v3.26.1
Segment Information
12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Information

Note 12. Segment Information

The Company operates in a single reportable operating segment providing fixed wireless broadband and Wi-Fi networking infrastructure solutions. This segment generates revenue primarily from the sale of hardware products, but also includes revenues from software products, extended warranty and subscription services. The accounting policies for this segment are the same as those described in Note 1. Summary of significant accounting policies.

In its operation of the business, management, including our chief operating decision maker ("CODM"), who is also our Chief Executive Officer ("CEO"), reviews financial information regularly at the consolidated level. Net income (loss) is used as the metric for purposes of allocating resources and evaluating performance. The CODM monitors forecast versus actual net income (loss) for purposes of determining the general health of the Company and assessing the performance of the Company as compared to management's expectations. The Company does not have any intra-entity sales or transfers. Significant expenses reviewed by the CODM include those that are presented in the consolidated statements of operations and comprehensive loss.

See Note 15. Revenues from contracts with customers for additional information about the Company's revenues by product category and geography.

As the Company operates solely within one segment, total assets, property and equipment, net and software, net are reported at the consolidated level on the consolidated balance sheets. The Company's assets include both current and long-lived assets. As of

December 31, 2023 and 2024, segment assets were equal to total consolidated assets included on the consolidated balance sheets of $209.1 million and $173.7 million, respectively.

The Company's long-lived assets, including the Company's property and equipment, software, goodwill, operating lease right-of-use assets and noncurrent assets, but excluding deferred tax assets and investment in subsidiary, recognized on the consolidated balance sheets were located as follows (in thousands):

 

 

As of December 31,

 

 

 

2023

 

 

2024

 

North America

 

$

29,617

 

$

20,303

 

Europe, Middle East, Africa

 

 

20,023

 

 

 

15,101

 

Asia Pacific

 

 

4,078

 

 

 

1,773

 

Caribbean and Latin America

 

 

20

 

 

 

13

 

 

Depreciation and amortization, impairment, property and equipment additions and capital software additions are reported at the consolidated level on the consolidated statements of cash flows. Additional significant non-cash items include the following (in thousands):

 

 

Year Ended December 31,

 

 

 

2023

 

 

2024

 

Share-based compensation

 

$

11,593

 

$

9,824

 

Provision for inventory excess and obsolescence

 

 

14,070

 

 

 

5,981