v3.26.3
Segment Information and Geographic Data
 9 Months Ended
Sep. 30, 2026
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area [Abstract]  
Segment Information and Geographic Data Segment Information and Geographic Data
Segment Information
The Company operates and manages its business activities on a consolidated basis and has one operating and reportable segment, as defined under ASC 280, Segment Reporting. Operating segments are defined as components of an enterprise where separate financial information is evaluated regularly by the Chief Operating Decision Maker (“CODM”), who decides how to allocate resources and assess performance. The Company’s Chief Executive Officer serves as the CODM and is responsible for evaluating the Company’s financial performance and allocating resources. The CODM uses net income as the measure of profit or loss to allocate resources, assess performance, and monitor budgets against actual results.
Further, the CODM reviews the significant segment expenses in the table below on net loss when assessing performance and allocating resources, as well as those used for strategic decisions related to headcount and capital
expenditures. The measure of segment assets is reported on the balance sheet as total assets. The CODM does not review segment assets at a level other than that presented in the Company’s unaudited interim consolidated balance sheets.
The following table reflects the Company’s significant segment expenses:

Three Months Ended September 30,Nine Months Ended September 30,
(In thousands)2026202520262025
Revenue, net:
Product$37,161 $38,114 $98,496 $97,639 
Service16,068 14,179 47,008 41,713 
Total revenue, net$53,229 $52,293 $145,504 $139,352 
Cost of sales (excluding stock-based compensation)20,831 23,355 61,085 63,219 
Amortization - license & IP expense481 481 1,443 1,455 
Sales (excluding stock-based compensation)8,752 8,208 26,607 24,646 
Marketing (excluding stock-based compensation)2,455 2,456 7,866 8,221 
Research and development (excluding stock-based compensation)
8,307 7,850 25,597 23,401 
General and administrative (excluding stock-based compensation)15,97313,498 46,139 34,140 
Stock-based compensation expense4,8535,638 15,054 19,059 
Other segment items(2,326)(3,715)(1,166)(12,326)
Net loss$(6,097)$(5,478)$(37,121)$(22,463)
Other segment items include other income (expenses) and interest income (expenses).
The Company sells its products worldwide and attributes revenue to the geography where the product is delivered. The geographical distribution of revenue for the three and nine months ended September 30, 2026 and 2025 was as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
United States$30,351 $27,201 $82,958 $69,630 
EMEA12,505 12,385 34,574 36,260 
APAC8,304 11,143 23,970 27,901 
Other2,069 1,564 4,002 5,561 
Total revenue, net$53,229 $52,293 $145,504 $139,352 
EMEA includes Europe, the Middle East and Africa; APAC includes Asia and the Pacific countries; Other includes Canada and Latin America.
For revenue, a major country is defined as a group of customers in a country with combined revenue of greater than 10% of consolidated revenue or as otherwise deemed significant. Revenue in China was approximately $4.3 million and $12.7 million for the three and nine months ended September 30, 2026, respectively, and was approximately $5.3 million and $14.2 million for the three and nine months ended September 30, 2025, respectively. China is separately presented for comparative purposes, as its revenue exceeded 10% of consolidated revenue in the prior-year periods. Other than the United States and China, no other country represented greater than 10% of the Company’s consolidated net sales or was otherwise deemed significant. For the three and nine months ended September 30, 2026 and 2025, the Company had no major customers that represented more than 10% of the Company’s total revenue. No customer represented more than 10% of net accounts receivable as of September 30, 2026 and 2025.
As of September 30, 2026 and December 31, 2025, the Company’s long-lived assets by geographic area were as follows (in thousands):
September 30, 2026December 31, 2025
United States$10,638 $7,978 
EMEA403 425 
APAC9,573 9,606 
Total$20,614 $18,009 
As of September 30, 2026 and December 31, 2025, most of the Company’s long-lived assets were located in the United States and in Wuxi, China.