Disaggregation of Sales, Geographic Sales and Product Sales

6 Months Ended

Jun. 30, 2023

Disaggregation of Sales, Geographic Sales and Product Sales

Note 14 — Disaggregation of Sales, Geographic Sales and Product Sales

In the following tables, sales are disaggregated by category, sales by geographic market and sales by product data. The following breaks down sales into the following categories (in thousands):


	Three Months Ended				Six Months Ended
	June 30, 2023		July 1, 2022		June 30, 2023		July 1, 2022
Non-consignment sales	$	88,068	$	76,444	$	155,231	$	134,013
Consignment sales		4,238		4,657		10,603		10,288
Total net sales		92,306		81,101	$	165,834	$	144,301

The Company markets and sells its products in over 75 countries and conducts its manufacturing in the United States. Other than China and Japan, the Company does not conduct business in any country in which its sales exceed 10% of worldwide consolidated net sales. Sales are attributed to countries based on location of customers. The composition of the Company’s net sales to unaffiliated customers was as follows (in thousands):


	Three Months Ended				Six Months Ended
	June 30, 2023		July 1, 2022		June 30, 2023		July 1, 2022
Domestic	$	4,346	$	3,872	$	8,897	$	6,502
Foreign:
China		61,339		46,150		96,429		74,389
Japan		8,415		10,302		19,351		21,935
Other(1)		18,206		20,777		41,157		41,475
Total foreign sales		87,960		77,229		156,937		137,799
Total net sales	$	92,306	$	81,101	$	165,834	$	144,301

(1)

No other location individually exceeds 10% of the total sales.

100% of the Company’s sales are generated from the ophthalmic surgical product segment and the chief operating decision maker makes operating decisions and allocates resources based upon the consolidated operating results, and therefore the Company operates as one operating segment for financial reporting purposes. The Company’s principal products are implantable Collamer lenses (“ICLs”) used in refractive surgery and intraocular lenses (“IOLs”) used in cataract surgery. The composition of the Company’s net sales by product line was as follows (in thousands):


	Three Months Ended					Six Months Ended
	June 30, 2023			July 1, 2022		June 30, 2023		July 1, 2022
ICLs	$	93,112		$	77,922	$	163,737	$	136,597
Other product sales:
Cataract IOLs		40			2,547		1,516		5,449
Other surgical products(1)		(846	)		632		581		2,255
Total other product sales		(806	)		3,179		2,097		7,704
Total net sales	$	92,306		$	81,101	$	165,834	$	144,301

(1) Other surgical products include delivery systems and normal recurring sales adjustments such as sales return allowances.

Note 14 — Disaggregation of Sales, Geographic Sales and Product Sales (Continued)

One customer, the Company’s distributor in China, accounted for 66% and 57% of net sales for the three months ended June 30, 2023 and July 1, 2022, respectively, and the same customer accounted for 58% and 52% for the six months ended June 30, 2023 and July 1, 2022, respectively. As of June 30, 2023 and December 30, 2022, respectively, one customer, the Company’s distributor in China, accounted for 74% and 59% of consolidated trade receivables.