Quarterly report [Sections 13 or 15(d)]

Summary of Significant Accounting Policies (Tables)

v3.25.3
Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2025
Accounting Policies [Abstract]  
Summary of cash, cash equivalents, and restricted cash

The following table shows components of cash, cash equivalents, and restricted cash reported on the condensed consolidated balance sheets and in the condensed consolidated statements of cash flows as of the dates indicated:

 

 

September 30,

 

 

December 31,

 

 

2025

 

 

2024

 

Cash and cash equivalents

 

$

20,312

 

 

$

19,206

 

Restricted cash included in other long-term assets

 

 

578

 

 

 

478

 

 

$

20,890

 

 

$

19,684

 

Schedule of Company's Assets and Operations by Region

The Company also operates globally, and a substantial portion of its assets are located in certain geographic regions. As of September 30, 2025, the allocation of the Company's assets by region was as follows:

 

 

September 30, 2025

 

 

December 31, 2024

 

EMEA(1)

 

 

76

%

 

 

62

%

Americas

 

 

24

%

 

 

38

%

Total

 

 

100

%

 

 

100

%

(1)
United Kingdom represented 47% and 43% as of September 30, 2025 and December 31, 2024, respectively. Germany represented 17% as of September 30, 2025. Luxembourg represented 12% and 10% as of September 30, 2025 and December 31, 2024, respectively.
Summary of customers whose revenue and accounts receivable balances The following customers represented 10% or more of the Company’s total revenue and total accounts receivable for each of the following periods:

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

Revenue:

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Customer A (1)

 

 

35

%

 

 

20

%

 

 

21

%

 

 

22

%

Customer B

 

 

13

%

 

 

12

%

 

 

10

%

 

*

 

Customer C

 

*

 

 

*

 

 

 

10

%

 

*

 

Customer D

 

*

 

 

*

 

 

*

 

 

 

11

%

* Revenue from customer was less than 10% of total revenue during the applicable period.

(1) Consists of multiple U.S. government agencies, of which one government agency represented greater than 10% of total revenue for the three months ended September 30, 2024.

 

Accounts Receivable:

 

September 30, 2025

 

 

December 31, 2024

 

Customer B

 

 

23

%

 

*

 

Customer C

 

*

 

 

 

13

%

Customer E

 

*

 

 

 

13

%

* Accounts receivable from customer was less than 10% of total accounts receivable during the applicable period.