XML 32 R23.htm IDEA: XBRL DOCUMENT
v3.26.1

SEGMENT INFORMATION | 6 Months Ended
--- | ---
Apr. 04, 2026
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION Reportable segments are defined as components of an enterprise that engage in business activities for which discrete financial information is available and regularly reviewed by the chief operating decision maker (the “CODM”) in deciding how to allocate resources and assess performance. The Company’s Interim Chief Executive Officer is the CODM. Our CODM evaluates performance and allocates resources primarily based on income from operations. This measure is regularly provided to and reviewed by our CODM to support budgeting, forecasting, and decisions regarding resource allocation for strategic initiatives across segments, capital investments, and workforce planning. While income from operations is the primary measure used by our CODM to allocate resources, our CODM regularly reviews materials that present revenue, cost of sales and significant operating expenses. Accordingly, we have disclosed these segment items in the tables below. The CODM does not review discrete asset information. Future changes to this internal financial structure may result in changes to our reportable segments. The Company has four reportable segments consisting of: (1) Ball Bonding Equipment, (2) Wedge Bonding Equipment, (3) Advanced Solutions, and (4) Aftermarket Products and Services (“APS”). The four reportable segments are disclosed below: Ball Bonding Equipment: Reflects the results of the Company from the design, development, manufacture and sale of ball bonding equipment and wafer level bonding equipment. Wedge Bonding Equipment: Reflects the results of the Company from the design, development, manufacture and sale of wedge and wedge-related bonding equipment. Advanced Solutions: Reflects the results of the Company from the design, development, manufacture and sale of die-attach and thermocompression systems and solutions. APS: Reflects the results of the Company from the design, development, manufacture and sale of a variety of tools, spares and services for our equipment. Any other operating segments that have not been aggregated within the reportable segments described above which do not meet the quantitative threshold to be disclosed as a separate reportable segment have been grouped within an “All Others” category. This group is reflective of the results of the Company from the design, development, manufacture and sale of advanced dispense, electronics assembly systems and solutions and related aftermarket spares and services. Results for the “All Others” category and other corporate expenses are included as a reconciling item between the Company’s reportable segments and its consolidated results of operations. The unallocated corporate expenses category includes certain operating expenses that are not allocated to our reportable segments and are managed separately at the corporate level. These operating expenses include costs related to certain management, finance, legal, human resources, and research and development functions provided at the corporate level. In addition, we do not allocate to our reportable segments severance costs related to restructuring actions. Segment operating income also excludes interest income/expenses, other financial charges and income taxes. Our CODM does not consider the unallocated costs in measuring the performance of the reportable segments. The following table reflects operating information by segment for the three and six months ended April 4, 2026 and March 29, 2025:
(in thousands) | Three months ended April 4, 2026 |
| Reportable segments |  | Reconciling items |  |  |
| Ball Bonding Equipment |  | Wedge Bonding Equipment |  | Advanced Solutions |  | APS |  | All Others |  | Unallocated Corporate Expenses |  | Total Company |
Net Revenue | $ | 160,206 |  |  | $ | 13,070 |  |  | $ | 24,483 |  |  | $ | 34,694 |  |  | $ | 10,168 |  |  | $ | — |  |  | $ | 242,621 |  |
Cost of sales | 82,835 |  |  | 7,329 |  |  | 10,346 |  |  | 17,111 |  |  | 5,273 |  |  | 23 |  |  | 122,917 |  |
Selling, general and administrative | 8,046 |  |  | 2,198 |  |  | 4,427 |  |  | 3,161 |  |  | 3,697 |  |  | 21,213 |  |  | 42,742 |  |
Research and development | 10,155 |  |  | 6,145 |  |  | 15,343 |  |  | 2,924 |  |  | 2,413 |  |  | 1,416 |  |  | 38,396 |  |
Total operating expenses | 18,201 |  |  | 8,343 |  |  | 19,770 |  |  | 6,085 |  |  | 6,110 |  |  | 22,629 |  |  | 81,138 |  |
