Segment Information

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Segment Information

Segment Information

We operate in two reportable segments consisting of the Laser Products segment and the Advanced Development segment. The following table summarizes the operating results by reportable segment for the periods presented (dollars in thousands):

	Three Months Ended September 30, 2021
	Laser Products			Advanced Development			Corporate and Other		Totals
Revenue	$	54,393		$	17,842		$	—	$	72,235
Gross profit	$	20,940		$	1,195		$	(740)	$	21,395
Gross margin	38.5		%	6.7		%	NM		29.6		%

	Nine Months Ended September 30, 2021
	Laser Products			Advanced Development			Corporate and Other		Totals
Revenue	$	155,289		$	47,404		$	—	$	202,693
Gross profit	$	58,241		$	2,904		$	(1,780)	$	59,365
Gross margin	37.5		%	6.1		%	NM		29.3		%

	Three Months Ended September 30, 2020
	Laser Products			Advanced Development			Corporate and Other		Totals
Revenue	$	51,117		$	10,615		$	—	$	61,732
Gross profit	$	16,977		$	688		$	(505)	$	17,160
Gross margin	33.2		%	6.5		%	NM		27.8		%

	Nine Months Ended September 30, 2020
	Laser Products			Advanced Development			Corporate and Other		Totals
Revenue	$	133,151		$	23,934		$	—	$	157,085
Gross profit	$	39,198		$	1,708		$	(1,189)	$	39,717
Gross margin	29.4		%	7.1		%	NM		25.3		%

Corporate and Other is unallocated expenses related to stock-based compensation.

There have been no material changes to the geographic locations of our long‑lived assets, net, based on the location of the assets, as disclosed in our Annual Report on Form 10-K for the year ended December 31, 2020.