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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues, net:        
Total revenues, net $ 96,754 $ 68,701 $ 244,977 $ 206,814
Cost of sales:        
Total cost of sales 53,723 43,567 143,860 141,582
Gross margin 43,031 25,134 101,117 65,232
Operating expenses:        
Sales and marketing 10,500 9,532 31,237 29,005
General and administrative 27,352 17,525 77,896 52,926
Research and development 17,821 14,660 49,826 43,863
Amortization of identifiable intangible assets 2,699 464 5,577 1,393
Adjustment to contingent consideration liability 0 0 (600) (7,500)
Gain on insurance proceeds (147) 0 (147) (500)
Total operating expenses 58,225 42,181 163,789 119,187
Operating loss (15,194) (17,047) (62,672) (53,955)
Other expense, net (1,400) (262) (1,710) (116)
Interest expense, net (3,417) (1,750) (6,755) (5,152)
Loss from continuing operations before (provision for) benefit from income taxes (20,011) (19,059) (71,137) (59,223)
(Provision for) benefit from income taxes (653) (175) 6,520 (873)
Net loss from continuing operations (20,664) (19,234) (64,617) (60,096)
Net income from discontinued operations 832 3,718 80,687 8,973
Net income (loss) $ (19,832) $ (15,516) $ 16,070 $ (51,123)
Net income (loss) per share (basic and diluted):        
Continuing operations, basic (in dollars per share) $ (0.58) $ (0.70) $ (1.90) $ (2.19)
Continuing operations, diluted (in dollars per share) (0.58) (0.70) (1.90) (2.19)
Discontinued operations, basic (in dollars per share) 0.02 0.14 2.38 0.33
Discontinued operations, diluted (in dollars per share) 0.02 0.14 2.38 0.33
Total, basic (in dollars per share) (0.56) (0.56) 0.48 (1.86)
Total, diluted (in dollars per share) $ (0.56) $ (0.56) $ 0.48 $ (1.86)
Weighted average shares outstanding, basic (in shares) 35,865 27,472 33,931 27,412
Weighted average shares outstanding, diluted (in shares) 35,865 27,472 33,931 27,412
Subscription service        
Revenues, net:        
Total revenues, net $ 59,909 $ 31,363 $ 143,160 $ 89,700
Cost of sales:        
Total cost of sales 26,789 15,497 66,424 46,655
Hardware        
Revenues, net:        
Total revenues, net 22,650 25,824 60,992 78,991
Cost of sales:        
Total cost of sales 16,878 19,295 46,587 63,002
Professional service        
Revenues, net:        
Total revenues, net 14,195 11,514 40,825 38,123
Cost of sales:        
Total cost of sales $ 10,056 $ 8,775 $ 30,849 $ 31,925