v3.26.1
Segment and Geographic Information
3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Segment Reporting [Abstract]    
Segment and Geographic Information
11. Segment and Geographic Information
The Company’s chief operating decision maker (“CODM”) is the Company’s chief executive officer (“
CEO
”). The CODM reviews the financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, and allocating resources. The CODM uses revenue, gross margin, operating expenses and net loss by its single operating and reportable segment to make strategic business decisions.
 
 
The following table sets forth the Company’s disaggregation of operating expenses that were reviewed by the CODM for the three months ended March 31, 2026 and 2025 (in thousands):
 
    
Three months ended
March 31,
 
    
2026
    
2025
 
Research and development
   $ 12,832      $ 8,687  
Sales and marketing
     3,296        2,549  
General and administrative
     6,452        5,894  
  
 
 
    
 
 
 
Total operating expenses
   $ 22,580      $ 17,130  
  
 
 
    
 
 
 
The following is a summary of net sales for the three months ended March 31, 2026 and 2025, based on the country to which the Company’s products were shipped, which may be different from the geographic locations of the ultimate end customers (in thousands):
 
    
Three months ended
March 31,
 
    
2026
    
2025
 
Taiwan
     6,099        6,032  
China
     11,646        5,590  
Singapore
     —         3,599  
North America
     5,129        25  
Rest of the World*
     2,186        486  
  
 
 
    
 
 
 
Total
   $ 25,060      $ 15,732  
  
 
 
    
 
 
 
 
*
Other countries individually less than 10%
The following illustrates property, equipment and software, net, and
right-of-use
assets, net by geographic location based on physical location (in thousands):
 
    
March 31,
2026
    
December 31,
2025
 
Taiwan
   $ 3,438      $ 3,515  
China
     567        633  
North America
     836        593  
Rest of the World*
     1,163        34  
  
 
 
    
 
 
 
Total
   $ 6,004      $ 4,775  
  
 
 
    
 
 
 
 
*
Other countries individually less than 10%
15. Segment and Geographic Information
The Company’s CODM is the
CEO
and reviews the financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, and allocating resources. The CODM uses revenue, gross margin, operating expenses and net loss by its single operating and reportable segment to make strategic business decisions.    
 
 
The following table sets forth the Company’s disaggregation of operating expenses which were reviewed by the CODM for the years ended December 31, 2025 and 2024 (in thousands):
 
    
2025
    
2024
 
Research and development
   $ 38,486      $ 37,168  
Sales and marketing
     10,570        10,731  
General and administrative
     22,582        17,005  
  
 
 
    
 
 
 
Total operating expenses
   $ 71,638      $ 64,904  
  
 
 
    
 
 
 
The following is a summary of net sales for the years ended December 31, 2025 and 2024, based on the country to which the Company’s products were shipped, which may be different from the geographic locations of the ultimate end customers (in thousands):
 
    
2025
    
2024
 
China
     30,664        54,728  
Taiwan
     25,835        18,190  
Singapore
     7,306        —   
Rest of the World*
     8,709        3,149  
  
 
 
    
 
 
 
Total
   $ 72,514      $ 76,067  
  
 
 
    
 
 
 
 
*
Other countries individually less than 10%
The following illustrates property, equipment and software, net, and
right-of-use
assets, net by geographic locations based on physical location (in thousands):
 
    
2025
    
2024
 
Taiwan
   $ 3,515      $ 2,139  
China
     633        593  
North America
     593        786  
Rest of the World*
     34        26  
  
 
 
    
 
 
 
Total
   $ 4,775      $ 3,544  
  
 
 
    
 
 
 
 
*
Other countries individually less than 10%