XML 27 R20.htm IDEA: XBRL DOCUMENT v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information

Note 11. Segment Information

 

The Company operates in a single reportable segment. The Company’s chief operating decision maker is its Chief Executive Officer. The Chief Executive Officer regularly reviews operating loss and net loss for the Company’s single reportable segment when assessing performance and making resource allocation decisions. Operating loss, which is the segment profit or loss measure most consistent with the measurement principles used in the Company’s consolidated financial statements, is used to evaluate the results of the Company’s core operations before the effects of interest expense, other income or expense, and income taxes. Net loss is also reviewed by the Chief Executive Officer to evaluate overall consolidated performance after these items. Because the Company has one reportable segment, the segment measures reviewed by the Chief Executive Officer are consistent with the corresponding consolidated measures presented in the Company’s condensed consolidated statements of operations.

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,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

 

 

Americas

 

$

41,297

 

 

$

42,889

 

 

$

70,588

 

 

$

89,873

 

Europe and Middle East

 

 

12,166

 

 

 

10,842

 

 

 

23,088

 

 

 

24,460

 

Asia Pacific

 

 

2,902

 

 

 

3,046

 

 

 

4,861

 

 

 

6,345

 

Total net revenue

 

$

56,365

 

 

$

56,777

 

 

$

98,537

 

 

$

120,678

 

 

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,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

 

 

Net revenue

 

$

56,365

 

 

$

56,777

 

 

$

98,537

 

 

$

120,678

 

Significant segment expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue

 

 

34,502

 

 

 

38,515

 

 

 

65,380

 

 

 

79,049

 

Sales

 

 

5,791

 

 

 

6,131

 

 

 

11,381

 

 

 

12,155

 

Marketing

 

 

8,909

 

 

 

6,600

 

 

 

15,579

 

 

 

13,029

 

Research and development

 

 

4,813

 

 

 

4,471

 

 

 

9,387

 

 

 

8,464

 

General and administrative

 

 

5,401

 

 

 

7,354

 

 

 

13,922

 

 

 

15,570

 

Other costs (recovery) (1)

 

 

—

 

 

 

(5,965

)

 

 

—

 

 

 

(8,796

)

Operating (loss) income

 

 

(3,051

)

 

 

(329

)

 

 

(17,112

)

 

 

1,207

 

Interest expense, net

 

 

3,666

 

 

 

2,049

 

 

 

5,035

 

 

 

4,055

 

Other expense (income), net

 

 

73

 

 

 

799

 

 

 

(28

)

 

 

1,102

 

Income tax expense (benefit)

 

 

521

 

 

 

(246

)

 

 

398

 

 

 

(355

)

Net loss

 

$

(7,311

)

 

$

(2,931

)

 

$

(22,517

)

 

$

(3,595

)

 

 

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