SEGMENT REPORTING

3 Months Ended

Mar. 31, 2025

SEGMENT REPORTING

SEGMENT REPORTING

11. SEGMENT REPORTING

The Company’s chief operating decision maker (the “CODM”) is its Chief Executive Officer. The Company has no segment managers who are held accountable by the CODM for operations, operating results, and planning for levels or components below the consolidated unit level. Accordingly, the Company has determined it has a single operating segment.

The CODM uses consolidated net loss for purposes of allocating resources and assessing segment performance, including monitoring actual results versus historical periods. Cost of revenue and operating expenses are considered significant segment expenses that are regularly provided to the CODM and included within consolidated net loss. The measure of segment assets is the total assets on the Company’s condensed consolidated balance sheets. Capital expenditures are reported on a consolidated basis on the Company’s condensed consolidated statements of cash flows. The following table includes the Company's segment revenue, significant segment expenses, and other segment items to reconcile to net loss.

	Dollars in Thousands
	Three Months Ended
	March 31,
	2025		2024
Net sales	$	4,929	$	3,432
Less expense (income):
Cost of sales		2,789		2,512
Operating expenses (1)		2,999		2,994
Other segment items (2)		25		5
Net loss	$	(884)	$	(2,079)

(1) Operating expenses include sales and marketing expenses, general and administrative expenses, research and development expenses and stock-based compensation.

(2) Other segment items include interest income, interest expense, gain on write-off of liability and other income.