v3.25.1
Note 17 - Segment Information
 3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

17.

Segment Information

 

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision-maker (“CODM”) in deciding how to allocate resources and assess performance. The Company operates in one business segment. The Company’s CODM is its President and Chief Executive Officer, who reviews financial information presented on a consolidated basis. The CODM’s financial review is focused on the consolidated financial results of the Company which is used as the basis for financial performance assessment and allocation of resources.

 

 

The following table presents financial information with respect to the Company’s single operating segment for the three months ended March 31, 2025 and 2024 (in thousands):

 

   

Three Months Ended March 31,

  
   

2025

    

2024

  

Revenue

   $ 26,168     $ 29,022  

Cost of revenue

     11,487       10,047  

Gross Profit

     14,681       18,975  
                 

Operating expenses:

                

Research and development

     6,059       6,409  

Selling, general and administrative

     12,906       15,071  

Total operating expenses

     18,965       21,480  

Loss from operations

     (4,284 )     (2,505 )

Interest and other income (expense), net

     415       592  

Loss before income taxes

     (3,869 )     (1,913 )

Provision for income taxes

     89       43  

Loss from continuing operations

     (3,958 )     (1,956 )

Loss from discontinued operations, net of tax

     (915 )     (2,558 )

Net loss

   $ (4,873 )   $ (4,514 )

 

Total U.S revenues were $16.4 million and $20.4 million for the three months ended March 31, 2025 and 2024, respectively. See Note 12 Revenue and Geographic Information for additional information about revenue by region.