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Segment Information
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Segment Information

Note 14. Segment Information

The Company has two reportable operating segments which are determined on the basis of product portfolio: Surgical Glaucoma and Dry Eye. The operating and reportable segments were determined based on how the Company’s Chief Executive Officer, its Chief Operating Decision Maker (“CODM”), views and evaluates the Company’s operations. The CODM allocates resources to and evaluates the financial performance of each operating segment primarily based on gross profit and gross profit margin.

Surgical Glaucoma segment includes sales of the Company’s OMNI® Surgical System for use in minimally invasive glaucoma procedures. Dry Eye segment includes sales of the Company’s TearCare® System and related components.

The following table summarizes select operating results information for each reportable segment (dollars in thousands):

 

 

Year Ended December 31,

 

 

 

2021

 

 

2020

 

Revenue

 

 

 

 

 

 

Surgical Glaucoma

 

$

46,496

 

 

$

26,000

 

Dry Eye

 

 

2,460

 

 

 

1,640

 

Total

 

 

48,956

 

 

 

27,640

 

Cost of goods sold

 

 

 

 

 

 

Surgical Glaucoma

 

 

6,473

 

 

 

7,069

 

Dry Eye

 

 

2,137

 

 

 

2,140

 

Total

 

 

8,610

 

 

 

9,209

 

Gross profit

 

 

 

 

 

 

Surgical Glaucoma

 

 

40,023

 

 

 

18,931

 

Dry Eye

 

 

323

 

 

 

(500

)

Total

 

 

40,346

 

 

 

18,431

 

Operating expense

 

 

91,824

 

 

 

50,619

 

Loss from operations

 

 

(51,478

)

 

 

(32,188

)

Interest income

 

 

—

 

 

 

30

 

Interest expense

 

 

(4,366

)

 

 

(2,403

)

Other expense, net

 

 

(6,928

)

 

 

(71

)

Loss before income tax

 

$

(62,772

)

 

$

(34,632

)

The Company does not allocate any income and expenses beyond revenue and cost of goods sold to the reportable operating segments in its reporting to the CODM. No asset information is provided for reportable operating segments because they are not reviewed by the CODM on segment basis. Substantially all of the Company’s revenue is generated from sales in the United States.