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Segment Information (Tables)
12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Summary of Segment Information

The following tables present the Company’s segment information as of and for the years ended December 31:

 

 

 

2021

 

 

2020

 

 

 

(in thousands, except percentage data)

 

 

 

Product

 

 

Software

 

 

Total

 

 

Product

 

 

Software

 

 

Total

 

Revenue

 

$

25,811

 

 

$

7,386

 

 

$

33,197

 

 

$

17,338

 

 

$

6,013

 

 

$

23,351

 

Cost of sales

 

 

21,992

 

 

 

2,869

 

 

 

24,861

 

 

 

17,152

 

 

 

2,314

 

 

 

19,466

 

Gross profit

 

 

3,819

 

 

 

4,517

 

 

 

8,336

 

 

 

186

 

 

 

3,699

 

 

 

3,885

 

Gross margin

 

 

15

%

 

 

61

%

 

 

25

%

 

 

1

%

 

 

62

%

 

 

17

%

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative

 

 

31,781

 

 

 

2,132

 

 

 

33,913

 

 

 

24,794

 

 

 

1,901

 

 

 

26,695

 

Research and development

 

 

16,959

 

 

 

1,609

 

 

 

18,568

 

 

 

19,027

 

 

 

1,434

 

 

 

20,461

 

Change in fair value of contingent earnout

 

 

261

 

 

 

 

 

 

261

 

 

 

(473

)

 

 

 

 

 

(473

)

Total operating expenses

 

 

49,001

 

 

 

3,741

 

 

 

52,742

 

 

 

43,348

 

 

 

3,335

 

 

 

46,683

 

Income (loss) from operations

 

$

(45,182

)

 

$

776

 

 

$

(44,406

)

 

$

(43,162

)

 

$

364

 

 

$

(42,798

)

Depreciation

Depreciation:

 

 

 

2021

 

 

2020

 

 

 

(in thousands)

 

Product

 

$

1,409

 

 

$

2,059

 

Software

 

 

17

 

 

 

20

 

Total

 

$

1,426

 

 

$

2,079

 

Segment Assets

Segment Assets:

 

 

 

2021

 

 

2020

 

 

 

(in thousands)

 

Product

 

$

104,588

 

 

$

64,021

 

Software

 

 

10,911

 

 

 

12,120

 

Total

 

$

115,499

 

 

$

76,141