Segment Reporting

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Segment Reporting

15.Segment Reporting

Operating segments are components of an enterprise that engage in business activities for which discrete financial information is available and regularly reviewed by the CODM in deciding how to allocate resources and assess performance. Our CEO has been identified as the CODM.

The Company views its operations, makes decisions regarding how to allocate resources and manages its business as one reportable segment and one reporting unit. Net income as reported on the condensed consolidated statement of comprehensive income is the measure of segment profit or loss used by the CODM in allocating resources and assessing performance. Total assets for the operating segment is the amount presented on the condensed consolidated balance sheets.

The following table represents the Company’s total revenue by customers’ geographic locations:

	Three Months Ended
	March 31,
	2025			2024
Revenue by customers' geographic locations:
North America		50	%		49	%
Europe		35	%		34	%
APAC/Other		15	%		17	%
Total revenue		100	%		100	%

The following table presents the Company’s significant segment expenses which are regularly provided to the CODM for the single reportable segment:

	Three Months Ended
	March 31,
	2025		2024
Total revenue	$	169,172	$	153,182
Costs and operating expenses:
Cost of goods sold		78,415		76,391
Research and development		12,924		11,238
Sales and marketing		23,956		23,235
General and administrative		47,299		38,568
Total costs and operating expenses		162,594		149,432
Other income (expenses), net		1,365		(55	)
Income tax provision		2,113		399
Net income	$	5,830	$	3,296

Concentrations of Credit Risk and Significant Customers

Financial instruments that subject the Company to significant concentrations of credit risk primarily consist of cash and cash equivalents, marketable securities, accounts receivable, and foreign exchange forward contracts. Per the Company’s investment policy, cash equivalents and marketable securities are invested in financial instruments with high credit ratings. Additionally, the policy limits the credit exposure to any one issuer (with the exception of U.S. treasury obligations) and the types of instruments held. As of March 31, 2025 and December 31, 2024, the Company had no investments associated with foreign exchange contracts or options contracts. As of March 31, 2025 and December 31, 2024, the Company used derivative financial instruments to manage exposure to foreign exchange risk on certain repayable intercompany loans with foreign subsidiaries, specifically foreign exchange forward contracts.

Concentration of credit risk with respect to accounts receivable is limited to customers to whom the Company makes significant sales. While a reserve for the potential write-off of accounts receivable is maintained, the Company has not written off any significant accounts to date. To control credit risk, the Company performs regular credit evaluations of its customers’ financial condition.

No one customer represented 10% or more of the Company's total revenue for the three months ended March 31, 2025 and 2024.

One customer represented 10% of the Company's total trade accounts receivable at March 31, 2025, and no one customer represented 10% or more of the Company's total trade accounts receivable at December 31, 2024.