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Operating Segments and Enterprise-Wide Information
 3 Months Ended
Mar. 29, 2025
Segment Reporting [Abstract]  
Operating Segments and Enterprise-Wide Information Operating Segments and Enterprise-Wide Information
We operate in two reportable segments consisting of the Probe Cards segment and the Systems segment.

Our chief operating decision maker (“CODM”) is our President and Chief Executive Officer, who assesses the reportable segments' performance by using each reportable segment's net contribution to make decisions about allocating resources and assessing performance for the entire company. The CODM uses net contribution for each reportable segment predominantly in the annual budget and forecasting process, as well as consideration of budget-to-actual variances on a quarterly basis when making decisions for assessment of our performance and results of operations. Certain components of net contribution are utilized to determine executive compensation along with other measures.

The following table provides net contribution by reportable segment and includes a reconciliation to net income before income taxes (dollars in thousands):
Three Months Ended
March 29, 2025March 30, 2024
Probe CardsSystemsCorporate and OtherTotalProbe CardsSystemsCorporate and OtherTotal
Revenues$136,520 $34,836 $— $171,356 $136,701 $32,024 $— $168,725 
Cost of revenues84,905 19,321 (2,607)106,833 85,910 17,518 (2,559)105,987 
Gross profit51,615 15,515 (2,607)64,523 50,791 14,506 (2,559)62,738 
Gross margin37.8 %44.5 %37.7 %37.2 %45.3 %37.2 %
Research and development21,056 3,968 2,776 27,800 20,848 5,166 2,613 28,627 
Selling6,566 3,660 2,801 13,027 7,220 3,586 1,700 12,506 
Marketing1,580 1,741 1,126 4,447 1,918 1,660 1,702 5,280 
Net contribution$22,413 $6,146 $(9,310)19,249 $20,805 $4,094 $(8,574)16,325 
General and administrative15,980 15,293 
Gain on sale of business— 20,271 
Operating income3,269 21,303 
Interest income3,416 3,258 
Interest expense(99)(102)
Other income, net890 520 
Income before income taxes$7,476 $24,979 

Corporate and Other includes unallocated expenses relating to amortization of stock-based compensation expense, intangible assets, acquisition-related costs, including charges related to fixed assets stepped up to fair value, restructuring charges, and other costs, which are not used in evaluating the results of, or in allocating resources to, our reportable segments. Acquisition-related costs include transaction costs and any costs directly related to the acquisition and integration of acquired businesses.

Net contribution represents Operating income excluding general and administrative expenses and gains on sale of business, 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
March 29, 2025March 30, 2024
Probe CardsSystemsTotalProbe CardsSystemsTotal
Market:
Foundry & Logic$85,272 $— $85,272 $86,768 $— $86,768 
DRAM48,858 — 48,858 45,896 — 45,896 
Flash2,390 — 2,390 4,037 — 4,037 
Systems— 34,836 34,836 — 32,024 32,024 
Total$136,520 $34,836 $171,356 $136,701 $32,024 $168,725 
Timing of revenue recognition:
Products transferred at a point in time$134,721 $31,335 $166,056 $135,641 $28,784 $164,425 
Products and services transferred over time1,799 3,501 5,300 1,060 3,240 4,300 
Total$136,520 $34,836 $171,356 $136,701 $32,024 $168,725 
Geographical region:
Taiwan$40,747 $4,615 $45,362 $27,179 $2,698 $29,877 
South Korea42,209 962 43,171 50,672 45 50,717 
United States27,784 12,541 40,325 35,596 10,170 45,766 
China8,152 5,463 13,615 8,686 6,927 15,613 
Japan5,179 5,140 10,319 4,347 4,195 8,542 
Europe3,535 4,246 7,781 3,528 5,321 8,849 
Singapore4,871 1,378 6,249 3,516 1,242 4,758 
Malaysia2,552 48 2,600 1,608 255 1,863 
Rest of World1,491 443 1,934 1,569 1,171 2,740 
Total$136,520 $34,836 $171,356 $136,701 $32,024 $168,725