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Note 4 - Segment Information | 9 Months Ended
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Sep. 30, 2025
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | 4. Segment Information Significant Segment Expenses The Company derives its revenue from a single reporting segment: product digitization solutions. Revenue is generated in this segment primarily through software subscriptions and software development services. The Company manages its business activities on a consolidated basis. In addition, the Chief Executive Officer of the Company, as the chief operating decision-maker (“CODM”), reviews the Company’s operating results and makes decisions to allocate resources based on consolidated financial information. As such, the Company has one single reportable segment. The CODM uses consolidated net income (loss) as a performance measure and total consolidated assets as an asset measure, to assess performance of the Company, to allocate working capital, and to monitor budget versus actual results. The following table illustrates reported segment revenue, segment profit and loss, and significant segment expenses.
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Subscription |  | $ | 4,567 |  |  | $ | 5,252 |  |  | $ | 14,505 |  |  | $ | 17,394 |
Service |  |  | 3,060 |  |  |  | 4,191 |  |  |  | 10,500 |  |  |  | 12,366 |
Total revenue |  |  | 7,627 |  |  |  | 9,443 |  |  |  | 25,005 |  |  |  | 29,760 |
Cost of revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Subscription (1) |  |  | 642 |  |  |  | 735 |  |  |  | 2,101 |  |  |  | 2,205 |
Service (1) |  |  | 1,330 |  |  |  | 1,638 |  |  |  | 4,120 |  |  |  | 5,138 |
Amortization expense on acquired intangible assets |  |  | 1,209 |  |  |  | 1,173 |  |  |  | 3,546 |  |  |  | 3,445 |
Total cost of revenue |  |  | 3,181 |  |  |  | 3,546 |  |  |  | 9,767 |  |  |  | 10,788 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash compensation |  |  | 4,875 |  |  |  | 10,322 |  |  |  | 22,281 |  |  |  | 30,425 |
Stock-based compensation |  |  | 3,529 |  |  |  | 2,548 |  |  |  | 8,170 |  |  |  | 7,376 |
Professional services and consultants |  |  | 1,969 |  |  |  | 2,057 |  |  |  | 6,811 |  |  |  | 5,880 |
Software and hardware |  |  | 608 |  |  |  | 871 |  |  |  | 2,146 |  |  |  | 2,759 |
Depreciation and amortization |  |  | 563 |  |  |  | 536 |  |  |  | 1,606 |  |  |  | 1,636 |
Other segment items (2) |  |  | 1,266 |  |  |  | 932 |  |  |  | 3,093 |  |  |  | 3,104 |
Total operating expenses |  |  | 12,810 |  |  |  | 17,266 |  |  |  | 44,107 |  |  |  | 51,180 |
Operating loss |  |  | (8,364 | ) |  |  | (11,369 | ) |  |  | (28,869 | ) |  |  | (32,208 | )
Other income, net |  |  | 217 |  |  |  | 617 |  |  |  | 796 |  |  |  | 1,868 |
Provision for income taxes |  |  | (5 | ) |  |  | (2 | ) |  |  | (29 | ) |  |  | (22 | )
Net loss |  | $ | (8,152 | ) |  | $ | (10,754 | ) |  | $ | (28,102 | ) |  | $ | (30,362 | )
(1) | Cost of revenue for Subscription and Service excludes amortization expense on acquired intangible assets.
(2) | Other segment items include training and travel expenses, recruiting expenses, rent and facility expenses, bad debt expenses and other miscellaneous costs.
Geographic Information The Company markets its products in the U.S. and in non-U.S. countries through its sales personnel and partners. Revenue by geographic area, based upon the “bill-to” location, was as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Domestic |  | $ | 2,308 |  |  | $ | 2,004 |  |  | $ | 6,781 |  |  | $ | 8,349 |
International (1) |  |  | 5,319 |  |  |  | 7,439 |  |  |  | 18,224 |  |  |  | 21,411 |
Total |  | $ | 7,627 |  |  | $ | 9,443 |  |  | $ | 25,005 |  |  | $ | 29,760 |
(1) | Revenue from the Central Banks, consisting of a consortium of central banks around the world, is classified as international revenue. Reporting revenue by country for this customer is not practicable.
Major Customers The following customers accounted for 10% or more of revenue:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Customer A |  |  | 43 | % |  |  | 43 | % |  |  | 42 | % |  |  | 41 | %
Customer B |  |  | * |  |  |  | 16 | % |  |  | 13 | % |  |  | 15 | %
Customer C |  |  | 11 | % |  |  | * |  |  |  | 10 | % |  |  | 15 | %
* | Less than 10%
Long-Lived Assets by Geographical Area Long-lived assets by geographic area were as follows:
|  | September 30, |  |  | December 31, |
|  | 2025 |  |  | 2024 |
United States |  | $ | 1,223 |  |  | $ | 1,026 |
Europe |  |  | 4 |  |  |  | 14 |
Total |  | $ | 1,227 |  |  | $ | 1,040 |

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- Definition The entire disclosure for reporting segments including data and tables. 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