v3.25.1
Note 16 - Segment Information
3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

16. Segment Information

 

The Company manages its business activities on a consolidated basis and operates in a single operating segment. Its products and services are sold throughout the world, through direct and indirect sales channels. The Company’s chief operating decision maker (the “CODM”) is the Chief Executive Officer. The CODM makes operating performance assessment and resource allocation decisions on a consolidated basis. The CODM does not review assets in evaluating the results of the segment.

 

The accounting policies of the segment are the same as those described in “Note 2 - Summary of Significant Accounting Policies”. The CODM assesses performance for the consolidated entity and decides how to allocate resources based on net income (loss) reported on the consolidated statements of income (loss). The CODM uses net income (loss) to monitor budgeted versus actual results and to conduct competitive analysis by benchmarking against industry peers. Additionally, net income (loss) serves as a basis for making strategic decisions, such as acquisitions and reinvestments into the business, and establishing management compensation linked to segment performance.

 

The following table sets forth the information about the Company’s reported segment revenue, segment profit or loss, and significant segment expenses:

 

  

Three Months Ended March 31,

 
  

2025

  

2024

 
  

(in thousands)

 

Revenue:

 $93,064  $74,534 
         

Less:

        

People expenses

  52,807   45,615 

Stock-based compensation

  9,620   9,458 

Cloud and server hosting services expenses

  9,482   7,732 

Marketing expenses

  4,126   2,739 

Other segment items (1)

  13,463   10,944 

Net income (loss)

 $3,566  $(1,954)

 

(1) The other segment items category includes professional services, rent, software maintenance, travel, depreciation and amortization, certain overhead expense, and mark-to-market of earn-out shares liabilities and warrant liabilities.

 

Revenue by geography is based upon the billing address of the customer. All transfers between geographic regions have been eliminated from consolidated revenue. The following table sets forth revenue by geographic area:

 

  

Three Months Ended March 31,

 
  

2025

  

2024

 
  

(in thousands)

 

Revenue:

        

North America

 $36,452  $29,895 

EMEA

  29,484   22,806 

APAC

  27,128   21,833 

Total revenue

 $93,064  $74,534 

 

The following table sets forth revenue generated by countries which represent more than 10% of total consolidated revenue:

 

  

Three Months Ended March 31,

 
  

2025

  

2024

 
  

(in thousands)

 

Revenue:

        

United States

 $36,399  $29,697 

Germany

  12,292   9,894 

Singapore

  11,512   10,479