Note 15 - Segment Information

3 Months Ended

Mar. 31, 2026

Notes to Financial Statements

Segment Reporting [Text Block]

15. 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 reported on the condensed consolidated statements of income. The CODM uses net income to monitor budgeted versus actual results and to conduct competitive analysis by benchmarking against industry peers. Additionally, net income 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 March 31,
	2026		2025
	(in thousands)
Revenue:	$	117,242	$	93,064
Less:
People expenses		63,036		52,807
Stock-based compensation		7,270		9,620
Cloud and server hosting services expenses		13,383		9,482
Marketing expenses		3,967		4,126
Other segment items (1)		14,336		13,463
Net income	$	15,250	$	3,566

⁽¹⁾ The other segment items category includes professional services, rent, software maintenance, travel, depreciation and amortization, certain overhead expense, and mark-to-market of 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 March 31,
	2026		2025
	(in thousands)
Revenue:
North America	$	44,165	$	36,452
EMEA		38,446		29,484
APAC		34,631		27,128
Total revenue	$	117,242	$	93,064

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

	Three Months Ended March 31,
	2026		2025
	(in thousands)
Revenue:
United States	$	43,007	$	36,399
Germany		16,404		12,292
Singapore		15,409		11,512