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Note 6 - Segment Information
 9 Months Ended
Sep. 30, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

6. Segment Information

 

The Company operates as one operating segment. Our chief operating decision maker (“CODM”) is our Chief Executive Officer, who reviews financial information presented on a consolidated basis. The CODM uses consolidated operating loss and net loss to assess financial performance and allocate resources. These financial metrics are used by the CODM to make key operating decisions, such as the allocation of budget between cost of revenues, research and development, sales and marketing, and general and administrative expenses.

 

The following table presents key financial information with respect to the Company’s single operating segment (in thousands):

 

  

Three months ended

  

Nine months ended

 
  

September 30,

  

September 30,

 
  

2025

  

2024

  

2025

  

2024

 

Revenues

 $430  $838  $1,542  $2,453 
                 

Costs and expenses(a):

                

Cost of revenues

  10   23   24   64 

Product R&D

  47   78   132   146 

General and administrative, including rent

  302   152   848   875 

Payroll and related

  1,257   1,508   4,877   4,898 

Professional fees and IP

  414   236   1,073   969 

Marketing and travel

  97   57   351   374 

Total costs and expenses

  2,127   2,054   7,305   7,326 

Other segment items(b)

  15,507   11   15,498   31 

Other income, net

  124   151   405   454 

Income (loss) before provision for income taxes

  13,934   (1,054)  10,140   (4,388)

Provision for income taxes

  -   (11)  (10)  10 

Income (loss) from continuing operations

 $13,934  $(1,043) $10,150  $(4,398)

 

(a)

The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision-maker.

 

(b)

Other segment items primarily include net proceeds from patent settlement, depreciation and amortization, payroll and related - re-allocated to cost of revenues, and stock options expense.

 

The following table presents the long-lived assets property and equipment and right-of-use assets by geographic area (in thousands):

 

  September 30, 2025  December 31, 2024 

United States

 $75  $- 

Sweden

  551   696 

Total

 $626  $696 

 

 

We report revenues from external customers based on the country where the customer is located. The following table presents net revenues by country (in thousands):

 

  

Three months ended September 30,

 
  

2025

  

2024

 
  

Amount

  

Percentage

  

Amount

  

Percentage

 

Japan

 $277   64.4% $534   63.7%

Sweden

  38   8.8%  105   12.5%

Germany

  11   2.6%  18   2.1%

China

  4   0.9%  3   0.4%

South Korea

  -   -%  14   1.7%

Other

  (1)  (0.2)%  -   -%
  $329   76.5% $674   80.4%

United States

  101   23.5%  164   19.6%

Total

 $430   100.0% $838   100.0%

 

  

Nine months ended September 30,

 
  

2025

  

2024

 
  

Amount

  

Percentage

  

Amount

  

Percentage

 

Japan

 $889   57.7% $1,324   53.9%

Sweden

  275   17.8%  328   13.4%

Germany

  34   2.2%  105   4.3%

China

  14   0.9%  10   0.4%

South Korea

  1   0.1%  96   3.9%
  $1,213   78.7% $1,863   75.9%

United States

  329   21.3%  590   24.1%

Total

 $1,542   100.0% $2,453   100.0%