v3.26.1
Segment Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Information

Note 14. Segment Information

The Company manages its business activities on a consolidated basis and operates as one operating and reportable segment, which has been the business of developing and commercializing the Company's proprietary AIDE technology platform. The key factors used to identify the reportable segments are the organization of its business and alignment of the Company's internal operations and the nature of our AIDE technology. Operating segments are defined as components of an enterprise for which discrete financial information is available and is evaluated regularly by the CODM, in deciding how to allocate resources and assess performance.

The Company’s Chief Executive Officer, who is the CODM, reviews financial information on a consolidated basis for purposes of allocating and evaluating financial performance. The CODM evaluates the Company’s performance and resource allocation by analyzing consolidated net income (loss), as reported on the condensed consolidated statement of operations and comprehensive income (loss). This assessment involves comparing net income (loss) across prior periods, the Company's forecast, and total expenditures related to eDSP product development and the Phase 3 NEAT clinical trial.

The measure of segment assets reviewed by the CODM is the consolidated total assets, as reported on the condensed consolidated balance sheets. The following table presents the measure of segment assets regularly provided to the CODM (in thousands):

 

 

March 31, 2026

 

 

December 31, 2025

 

Cash, cash equivalents and short-term investments

 

 

18,163

 

 

 

17,752

 

 

The following table presents financial information, including significant segment expenses, which are regularly provided to the CODM and included within condensed consolidated statements of operations and comprehensive income (loss) (in thousands):

 

 

Three Months Ended March 31,

 

 

2026

 

 

2025

 

Research and development:

 

 

 

 

 

 

Personnel

 

$

1,914

 

 

$

1,320

 

Stock-based compensation

 

 

542

 

 

 

435

 

Clinical and contract manufacturing

 

 

3,600

 

 

 

6,727

 

Other

 

 

789

 

 

 

(337

)

General and administrative:

 

 

 

 

 

 

Personnel

 

 

1,335

 

 

 

1,727

 

Stock-based compensation

 

 

744

 

 

 

951

 

Consulting and professional costs

 

 

1,558

 

 

 

1,466

 

Other

 

 

630

 

 

 

645

 

Intangible asset impairment charge

 

 

67,808

 

 

 

—

 

Fair value adjustment for contingent consideration

 

 

(64,330

)

 

 

1,924

 

Total operating expenses

 

 

14,590

 

 

 

14,858

 

Loss from operations

 

 

(14,590

)

 

 

(14,858

)

Fair value adjustment for debt

 

 

12,168

 

 

 

(444

)

Fair value adjustment for warrants

 

 

31,116

 

 

 

—

 

Other segment items

 

 

7,218

 

 

 

272

 

Net income (loss)

 

$

35,912

 

 

$

(15,030

)

 

Other segment items within net income (loss) include interest income, other income (expense), net, and income tax expense.

The Company’s long-lived assets consist primarily of property, plant and equipment, net, and operating lease right-of-use assets are maintained in Italy. As of March 31, 2026 and December 31, 2025, no individual country other than the U.S. accounted for 10% or more of these assets.