Note 19 - Segment Information

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

19. Segment Information

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision-maker (“CODM”) in deciding how to allocate resources and assess performance. The Company operates in one business segment. The Company’s CODM is its President and Chief Executive Officer, who reviews financial information presented on a consolidated basis. The CODM’s financial review is focused on the consolidated financial results of the Company which is used as the basis for financial performance assessment and allocation of resources.

The following table presents selected financial information with respect to the Company’s single operating segment for the years ended December 31, 2024, 2023 and 2022 (in thousands):

	For the Years Ended December 31,
	2024			2023			2022
Revenue	$	119,907		$	120,792		$	113,827
Cost of revenue		43,909			38,260			40,607
Gross profit		75,998			82,532			73,220
Operating expenses:
Research & development		25,544			21,763			18,321
Selling, general & administrative		55,555			59,925			51,229
Total operating expenses		81,099			81,688			69,550
(Loss) income from operations		(5,101	)		844			3,670
Interest and other income (expense), net		2,337			2,312			654
(Loss) income before income taxes		(2,764	)		3,156			4,324
Provision for (benefit from) for income taxes		6,064			6,595			2,124
(Loss) income from continuing operations		(8,828	)		(3,439	)		2,200
Loss from discontinued operations		(47,557	)		(79,228	)		(17,059	)
Net loss	$	(56,385	)	$	(82,667	)	$	(14,859	)

Total U.S revenues were $82.4 million, $86.9 million and $83.7 million for the years ended December 31, 2024, 2023 and 2022, respectively. See Note 13 Revenue and Geographic Information for additional information about revenue by region.