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Note 19 - Segment Information
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

19. Segment Information

 

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision-maker (“CODM”) in deciding how to allocate resources and assess performance. The Company operates in one business segment. The Company’s CODM is its President and Chief Executive Officer, who reviews financial information presented on a consolidated basis. The CODM’s financial review is focused on the consolidated financial results of the Company which is used as the basis for financial performance assessment and allocation of resources. The Company has determined that it only has one operating segment and is managed on a consolidated basis, the measure of profit or loss is consolidated net income or loss.

 

The following table presents selected financial information with respect to the Company’s single operating segment for the years ended December 31, 2025, 2024 and 2023 (in thousands):

 

   

For the Years Ended December 31,

  
   

2025

    

2024

    

2023

  

Revenue

   $ 112,819     $ 119,907     $ 120,792  

Cost of revenue

     49,012       43,909       38,260  

Gross profit

     63,807       75,998       82,532  
                         

Operating expenses:

                        

Research & development

     25,770       25,544       21,763  

Selling, general & administrative

     49,088       55,555       59,925  

Total operating expenses

     74,858       81,099       81,688  

(Loss) income from operations

     (11,051 )     (5,101 )     844  

Interest and other income, net

     1,744       2,337       2,312  

(Loss) income before income taxes

     (9,307 )     (2,764 )     3,156  

Provision for income taxes

     672       6,064       6,595  

Loss from continuing operations

     (9,979 )     (8,828 )     (3,439 )

Loss from discontinued operations

     (901 )     (47,557 )     (79,228 )

Net loss

   $ (10,880 )   $ (56,385 )   $ (82,667 )

 

Total U.S revenues were $70.1 million, $82.4 million and $86.9 million for the years ended December 31, 2025, 2024 and 2023, respectively. See Note 13 Revenue and Geographic Information for additional information about revenue by region.