Segment Reporting

12 Months Ended

Dec. 31, 2024

Segment Reporting

Segment Reporting

Note 18 – Segment Reporting

The Company adopted ASU 2023-07 during the year ended December 31, 2024 retrospectively to all periods presented in the consolidated financial statements. The Company has one reportable segment managed on a consolidated basis by the Chief Executive Officer (CEO) who is the chief operating decision maker (“CODM”). In identifying one reportable segment, the Company considered the basis of organization for the design and development and commercialization of ablation technologies for the treatment of cardiac arrhythmias.

The accounting policies of the segment are the same as those described in the summary of significant accounting policies. The CODM assesses performance and decides how to allocate resources based on consolidated net loss as reported in the consolidated statements of operations and comprehensive loss. There are no other expense categories regularly provided to the CODM that are not already included in the consolidated statements of operations and comprehensive loss. The measure of segment assets is reported on the balance sheet as cash, cash equivalents and money market accounts.

Summary of segment net loss, including significant segment expenses were as follows:

	Years Ended December 31
	2024				2023
	Successor		Predecessor		Predecessor
	July 31 to December 31		January 1 to July 30		January 1 to December 31
Revenue	$	269	$	333	$	300
Less:
Cost of revenue		1,937		1,381		1,306
Research and development		4,634		7,585		15,399
Selling, general, and administrative		6,976		13,047		11,537
Impairment - Goodwill		30,324		—		—
Impairment - Intangible assets, net		18,878		—		—
Other income (expense), net		8,717		402		(8,648)
Net loss	$	(53,763)	$	(21,278)	$	(36,590)