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Segment Information (Tables)
3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
Summary of Segment Information

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

 

2023

 

 

2022

 

 

 

(in thousands, except percentage data)

 

 

Product

 

 

Software

 

 

Total

 

 

Product

 

 

Software

 

 

Total

 

Revenue

 

$

8,678

 

 

$

2,046

 

 

$

10,724

 

 

$

7,203

 

 

$

1,830

 

 

$

9,033

 

Cost of sales

 

 

6,700

 

 

 

678

 

 

 

7,378

 

 

 

6,078

 

 

 

676

 

 

 

6,754

 

Gross profit

 

 

1,978

 

 

 

1,368

 

 

 

3,346

 

 

 

1,125

 

 

 

1,154

 

 

 

2,279

 

Gross margin

 

 

23

%

 

 

67

%

 

 

31

%

 

 

16

%

 

 

63

%

 

 

25

%

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative

 

 

14,114

 

 

 

552

 

 

 

14,666

 

 

 

11,526

 

 

 

459

 

 

 

11,985

 

Research and development

 

 

2,927

 

 

 

567

 

 

 

3,494

 

 

 

4,431

 

 

 

419

 

 

 

4,850

 

Total operating expenses

 

 

17,041

 

 

 

1,119

 

 

 

18,160

 

 

 

15,957

 

 

 

878

 

 

 

16,835

 

Income (loss) from operations

 

$

(15,063

)

 

$

249

 

 

$

(14,814

)

 

$

(14,832

)

 

$

276

 

 

$

(14,556

)

Segment Assets

Segment Assets:

 

 

As of March 31, 2023

 

 

As of December 31, 2022

 

 

 

(in thousands)

 

Product

 

$

112,473

 

 

$

125,713

 

Software

 

 

11,439

 

 

 

11,572

 

Total

 

$

123,912

 

 

$

137,285