| 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 |
|
|
Nine Months Ended |
|
| |
|
September 30, |
|
|
September 30, |
|
| |
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
| Revenues |
|
$ |
16,214 |
|
|
$ |
15,022 |
|
|
$ |
44,125 |
|
|
$ |
43,314 |
|
| Less: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of sales |
|
|
11,857 |
|
|
|
9,101 |
|
|
|
26,341 |
|
|
|
28,402 |
|
| Amortization of contract fulfillment assets |
|
|
908 |
|
|
|
896 |
|
|
|
2,592 |
|
|
|
2,595 |
|
| Other cost of sales |
|
|
1,633 |
|
|
|
793 |
|
|
|
4,175 |
|
|
|
2,214 |
|
| Research and development |
|
|
181 |
|
|
|
715 |
|
|
|
2,723 |
|
|
|
1,728 |
|
| Sales and marketing |
|
|
2,452 |
|
|
|
3,045 |
|
|
|
9,136 |
|
|
|
8,756 |
|
| General and administrative, excluding legal fees |
|
|
2,712 |
|
|
|
2,415 |
|
|
|
7,649 |
|
|
|
6,799 |
|
| Legal fees |
|
|
451 |
|
|
|
433 |
|
|
|
1,576 |
|
|
|
1,138 |
|
| Impairment of contract fulfillment assets |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
3,217 |
|
| Interest expense, net |
|
|
522 |
|
|
|
— |
|
|
|
1,002 |
|
|
|
17 |
|
| Other (income) expense, net |
|
|
161 |
|
|
|
19 |
|
|
|
340 |
|
|
|
203 |
|
| Income tax expense |
|
|
90 |
|
|
|
117 |
|
|
|
361 |
|
|
|
279 |
|
| Consolidated segment net income (loss) |
|
$ |
(4,753 |
) |
|
$ |
(2,512 |
) |
|
$ |
(11,770 |
) |
|
$ |
(12,034 |
) |
|
| 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 |
|
|
Nine Months Ended |
|
| |
|
September 30, |
|
|
September 30, |
|
| |
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
| United States |
|
$ |
11,762 |
|
|
$ |
11,667 |
|
|
$ |
34,215 |
|
|
$ |
27,999 |
|
| Asia Pacific |
|
|
10 |
|
|
|
98 |
|
|
|
581 |
|
|
|
7,831 |
|
| Canada |
|
|
2,618 |
|
|
|
3,180 |
|
|
|
5,453 |
|
|
|
7,364 |
|
| Europe and Middle East |
|
|
1,824 |
|
|
|
77 |
|
|
|
3,876 |
|
|
|
120 |
|
| Total net revenues |
|
$ |
16,214 |
|
|
$ |
15,022 |
|
|
$ |
44,125 |
|
|
$ |
43,314 |
|
|
| 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
September
30,
|
|
|
Nine
Months Ended
September
30,
|
|
| |
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
| Customer
A |
|
|
31 |
% |
|
|
37 |
% |
|
|
45 |
% |
|
|
40 |
% |
| Customer
B |
|
|
20 |
% |
|
|
16 |
% |
|
|
16 |
% |
|
|
12 |
% |
| Customer
C (related party) |
|
|
-*
|
|
|
|
-*
|
|
|
|
-*
|
|
|
|
18 |
% |
| Customer
D |
|
|
-*
|
|
|
|
11 |
% |
|
|
-*
|
|
|
|
-*
|
|
| * |
Customer
revenue did not exceed 10% in the respective period. |
|