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Segment Reporting
 6 Months Ended
Jul. 31, 2023
Segment Reporting [Abstract]  
Segment Reporting

14. Segment Reporting

The Company operates in one operating and reporting segment related to the development and sales of low-power, HD, Ultra HD video compression, image processing and computer vision solutions. The Chief Executive Officer of the Company has been identified as the Chief Operating Decision Maker (the CODM) and manages the Company’s operations as a whole. For the purpose of evaluating financial performance and allocating resources, the CODM reviews financial information presented on a consolidated basis accompanied by information by customer and geographic region.

Geographic Revenue

The following table sets forth the Company’s revenue by geographic region based on bill-to location for the periods indicated. Certain prior quarter amounts of revenue by geographic region have been adjusted to reflect the appropriate bill-to location for the related revenue. These adjustments did not impact the total revenues in any of the periods presented.

 

 

Three Months Ended July 31,

 

 

Six Months Ended July 31,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

 

 

(in thousands)

 

Taiwan

 

$

33,482

 

 

$

48,132

 

 

$

64,116

 

 

$

99,289

 

Asia Pacific

 

 

15,473

 

 

 

17,858

 

 

 

31,078

 

 

 

39,415

 

Europe

 

 

2,673

 

 

 

4,536

 

 

 

6,189

 

 

 

13,162

 

North America other than United States

 

 

8,498

 

 

 

5,991

 

 

 

19,375

 

 

 

13,060

 

United States

 

 

1,995

 

 

 

4,367

 

 

 

3,505

 

 

 

6,263

 

Total revenue

 

$

62,121

 

 

$

80,884

 

 

$

124,263

 

 

$

171,189

 

 

Substantially all of the Company’s property and equipment were located in the Asia Pacific region, United States and Europe. As of July 31, 2023, the net amount of these fixed assets located in these regions was approximately $5.6 million, $4.3 million and $1.3 million, respectively. As of January 31, 2023, the net amount of these fixed assets located in these regions was approximately $6.3 million, $4.0 million and $1.5 million, respectively.

Major Customers

Customers representing 10% or more of revenue and accounts receivable were WT and Chicony. WT serves as the Company’s non-exclusive sales representative and fulfillment partner in Asia other than Japan, and Chicony is an ODM that manufactures devices incorporating the Company’s solutions on behalf of multiple end-customers. These two customers accounted for approximately 53.9% and 13.7% of total revenue for the three months ended July 31, 2023, respectively, and accounted for approximately 51.5% and 14.8% of total revenue for the six months ended July 31, 2023, respectively. These two customers accounted for approximately 59.4% and 12.9% of total revenue for the three months ended July 31, 2022, respectively, and accounted for approximately 57.9% and 12.1% of total revenue for the six months ended July 31, 2022, respectively. Accounts receivable with WT and Chicony were approximately $12.2 million and $8.8 million as of July 31, 2023, respectively.