v3.26.1
Note 9 - Segment Information
3 Months Ended
Mar. 31, 2026
Notes to Financial Statements  
Segment Reporting [Text Block]

9.

Segment Information

 

The Company has two reportable segments: (i) U.S. and (ii) Canada. These operating segments, which also form the Company's reportable segments, are identified in accordance with the changes in the CODM internal review of financial results and the CODM uses this information to evaluate the Company's performance and allocate resources.

 

The CODM assesses performance of the segments based on gross profit. The CODM uses gross profit to develop the annual operating plan and regular forecasting process. Additionally, the CODM considers budget-to-actual variances for this measure on a quarterly basis as well as segment-specific forecasting when making decisions about the allocation of operating and capital resources to each segment.

 

  

Three Months Ended March 31, 2026

 
  

US

  

Canada

  

Total

 
             

Net revenues

 $27,262  $3,256  $30,518 

Cost of revenue

  21,276   2,430   23,706 

Segment gross profit

  5,986   826   6,812 
             

Reconciling items (income) expense:

            

Selling, general, and administrative expense

          6,199 

Restructuring costs and severance

          245 

Depreciation and amortization

          410 

Interest expense

          499 

Other income, net

          (16)

Loss before income tax expense

         $(525)

 

 

 

   

Three Months Ended March 31, 2025

 
   

US

   

Canada

   

Total

 
                         

Net revenues

  $ 30,876     $ 3,165     $ 34,041  

Cost of revenue

    24,694       2,072       26,766  

Segment gross profit

    6,182       1,093       7,275  
                         

Reconciling items (income) expense:

                       

Selling, general, and administrative expense

                    5,872  

Depreciation and amortization

                    367  

Interest expense

                    469  

Other income, net

                    (9 )

Income before income tax expense

                  $ 576  

 

 

 

Long-lived assets of the Company as of the periods presented were (in thousands):

 

  

March 31,

  

December 31,

 
  

2026

  

2025

 

Assets:

        

United States

 $46,267  $38,482 

Canada

  4,760   5,577 

Total assets

 $51,027  $44,059 

 

 

Geographic Data (dollars in thousands)

 

   

Three Months Ended March 31,

 
   

2026

   

2025

 
           

% of

           

% of

 
   

Net

   

consolidated

   

Net

   

consolidated

 
   

Revenues

   

net revenue

   

Revenues

   

net revenue

 

United States

  $ 27,262       89.3 %   $ 30,876       90.7 %

Canada

    3,256       10.7 %     3,165       9.3 %

Total net revenue

  $ 30,518       100.0 %   $ 34,041       100.0 %