Disaggregation of Sales, Geographic Sales and Product Sales

9 Months Ended

Sep. 29, 2023

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				Nine Months Ended
	September 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022
Non-consignment sales	$	75,296	$	71,223	$	230,527	$	205,236
Consignment sales		5,012		4,823		15,615		15,111
Total net sales	$	80,308	$	76,046	$	246,142	$	220,347

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):

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


	Three Months Ended				Nine Months Ended
	September 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022
Domestic	$	4,164	$	3,873	$	13,061	$	10,375
Foreign:
China		48,287		42,246		144,716		116,635
Japan		9,175		10,546		28,526		32,481
Other(1)		18,682		19,381		59,839		60,856
Total foreign sales		76,144		72,173		233,081		209,972
Total net sales	$	80,308	$	76,046	$	246,142	$	220,347

(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					Nine Months Ended
	September 29, 2023			September 30, 2022		September 29, 2023		September 30, 2022
ICLs	$	81,069		$	71,953	$	244,806	$	208,550
Other product sales:
Cataract IOLs		(221	)		2,191		1,295		7,640
Other surgical products(1)		(540	)		1,902		41		4,157
Total other product sales		(761	)		4,093		1,336		11,797
Total net sales	$	80,308		$	76,046	$	246,142	$	220,347

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

One customer, the Company’s distributor in China, accounted for 60% and 56% of net sales for the three months ended September 29, 2023 and September 30, 2022, respectively, and the same customer accounted for 59% and 53% for the nine months ended September 29, 2023 and September 30, 2022, respectively. As of September 29, 2023 and December 30, 2022, respectively, one customer, the Company’s distributor in China, accounted for 78% and 59% of consolidated trade receivables.