Segment Reporting

9 Months Ended

Sep. 30, 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 September 30, 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:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2025		2024		2025		2024
Total revenues	$	4,657	$	8,202	$	15,900	$	22,060
Cost of revenue	4,500		8,141		15,448		21,654
Operating expenses:
Personnel Expenses	4,643		5,877		13,909		17,839
Other Expenses	9,402		8,597		25,914		28,110
Depreciation and amortization	2,836		2,822		8,332		7,946
Impairment of assets	210		15,170		16,820		15,170
Total operating expenses	17,091		32,466		64,975		69,065
Loss from operations	$	(16,934)	$	(32,405)	$	(64,523)	$	(68,659)

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)	September 30, 2025		December 31, 2024
United States	$	88,231	$	82,530
Non United States	154,569		155,702
Total	$	242,800	$	238,232