| Summary of Key Financial Performance Measures of Segment |
Key financial performance measures of the segment are as follows.
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For the three months ended March 31, |
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2025 |
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2024 |
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Revenue |
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Hardware |
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18,830 |
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29,077 |
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Professional Services |
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3,893 |
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3,458 |
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Deferred hub amortization |
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4,658 |
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6,042 |
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SaaS |
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13,963 |
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11,912 |
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Total revenue |
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41,344 |
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50,489 |
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Cost of revenue |
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Hardware |
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13,960 |
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18,684 |
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Professional Services |
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7,293 |
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6,448 |
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Deferred hub amortization |
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2,440 |
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2,885 |
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SaaS |
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4,089 |
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3,049 |
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Total cost of revenue |
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27,782 |
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31,066 |
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Gross Profit |
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13,562 |
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19,423 |
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Operating expenses |
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Operating expenses excluding stock compensation and depreciation and amortization |
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26,234 |
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25,165 |
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Stock compensation |
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2,543 |
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2,983 |
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Depreciation and amortization |
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1,145 |
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1,434 |
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Total operating expenses |
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29,922 |
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29,582 |
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Impairment charge |
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24,929 |
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- |
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Loss from operations |
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(41,289 |
) |
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(10,159 |
) |
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Other segment items(1) |
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1,105 |
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2,467 |
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Net loss |
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$ |
(40,184 |
) |
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$ |
(7,692 |
) |
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(1) Other segment items include interest income, net, other income (expense), net, and income tax expense (benefit).
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