Income / (Loss) from operations | $ | 59,170 |  |  | $ | (2,602) |  |  | $ | (5,633) |  |  | $ | 11,498 |  |  | $ | (1,215) |  |  | $ | (22,652) |  |  | $ | 38,566 |  |
(in thousands) | Three months ended March 29, 2025 |
| Reportable segments |  | Reconciling items |  |  |
| Ball Bonding Equipment |  | Wedge Bonding Equipment |  | Advanced Solutions |  | APS(1) |  | All Others(1) |  | Unallocated Corporate Expenses |  | Total Company |
Net Revenue | $ | 66,281 |  |  | $ | 36,197 |  |  | $ | 17,638 |  |  | $ | 31,615 |  |  | $ | 10,255 |  |  | $ | — |  |  | $ | 161,986 |  |
Cost of sales | 32,630 |  |  | 20,045 |  |  | 7,365 |  |  | 15,402 |  |  | 46,158 |  |  | 2 |  |  | 121,602 |  |
Selling, general and administrative | 4,994 |  |  | 1,903 |  |  | 4,267 |  |  | 2,821 |  |  | 45,636 |  |  | 28,210 |  |  | 87,831 |  |
Research and development | 9,362 |  |  | 5,336 |  |  | 12,135 |  |  | 2,609 |  |  | 5,787 |  |  | 1,991 |  |  | 37,220 |  |
Total operating expenses | 14,356 |  |  | 7,239 |  |  | 16,402 |  |  | 5,430 |  |  | 51,423 |  |  | 30,201 |  |  | 125,051 |  |
Income / (Loss) from operations | $ | 19,295 |  |  | $ | 8,913 |  |  | $ | (6,129) |  |  | $ | 10,783 |  |  | $ | (87,326) |  |  | $ | (30,203) |  |  | $ | (84,667) |  |
(in thousands) | Six Months Ended April 4, 2026 |
| Reportable segments |  | Reconciling items |  |  |
| Ball Bonding Equipment |  | Wedge Bonding Equipment |  | Advanced Solutions |  | APS |  | All Others |  | Unallocated Corporate Expenses |  | Total Company |
Net Revenue | $ | 270,489 |  |  | $ | 34,191 |  |  | $ | 41,704 |  |  | $ | 74,318 |  |  | $ | 21,544 |  |  | $ | — |  |  | $ | 442,246 |  |
Cost of sales | 137,745 |  |  | 20,175 |  |  | 19,972 |  |  | 36,089 |  |  | 9,577 |  |  | 29 |  |  | 223,587 |  |
Selling, general and administrative | 14,687 |  |  | 4,594 |  |  | 8,962 |  |  | 6,459 |  |  | 7,470 |  |  | 41,329 |  |  | 83,501 |  |
Research and development | 20,411 |  |  | 12,396 |  |  | 29,372 |  |  | 5,776 |  |  | 5,429 |  |  | 5,388 |  |  | 78,772 |  |
Total operating expenses | 35,098 |  |  | 16,990 |  |  | 38,334 |  |  | 12,235 |  |  | 12,899 |  |  | 46,717 |  |  | 162,273 |  |
Income / (Loss) from operations | $ | 97,646 |  |  | $ | (2,974) |  |  | $ | (16,602) |  |  | $ | 25,994 |  |  | $ | (932) |  |  | $ | (46,746) |  |  | $ | 56,386 |  |
(in thousands) | Six Months Ended March 29, 2025 |
| Reportable segments |  | Reconciling items |  |  |
| Ball Bonding Equipment |  | Wedge Bonding Equipment |  | Advanced Solutions(2) |  | APS(1) |  | All Others(1) |  | Unallocated Corporate Expenses |  | Total Company |
Net Revenue | $ | 125,967 |  |  | $ | 68,420 |  |  | $ | 45,816 |  |  | $ | 63,732 |  |  | $ | 24,175 |  |  | $ | — |  |  | $ | 328,110 |  |
Cost of sales | 63,628 |  |  | 37,951 |  |  | 13,669 |  |  | 30,352 |  |  | 55,031 |  |  | 11 |  |  | 200,642 |  |
Selling, general and administrative | 10,607 |  |  | 4,025 |  |  | (65,042) |  |  | 5,820 |  |  | 48,537 |  |  | 46,511 |  |  | 50,458 |  |
Research and development | 19,009 |  |  | 10,828 |  |  | 24,744 |  |  | 5,093 |  |  | 11,574 |  |  | 3,780 |  |  | 75,028 |  |
Total operating expenses | 29,616 |  |  | 14,853 |  |  | (40,298) |  |  | 10,913 |  |  | 60,111 |  |  | 50,291 |  |  | 125,486 |  |
Income / (Loss) from operations | $ | 32,723 |  |  | $ | 15,616 |  |  | $ | 72,445 |  |  | $ | 22,467 |  |  | $ | (90,967) |  |  | $ | (50,302) |  |  | $ | 1,982 |  |
(1) In view of the cessation of the EA equipment business, the financial results for the three and six months ended April 4, 2026 now excludes a certain product line from the APS segment and now reports it as part of "All Others". This change in composition of reportable segments has been retrospectively applied to the corresponding results for the three and six months ended March 29, 2025. (2) The credit balance for the Advanced Solutions segment is primarily due to a $71.1 million reimbursement for certain costs and expenses as a result of the cancellation of the Project and a $1.7 million gain from a supplier settlement, partially offset by $7.8 million of selling, general and administrative expenses. The following table reconciles total segment profit to total income / (loss) before income taxes for the three and six months ended April 4, 2026 and March 29, 2025:
| Three months ended |  | Six months ended |  |  |  |
| April 4, 2026 |  | March 29, 2025 |  | April 4, 2026 |  | March 29, 2025 |  |  |  |
