v3.25.2
Segment Information
6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information
12.
Segment Information

Operating segments are defined as components of an enterprise where separate financial information is evaluated regularly by the chief operating decision maker ("CODM"), which the Company has identified as being the CEO, in deciding how to allocate resources and assessing performance. The Company operates in one operating segment and one reportable segment. The Company’s CODM allocates resources and assesses performance at the consolidated level.

The CODM uses consolidated net loss as the measure of profit or loss to allocate resources and assess performance. Consolidated financial forecasts and budget to actual results are also used by the CODM to assess performance and allocate resources, make strategic decisions related to headcount and incur capital expenditures.

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

The table below presents the Company’s unaudited consolidated net loss including significant segment expenses (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

2024

 

Revenue

 

$

139,098

 

 

$

89,825

 

 

$

262,923

 

$

172,533

 

Less (add):

 

 

 

 

 

 

 

 

 

 

 

Excess and obsolete inventory charge (1)

 

 

 

 

 

1,309

 

 

 

 

 

1,812

 

Restructuring, acquisition and other expenses (2)

 

 

 

 

 

1,718

 

 

 

 

 

2,185

 

Stock-based compensation expense (3)

 

 

590,983

 

 

 

306

 

 

 

590,990

 

 

610

 

Other segment expenses (4)

 

 

10,767

 

 

 

(4,803

)

 

 

8,578

 

 

(9,063

)

Cost of revenue (excluding 1,2,3, 4)

 

 

23,777

 

 

 

21,056

 

 

 

47,188

 

 

45,191

 

Research and development (excluding 2,3,4)

 

 

22,774

 

 

 

24,263

 

 

 

44,816

 

 

52,980

 

Sales and marketing (excluding 2,3,4)

 

 

49,549

 

 

 

42,801

 

 

 

96,264

 

 

84,803

 

General and administrative (excluding 2,3,4)

 

 

16,899

 

 

 

16,101

 

 

 

33,599

 

 

33,405

 

Net loss

 

$

(575,651

)

 

$

(12,926

)

 

$

(558,512

)

$

(39,390

)

 

(4) Other segment expenses include other income, net, employer taxes related to stock-based compensation expense, amortization of intangible assets and provision for (benefit from) income taxes.

 

The Company currently sells its subscriptions to its clients and generates revenue in the United States.

Long-lived assets are composed of intangible assets, property, equipment and software, net and right-of-use assets. Long-lived assets by geographical location are as follows (in thousands):

 

 

 

June 30,

 

 

December 31,

 

 

2025

 

 

2024

 

United States

 

$

18,168

 

 

$

18,128

 

Outside the United States

 

 

1,122

 

 

 

666

 

Total

 

$

19,290

 

 

$

18,794