Note 15 - Segments and Geographic Areas

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

15. Segments and Geographic Areas

The Company operates in one business segment—the research, development, and sale of medical device robotics to digitize and improve minimally invasive surgery. The Company’s chief operating decision maker (determined to be the Chief Executive Officer), does not manage any part of the Company separately, and the allocation of resources and assessment of performance are based on the Company’s consolidated operating results.

The following table presents consolidated assets and long-lived assets by geographic area, which includes property and equipment, intellectual property, and operating lease assets:

	September 30, 2022
	Long-Lived Assets			Total Assets
U.S.		38	%		78	%
EMEA
Switzerland		44	%		18	%
Italy		8	%		1	%
Other		8	%		2	%
Total EMEA		60	%		21	%
Asia		2	%		1	%
Total		100	%		100	%

	December 31, 2021
	Long-Lived Assets			Total Assets
U.S.		26	%		77	%
EMEA
Switzerland		34	%		16	%
Italy		36	%		5	%
Other		4	%		1	%
Total EMEA		74	%		22	%
Asia		0	%		1	%
Total		100	%		100	%

The Company recognizes sales by geographic area based on the country in which the customer is based. For the three months ended September 30, 2022 and 2021, 7% and 9%, respectively, of net revenue were generated in the United States; while 86% and 82%, respectively, were generated in Europe; and 7% and 9%, respectively, were generated in Asia. For the nine months ended September 30, 2022 and 2021, 13% and 13%, respectively, of net revenue were generated in the United States; while 72% and 55%, respectively, were generated in Europe; and 15% and 32%, respectively, were generated in Asia.