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SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION

 

10. SEGMENT INFORMATION

 

The Company operates as a single operating segment. The Company’s chief operating decision maker (“CODM”) is its chief executive officer and chief financial officer who review financial information. The CODM uses total operating expense, operating margin and related impact on cash consumption to assess financial performance and allocate resources. These financial metrics are used by the CODM to make key operating decisions, such as the determination of the overall headcount, allocation of headcount, research and development expenditures, licensing and royalty rates offered to customers and capital expenditure commitments. The measure of assets is reported on the accompanying condensed balance sheets as total assets.

 

The following table presents selected financial information with respect to the Company’s single operating segment for the three months ended March 31, 2026 and 2025:

        
  

Three Months Ended

March 31,

 
   2026   2025 
Revenue  $11   $4 
Less expenses (1):          
Employee related expenses   2,204    1,787 
Stock-based compensation   1,406    1,009 
Travel and entertainment   48    70 
Tool related expenses   577    611 
Consulting expenses   207    150 
Metrology and other outsourced research expenses   559    461 
Intellectual property related expenses   230    351 
Other operating items(2)   1,104    1,028 
Loss from operations   (6,324)   (5,463)
Other income (expense), net   251    254 
Net loss  $(6,073)  $(5,209)

 

(1)

Expenses classified as cost of revenue are included in the line items presented and not as a separate category.

 

(2) Other operating expenses include items not listed above separately. These include travel and entertainment, professional development, information technology costs, office related costs, depreciation, other research and development costs, other sales and marketing costs and other general and administrative costs.