| Segment Reporting |
Segment Reporting
The following table presents segment revenue, gross profit, and net income (loss) for the periods presented (in thousands):
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
| Net revenue |
$ |
168,847 |
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$ |
108,813 |
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$ |
306,035 |
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$ |
204,746 |
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| Cost of net revenue |
71,184 |
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47,288 |
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129,488 |
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89,390 |
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| Gross profit |
97,663 |
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61,525 |
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176,547 |
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115,356 |
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| Less: |
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| Employee related |
76,501 |
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55,643 |
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143,670 |
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122,746 |
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| Depreciation and amortization |
3,853 |
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4,541 |
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7,869 |
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9,004 |
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| Design and prototype expenses |
12,866 |
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10,177 |
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24,700 |
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19,848 |
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| Professional fees |
4,494 |
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5,983 |
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12,984 |
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12,494 |
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| Occupancy expenses |
4,070 |
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4,216 |
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8,180 |
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8,514 |
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| Restructuring expenses |
64 |
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5,580 |
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538 |
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13,459 |
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| Interest and other (income) expense, net |
2,365 |
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6,086 |
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3,808 |
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8,994 |
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| Income tax expense (benefit) |
(8,310) |
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(4,115) |
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18,175 |
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(3,404) |
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| Segment net income (loss) |
$ |
1,760 |
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$ |
(26,586) |
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$ |
(43,377) |
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$ |
(76,299) |
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