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SEGMENTS | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
SEGMENTS | SEGMENTS Information about our Company’s operations by operating segment is shown in the following tables (in thousands):
| Year Ended December 31, 2024
| Americas | EMEA | Rest of World | Eliminations and Adjustments (1) | Total
Revenues, net | $ | 65,514 |  | $ | 73,858 |  | $ | 593 |  | $ | (4,072) |  | $ | 135,893 |
Less (2) |  |  |  |  |
Cost of sales | 41,024 |  | 50,770 |  | 399 | (3,241) |  | 88,952 |
Segment gross profit | 24,490 |  | 23,088 |  | 194 |  | (831) |  | 46,941 |
Less (2) |  |  |  |  |
General and administrative expenses | 29,633 |  | 32,207 |  | 425 | 20 | 62,285 |
Interest expense | 10,243 |  | 9 |  | — |  | — |  | 10,252 |
Income tax expense | (2,430) |  | 585 |  | (64) |  | — |  | (1,909) |
Other segment items (3) | 3,991 |  | 1,369 |  | — |  | (712) |  | 4,648 |
Net Loss | $ | (16,947) |  | $ | (11,082) |  | $ | (167) |  | $ | (139) |  | $ | (28,335) |
(1) Eliminations and adjustments represent net sales between the Americas, EMEA and Rest of World segments. Sales between these segments are generally valued at market. (2) The significant expense categories and amounts align with the segment-level information that is regularly provided to the Chief Operating Decision Maker. (3) Other Segment items for reach reportable segment includes: Research and development - consists primarily of personnel related costs, prototype and sample costs, design costs, and global product certifications mostly for wireless certifications. Other Expense - consists of interest expense associated with our debt financing arrangements, (gains) or losses on settlements of debt, and the effects of changes in the fair value of derivative liabilities.
| Year Ended December 31, 2023
| Americas | EMEA | Rest of World | Eliminations and Adjustments (1) | Total
Revenues, net | $ | 95,990 |  | $ | 88,256 |  | $ | 2,949 |  | $ | (10,474) |  | $ | 176,721 |
Less (2) |  |  |  |  |
Cost of sales | 57,873 |  | 63,597 |  | 1,640 |  | (9,691) |  | 113,419 |
Segment gross profit | 38,117 |  | 24,659 |  | 1,309 |  | (783) |  | 63,302 |
Less (2) |  |  |  |  |
General and administrative expenses | 35,814 |  | 25,107 |  | 422 |  | (91) |  | 61,252 |
Impairment of goodwill | 17,344 |  | 8,183 |  | — |  | (332) |  | 25,195 |
Interest expense | 10,821 |  | 19 |  | — |  | — |  | 10,840 |
Income tax expense | 772 |  | 818 |  | 276 | — |  | 1,866 |
Other segment items (3) | 3,278 |  | 476 |  | — |  | (449) |  | $ | 3,305 |
Net Loss | $ | (29,912) |  | $ | (9,944) |  | $ | 611 |  | $ | 89 |  | $ | (39,156) |
(1) Eliminations and adjustments represent net sales between the Americas, EMEA and Rest of World segments. Sales between these segments are generally valued at market. (2) The significant expense categories and amounts align with the segment-level information that is regularly provided to the Chief Operating Decision Maker. (3) Other Segment items for reach reportable segment includes: Research and development - consists primarily of personnel related costs, prototype and sample costs, design costs, and global product certifications mostly for wireless certifications. Other Expense - consists of interest expense associated with our debt financing arrangements, (gains) or losses on settlements of debt, and the effects of changes in the fair value of derivative liabilities.
| December 31, 2024 |  | December 31, 2023
Identifiable Assets |  |  |
Americas | $ | 50,318 |  |  | $ | 72,638 |
EMEA | 63,863 |  |  | 86,045 |
Rest of World | 1,124 |  |  | 3,090 |
Total Identifiable Assets | $ | 115,305 |  |  | $ | 161,773 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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