Segment Information

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segment Information

Note 16. Segment Information

The Company operates as one operating segment. Operating segments are defined as components of an enterprise for which separate financial information is evaluated regularly by the chief operating decision-maker (“CODM”), consisting of the Company’s chief executive officer and the Company’s chief technology officer as a group, in deciding how to allocate resources and assess the Company’s financial and operational performance. In addition, the Company’s CODM evaluates the Company’s financial information and resources and assesses the performance of these resources on a consolidated basis. As a result, the Company has determined that the Company’s business operates in a single operating segment. The CODM uses net loss as the measure of profit and loss to allocate resources and assess performance. The CODM regularly reviews net loss as reported on the Company's consolidated statements of operations. Financial forecasts and budget to actual results used by the CODM to assess performance and allocate resources, as well as those used for strategic decisions related to headcount and capital expenditures are also reviewed on a consolidated basis. The CODM considers the impact of the significant segment expenses in the table below on net loss.

The measure of segment assets is reported on the balance sheet as total assets. The CODM does not review segment assets at a level other than as presented in the Company's consolidated balance sheets.

The table below presents the Company's consolidated operating results including segment expenses (in thousands):

	Year ended December 31,
	2024			2023			2022
Net revenues	$	9,065		$	4,312		$	4,192
Less:
Stock-based compensation expense (1)		23,708			23,675			24,247
Cost of revenue (excluding 1)		12,576			9,233			7,286
Research and development expenses (excluding 1)		86,010			85,743			92,390
General and administrative expenses (excluding 1)		27,384			26,630			26,098
Selling and marketing expenses (excluding 1)		6,259			6,819			6,126
Litigation settlement, net		11,500			—			—
Loss from Operations		(158,372	)		(147,788	)		(151,955	)
Financing charges (2)		—			(3,788	)		—
Fair value at issuance of Series A warrants (3)		—			(6,500	)		—
Change in fair value of warrant liabilities (4)		(1,486	)		(182	)		970
Interest income		7,712			8,925			3,707
Other income (expense), net (excluding 2,3 and 4)		56			—			(27	)
Income tax provision		(171	)		—			—
Net loss	$	(152,261	)	$	(149,333	)	$	(147,305	)

Revenues from External Customers

Revenues from customers outside the United States were 14%, 35%, and 29% of total revenues for the fiscal years ended December 31, 2024, 2023 and 2022, respectively.

Long-Lived Assets

The following table sets forth the Company’s property and equipment, net by geographic region (in thousands):

	Year Ended December 31,
	2024		2023
North America	$	6,645	$	8,675
Asia		3,687		3,154
EMEA		—		285
Total	$	10,332	$	12,114