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Segment Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Information

Note 10. Segment Information

The Company operates in a single reportable segment. The entire business is managed by a single management team whose chief operating decision maker is the Chief Executive Officer, who evaluates segment performance based on operating income (loss) for purposes of allocating resources and evaluating financial performance.

The following table represents total net revenue based on where customers are physically located:

 

 

 

Year Ended

 

 

 

December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

 

 

(in thousands)

 

North America

 

$

284,280

 

 

$

186,279

 

 

$

163,605

 

Europe and Middle East

 

 

76,268

 

 

 

62,015

 

 

 

58,917

 

Asia Pacific

 

 

12,218

 

 

 

9,828

 

 

 

17,644

 

Total net revenues

 

$

372,766

 

 

$

258,122

 

 

$

240,166

 

 

The following table reflects the incremental disclosure requirements related to our adoption of ASU 2023-07 for the following periods:

 

 

 

Year Ended

 

 

 

December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

 

 

(in thousands)

 

Net revenue

 

$

372,766

 

 

$

258,122

 

 

$

240,166

 

Significant segment expenses:

 

 

 

 

 

 

 

 

 

Cost of revenue

 

 

243,784

 

 

 

182,618

 

 

 

190,979

 

Sales

 

 

23,563

 

 

 

15,845

 

 

 

15,233

 

Marketing

 

 

28,866

 

 

 

27,644

 

 

 

31,857

 

Research and development

 

 

17,304

 

 

 

17,137

 

 

 

19,123

 

General and administrative

 

 

28,388

 

 

 

31,321

 

 

 

32,558

 

Other costs (1)

 

 

10,832

 

 

 

—

 

 

 

1,896

 

Operating income (loss)

 

 

20,029

 

 

 

(16,443

)

 

 

(51,480

)

Reconciliation of segment operating income (loss) to net income (loss):

 

 

 

 

 

 

 

 

 

Interest expense, net

 

 

8,068

 

 

 

504

 

 

 

1,220

 

Other non-operating expense, net

 

 

1,289

 

 

 

394

 

 

 

1,753

 

Income tax expense (benefit)

 

 

(5,511

)

 

 

338

 

 

 

5,093

 

Net income (loss)

 

$

16,183

 

 

$

(17,679

)

 

$

(59,546

)

 

(1) Other costs include acquisition related costs and Goodwill and other intangible asset impairment.

 

The following table represents property and equipment, net based on physical location:

 

 

 

Year Ended

 

 

 

December 31,

 

 

 

2024

 

 

2023

 

 

 

(in thousands)

 

United States

 

$

5,255

 

 

$

3,888

 

International

 

 

589

 

 

 

936

 

Total property and equipment, net

 

$

5,844

 

 

$

4,824