Annual report pursuant to Section 13 and 15(d)

SEGMENT INFORMATION

v3.24.0.1
SEGMENT INFORMATION
12 Months Ended
Dec. 31, 2023
SEGMENT INFORMATION  
SEGMENT INFORMATION

22. SEGMENT INFORMATION

In its operation of the business, management, including the Company’s chief operating decision maker, who is also Chief Executive Officer, reviews the business as one segment. The Company currently ships its product to markets in the Americas, Europe Middle East and Africa (“EMEA”), and Asia Pacific (“APAC”). Disaggregated revenue data for those markets is as follows (in thousands):

Revenue during the year ended December 31, 2023

    

Americas

    

EMEA

    

APAC

Total

Products

$

107,000

$

47,015

$

14,076

$

168,091

Services

 

12,769

 

7,380

 

1,458

21,607

Total

$

119,769

$

54,395

$

15,534

$

189,698

Revenue during the year ended December 31, 2022

    

Americas

    

EMEA

    

APAC

    

Total

Products

$

124,778

$

48,981

$

16,489

$

190,248

Services

 

11,324

 

6,159

 

1,292

18,775

Total

$

136,102

$

55,140

$

17,781

$

209,023

Revenue during the year ended December 31, 2021

    

Americas

    

EMEA

    

APAC

    

Total

Products

$

71,875

$

22,404

$

11,715

$

105,994

Services

 

4,087

 

1,693

 

634

 

6,414

Total

$

75,962

$

24,097

$

12,349

$

112,408

During the years ended December 31, 2023, 2022 and 2021, the Company recognized the following revenue from service contracts and cloud-based software licenses over time, and hardware and consumable product shipments and subscription software at a point in time (in thousands):

Years Ended

December 31, 

2023

    

2022

    

2021

Revenue recognized at a point in time

$

168,091

$

190,248

$

105,994

Revenue recognized over time

 

21,607

 

18,775

 

6,414

Total

$

189,698

$

209,023

$

112,408

The Company’s operations are principally in the United States. The locations of long-lived assets, including property, plant and equipment, net and operating lease right-of-use assets, are summarized as follows (in thousands):

Years Ended December 31, 

2023

    

2022

Americas

$

46,390

$

56,145

EMEA

13,320

16,399

APAC

5,853

5,874

Total long-lived assets

$

65,563

$

78,418