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v3.25.2

Segment Reporting (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Summary of Key Financial Performance Measures of Segment | Key financial performance measures of the segment are as follows.
|  | For the three months ended June 30, |  |  | For the six months ended June 30,
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |  |
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |
Hardware |  | $ | 15,143 |  |  | $ | 24,676 |  |  | $ | 33,973 |  |  | $ | 53,753 |  |
Professional Services |  |  | 4,327 |  |  |  | 5,816 |  |  |  | 8,220 |  |  |  | 9,274 |  |
Deferred hub amortization |  |  | 4,619 |  |  |  | 5,215 |  |  |  | 9,277 |  |  |  | 11,257 |  |
SaaS |  |  | 14,219 |  |  |  | 12,811 |  |  |  | 28,182 |  |  |  | 24,723 |  |
Total revenue |  |  | 38,308 |  |  |  | 48,518 |  |  |  | 79,652 |  |  |  | 99,007 |  |
Cost of revenue |  |  |  |  |  |  |  |  |  |  |  |  |
Hardware |  |  | 12,868 |  |  |  | 16,318 |  |  |  | 26,828 |  |  |  | 35,002 |  |
Professional Services |  |  | 6,237 |  |  |  | 8,869 |  |  |  | 13,530 |  |  |  | 15,317 |  |
Deferred hub amortization |  |  | 2,300 |  |  |  | 2,841 |  |  |  | 4,740 |  |  |  | 5,726 |  |
SaaS |  |  | 4,235 |  |  |  | 3,185 |  |  |  | 8,324 |  |  |  | 6,234 |  |
Total cost of revenue |  |  | 25,640 |  |  |  | 31,213 |  |  |  | 53,422 |  |  |  | 62,279 |  |
Gross profit |  |  | 12,668 |  |  |  | 17,305 |  |  |  | 26,230 |  |  |  | 36,728 |  |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |
Operating expenses excluding stock compensation and depreciation and amortization |  |  | 21,118 |  |  |  | 20,101 |  |  |  | 47,353 |  |  |  | 45,266 |  |
Stock compensation |  |  | 2,035 |  |  |  | 2,992 |  |  |  | 4,578 |  |  |  | 5,975 |  |
Depreciation and amortization |  |  | 1,200 |  |  |  | 1,130 |  |  |  | 2,344 |  |  |  | 2,564 |  |
Total operating expenses |  |  | 24,353 |  |  |  | 24,223 |  |  |  | 54,275 |  |  |  | 53,805 |  |
Impairment charge |  |  | - |  |  |  | - |  |  |  | 24,929 |  |  |  | - |  |
Loss from operations |  |  | (11,685 | ) |  |  | (6,918 | ) |  |  | (52,974 | ) |  |  | (17,077 | ) |
Other segment items(1) |  |  | 825 |  |  |  | 2,313 |  |  |  | 1,930 |  |  |  | 4,780 |  |
Net loss |  | $ | (10,860 | ) |  | $ | (4,605 | ) |  | $ | (51,044 | ) |  | $ | (12,297 | ) |
(1) Other segment items include interest income, net, other income (expense), net, and income tax expense (benefit).

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