Segment and Related Information

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Segment and Related Information

Segment and Related Information

The Company operates in one segment. There have been no changes to the Company’s reportable segment, the identification of the Chief Operating Decision Maker, or the methodology used to assess segment performance since the filing of our 2024 Annual Report.

The following table presents revenues and significant segment expenses:

	Three Months Ended March 31,
(in thousands)	2025		2024
Total revenues, net	$	103,859	$	70,073
Less:
Subscription service cost of sales(1)	21,178		13,138
Hardware cost of sales(1)	16,385		14,049
Professional service cost of sales(1)	10,002		11,119
Sales and marketing(1)	11,456		10,651
General and administrative(1)	21,541		17,666
Research and development(1)	18,829		15,085
Depreciation and amortization	8,623		6,361
Stock-based compensation	7,181		4,410
Transaction costs	1,155		3,405
Amortization of identifiable intangible assets	3,259		932
Operating loss	$	(15,750)	$	(26,743)
Other segment items(2)	(8,600)		8,455
Net loss	$	(24,350)	$	(18,288)

(1) These amounts exclude stock-based compensation expense, depreciation and amortization expense, and transaction costs, which are presented separately as additional significant segment expenses.

(2) Other segment items include other (expense) income, net, loss on extinguishment of debt, interest expense, net, (provision for) benefit from income taxes, and net income from discontinued operations. See the condensed consolidated statements of operations for additional information on these amounts.

The following table represents revenues by country based on the location of the revenue:

	Three Months Ended March 31,
(in thousands)	2025		2024
United States	$	87,535	$	64,533
International	16,324		5,540
Total	$	103,859	$	70,073

The following table represents assets by country based on the location of the assets:

(in thousands)	March 31, 2025		December 31, 2024
United States	$	608,565	$	599,945
International	772,984		780,782
Total	$	1,381,549	$	1,380,727

Customers accounting for 10% or more of the Company’s total revenues are summarized as follows:

	Three Months Ended March 31,
	2025		2024
McDonald’s Corporation	19	%	10	%
Yum! Brands, Inc.	7	%	12	%
Dairy Queen	8	%	10	%
All Others	66	%	68	%
Total	100	%	100	%

No other customer within "All Others" accounted for 10% or more of the Company’s total revenue for the three months ended March 31, 2025 or 2024.