| Schedule of Revenue Significant Expenses and Other Segment Items |
The
following table details the revenues, significant expenses and other segment items regularly provided to and reviewed by the CODM:
Schedule of Revenue Significant Expenses and Other Segment Items
| |
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
| |
|
Three Months Ended |
|
|
Six Months Ended |
|
| |
|
June 30, |
|
|
June 30, |
|
| |
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
| Revenues |
|
$ |
11,190 |
|
|
$ |
11,516 |
|
|
$ |
27,911 |
|
|
$ |
28,292 |
|
| Less: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of sales |
|
|
7,845 |
|
|
|
6,812 |
|
|
|
14,484 |
|
|
|
19,301 |
|
| Amortization of contract fulfillment assets |
|
|
751 |
|
|
|
830 |
|
|
|
1,684 |
|
|
|
1,699 |
|
| Other cost of sales |
|
|
1,749 |
|
|
|
905 |
|
|
|
2,542 |
|
|
|
1,421 |
|
| Research and development |
|
|
909 |
|
|
|
557 |
|
|
|
2,542 |
|
|
|
1,013 |
|
| Sales and marketing |
|
|
3,445 |
|
|
|
3,219 |
|
|
|
6,684 |
|
|
|
5,711 |
|
| General and administrative, excluding legal fees |
|
|
2,512 |
|
|
|
1,994 |
|
|
|
4,937 |
|
|
|
4,384 |
|
| Legal fees |
|
|
711 |
|
|
|
452 |
|
|
|
1,125 |
|
|
|
705 |
|
| Impairment of contract fulfillment assets |
|
|
— |
|
|
|
3,217 |
|
|
|
— |
|
|
|
3,217 |
|
| Interest expense, net |
|
|
389 |
|
|
|
17 |
|
|
|
480 |
|
|
|
17 |
|
| Other (income) expense, net |
|
|
215 |
|
|
|
92 |
|
|
|
179 |
|
|
|
184 |
|
| Income tax expense |
|
|
139 |
|
|
|
37 |
|
|
|
271 |
|
|
|
162 |
|
| Consolidated segment net income (loss) |
|
$ |
(7,475 |
) |
|
$ |
(6,616 |
) |
|
$ |
(7,017 |
) |
|
$ |
(9,522 |
) |
|
| Schedule of Revenue by Region |
The
following table summarizes total net revenues by region based on ship-to destinations:
Schedule of Revenue by Region
| |
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
| |
|
Three Months Ended |
|
|
Six Months Ended |
|
| |
|
June 30, |
|
|
June 30, |
|
| |
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
| United States |
|
$ |
9,685 |
|
|
$ |
9,066 |
|
|
$ |
22,453 |
|
|
$ |
16,332 |
|
| Asia Pacific |
|
|
42 |
|
|
|
70 |
|
|
|
571 |
|
|
|
7,733 |
|
| Canada |
|
|
453 |
|
|
|
2,378 |
|
|
|
2,835 |
|
|
|
4,184 |
|
| Europe and Middle East |
|
|
1,010 |
|
|
|
2 |
|
|
|
2,052 |
|
|
|
43 |
|
| Total net revenues |
|
$ |
11,190 |
|
|
$ |
11,516 |
|
|
$ |
27,911 |
|
|
$ |
28,292 |
|
|
| Schedule of Concentrations of Risk |
Revenue
from customers with concentration greater than 10% accounted for approximately the following percentage of net revenues:
Schedule
of Concentrations of Risk
| |
|
Three Months Ended
June 30, |
|
|
Six Months Ended
June 30, |
|
| |
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
| Customer A |
|
|
44 |
% |
|
|
55 |
% |
|
|
53 |
% |
|
|
41 |
% |
| Customer B |
|
|
26 |
% |
|
|
13 |
% |
|
|
14 |
% |
|
|
10 |
% |
| Customer C (related party) |
|
|
-* |
|
|
|
-* |
|
|
|
*-
|
|
|
|
27 |
% |
| * |
Customer revenue did not exceed 10% in the respective
period. |
|