Solana Co Segments Disclosure
14.SEGMENT AND GEOGRAPHIC INFORMATION
Segment Information
Operating segments are components of an enterprise for which separate financial information is available and are evaluated regularly by the Company’s chief operating decision maker (“CODM”) in deciding how to allocate resources and assessing performance. The Company’s CODM is its Chief Executive Officer. The Company’s Chief Executive Officer views the Company’s operations and manages its business in one operating segment, which is the business of development and commercialization of products related to PoNS® devices. The Company has a single reporting segment and the determination of the single segment is consistent with the information provided to the CODM. The CODM evaluates performance and allocates resources based on the Company’s consolidated financial results.
Geographic Information
The following table presents the Company’s revenue disaggregated by geographic area (in thousands):
Years Ended | ||||||
2024 |
| 2023 | ||||
Product sales, net: | ||||||
United States | $ | 181 | $ | 324 | ||
Canada | 295 | 281 | ||||
Total product sales, net | 476 | 605 | ||||
Other revenue |
| 44 |
| 39 | ||
Total revenue | $ | 520 | $ | 644 | ||
Two customers accounted for 72% and 65% of net product sales for the years ended December 31, 2024 and 2023, respectively. Two customers accounted for 100% of accounts receivable, net as of December 31, 2024 and a single customer accounted for 83% of accounts receivable, net as of December 31, 2023.
Long-lived assets are held in the United States and Canada with the majority of long-lived assets being held in the United States as of December 31, 2024 and 2023. As of December 31, 2024, the carrying value of long-lived assets held in Canada is $0.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2024 | Mar 25, 2025 | Showing above |
| 2023 | Mar 28, 2024 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.