v3.26.1
Segment and Related Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment and Related Information Segment and Related Information
The Company operates in one segment. There have been no changes to the Company’s reportable segment, the identification of the Chief Operating Decision Maker, or the methodology used to assess segment performance since the filing of our 2025 Annual Report.

The following table presents revenues and significant segment expenses:

Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2026202520262025
Total revenues, net$133,410 $112,404 $257,383 $216,263 
Less:
Subscription service cost of sales(1)
29,193 24,138 56,440 45,316 
Hardware cost of sales(1)
27,876 19,447 50,729 35,832 
Professional service cost of sales(1)
11,392 9,571 22,979 19,573 
Sales and marketing(1)
11,229 11,918 23,204 23,374 
General and administrative(1)
20,352 23,938 43,796 45,479 
Research and development(1)
21,262 19,836 42,206 38,665 
Depreciation and amortization9,113 9,021 17,694 17,644 
Stock-based compensation6,759 7,887 13,962 15,068 
Transaction costs10 561 604 1,716 
Amortization of identifiable intangible assets3,725 3,394 7,156 6,653 
Other segment item(2)
5,400 — 5,400 — 
Operating loss$(12,901)$(17,307)$(26,787)$(33,057)
Other segment items(3)
(3,995)(3,733)(6,278)(12,333)
Net loss$(16,896)$(21,040)$(33,065)$(45,390)

(1) These amounts exclude stock-based compensation expense, depreciation and amortization expense, and transaction costs, which are presented separately as additional significant segment expenses.
(2) Other segment item includes intangible asset impairment loss. See the condensed consolidated statements of operations for additional information on this amount.
(3) Other segment items include other income (expense), net; gain (loss) on extinguishment of debt, net; interest expense, net; provision for income taxes; and net income from discontinued operations. See the condensed consolidated statements of operations for additional information on these amounts.
The following table presents revenues by geographic area based on the location of the customer:

Three Months Ended
June 30,		Six Months Ended
June 30,
(in thousands)2026202520262025
United States$111,240 $92,852 $214,143 $180,387 
International22,170 19,552 43,240 35,876 
Total$133,410 $112,404 $257,383 $216,263 

The following table presents long-lived assets, which consist of property, plant, and equipment, net and lease right-of-use assets, by geographic area based on the location of the assets:

(in thousands)June 30, 2026December 31, 2025
United States$14,869 $15,369 
International6,003 6,093 
Total$20,872 $21,462 
Customers accounting for 10% or more of the Company’s total revenues are summarized as follows:

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
McDonald’s Corporation27 %18 %26 %18 %
All Others73 %82 %74 %82 %
Total100 %100 %100 %100 %

No other customer within "All Others" accounted for 10% or more of the Company’s total revenue for the three and six months ended June 30, 2026 or 2025.