Segment Reporting

6 Months Ended

Jun. 30, 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 Chief Operating Decision Maker (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 statements 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						Six Months Ended
	June 30,						June 30,
	2025			2024			2025			2024
Revenue by customers' geographic locations:
North America		49	%		49	%		49	%		49	%
Europe		38	%		38	%		36	%		36	%
APAC/Other		13	%		13	%		15	%		15	%
Total revenue		100	%		100	%		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				Six Months Ended
	June 30,				June 30,
	2025		2024		2025		2024
Total revenue	$	182,366	$	158,839	$	351,538	$	312,021
Costs and operating expenses:
Cost of goods sold		91,224		77,314		169,639		153,705
Research and development		13,958		10,575		26,882		21,813
Sales and marketing		26,666		24,977		50,622		48,212
General and administrative		36,622		40,504		83,921		79,072
Total costs and operating expenses		168,470		153,370		331,064		302,802
Other income, net		4,319		3,558		5,684		3,503
Income tax provision		3,349		3,314		5,462		3,713
Net income	$	14,866	$	5,713	$	20,696	$	9,009

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 June 30, 2025 and December 31, 2024, the Company had no investments associated with foreign exchange contracts or options contracts. As of June 30, 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 customer represented 10% or more of the Company's total revenue for each of the three and six months ended June 30, 2025 and 2024.

One customer represented 10% of the Company's total trade accounts receivable at June 30, 2025, and no customer represented 10% or more of the Company's total trade accounts receivable at December 31, 2024.