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Segment and Customer Concentration Information | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Segment and Customer Concentration Information | Segment and Customer Concentration Information Reportable segments are (i) Autonomy Solutions and (ii) ATS, which also represent our operating segments. See Note 2 for additional information on the Company’s operating segments. These segments reflect the way the chief operating decision maker (“CODM”) evaluates the Company’s business performance and manages its operations. Each segment has distinct product offerings, customers and market penetration. The Chief Executive Officer is the CODM of the Company. The Company’s CODM evaluates segment performance using segment operating loss and segment assets to allocate operating and capital resources to each segment. The CODM also considers other financial information, including revenue data broken down by products and services within the Autonomy Solutions and ATS segments. Autonomy Solutions This segment manufactures and distributes commercial LiDAR sensors that measure distance using laser light for automotive mobility applications. This segment is impacted by trends in the automobile and autonomous vehicles sector and the infrastructure/technology sector. ATS This segment is in the business of development of semiconductor technology based lasers and sensors. This segment also designs, tests and provides consulting services for development of integrated circuits. This segment is impacted by trends in and the strength of the automobile and aeronautics sectors as well as government spending in military and defense activities. The accounting policies of the operating segments are the same as those described in Note 2. Segment operating results and reconciliations to the Company’s condensed consolidated balances are as follows (in thousands):
Three Months Ended June 30, 2025
| Autonomy Solutions |  | ATS |  | Total
Revenue: |  |  |  |  |
Products | $ | 8,780 |  |  | $ | 3,187 |  |  | $ | 11,967 |
Services | 1,525 |  |  | 2,142 |  |  | 3,667 |
Intersegment revenue | — |  |  | 3,706 |  |  | 3,706 |
| 10,305 |  |  | 9,035 |  |  | 19,340 |
Reconciliation of revenue |  |  |  |  |
Elimination of intersegment revenue |  |  |  |  | (3,706) |
Total revenue |  |  |  |  | 15,634 |
Less: |  |  |  |  |
Depreciation and amortization | 3,614 |  |  | 749 |  |  | 4,363 |
Other segment items (a) | 41,841 |  |  | 12,615 |  |  | 54,456 |
Operating loss | $ | (35,150) |  |  | $ | (4,329) |  |  | $ | (39,479) |
Reconciliation of profit or loss |  |  |  |  |
Other income (expense), net |  |  |  |  | 16,730 |
Loss before provision for income taxes |  |  |  |  | $ | (22,749) |
Other significant items: |  |  |  |  |
Total assets | $ | 220,602 |  |  | $ | 44,885 |  |  | $ | 265,487 |
Inventory | $ | 13,766 |  |  | $ | 4,281 |  |  | $ | 18,047 |
(a) For each reportable segment, the other segment items category includes: •Autonomy Solutions - Professional and contracting service expenses, travel expenses, insurance and maintenance expenses, utility expenses, restructuring costs and certain overhead expenses. •ATS - Professional and contracting service expenses, courier & postage expenses, insurance expenses, facility maintenance & utility expenses, restructuring costs and certain overhead expenses.
Three Months Ended June 30, 2024
| Autonomy Solutions |  | ATS |  | Total
Revenue: |  |  |  |  |
Products | $ | 12,696 |  |  | $ | 3,043 |  |  | $ | 15,739 |
Services | (2,715) |  |  | 3,427 |  |  | 712 |
Intersegment revenue | — |  |  | 5,165 |  |  | 5,165 |
| 9,981 |  |  | 11,635 |  |  | 21,616 |
Reconciliation of revenue |  |  |  |  |
Elimination of intersegment revenue |  |  |  |  | (5,165) |
Total revenue |  |  |  |  | 16,451 |
Less: |  |  |  |  |
Depreciation and amortization | 5,646 |  |  | 744 |  |  | 6,390 |
Other segment items (a) | 123,284 |  |  | 19,664 |  |  | 142,948 |
Operating loss | $ | (118,949) |  |  | $ | (8,773) |  |  | $ | (127,722) |
Reconciliation of profit or loss |  |  |  |  |
Other income (expense), net |  |  |  |  | (3,451) |
Loss before provision for income taxes |  |  |  |  | $ | (131,173) |
Other significant items: |  |  |  |  |
Total assets | $ | 334,988 |  |  | $ | 46,821 |  |  | $ | 381,809 |
Inventory | $ | 9,255 |  |  | $ | 4,771 |  |  | $ | 14,026 |
(a) For each reportable segment, the other segment items category includes: •Autonomy Solutions - Professional and contracting service expenses, travel expenses, insurance and maintenance expenses, utility expenses, restructuring costs and certain overhead expenses. •ATS - Professional and contracting service expenses, courier & postage expenses, insurance expenses, facility maintenance & utility expenses, restructuring costs and certain overhead expenses.
