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

Note 14 – Segment Information

The Company’s measure of segment profit or loss is net loss, which is used by the CODM to measure actual results versus expectations, set performance metrics, and during the Company’s budgeting and forecasting process to assess profitability and enable decision making. Significant segment expenses within net loss include cost of goods sold, research and development, and selling, general and administrative expenses. The only segment asset regularly reviewed by the CODM is cash and cash equivalents, which is reported on the balance sheets. No sales to an individual customer accounted for more than 10% of the Company’s total revenue for the three months ended March 31, 2026 and March 31, 2025, respectively.

The following table is representative of revenue and significant segment expense categories regularly provided to the CODM for purposes of managing the Company’s single operating and reportable segment. Segment revenue and net loss are consistent with the statements of operations (in thousands).

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2026

 

 

2025

 

Revenue

 

$

12,074

 

 

$

5,661

 

Less:

 

 

 

 

 

 

Cost of goods sold

 

 

2,133

 

 

 

1,015

 

Research and development costs

 

 

1,692

 

 

 

1,354

 

Selling, general and administrative expenses (1)

 

 

25,186

 

 

 

13,596

 

Other segment items (2)

 

 

803

 

 

 

349

 

Net loss

 

$

(17,740

)

 

$

(10,653

)

 

(1)
Selling, general and administrative expenses include depreciation and amortization expense of $0.1 million and $31,000 for the three months ended March 31, 2026 and 2025, respectively.
(2)
Other segment items are comprised of change in fair value of convertible notes payable, interest expense, other income, net, and provision for income taxes, as shown on the statements of operations.