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Segment Information (Tables)
3 Months Ended
Mar. 31, 2022
Segment Reporting [Abstract]  
Summary of Segment Information

The following tables present the Company’s segment information for the three months ended March 31:

 

 

2022

 

 

2021

 

 

 

(in thousands, except percentage data)

 

 

 

Product

 

 

Software

 

 

Total

 

 

Product

 

 

Software

 

 

Total

 

Revenue

 

$

7,203

 

 

$

1,830

 

 

$

9,033

 

 

$

5,809

 

 

$

1,618

 

 

$

7,427

 

Cost of sales

 

 

6,078

 

 

 

676

 

 

 

6,754

 

 

 

5,075

 

 

 

610

 

 

 

5,685

 

Gross profit

 

 

1,125

 

 

 

1,154

 

 

 

2,279

 

 

 

734

 

 

 

1,008

 

 

 

1,742

 

Gross margin

 

 

16

%

 

 

63

%

 

 

25

%

 

 

13

%

 

 

62

%

 

 

23

%

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative

 

 

11,526

 

 

 

459

 

 

 

11,985

 

 

 

6,066

 

 

 

458

 

 

 

6,524

 

Research and development

 

 

4,431

 

 

 

419

 

 

 

4,850

 

 

 

4,639

 

 

 

407

 

 

 

5,046

 

Change in fair value of contingent earnout

 

 

 

 

 

 

 

 

 

 

 

14

 

 

 

 

 

 

14

 

Total operating expenses

 

 

15,957

 

 

 

878

 

 

 

16,835

 

 

 

10,719

 

 

 

865

 

 

 

11,584

 

Income (loss) from operations

 

$

(14,832

)

 

$

276

 

 

$

(14,556

)

 

$

(9,985

)

 

$

143

 

 

$

(9,842

)

Segment Assets egment Assets:

 

 

As of March 31, 2022

 

 

As of December 31, 2021

 

 

 

(in thousands)

 

Product

 

$

87,992

 

 

$

104,588

 

Software

 

 

10,883

 

 

 

10,911

 

Total

 

$

98,875

 

 

$

115,499