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Segment Reporting
6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
Segment reporting is based on the “management approach,” following the method that management organizes the Company’s reportable segments for which separate financial information is made available to, and evaluated regularly by, the chief operating decision maker in allocating resources and in assessing performance. The Company’s chief operating decision maker ("CODM") is its Chief Executive Officer ("CEO"), who makes decisions on allocating resources and assessing performance.
In the three months ended December 31, 2023, the Company concluded a realignment of its operating segments to further drive its long-term strategic objectives. At the direction of the CEO, management reorganized its management reporting structure and began to manage its operations under one segment structure. The CEO, in making operating decisions, reviews consolidated financial information, accompanied by disaggregated information about revenues by geography and product. All of the Company’s principal operations and decision-making functions are located in the U.S. Substantially all of the Company's long-lived assets are located in the U.S.
The Company reassessed its reportable segments in the fourth quarter of fiscal year 2023 and determined it had one consolidated reportable segment beginning in the three months ended December 31, 2023.
The following table presents a summary of revenue by geography and product category for the three and six months ended June 30, 2024 and 2023 (in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2024202320242023
Revenue mix by geography:
United States$12,757 $25,602 $26,827 $48,104 
Japan3,829 12,810 11,427 25,718 
Asia, excluding Japan5,281 4,323 10,193 11,054 
Europe5,021 5,495 9,596 10,613 
Rest of the World7,489 13,595 15,127 20,862 
Total consolidated revenue$34,377 $61,825 $73,170 $116,351 
Revenue mix by product category:
Systems$23,900 $39,262 $48,160 $73,804 
Consumables4,457 7,491 9,112 13,938 
Skincare— 9,422 4,200 17,554 
Total product revenue28,357 56,175 61,472 105,296 
Service6,020 5,650 11,698 11,055 
Total consolidated revenue$34,377 $61,825 $73,170 $116,351