v3.26.3
Segment Reporting
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company operates under one reportable segment. The Company’s chief operating decision maker (“CODM”), is the Chief Executive Officer (“CEO”). The Company views its operations, makes decisions regarding how to allocate resources and manages its business as one reportable segment and one reporting unit. The CODM reviews financial information presented on a consolidated basis for purposes of allocating resources and assessing financial performance. Net income or net loss as reported on the consolidated statement of comprehensive income or loss is the measure of segment profit or loss used by the CODM in allocating resources and assessing performance. Total assets for the operating segment is the amount presented on the condensed consolidated balance sheets.
The following table represents the Company’s total revenue by customers’ geographic locations:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Revenue by customers' geographic locations:
North America49%51%49%50%
Europe34%30%34%33%
Asia Pacific ("APAC") & Rest of World (1)
17%19%17%17%
Total revenue100%100%100%100%
(1)Rest of the world consists of countries in Central and South America and Africa.
The following table presents the Company’s significant segment expenses which are regularly provided to the CODM for the single reportable segment:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(Amounts in thousands)
Total revenue$209,314 $188,805 $607,697 $540,343 
Costs and operating expenses:
Cost of goods sold98,666 88,290 279,987 257,929 
Research and development15,337 14,175 45,179 41,057 
Sales and marketing26,302 26,873 82,734 77,495 
General and administrative98,555 42,642 199,427 126,563 
Total costs and operating expenses238,860 171,980 607,327 503,044 
Other income (expense), net2,738 287 (11,253)5,971 
Income tax provision11,624 2,201 14,208 7,663 
Net (loss) income$(38,432)$14,911 $(25,091)$35,607 
Concentrations of Credit Risk and Significant Customers
Financial instruments that subject the Company to significant concentrations of credit risk primarily consist of cash and cash equivalents, marketable securities and accounts receivable. The Company's investment policy requires that it only invest in highly-rated securities and limits its exposure to any single-issuer to mitigate the risk of credit loss.
The Company’s expected loss allowance methodology for accounts receivable is developed using historical collection experience, current and future economic and market conditions and a review of the current status of customers' trade accounts receivable. The Company’s expected loss allowance and changes in the allowance period over period have not been historically material. Concentration of credit risk with respect to accounts receivable is limited to customers to whom the Company makes significant sales. To control credit risk, the Company performs regular credit evaluations of its customers’ financial condition.
There was no revenue from a specific customer that represented 10% or more of the Company's total revenue for the three and nine months ended September 30, 2026, or 2025.
One customer represented 10% of the Company’s total trade accounts receivable balance at September 30, 2026, and no customer represented 10% or more of the Company's total trade accounts receivable balance at December 31, 2025.