Note 18 - Segment Information

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

18. Segment information

The Company manages its business activities on a consolidated basis and operates in a single operating segment. Its products and services are sold throughout the world, through direct and indirect sales channels. The Company’s chief operating decision maker (the “CODM”) is the Chief Executive Officer. The CODM makes operating performance assessment and resource allocation decisions on a consolidated basis. The CODM does not review assets in evaluating the results of the segment.

The accounting policies of the segment are the same as those described in “Note 2 - Summary of Significant Accounting Policies”. The CODM assesses performance for the consolidated entity and decides how to allocate resources based on net income (loss) reported on the consolidated statements of operations. The CODM uses net income (loss) to monitor budgeted versus actual results and to conduct competitive analysis by benchmarking against industry peers. Additionally, net income (loss) serves as a basis for making strategic decisions, such as acquisitions and reinvestments into business, and establishing management compensation linked to segment performance.

The following table sets forth the information about the Company’s reported segment revenue, segment profit or loss, and significant segment expenses:

	Year Ended December 31,
	2024			2023			2022
	(in thousands)
Revenue:	$	330,482		$	271,825		$	232,339
Less:
People expenses		185,686			163,138			154,387
Stock based compensation		39,059			36,048			37,218
Cloud and server hosting services expenses		32,496			29,188			22,574
Marketing expenses		12,709			12,400			12,746
Other segment items (1)		89,674			52,552			44,102
Net loss	$	(29,142	)	$	(21,501	)	$	(38,688	)

⁽¹⁾ The other segment items category includes professional services, rent, software maintenance, travel, depreciation and amortization, certain overhead expense, and mark-to-market of earn-out shares liabilities and warrant liabilities.

Revenue by geography is based upon the billing address of the customer. All transfers between geographic regions have been eliminated from consolidated revenue. The following table sets forth revenue by geographic area:

	Year Ended December 31,
	2024		2023		2022
	(in thousands)
Revenue:
North America	$	135,870	$	118,490	$	102,025
EMEA		99,256		81,753		71,635
APAC		95,356		71,582		58,679
Total revenue	$	330,482	$	271,825	$	232,339

The following table sets forth revenue generated by countries which represent more than 10% of total consolidated revenue:

	Year Ended December 31,
	2024		2023		2022
	(in thousands)
Revenue:
United States	$	135,288	$	115,799	$	100,870
Singapore		43,113		30,974		21,915
Germany		41,765		35,775		30,625

The following table sets forth property and equipment, net held within the United States, China and foreign countries:

	December 31,		December 31,
	2024		2023
	(in thousands)
Property and equipment, net:
United States	$	953	$	1,137
China		1,193		1,915
Other		3,143		2,066
Total property and equipment, net	$	5,289	$	5,118