Note 17 - Segment Information

6 Months Ended

Jun. 30, 2025

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

17. 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 financial information with respect to the Company’s single operating segment for the three and six months ended June 30, 2025 and 2024 (in thousands):

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2025			2024			2025			2024
Revenue	$	28,219		$	30,724		$	54,387		$	59,746
Cost of product revenue		13,856			10,235			25,343			20,282
Gross Profit		14,363			20,489			29,044			39,464
Operating expenses:
Research & development		6,313			6,682			12,372			13,091
Selling, general & administrative		12,230			15,617			25,136			30,688
Total operating expenses		18,543			22,299			37,508			43,779
Loss from operations		(4,180	)		(1,810	)		(8,464	)		(4,315	)
Interest and other income, net		214			595			629			1,187
Loss before income taxes		(3,966	)		(1,215	)		(7,835	)		(3,128	)
Provision for income taxes		681			1,326			770			1,369
Loss from continuing operations		(4,647	)		(2,541	)		(8,605	)		(4,497	)
Loss from discontinued operations, net of tax		677			2,453			(238	)		(105	)
Net loss	$	(3,970	)	$	(88	)	$	(8,843	)	$	(4,602	)