Six Months Ended June 30, 2025
| Autonomy Solutions |  | ATS |  | Total
Revenue: |  |  |  |  |
Products | $ | 18,740 |  |  | $ | 6,199 |  |  | $ | 24,939 |
Services | 5,322 |  |  | 4,259 |  |  | 9,581 |
Intersegment revenue | — |  |  | 6,916 |  |  | 6,916 |
| 24,062 |  |  | 17,374 |  |  | 41,436 |
Reconciliation of revenue |  |  |  |  |
Elimination of intersegment revenue |  |  |  |  | (6,916) |
Total revenue |  |  |  |  | 34,520 |
Less: |  |  |  |  |
Depreciation and amortization | 7,282 |  |  | 1,490 |  |  | 8,772 |
Impairment of goodwill and intangible assets | — |  |  | — |  |  | — |
Other segment items (a) | 119,410 |  |  | 25,005 |  |  | 144,415 |
Operating loss | $ | (102,630) |  |  | $ | (9,121) |  |  | $ | (111,751) |
Reconciliation of profit or loss |  |  |  |  |
Other income (expense), net |  |  |  |  | 8,458 |
Loss before provision for income taxes |  |  |  |  | $ | (103,293) |
Other significant items: |  |  |  |  |
Total assets | $ | 220,602 |  |  | $ | 44,885 |  |  | $ | 265,487 |
Inventory | $ | 13,766 |  |  | $ | 4,281 |  |  | $ | 18,047 |
(a) For each reportable segment, the other segment items category includes: •Autonomy Solutions - Professional and contracting service expenses, travel expenses, insurance and maintenance expenses, utility expenses, restructuring costs and certain overhead expenses. •ATS - Professional and contracting service expenses, courier & postage expenses, insurance expenses, facility maintenance & utility expenses, restructuring costs and certain overhead expenses.
Six Months Ended June 30, 2024
| Autonomy Solutions |  | ATS |  | Total
Revenue: |  |  |  |  |
Products | $ | 26,986 |  |  | $ | 4,055 |  |  | $ | 31,041 |
Services | (685) |  |  | 7,063 |  |  | 6,378 |
Intersegment revenue | — |  |  | 10,676 |  |  | 10,676 |
| 26,301 |  |  | 21,794 |  |  | 48,095 |
Reconciliation of revenue |  |  |  |  |
Elimination of intersegment revenue |  |  |  |  | (10,676) |
Total revenue |  |  |  |  | 37,419 |
Less: |  |  |  |  |
Depreciation and amortization | 13,074 |  |  | 1,384 |  |  | 14,458 |
Impairment of goodwill and intangible assets | — |  |  | — |  |  | — |
Other segment items (a) | 257,194 |  |  | 29,934 |  |  | 287,128 |
Operating loss | $ | (243,967) |  |  | $ | (9,524) |  |  | $ | (253,491) |
Reconciliation of profit or loss |  |  |  |  |
Other income (expense), net |  |  |  |  | (2,809) |
Loss before provision for income taxes |  |  |  |  | $ | (256,300) |
Other significant items: |  |  |  |  |
Total assets | $ | 334,988 |  |  | $ | 46,821 |  |  | $ | 381,809 |
Inventory | $ | 9,255 |  |  | $ | 4,771 |  |  | $ | 14,026 |
(a) For each reportable segment, the other segment items category includes: •Autonomy Solutions - Professional and contracting service expenses, travel expenses, insurance and maintenance expenses, utility expenses, restructuring costs and certain overhead expenses. •ATS - Professional and contracting service expenses, courier & postage expenses, insurance expenses, facility maintenance & utility expenses, restructuring costs and certain overhead expenses. Two customers, customer A and customer B of the Autonomy Solutions segment, accounted for 34% and 22%, respectively, of the Company’s revenue for the three months ended June 30, 2025. Two customers, customer A and customer B of the Autonomy Solutions segment, accounted for 38% and 21%, respectively, of the Company’s revenue for the six months ended June 30, 2025. One customer, customer B of the Autonomy Solutions Segment, accounted for 61% of the Company’s revenue for the three months ended June 30, 2024. One customer, customer B of Autonomy Solutions segment, accounted for 53% of the Company’s revenue for the six months ended June 30, 2024. A vast majority of the Company’s long-lived assets are located in North America.

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