Segments

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segments

Segments

The Company’s CODM is the Chief Executive Officer. The Chief Executive Officer reviews financial information including revenue, expenses and net income presented on a consolidated basis, accompanied by certain supplemental information about significant expense categories for purposes of allocating resources and evaluating the Company’s financial performance. The Company operates as one reportable and operating segment, which relates to the sale and production of lidar sensor kits and there are no segment managers who are held accountable for operations, operating results and plans for levels or components below the consolidated unit level. The CODM assesses financial performance of the reportable segment and decides how to allocate resources based on net income that also is reported as net income attributable to the Company on the consolidated statements of income. Net income is also used by our chief operating decision maker to monitor actual results versus budget and prior periods amounts of our reportable segment and decide how to expand business or to return value to shareholders. The measure of the segment assets is reported on the balance sheet as total assets.

The following table reflects certain financial data for our reportable segment (in thousands):

	Year Ended December 31,
	2024		2023
Total revenue	$	111,101	$	83,279
Less(1):
Product manufacturing costs	57,951		51,830
Stock based compensation and amortization expense	6,377		4,498
Other costs(2)	6,313		18,637
Research and development	58,084		91,210
Sales and marketing	27,852		41,639
General and administrative	58,701		81,982
Goodwill impairment charges	—		166,675
Total other (income) expense, net	(7,669)		395
Provision for income tax expense	537		523
Net loss	$	(97,045)	$	(374,110)

(1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.

(2)Other costs primarily includes inventory excess and obsolescence, scrap, warranty, freight and other cost of revenue items.