Note 17 - Segment and Geographic Information

6 Months Ended

Jun. 30, 2025

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

Note 17. Segment and Geographic Information

The Company operates in one reportable segment. The Company’s Chief Executive Officer, who is considered to be the chief operating decision maker ("CODM"), manages the Company’s operations as a whole and reviews financial information presented on a consolidated basis, accompanied by information about product revenue, for purposes of evaluating financial performance and allocating resources. Our CEO is the functional head of all operations and manufacturing. Our Board, in conjunction with our CODM, considers our consolidated performance and does not have individual financial or operating goals for each location, nor for any other subset of the Company's operations. As such, the Company has determined it operates as one reportable segment. 

Our CODM uses net income or loss to allocate resources and assess performance. The CODM regularly reviews the consolidated net income or loss to make strategic decisions, such as capital expenditure plan, production plan and manpower allocation. 

	Three months ended June 30,						Six months ended June 30,
	2025			2024			2025			2024
Revenues	$	102,952		$	43,270		$	202,811		$	83,943
Cost of goods sold		(71,790	)		(33,708	)		(141,105	)		(66,790	)
Adjusted research and development		(20,425	)		(12,517	)		(37,960	)		(23,945	)
Adjusted sales and marketing		(7,303	)		(3,526	)		(12,337	)		(7,039	)
Adjusted general and administrative		(14,336	)		(9,936	)		(27,224	)		(19,821	)
Other segment items		1,804			(9,698	)		(2,455	)		(15,633	)
Total	$	(9,098	)	$	(26,115	)	$	(18,270	)	$	(49,285	)

We exclude share-based compensation and related expense, certain legal expenses associated with litigation and other one-time expenses from adjusted research and development, adjusted sales and marketing and adjusted general and administrative expenses.

Other segment items include share-based compensation expense, interest expense, interest income, certain legal expenses associated with litigation and other one-time items. 

The following tables set forth the Company’s revenue and asset information by geographic region. Revenue is classified based on the location of where the product is manufactured. Long-lived assets in the tables below comprise property, plant, equipment, land use rights, right of use assets and intangible assets (in thousands):

	Three months ended June 30,				Six months ended June 30,
	2025		2024		2025		2024
Revenues:
United States	$	803	$	1,967	$	1,954	$	4,677
Taiwan		39,505		28,859		67,333		53,562
China		62,644		12,444		133,524		25,704
Total	$	102,952	$	43,270	$	202,811	$	83,943

	June 30,		December 31,
	2025		2024
Long-lived assets:
United States	$	74,052	$	71,867
Taiwan		99,988		57,907
China		125,889		107,624
Total	$	299,929	$	237,398