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Operating Segments and Enterprise-Wide Information
 6 Months Ended
Jun. 29, 2024
Segment Reporting [Abstract]  
Operating Segments and Enterprise-Wide Information Operating Segments and Enterprise-Wide Information
Our CODM is our Chief Executive Officer, who reviews operating results to make decisions about allocating resources and assessing performance for the entire company. We operate in two reportable segments consisting of the Probe Cards segment and the Systems segment. The following table summarizes the operating results by reportable segment (dollars in thousands):
Three Months Ended
June 29, 2024July 1, 2023
Probe CardsSystemsCorporate and OtherTotalProbe CardsSystemsCorporate and OtherTotal
Revenues$166,792 $30,682 $— $197,474 $115,303 $40,613 $— $155,916 
Gross profit 75,239 14,177 (2,516)86,900 42,112 21,124 (2,953)60,283 
Gross margin45.1 %46.2 %44.0 %36.5 %52.0 %38.7 %
Six Months Ended
June 29, 2024July 1, 2023
Probe CardsSystemsCorporate and OtherTotalProbe CardsSystemsCorporate and OtherTotal
Revenues$303,493 $62,706 $— $366,199 $242,631 $80,733 $— $323,364 
Gross profit126,030 28,683 (5,075)149,638 85,735 41,870 (6,244)121,361 
Gross margin41.5 %45.7 %40.9 %35.3 %51.9 %37.5 %

Operating results provide useful information to our management for assessment of our performance and results of operations. Certain components of our operating results are utilized to determine compensation along with other measures.

Corporate and Other includes unallocated expenses relating to amortization of intangible assets, inventory and fixed asset fair value adjustments due to acquisitions, share-based compensation, and restructuring charges which are not used in evaluating the results of, or in allocating resources to, our reportable segments.
Certain revenue category information by reportable segment was as follows (in thousands):
Three Months Ended
June 29, 2024July 1, 2023
Probe CardsSystemsTotalProbe CardsSystemsTotal
Market:
Foundry & Logic$103,660 $— $103,660 $81,967 $— $81,967 
DRAM58,042 — 58,042 30,464 — 30,464 
Flash5,090 — 5,090 2,872 — 2,872 
Systems— 30,682 30,682 — 40,613 40,613 
Total$166,792 $30,682 $197,474 $115,303 $40,613 $155,916 
Timing of revenue recognition:
Products transferred at a point in time$165,492 $28,129 $193,621 $112,985 $40,040 $153,025 
Products and services transferred over time1,300 2,553 3,853 2,318 573 2,891 
Total$166,792 $30,682 $197,474 $115,303 $40,613 $155,916 
Geographical region:
South Korea$48,691 $416 $49,107 $26,455 $1,408 $27,863 
United States39,435 8,456 47,891 31,131 11,542 42,673 
Taiwan40,192 4,621 44,813 25,316 4,196 29,512 
China20,311 4,776 25,087 16,516 6,992 23,508 
Europe3,250 5,565 8,815 2,415 8,401 10,816 
Japan4,513 3,098 7,611 3,902 4,030 7,932 
Malaysia5,084 1,518 6,602 6,177 500 6,677 
Singapore4,112 410 4,522 1,718 1,105 2,823 
Rest of World1,204 1,822 3,026 1,673 2,439 4,112 
Total$166,792 $30,682 $197,474 $115,303 $40,613 $155,916 
Six Months Ended
June 29, 2024July 1, 2023
Probe CardsSystemsTotalProbe CardsSystemsTotal
Market:
Foundry & Logic$190,428 $— $190,428 $183,529 $— $183,529 
DRAM103,938 — 103,938 50,354 — 50,354 
Flash9,127 — 9,127 8,748 — 8,748 
Systems— 62,706 62,706 — 80,733 80,733 
Total$303,493 $62,706 $366,199 $242,631 $80,733 $323,364 
Timing of revenue recognition:
Products transferred at a point in time$301,133 $56,913 $358,046 $236,903 $79,510 $316,413 
Products and services transferred over time2,360 5,793 8,153 5,728 1,223 6,951 
Total$303,493 $62,706 $366,199 $242,631 $80,733 $323,364 
Geographical region:
South Korea$99,363 $461 $99,824 $46,027 $2,611 $48,638 
United States75,031 18,626 93,657 55,772 24,632 80,404 
Taiwan67,371 7,319 74,690 64,213 5,628 69,841 
China28,997 11,703 40,700 34,992 15,615 50,607 
Japan8,860 7,293 16,153 11,038 7,871 18,909 
Singapore7,628 1,652 9,280 4,918 3,245 8,163 
Europe6,778 10,886 17,664 5,841 14,401 20,242 
Malaysia6,692 1,773 8,465 16,501 1,446 17,947 
Rest of the world2,773 2,993 5,766 3,329 5,284 8,613 
Total$303,493 $62,706 $366,199 $242,631 $80,733 $323,364