Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION

v3.24.3
SEGMENT INFORMATION
9 Months Ended
Sep. 30, 2024
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 for the three months ended September 30, 2024

    

Americas

    

EMEA

    

APAC

    

Total

Products

$

20,820

6,968

4,151

$

31,939

Services

 

2,565

1,688

213

 

4,466

Total

$

23,385

$

8,656

$

4,364

$

36,405

Revenue for the three months ended September 30, 2023

    

Americas

    

EMEA

    

APAC

    

Total

Products

$

25,630

$

7,980

$

3,892

$

37,502

Services

 

2,826

 

2,081

 

341

 

5,248

Total

$

28,456

$

10,061

$

4,233

$

42,750

Revenue for the nine months ended September 30, 2024

    

Americas

    

EMEA

    

APAC

Total

Products

$

65,286

22,915

10,780

$

98,981

Services

 

10,562

5,621

773

 

16,956

Total

$

75,848

$

28,536

$

11,553

$

115,937

Revenue for the nine months ended September 30, 2023

    

Americas

    

EMEA

    

APAC

    

Total

Products

$

79,233

$

30,634

$

11,730

$

121,597

Services

 

8,719

 

5,875

 

1,161

 

15,755

Total

$

87,952

$

36,509

$

12,891

$

137,352

During the three and nine months ended September 30, 2024 and 2023, 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):

Three Months Ended

Nine Months Ended

September 30, 

September 30, 

2024

    

2023

    

2024

    

2023

Revenue recognized at a point in time

$

31,939

$

37,502

$

98,981

$

121,597

Revenue recognized over time

 

4,466

 

5,248

 

16,956

 

15,755

Total

$

36,405

$

42,750

$

115,937

$

137,352

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):

September 30, 

December 31, 

2024

2023

Americas

$

28,744

$

46,390

EMEA

14,017

13,320

APAC

5,525

5,853

Total long-lived assets

$

48,286

$

65,563