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Segment Reporting
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting

16. Segment Reporting

 

The Company operates as one operating segment that derives revenue primarily from our principal licensed product, Ameluz®. We are currently selling Ameluz® for this indication in the United States under an exclusive license and supply agreement. Ameluz® (including the RhodoLED® Lamps) accounts for approximately 100% of our revenue.

 

The Company’s CODM is its Chief Executive Officer, who reviews financial information presented on a consolidated basis. The CODM uses consolidated net income to allocate resources and assesses financial performance by comparing actual results to historical results and previously forecasted financial information.

 

 

The following table presents selected financial information with respect to the Company’s single operating segment for the three and nine months ended September 30, 2025 and 2024:

 

(in thousands)  2025   2024   2025   2024 
   Three Months Ended
September 30,		   Nine  Months Ended
September 30,		 
(in thousands)  2025   2024   2025   2024 
Revenues, net  $6,988   $9,012   $24,605   $24,762 
                     
Operating expenses:                    
Cost of revenues   2,045    4,877    7,955    13,336 
Direct sales   2,297    2,224    5,873    6,532 
Sales support   1,931    1,914    6,127    6,560 
General and administrative   5,551    3,847    16,563    11,301 
Research and development   854    669    2,932    1,306 
Other operating expenses   588    441    1,062    1,225 
Total operating expenses   13,266    13,972    40,512    40,260 
Loss from operations   (6,278)   (4,960)   (15,907)   (15,498)
Other income (expense), net   (365)   (706)   (244)   (840)
Loss before income taxes   (6,643)   (5,666)   (16,151)   (16,338)
Income tax expense   6    3    25    25 
Net loss  $(6,649)  $(5,669)  $(16,176)  $(16,363)