v3.25.2
Segment and Geographic Information
6 Months Ended
Jun. 30, 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   2025   2024 
  

Three Months Ended

June 30,

  

Six Months Ended

June 30,

 
   2025   2024   2025   2024 
Revenue  $35,411   $29,943   $68,315   $57,816 
Less cost of sales   11,127    11,361    23,788    21,932 
Gross Profit   24,284    18,582    44,527    35,884 
Gross Margin   68.6%   62.1%   65.2%   62.1%
Less:                    
General and administrative   7,478    7,713    15,011    15,498 
Sales and marketing   11,616    13,179    22,820    25,639 
Research and development   566    636    1,009    1,163 
Interest expense   1,004    992    2,049    1,827 
Unrealized foreign currency translation gain   (178)   (118)   (202)   (79)
Other (income) expense   (7)   5    2    (7)
Provision for income taxes   255    36    230    104 
Net Income (Loss)  $3,550   $(3,861)  $3,608   $(8,261)

 

The Company attributes revenues to geographic areas based on the location of the customer. Approximately 91% and 88% of revenue was in the United States for the three months ended June 30, 2025 and 2024, respectively, and 91% and 89% of revenue was in the United States for the six months ended June 30, 2025 and 2024, respectively. Total revenue by major geographic area is as follows (in thousands):

 

   2025   2024   2025   2024 
  

Three Months Ended

June 30,

  

Six Months Ended

June 30,

 
   2025   2024   2025   2024 
United States  $32,133   $26,276   $62,250   $51,409 
Rest of world   3,278    3,667    6,065    6,407 
Total revenue  $35,411   $29,943   $68,315   $57,816