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

15. SEGMENT INFORMATION

 

The Company operates as a single operating and reportable segment in accordance with ASC 280, Segment Reporting. The Company's Chief Operating Decision Maker ("CODM") is Scot Cohen, the Company's Executive Chairman and Chief Executive Officer. The CODM reviews financial information on a consolidated basis for purposes of evaluating financial performance and allocating resources, with the primary measure of segment performance being consolidated loss from operations. Resource allocation decisions are based on consolidated operating results, cash flows, liquidity, and overall strategic priorities rather than discrete financial information at a product line, geography, or functional level.

 

While the Company monitors certain operating metrics, including revenue by product line, such information is used for operational oversight and forecasting and is not used by the CODM to assess segment performance or allocate resources among components of the business. Accordingly, the Company has determined that it operates as one operating and one reportable segment.

 

The following table presents the significant expense categories and amounts for the three and six months ended June 30, 2026 and 2025.

 

 

                
 Three Months Ended June 30, Six Months Ended June 30,
  2026   2025   2026   2025 
                
Total revenues$2,052  $1,012  $3,163  $1,778 
Less: Significant segment expenses:               
Cost of revenues 507   525   927   695 
Research and development 152   162   257   594 
Salaries and burden 861   1,143   1,819   2,205 
Share-based compensation 1,019   770   3,403   2,435 
Consulting and professional fees 863   519   1,987   1,262 
Depreciation and amortization 55   149   111   304 
Other selling, general and administrative expenses (1) 846   600   1,679   1,060 
Total significant segment expenses 4,303   3,868   10,183   8,555 
Other segment items (2)  -     -     -     -  
Segment loss from operations$(2,251)  $(2,856)  $(7,020)  $(6,777) 

 

(1) Other selling, general and administrative expenses represents the aggregate of CODM-reviewed expense categories not considered individually significant, consisting of travel and entertainment, advertising and promotion, training, occupancy and office, public company costs, and other general and administrative costs.

 

(2) Other segment items consist of items not regularly reviewed by the Company's chief operating decision maker as part of the significant expense categories above and not individually significant. No such items were identified for the periods presented; other segment items reconcile to zero.

 

The measure of segment profit or loss reviewed by the CODM is consolidated loss from operations, which is the same measure presented in the Company's condensed consolidated statements of operations. The CODM does not review segment assets, as such information is not used in allocating resources or assessing performance. Refer to Note 16, Major Customers and Related Information, for entity-wide disclosures regarding revenue by geography and customer concentration.