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Operating Segments and Enterprise-Wide Information
 9 Months Ended
Sep. 28, 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
September 28, 2024September 30, 2023
Probe CardsSystemsCorporate and OtherTotalProbe CardsSystemsCorporate and OtherTotal
Revenues$172,174 $35,743 $— $207,917 $128,339 $43,236 $— $171,575 
Gross profit 72,855 14,838 (2,988)84,705 49,383 22,396 (2,494)69,285 
Gross margin42.3 %41.5 %40.7 %38.5 %51.8 %40.4 %
Nine Months Ended
September 28, 2024September 30, 2023
Probe CardsSystemsCorporate and OtherTotalProbe CardsSystemsCorporate and OtherTotal
Revenues$475,667 $98,449 $— $574,116 $370,970 $123,969 $— $494,939 
Gross profit198,885 43,521 (8,063)234,343 135,118 64,266 (8,738)190,646 
Gross margin41.8 %44.2 %40.8 %36.4 %51.8 %38.5 %

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
September 28, 2024September 30, 2023
Probe CardsSystemsTotalProbe CardsSystemsTotal
Market:
Foundry & Logic$107,446 $— $107,446 $96,366 $— $96,366 
DRAM60,184 — 60,184 27,478 — 27,478 
Flash4,544 — 4,544 4,495 — 4,495 
Systems— 35,743 35,743 — 43,236 43,236 
Total$172,174 $35,743 $207,917 $128,339 $43,236 $171,575 
Timing of revenue recognition:
Products transferred at a point in time$166,968 $34,292 $201,260 $127,731 $41,776 $169,507 
Products and services transferred over time5,206 1,451 6,657 608 1,460 2,068 
Total$172,174 $35,743 $207,917 $128,339 $43,236 $171,575 
Geographical region:
United States$45,015 $10,000 $55,015 $31,182 $12,543 $43,725 
Taiwan42,105 5,817 47,922 39,155 3,820 42,975 
South Korea40,870 858 41,728 31,805 3,270 35,075 
China27,367 7,146 34,513 10,779 10,971 21,750 
Japan3,734 4,322 8,056 2,976 3,988 6,964 
Europe2,149 5,607 7,756 2,583 6,713 9,296 
Singapore4,726 749 5,475 2,752 925 3,677 
Malaysia4,458 822 5,280 5,778 186 5,964 
Rest of World1,750 422 2,172 1,329 820 2,149 
Total$172,174 $35,743 $207,917 $128,339 $43,236 $171,575 
Nine Months Ended
September 28, 2024September 30, 2023
Probe CardsSystemsTotalProbe CardsSystemsTotal
Market:
Foundry & Logic$297,874 $— $297,874 $279,895 $— $279,895 
DRAM164,122 — 164,122 77,832 — 77,832 
Flash13,671 — 13,671 13,243 — 13,243 
Systems— 98,449 98,449 — 123,969 123,969 
Total$475,667 $98,449 $574,116 $370,970 $123,969 $494,939 
Timing of revenue recognition:
Products transferred at a point in time$464,668 $94,638 $559,306 $368,939 $116,981 $485,920 
Products and services transferred over time10,999 3,811 14,810 2,031 6,988 9,019 
Total$475,667 $98,449 $574,116 $370,970 $123,969 $494,939 
Geographical region:
United States$120,046 $28,626 $148,672 $86,954 $37,175 $124,129 
South Korea140,233 1,319 141,552 77,832 5,881 83,713 
Taiwan109,476 13,136 122,612 103,368 9,448 112,816 
China56,364 18,849 75,213 45,771 26,586 72,357 
Europe8,927 16,493 25,420 8,424 21,114 29,538 
Japan12,594 11,615 24,209 14,014 11,859 25,873 
Singapore12,354 2,401 14,755 7,670 4,170 11,840 
Malaysia11,150 2,595 13,745 22,279 1,632 23,911 
Rest of the world4,523 3,415 7,938 4,658 6,104 10,762 
Total$475,667 $98,449 $574,116 $370,970 $123,969 $494,939