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Segment Reporting
 12 Months Ended
Jan. 31, 2024
Segment Reporting [Abstract]  
Segment Reporting

16. 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 year 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.

 

 

Year Ended January 31,

 

 

 

2024

 

 

2023

 

 

2022

 

 

 

(in thousands)

 

Taiwan

 

$

119,601

 

 

$

191,692

 

 

$

205,079

 

Asia Pacific

 

 

58,506

 

 

 

73,476

 

 

 

81,623

 

Europe

 

 

11,949

 

 

 

26,921

 

 

 

18,459

 

North America other than United States

 

 

25,754

 

 

 

32,901

 

 

 

21,572

 

United States

 

 

10,664

 

 

 

12,616

 

 

 

5,123

 

Total revenue

 

$

226,474

 

 

$

337,606

 

 

$

331,856

 

 

Substantially all of the Company’s property and equipment were located in the Asia Pacific region, United States and Europe. As of January 31, 2024, the net amount of these fixed assets located in these regions was approximately $5.3 million, $3.9 million and $1.2 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

The customers representing 10% or more of revenue for the fiscal years ended January 31, 2024, 2023 and 2022 were Wintech and Chicony. For the fiscal years ended January 31, 2024, 2023 and 2022, Wintech accounted for approximately 53%, 57% and 62% of total revenue, respectively. For the fiscal years ended January 31, 2024, 2023 and 2022, Chicony accounted for approximately 14%, 12% and 13% of total revenue, respectively. Accounts receivable with Wintech and Chicony were approximately $10.3 million and $7.0 million as of January 31, 2024, respectively. Accounts receivable with Wintech and Chicony were approximately $21.0 million and $9.4 million as of January 31, 2023, respectively.