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Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information

Note 12. 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 net income (loss) and 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 (in thousands):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

 

 

North America

 

$

42,889

 

 

$

61,993

 

 

$

89,873

 

 

$

104,152

 

Europe and Middle East

 

 

10,842

 

 

 

11,983

 

 

 

24,460

 

 

 

22,944

 

Asia Pacific

 

 

3,046

 

 

 

2,502

 

 

 

6,345

 

 

 

5,230

 

Total net revenue

 

$

56,777

 

 

$

76,478

 

 

$

120,678

 

 

$

132,326

 

 

The following table reflects the significant expenses of the Company's reportable segment for the following periods (in thousands):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

 

 

Net revenue

 

$

56,777

 

 

$

76,478

 

 

$

120,678

 

 

$

132,326

 

Significant segment expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue

 

 

38,515

 

 

 

53,402

 

 

 

79,049

 

 

 

91,464

 

Sales

 

 

6,131

 

 

 

6,449

 

 

 

12,155

 

 

 

10,526

 

Marketing

 

 

6,600

 

 

 

7,292

 

 

 

13,029

 

 

 

12,228

 

Research and development

 

 

4,471

 

 

 

4,589

 

 

 

8,464

 

 

 

8,491

 

General and administrative

 

 

7,354

 

 

 

7,463

 

 

 

15,570

 

 

 

13,137

 

Other (recovery) costs (1)

 

 

(5,965

)

 

 

1,394

 

 

 

(8,796

)

 

 

6,304

 

Operating (loss) income

 

 

(329

)

 

 

(4,111

)

 

 

1,207

 

 

 

(9,824

)

Interest expense, net

 

 

2,049

 

 

 

2,220

 

 

 

4,055

 

 

 

2,370

 

Other expense, net

 

 

799

 

 

 

352

 

 

 

1,102

 

 

 

722

 

Income tax benefit

 

 

(246

)

 

 

841

 

 

 

(355

)

 

 

(5,547

)

Net loss

 

$

(2,931

)

 

$

(7,524

)

 

$

(3,595

)

 

$

(7,369

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Other costs in the three and six months ended June 30, 2025 include acquisition-related costs and an insurance recovery. Other costs in the three and six months ended June 30, 2024 include acquisition-related costs.