or loss that also is reported on the statement of operations as net income or loss. The measure of segment assets is reported on the balance sheet as total assets. When evaluating the Company’s performance and making key decisions regarding resource allocation, the CODM reviews several key metrics included in net income or loss and total assets, which include the following:
 
    
As of December 31,
  
    
2024
     
2023
  
Cash and restricted cash
    $ 758,842      $ 843,313  
Investments held in Trust Account
      47,558,112        46,893,175  
 
    
Year Ended December 31,
  
    
2024
     
2023
  
Operating costs
    $ 4,459,541      $ 3,040,539  
Interest income earned on Trust Account
      2,465,138        5,751,596  
The CODM reviews interest earned on the Trust Account to measure and monitor stockholder value and determine the most effective strategy of investment with the Trust Account funds while maintaining compliance with the Trust Agreement.
Operating expenses are reviewed and monitored by the CODM to manage and forecast cash to ensure enough capital is available to complete a business combination or similar transaction within the business combination period. The CODM also reviews operating expenses to manage, maintain and enforce all contractual agreements to ensure costs are aligned with all agreements and budget. Operating costs, as reported on the statement of operations, are the significant segment expenses provided to the CODM on a regular basis.
All other segment items included in net income or loss are reported on the statement of operations and described within their respective disclosures.