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Segment Information | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Segment Information | Note 10. Segment Information The Company’s Chief Executive Officer, who is the Company’s Chief Operating Decision Maker (“CODM”), manages the business through two operating segments, consistent with how the CODM: (i) assesses operating performance on a regular basis, (ii) makes resource allocation decisions, and (iii) designates responsibilities of his direct reports. The Company’s operating segments, which also qualify as reportable segments include: (i) Surgical Glaucoma and (ii) Dry Eye. These segments are generally determined based on the decision-making structure and the grouping of similar products and services. The CODM uses segment gross profit to assess the operating performance and make resource allocation decisions for each of its segments. Segment gross profit represents revenue reduced by cost of goods sold within each of the operating and reportable segments. The CODM reviews a monthly executive reporting package based on consolidated results of the Company when making decisions about allocating resources and assessing performance. The CODM evaluates actual segment performance to budget and forecast, including monthly sales performance, when allocating capital and personnel. The Company does not have any intercompany transactions between segments that require elimination. The CODM does not review operating expenses separately for its segments, as the Company does not allocate operating expenses, with many operating costs shared between the segments, and therefore, this is not considered when allocating resources and assessing performance. The Company evaluated the monthly executive reporting package and did not identify any significant or other expenses for disclosure that are not already presented. In reviewing and assessing segment performance and managing operations, management does not review segment assets. Substantially all of the Company’s revenue is generated from sales in the United States. The following table summarizes select operating results information for each reportable segment (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Revenue |  |  |  |  |  |  |  |  |  |  |  |
Surgical Glaucoma |  | $ | 19,718 |  |  | $ | 18,632 |  |  | $ | 56,063 |  |  | $ | 57,132 |
Dry Eye |  |  | 188 |  |  |  | 1,525 |  |  |  | 915 |  |  |  | 3,660 |
Total revenue |  |  | 19,906 |  |  |  | 20,157 |  |  |  | 56,978 |  |  |  | 60,792 |
Cost of goods sold |  |  |  |  |  |  |  |  |  |  |  |
Surgical Glaucoma |  |  | 2,592 |  |  |  | 2,453 |  |  |  | 7,662 |  |  |  | 7,084 |
Dry Eye |  |  | 117 |  |  |  | 797 |  |  |  | 438 |  |  |  | 1,984 |
Total cost of goods sold |  |  | 2,709 |  |  |  | 3,250 |  |  |  | 8,100 |  |  |  | 9,068 |
Gross profit |  |  |  |  |  |  |  |  |  |  |  |
Surgical Glaucoma |  |  | 17,126 |  |  |  | 16,179 |  |  |  | 48,401 |  |  |  | 50,048 |
Dry Eye |  |  | 71 |  |  |  | 728 |  |  |  | 477 |  |  |  | 1,676 |
Total gross profit |  |  | 17,197 |  |  |  | 16,907 |  |  |  | 48,878 |  |  |  | 51,724 |
Operating expenses |  |  | (25,102 | ) |  |  | (28,136 | ) |  |  | (82,308 | ) |  |  | (90,327 | )
Investment income |  |  | 965 |  |  |  | 1,454 |  |  |  | 3,139 |  |  |  | 4,628 |
Interest expense |  |  | (1,306 | ) |  |  | (1,151 | ) |  |  | (3,853 | ) |  |  | (3,501 | )
Loss on debt extinguishment |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,962 | )
Other (expense) income, net |  |  | (2 | ) |  |  | 26 |  |  |  | (118 | ) |  |  | (25 | )
Loss before income taxes |  | $ | (8,248 | ) |  | $ | (10,900 | ) |  | $ | (34,262 | ) |  | $ | (39,463 | )

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