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Revenue (Tables)
9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following table presents total revenues by geographic area based on the location products were shipped to and services provided (in thousands):
Three Months Ended September 30,Nine months ended September 30,
2025202420252024
Americas$26,348 $17,267 $66,312 $41,461 
Asia and Pacific(1)
7,455 4,271 26,092 14,986 
Europe, Middle East and Africa5,722 6,537 14,802 24,562 
Total$39,525 $28,075 $107,206 $81,009 
(1) In the nine months ended September 30, 2025, the Company recognized $1.5 million of patent royalty revenue from a long-term IP license agreement. Patent royalty revenue recognized in the three months ended September 30, 2025 was not material.
Schedules of Concentration of Credit Risk
Accounts receivable from the Company’s major customers representing 10% or more of total accounts receivable and unbilled receivable was as follows:
September 30,
2025
December 31,
2024
Customer A24 %39 %
Customer E31 %*
*Customer accounted for less than 10% of total accounts receivable in the period.
Revenue from the Company’s major customers representing 10% or more of total revenue was as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Customer D*12 %**
Customer E36 %20 %26 %16 %
Customer G*12 %**
*Customer accounted for less than 10% of total revenue in the period.
Purchases from the Company’s suppliers and vendors representing 10% or more of total purchases were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Supplier A*15 %10 %17 %
Supplier B29 %22 %26 %22 %
*Supplier accounted for less than 10% of total purchases in the period.
Accounts payable to the Company’s major suppliers and professional services vendors representing 10% or more of total accounts payable were as follows:
September 30, 2025December 31, 2024
Supplier A15 %18 %
Supplier B44 %55 %
Countries that accounted for more than 10% of total revenue was as follows:
Three Months Ended September 30,Nine months ended September 30,
2025202420252024
United States65 %58 %60 %47 %
Sweden***11 %
*Country accounted for less than 10% of total revenue in the period.
Schedule of Contract Liabilities
Contract assets and liabilities are presented net at the individual contract level in the unaudited condensed consolidated balance sheet and are classified as current or non-current based on the nature of the underlying contractual rights and obligations. The following table presents our contract liabilities (in thousands):
September 30,
2025
December 31,
2024
Contract liabilities, current
Deferred revenues from multi-year licensing agreements$9,614 $10,922 
Other contract liabilities19,575 23,429 
Contract liabilities, non-current portion
Deferred revenues from multi-year licensing agreements$463 $627 
Other contract liabilities2,863 1,911 
Total contract liabilities$32,515 $36,889 
The following table provides information about contract liabilities (remaining performance obligations) and the significant changes in the balances (in thousands):
Nine Months Ended September 30,
20252024
Beginning balance$36,889 $17,852 
Net revenue deferred in the period5,984 9,405 
Revenue recognized that was included in the contract liability balance at the beginning of the period(10,358)(1,780)
Ending balance$32,515 $25,477