| 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 September 30, |
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Nine Months Ended September 30, |
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2026 |
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2025 |
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2026 |
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2025 |
| Net revenue |
$ |
218,057 |
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$ |
126,459 |
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$ |
524,092 |
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$ |
331,205 |
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| Cost of net revenue |
89,987 |
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54,558 |
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219,475 |
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143,948 |
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| Gross profit |
128,070 |
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71,901 |
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304,617 |
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187,257 |
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| Less: |
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| Employee related |
69,749 |
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71,776 |
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213,419 |
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194,522 |
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| Depreciation and amortization |
3,891 |
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4,291 |
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11,760 |
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13,295 |
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| Design and prototype expenses |
15,986 |
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9,948 |
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40,686 |
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29,796 |
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| Professional fees |
3,706 |
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11,690 |
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16,690 |
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24,184 |
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| Occupancy expenses |
4,257 |
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4,221 |
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12,437 |
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12,735 |
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| Restructuring expenses |
254 |
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11,264 |
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792 |
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24,723 |
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| Interest and other (income) expense, net |
2,057 |
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2,099 |
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5,865 |
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11,093 |
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| Income tax expense (benefit) |
(732) |
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2,097 |
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17,443 |
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(1,307) |
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| Segment net income (loss) |
$ |
28,902 |
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$ |
(45,485) |
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$ |
(14,475) |
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$ |
(121,784) |
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