Total income from reportable segments | $ | 62,433 |  |  | $ | 32,862 |  |  | $ | 104,064 |  |  | $ | 143,251 |  |  |  |  |
All Others | (1,215) |  |  | (87,326) |  |  | (932) |  |  | (90,967) |  |  |  |  |
Unallocated corporate expenses | (22,652) |  |  | (30,203) |  |  | (46,746) |  |  | (50,302) |  |  |  |  |
Net interest income | 3,943 |  |  | 5,586 |  |  | 8,662 |  |  | 11,911 |  |  |  |  |
Income before income taxes | $ | 42,509 |  |  | $ | (79,081) |  |  | 65,048 |  |  | 13,893 |  |  |  |  |
We have considered: (1) information that is regularly provided to our CODM in evaluating financial performance and how to allocate resources; and (2) other financial data, including information that we include in our earnings releases but which is not included in our financial statements, to disaggregate revenues by end markets served. The principal category we use to disaggregate revenues is by the end markets served. The following table reflects net revenue by end markets served for the three and six months ended April 4, 2026 and March 29, 2025:
| Three months ended |  | Six months ended |  |  |  |  |  |
(in thousands) | April 4, 2026 |  | March 29, 2025 |  | April 4, 2026 |  | March 29, 2025 |  |  |  |  |  |
General Semiconductor | $ | 148,867 |  |  | $ | 90,684 |  |  | $ | 273,549 |  |  | $ | 156,243 |  |  |  |  |  |  |
Automotive & Industrial | 22,217 |  |  | 30,976 |  |  | 35,852 |  |  | 81,430 |  |  |  |  |  |  |
Memory | 31,251 |  |  | 2,806 |  |  | 47,473 |  |  | 13,531 |  |  |  |  |  |  |
APS | 40,286 |  |  | 37,520 |  |  | 85,372 |  |  | 76,906 |  |  |  |  |  |  |
Total revenue | $ | 242,621 |  |  | $ | 161,986 |  |  | $ | 442,246 |  |  | $ | 328,110 |  |  |  |  |  |  |
The following table reflects capital expenditures, depreciation expense and amortization expense for the three and six months ended April 4, 2026 and March 29, 2025:
| Three months ended |  | Six months ended |  |  |  |  |  |
(in thousands) | April 4, 2026 |  | March 29, 2025 |  | April 4, 2026 |  | March 29, 2025 |  |  |  |  |  |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |  |
Ball Bonding Equipment | $ | 63 |  |  | $ | 50 |  |  | $ | 98 |  |  | $ | 57 |  |  |  |  |  |  |
Wedge Bonding Equipment | 437 |  |  | 45 |  |  | 513 |  |  | 80 |  |  |  |  |  |  |
Advanced Solutions | — |  |  | 14 |  |  | — |  |  | 92 |  |  |  |  |  |  |
APS(1) | 233 |  |  | 258 |  |  | 982 |  |  | 565 |  |  |  |  |  |  |
All Others (1) | 40 |  |  | 390 |  |  | 45 |  |  | 615 |  |  |  |  |  |  |
Corporate Expenses | 2,906 |  |  | 1,959 |  |  | 4,110 |  |  | 3,418 |  |  |  |  |  |  |
| $ | 3,679 |  |  | $ | 2,716 |  |  | $ | 5,748 |  |  | $ | 4,827 |  |  |  |  |  |  |
Depreciation expense: |  |  |  |  |  |  |  |  |  |  |  |  |
Ball Bonding Equipment | $ | 264 |  |  | $ | 332 |  |  | $ | 539 |  |  | $ | 664 |  |  |  |  |  |  |
Wedge Bonding Equipment | 248 |  |  | 228 |  |  | 475 |  |  | 455 |  |  |  |  |  |  |
Advanced Solutions | 257 |  |  | 281 |  |  | 518 |  |  | 516 |  |  |  |  |  |  |
APS (1) | 1,175 |  |  | 1,308 |  |  | 2,374 |  |  | 2,706 |  |  |  |  |  |  |
All Others (1) | 322 |  |  | 347 |  |  | 604 |  |  | 676 |  |  |  |  |  |  |
Corporate Expenses | 1,405 |  |  | 1,344 |  |  | 2,812 |  |  | 2,590 |  |  |  |  |  |  |
| $ | 3,671 |  |  | $ | 3,840 |  |  | $ | 7,322 |  |  | $ | 7,607 |  |  |  |  |  |  |
Amortization expense: |  |  |  |  |  |  |  |  |  |  |  |  |
Ball Bonding Equipment | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  |
Wedge Bonding Equipment | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |
Advanced Solutions | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |
APS (1) | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |
All Others (1) | 216 |  |  | 1,080 |  |  | 432 |  |  | 2,234 |  |  |  |  |  |  |
Corporate Expenses | 91 |  |  | 91 |  |  | 183 |  |  | 183 |  |  |  |  |  |  |
| $ | 307 |  |  | $ | 1,171 |  |  | $ | 615 |  |  | $ | 2,417 |  |  |  |  |  |  |
(1) In view of the cessation of EA equipment business, the financial results for the three and six months ended April 4, 2026 now exclude a certain product line from the APS segment and now reports it as part of "All Others". This change in composition of reportable segments has been retrospectively applied to the corresponding results for the three and six months ended March 29, 2025.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 12: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 14: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 16: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration