Geographic Information and Major Customer Data

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Geographic Information and Major Customer Data

GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER DATA

ASC No. 280, “Segment Reporting,” establishes standards for reporting information about operating segments. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker ("CODM") in deciding how to allocate resources and in assessing performance. The Company manages its business on the basis of one reportable segment and unit and derives revenues mainly from SaaS revenues, term license subscriptions and maintenance and services fees (see Note 1 for a brief description of the Company’s business and revenue recognition).

The CODM of the Company is the Chief Executive Officer. The CODM assesses the performance of the Company and decides how to allocate resources based upon consolidated net loss that is also reported within the condensed consolidated statements of operations. The measure of segment assets that is reviewed by the CODM is reported within the condensed consolidated balance sheets as consolidated total assets. The CODM uses consolidated net loss to monitor period-over-period results and decides where to allocate and invest additional resources within the business to continue growth.

The following is a summary of the significant expense categories and consolidated net loss details provided to the CODM (in thousands):

	Three Months Ended March 31,
	2025		2024
	(unaudited)
Total revenues	$	136,423	$	114,022
Less:
Stock based compensation	32,255		32,093
Other segment items (*)	139,951		122,419
Net loss	$	(35,783)	$	(40,490)

(*) Other segment expense items included within net loss include payroll, financial income, net (inclusive of interest income of $13,045 and $9,152 for the three months ended March 31, 2025 and 2024, respectively, and interest expense of $1,938 and $791 for the three months ended March 31, 2025 and 2024, respectively), marketing activities, overhead and depreciation ($2,392 and $2,528 for the three months ended March 31, 2025 and 2024, respectively), travel and entertainment, income taxes, information technology and communication, department activities, amortization of acquired intangibles and other miscellaneous expenses. See the condensed consolidated financial statements for other financial information regarding the Company’s operating segment.

The following is a summary of revenues within geographic areas (in thousands):

 

	Three Months Ended March 31,
	2025		2024
	(unaudited)
Revenues based on customer’s location:
United States	$	95,633	$	80,830
EMEA	28,394		24,153
Rest of the World	12,396		9,039
Total revenues	$	136,423	$	114,022

    

During the three months ended March 31, 2025 and 2024, respectively, there were no revenues to a single customer exceeding 10% of the Company's total revenues.

The following is a summary of long-lived assets, including property and equipment, net and operating lease right-of-use assets, within geographic areas (in thousands):

	As of		As of
	March 31, 2025		December 31, 2024
	(unaudited)
Long-lived assets by geographic region:
Israel	$	31,695	$	32,026
United States	30,981		31,725
Ireland	10,797		11,326
Other	1,140		1,311
	$	74,613	$	76,388