| Summary of Key Financial Performance Measures of Segment |
Key financial performance measures of the segment are as follows.
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For the three months ended June 30, |
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For the six months ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Revenue |
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Hardware |
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$ |
13,624 |
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$ |
15,143 |
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$ |
29,005 |
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$ |
33,973 |
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Professional Services |
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8,636 |
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4,327 |
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14,669 |
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8,220 |
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Deferred hub amortization |
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1,456 |
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4,619 |
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3,506 |
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9,277 |
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SaaS - Smart Apartments |
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12,032 |
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9,990 |
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23,084 |
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19,747 |
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SaaS - Smart Operations |
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2,294 |
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2,625 |
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4,696 |
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5,424 |
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SaaS - All Other |
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1,802 |
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1,604 |
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3,567 |
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3,011 |
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SaaS |
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16,128 |
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14,219 |
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31,347 |
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28,182 |
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Total revenue |
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39,844 |
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38,308 |
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78,527 |
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79,652 |
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Cost of revenue |
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Hardware |
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11,914 |
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12,868 |
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24,490 |
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26,828 |
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Professional Services |
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6,860 |
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6,237 |
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12,758 |
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13,530 |
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Deferred hub amortization |
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859 |
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2,300 |
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2,062 |
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4,740 |
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SaaS |
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3,991 |
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4,235 |
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7,876 |
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8,324 |
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Total cost of revenue |
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23,624 |
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25,640 |
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47,186 |
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53,422 |
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Gross profit |
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16,220 |
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12,668 |
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31,341 |
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26,230 |
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Operating expenses |
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Research and development |
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5,038 |
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5,695 |
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10,480 |
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12,781 |
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Sales and marketing |
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4,949 |
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6,194 |
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9,131 |
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10,736 |
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General and administrative |
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8,271 |
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9,229 |
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14,622 |
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23,836 |
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Stock compensation |
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3,153 |
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2,035 |
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6,110 |
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4,578 |
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Depreciation and amortization |
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1,270 |
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1,200 |
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2,553 |
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2,344 |
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Total operating expenses |
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22,681 |
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24,353 |
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42,896 |
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54,275 |
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Impairment charge |
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- |
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- |
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- |
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24,929 |
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Loss from operations |
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(6,461 |
) |
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(11,685 |
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(11,555 |
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(52,974 |
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Other segment items(1) |
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820 |
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825 |
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1,466 |
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1,930 |
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Net loss |
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$ |
(5,641 |
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$ |
(10,860 |
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$ |
(10,089 |
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$ |
(51,044 |
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(1) Other segment items include interest income, net, other income (expense), net, and income tax expense (benefit).
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