v3.25.1
Segment and Geographic Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment and Geographic Information

(16) Segment and Geographic Information

 

The Company operates as one reportable and operating segment based upon the Company’s organization structure and the way in which the operations and investments are managed and evaluated by the chief operating decision maker (“CODM”), who is the Company’s Chief Executive Officer. The CODM uses consolidated net income (loss) as the primary measure of segment profit or loss to monitor performance and allocate resources.

 

The measure of segment assets is reported on the balance sheet as total assets. The CODM does not review segment assets at a level other than that presented in the Company’s consolidated balance sheets.

 

The table below provides the calculation of consolidated net income (loss), which is the performance measure that is most consistent with GAAP, and the significant operating expenses included in this performance measure (in thousands):

 

   2025   2024 
   Three Months Ended
March 31,		 
   2025   2024 
Revenue  $32,904   $27,873 
Less cost of sales   12,661    10,571 
Gross Profit   20,243    17,302 
Gross Margin   61.5%   62.1%
Less:          
General and administrative   7,533    7,785 
Sales and marketing   11,204    12,460 
Research and development   443    527 
Interest expense   1,045    835 
Unrealized foreign currency translation (gain) loss   (24)   39 
Other expense (income)   9    (12)
Provision (benefit) for income taxes   (25)   68 
Net Income (Loss)  $58   $(4,400)

 

 

The Company attributes revenues to geographic areas based on the location of the customer. Approximately 92% and 90% of revenue was in the United States for the years ended March 31, 2025 and 2024, respectively. Total revenue by major geographic area is as follows (in thousands):

 

   2025   2024 
   Three Months Ended
March 31,		 
   2025   2024 
United States  $30,117   $25,133 
Rest of world   2,787    2,740 
Total revenue  $32,904   $27,873