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Segments and Major Customers

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Segments and Major Customers

Segments and Major Customers

For the three and six months ended June 30, 2019, MID and RSD were reportable segments as each of them met the quantitative thresholds for disclosure as a reportable segment. The results of the remaining operating segments were shown under “Other.”

The Company evaluates the performance of its segments based on segment operating income (loss), which is defined as revenue minus segment operating expenses. Segment operating expenses are comprised of direct operating expenses.

Segment operating expenses do not include sales, general and administrative expenses and the allocation of certain expenses managed at the corporate level, such as stock-based compensation, amortization, and certain bonus and acquisition costs. The “Reconciling Items” category includes these unallocated sales, general and administrative expenses, as well as corporate level expenses.

The tables below present reported segment operating income (loss) for the three and six months ended June 30, 2019 and 2018, respectively.

	For the Three Months Ended June 30, 2019																For the Six Months Ended June 30, 2019
	MID				RSD				Other				Total				MID				RSD				Other				Total
	(In thousands)																(In thousands)
Revenues	$	45,452			$	12,845			$	—			$	58,297			$	79,942			$	26,739			$	—			$	106,681
Segment operating expenses	25,440				12,690				2,004				40,134				49,419				26,911				4,487				80,817
Segment operating income (loss)	$	20,012			$	155			$	(2,004	)		$	18,163			$	30,523			$	(172	)		$	(4,487	)		$	25,864
Reconciling items													(55,209		)														(94,319		)
Operating loss													$	(37,046	)														$	(68,455	)
Interest and other income (expense), net													4,438																9,580
Loss before income taxes													$	(32,608	)														$	(58,875	)

	For the Three Months Ended June 30, 2018																For the Six Months Ended June 30, 2018
	MID				RSD				Other				Total				MID				RSD				Other				Total
	(In thousands)																(In thousands)
Revenues	$	34,976			$	21,482			$	—			$	56,458			$	68,965			$	31,478			$	2,441			$	102,884
Segment operating expenses	22,597				14,893				3,209				40,699				45,546				27,678				8,840				82,064
Segment operating income (loss)	$	12,379			$	6,589			$	(3,209	)		$	15,759			$	23,419			$	3,800			$	(6,399	)		$	20,820
Reconciling items													(35,746		)														(84,420		)
Operating loss													$	(19,987	)														$	(63,600	)
Interest and other income (expense), net													3,615																8,310
Loss before income taxes													$	(16,372	)														$	(55,290	)

The Company’s CODM does not review information regarding assets on an operating segment basis. Additionally, the Company does not record intersegment revenue or expense.

Accounts receivable from the Company's major customers representing 10% or more of total accounts receivable at June 30, 2019 and December 31, 2018, respectively, was as follows:

		As of
Customer		June 30, 2019			December 31, 2018
Customer 1 (MID reportable segment)		30	%		39	%
Customer 2 (MID reportable segment)		11	%		*
Customer 3 (MID reportable segment)		*			12	%

_________________________________________

*    Customer accounted for less than 10% of total accounts receivable in the period

Revenue from the Company’s major customers representing 10% or more of total revenue for the three and six months ended June 30, 2019 and 2018, respectively, was as follows:

		Three Months Ended						Six Months Ended
		June 30,						June 30,
Customer		2019			2018			2019			2018
Customer A (MID reportable segment)		15	%		*			*			*
Customer B (MID and RSD reportable segment)		14	%		*			15	%		*
Customer C (MID reportable segment)		11	%		*			11	%		*
Customer D (MID and RSD reportable segments)		*			28	%		*			16	%
Customer E (MID and RSD reportable segments)		*			15	%		*			*
Customer F (MID reportable segment)		*			11	%		*			*
Customer G (MID reportable segment)		*			*			*			15	%

_________________________________________

*    Customer accounted for less than 10% of total revenue in the period

Revenue from customers in the geographic regions based on the location of contracting parties was as follows:

		Three Months Ended								Six Months Ended
		June 30,								June 30,
(In thousands)		2019				2018				2019				2018
Taiwan		$	12,760			$	348			$	14,861			$	16,458
South Korea		758				1,666				2,039				10,267
USA		29,964				29,864				64,203				41,085
Japan		2,527				12,278				5,146				16,312
Europe		2,640				3,605				6,015				7,471
Canada		1,423				1,885				2,481				3,295
Singapore		4,725				6,058				6,609				6,150
Asia-Other		3,500				754				5,327				1,846
Total		$	58,297			$	56,458			$	106,681			$	102,884

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- References

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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