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Operating Segments and Enterprise-Wide Information
 9 Months Ended
Sep. 27, 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
September 27, 2025September 28, 2024
Probe CardsSystemsCorporate and OtherTotalProbe CardsSystemsCorporate and OtherTotal
Revenues$166,380 $36,296 $— $202,676 $172,174 $35,743 $— $207,917 
Cost of revenues98,451 21,052 (2,547)122,050 99,319 20,905 (2,988)123,212 
Gross profit67,929 15,244 (2,547)80,626 72,855 14,838 (2,988)84,705 
Gross margin40.8 %42.0 %39.8 %42.3 %41.5 %40.7 %
Research and development21,785 4,404 2,497 28,686 23,259 5,166 2,818 31,243 
Selling7,621 3,445 1,552 12,618 8,198 4,363 1,443 14,004 
Marketing1,620 1,803 1,199 4,622 1,873 1,847 429 4,149 
Net contribution$36,903 $5,592 $(7,795)34,700 $39,525 $3,462 $(7,678)35,309 
General and administrative15,731 17,454 
Factory start-up costs964 — 
Operating income18,005 17,855 
Interest income, net1,976 3,650 
Other income (expense), net444 (558)
Income before income taxes and equity investment$20,425 $20,947 
Nine Months Ended
September 27, 2025September 28, 2024
Probe CardsSystemsCorporate and OtherTotalProbe CardsSystemsCorporate and OtherTotal
Revenues$465,008 $104,822 $— $569,830 $475,667 $98,449 $— $574,116 
Cost of revenues283,396 60,792 (7,555)351,743 276,782 54,928 (8,063)339,773 
Gross profit181,612 44,030 (7,555)218,087 198,885 43,521 (8,063)234,343 
Gross margin39.1 %42.0 %38.3 %41.8 %44.2 %40.8 %
Research and development
63,815 13,633 7,831 85,279 67,817 15,572 8,045 91,434 
Selling
21,368 10,529 5,722 37,619 23,771 12,123 4,510 40,404 
Marketing
4,798 5,426 3,652 13,876 6,698 5,331 3,892 15,921 
Net contribution
$91,631 $14,442 $(24,760)81,313 $100,599 $10,495 $(24,510)86,584 
General and administrative
46,412 50,235 
Factory start-up costs1,321 — 
Gain on sale of business— 20,581 
Operating income33,580 56,930 
Interest income, net7,935 10,221 
Other income (expense), net
1,328 322 
Income before income taxes and equity investment
$42,843 $67,473 

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, factory start-up costs, 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
September 27, 2025September 28, 2024
Probe CardsSystemsTotalProbe CardsSystemsTotal
Market:
Foundry & Logic$92,933 $— $92,933 $107,446 $— $107,446 
DRAM68,182 — 68,182 60,184 — 60,184 
Flash5,265 — 5,265 4,544 — 4,544 
Systems— 36,296 36,296 — 35,743 35,743 
Total$166,380 $36,296 $202,676 $172,174 $35,743 $207,917 
Timing of revenue recognition:
Products transferred at a point in time$164,573 $33,649 $198,222 $166,968 $34,292 $201,260 
Products and services transferred over time1,807 2,647 4,454 5,206 1,451 6,657 
Total$166,380 $36,296 $202,676 $172,174 $35,743 $207,917 
Geographical region:
South Korea$68,644 $2,158 $70,802 $40,870 $858 $41,728 
Taiwan35,917 10,994 46,911 42,105 5,817 47,922 
United States26,802 9,573 36,375 45,015 10,000 55,015 
China7,760 3,905 11,665 27,367 7,146 34,513 
Japan8,406 2,979 11,385 3,734 4,322 8,056 
Singapore8,697 1,240 9,937 4,726 749 5,475 
Europe2,441 4,922 7,363 2,149 5,607 7,756 
Malaysia5,633 181 5,814 4,458 822 5,280 
Rest of World2,080 344 2,424 1,750 422 2,172 
Total$166,380 $36,296 $202,676 $172,174 $35,743 $207,917 
Nine Months Ended
September 27, 2025September 28, 2024
Probe CardsSystemsTotalProbe CardsSystemsTotal
Market:
Foundry & Logic$277,718 $— $277,718 $297,874 $— $297,874 
DRAM174,097 — 174,097 164,122 — 164,122 
Flash13,193 — 13,193 13,671 — 13,671 
Systems— 104,822 104,822 — 98,449 98,449 
Total$465,008 $104,822 $569,830 $475,667 $98,449 $574,116 
Timing of revenue recognition:
Products transferred at a point in time$459,846 $95,227 $555,073 $464,668 $94,638 $559,306 
Products and services transferred over time5,162 9,595 14,757 10,999 3,811 14,810 
Total$465,008 $104,822 $569,830 $475,667 $98,449 $574,116 
Geographical region:
South Korea$166,689 $4,413 $171,102 $140,233 $1,319 $141,552 
Taiwan123,478 21,674 145,152 109,476 13,136 122,612 
United States87,435 30,189 117,624 120,046 28,626 148,672 
Japan20,665 15,705 36,370 12,594 11,615 24,209 
China20,545 14,135 34,680 56,364 18,849 75,213 
Singapore19,057 3,808 22,865 12,354 2,401 14,755 
Europe9,200 13,192 22,392 8,927 16,493 25,420 
Malaysia13,297 272 13,569 11,150 2,595 13,745 
Rest of the world4,642 1,434 6,076 4,523 3,415 7,938 
Total$465,008 $104,822 $569,830 $475,667 $98,449 $574,116