XML 29 R19.htm IDEA: XBRL DOCUMENT v3.25.1
Segment Reporting
3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
Operating segments are identified as components of an enterprise for which separate discrete financial information is available for evaluation by the chief operating decision maker (“CODM”) for purposes of making decisions regarding resource allocation and evaluating financial performance. As of the year ended March 31, 2025, the Company has determined that its Chief Executive Officer and Chief Financial Officer/Chief Operating Officer are the CODMs. The CODMs review the unaudited condensed consolidated results of operations when making decisions about allocating resources and assessing the performance of the Company as a whole as the Company is still in an early stage of business. The Company does not distinguish between markets or segments for the purpose of internal reporting. Accordingly, the Company has determined that it operates in a single operating and single reportable segment at the consolidated entity level. The CODMs use net loss and loss from operations as the key performance measures to make key operating decisions.
Revenues are based on the location where services are provided and products are sold. All of the Company’s revenues are attributable to the U.S. for the periods presented. Reported segment net loss and loss from operations for the Company’s single reportable segment are shown in the unaudited condensed consolidated statements of operations and comprehensive loss.
The following table presents the significant segment expenses that are regularly provided to the CODMs:
(in thousands)March 31, 2025March 31, 2024
Total revenues$5,430 $6,825 
Cost of revenue5,317 6,687 
Operating expenses:
Personnel Expenses4,662 6,066 
Other Expenses8,750 9,758 
Depreciation and amortization2,714 2,311 
Impairment of assets16,610 — 
Total operating expenses32,736 18,135 
Loss from operations$(32,623)$(17,997)
The personnel expenses represent payroll expenses excluding stock-based compensation. The other expenses represent research and development excluding personnel expenses, and general and administrative excluding personnel expenses.
Long-lived assets (excluding deferred tax assets) by geography
(in thousands)March 31, 2025December 31, 2024
United States$74,900 $82,530 
Non United States
154,005 155,702 
Total
$228,905 $238,232