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SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION

  

10. SEGMENT INFORMATION

 

The Company operates as a single operating segment. The Company’s chief operating decision maker (“CODM”) is its chief executive officer and chief financial officer who review financial information. The CODM uses total operating expense, operating margin and related impact on cash consumption to assess financial performance and allocate resources. These financial metrics are used by the CODM to make key operating decisions, such as the determination of the overall headcount, allocation of headcount, research and development expenditures, licensing and royalty rates offered to customers and capital expenditure commitments. The measure of assets is reported on the accompanying condensed balance sheets as total assets.

 

The following table presents selected financial information with respect to the Company’s single operating segment for the three and six months ended June 30, 2026 and 2025:

                    
  Three Months Ended June,  Six Months Ended June,
   2026  2025  2026  2025
Revenue  $158   $–   $169   $4 
Less expenses (1):                    
Employee related expenses   2,505    1,516    4,708    3,303 
Stock-based compensation   1,741    1,278    3,147    2,287 
Tool related expenses   638    611    1,215    1,222 
Consulting expenses   123    107    330    256 
Metrology and other outsourced research expenses   386    441    944    902 
Intellectual property related expenses   599    302    829    653 
Other operating items(2)   925    1,000    2,079    2,099 
Operating margin   (6,759)   (5,255)   (13,083)   (10,718)
Other income (expense), net   423    288    674    542 
Net loss  $(6,336)  $(4,967)  $(12,409)  $(10,176)

 

(1)

Expenses classified as cost of revenue are included in the line items presented and not as a separate category.

 

(2) Other operating expenses include items not listed above separately. These include travel and entertainment, professional development, information technology costs, office related costs, depreciation, other research and development costs, other sales and marketing costs and other general and administrative costs.