v3.25.4
Segment Information
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Information

14. Segment Information

 

The Company has determined that it has a single operating segment. The Company derives revenues from services contracts, existing product lines and manufacturing. The accounting policies of the segment are the same as those described in Note 1, Basis of Presentation and Summary of Significant Accounting Policies.

 

The Company's Chief Executive Officer is the Chief Operating Decision Maker ("CODM"). The CODM allocates resources and makes operating decisions based on consolidated net income. The CODM does not evaluate profitability below the level of the consolidated company. Net income (loss) is used to monitor results on a budget versus actual basis. Net income (loss) is adjusted for various non-recurring and non-cash transactions such as stock compensation expenses and impairment expenses.

 

The following table presents selected financial information with respect to the Company's single operating segment:

 



 

Year Ended December 31,

 

(In thousands)

 

2025

 

 

2024

 

Segment Revenue

 

$

5,243

 

 

$

5,120

 

Other Revenue (1)

 

 

3

 

 

 

2,666

 

Total Revenue

 

 

5,246

 

 

 

7,786

 

Less:

 

 

 

 

 

 

Cost of revenue

 

 

2,638

 

 

 

2,393

 

Research and development

 

 

12,471

 

 

 

10,322

 

General and administrative

 

 

13,131

 

 

 

14,013

 

Sales and marketing

 

 

4,043

 

 

 

3,530

 

Intangible amortization expense

 

 

118

 

 

 

—

 

Other (2)

 

 

5,249

 

 

 

4,451

 

Interest income, net

 

 

(1,944

)

 

 

(1,244

)

(Gain) loss on warrant liabilities

 

 

(37,740

)

 

 

46,935

 

Other income, net

 

 

(221

)

 

 

(2

)

Income tax benefit (expense)

 

 

(2,538

)

 

 

5

 

Net income (loss)

 

$

10,039

 

 

$

(72,617

)

 

(1)
Other revenue includes revenue from legacy product sales.
(2)
Other for the year ended December 31, 2025, includes $4.4 million of stock-based compensation expenses, $0.2 million of severance charges and $0.6 other non-recurring transactions. Other for the year ended December 31, 2024, includes $1.1 million of cost of revenue from legacy product sales, $2.8 million of stock-based compensation expenses, $0.6 million of other non-recurring or non-cash transactions.

 

The Company's revenue is derived primarily from U.S. customers. During the years ended December 31, 2025 and 2024, the Company had no revenue earned from customers located outside the United States.

All long-lived assets are maintained in the United States. All losses are attributable to operations within the United States.