Note 16 - Segment Information

6 Months Ended

Jun. 30, 2025

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

16. 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 CODM assesses performance for the consolidated entity and decides how to allocate resources based on net income (loss) reported on the consolidated statements of income (loss). 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 the 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:

	Three Months Ended June 30,					Six Months Ended June 30,
	2025		2024			2025		2024
	(in thousands)
Revenue:	$	102,018	$	77,961		$	195,082	$	152,495
Less:
People expenses		54,936		45,704			107,743		91,319
Stock-based compensation		11,143		10,538			20,763		19,996
Cloud and server hosting services expenses		10,712		7,429			20,194		15,161
Marketing expenses		3,687		3,236			7,813		5,975
Other segment items (1)		18,647		23,992			32,110		34,936
Net income (loss)	$	2,893	$	(12,938	)	$	6,459	$	(14,892	)

⁽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:

	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
	(in thousands)
Revenue:
North America	$	39,571	$	31,697	$	76,023	$	61,592
EMEA		31,822		23,089		61,306		45,895
APAC		30,625		23,175		57,753		45,008
Total revenue	$	102,018	$	77,961	$	195,082	$	152,495

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
	(in thousands)
Revenue:
United States	$	39,167	$	31,529	$	75,566	$	61,226
Germany		13,203		9,394		25,495		19,288
Singapore		13,793		10,230		25,305		20,709