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Segment Information (Tables)
9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
Summary of Segment Information

The Company’s segment information as of and for the nine months ended September 30, 2021 and 2020 is as follows (in thousands):

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30, 2021

 

 

September 30, 2021

 

 

 

Product

 

 

Software

 

 

Total

 

 

Product

 

 

Software

 

 

Total

 

Revenue

 

$

6,186

 

 

$

1,701

 

 

$

7,887

 

 

$

18,166

 

 

$

5,140

 

 

$

23,306

 

Cost of sales

 

 

5,260

 

 

 

578

 

 

 

5,838

 

 

 

15,668

 

 

 

1,754

 

 

 

17,422

 

Gross profit

 

 

926

 

 

 

1,123

 

 

 

2,049

 

 

 

2,498

 

 

 

3,386

 

 

 

5,884

 

Gross margin

 

 

15

%

 

 

66

%

 

 

26

%

 

 

14

%

 

 

66

%

 

 

25

%

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative

 

 

7,961

 

 

 

534

 

 

 

8,495

 

 

 

20,893

 

 

 

1,507

 

 

 

22,400

 

Research and development

 

 

4,214

 

 

 

419

 

 

 

4,633

 

 

 

13,075

 

 

 

1,235

 

 

 

14,310

 

Change in fair value of contingent earnout

 

 

19

 

 

 

 

 

 

19

 

 

 

12

 

 

 

 

 

 

12

 

Total operating expenses

 

 

12,194

 

 

 

953

 

 

 

13,147

 

 

 

33,980

 

 

 

2,742

 

 

 

36,722

 

Income (loss) from operations

 

$

(11,268

)

 

$

170

 

 

$

(11,098

)

 

$

(31,482

)

 

$

644

 

 

$

(30,838

)

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30, 2020

 

 

September 30, 2020

 

 

 

Product

 

 

Software

 

 

Total

 

 

Product

 

 

Software

 

 

Total

 

Revenue

 

$

4,675

 

 

$

1,457

 

 

$

6,132

 

 

$

10,690

 

 

$

3,990

 

 

$

14,680

 

Cost of sales

 

 

4,404

 

 

 

527

 

 

 

4,931

 

 

 

10,973

 

 

 

1,577

 

 

 

12,550

 

Gross profit

 

 

271

 

 

 

930

 

 

 

1,201

 

 

 

(283

)

 

 

2,413

 

 

 

2,130

 

Gross margin

 

 

6

%

 

 

64

%

 

 

20

%

 

 

(3

)%

 

 

60

%

 

 

15

%

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative

 

 

5,363

 

 

 

439

 

 

 

5,802

 

 

 

18,044

 

 

 

1,379

 

 

 

19,423

 

Research and development

 

 

4,560

 

 

 

360

 

 

 

4,920

 

 

 

13,463

 

 

 

1,088

 

 

 

14,551

 

Change in fair value of contingent earnout

 

 

30

 

 

 

 

 

 

30

 

 

 

(478

)

 

 

 

 

 

(478

)

Total operating expenses

 

 

9,953

 

 

 

799

 

 

 

10,752

 

 

 

31,029

 

 

 

2,467

 

 

 

33,496

 

Income (loss) from operations

 

$

(9,682

)

 

$

131

 

 

$

(9,551

)

 

$

(31,312

)

 

$

(54

)

 

$

(31,366

)

 

Segment Assets

Segment Assets:

 

 

 

As of September 30, 2021

 

 

As of December 31, 2020

 

Product

 

$

32,133

 

 

$

64,021

 

Software

 

 

11,283

 

 

 

12,120

 

Total

 

$

43,416

 

 

$

76,141