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Disaggregation of Sales, Geographic Sales and Product Sales | 9 Months Ended
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Sep. 27, 2024
Segment Reporting [Abstract] |
Disaggregation of Sales, Geographic Sales and Product Sales | Note 13 — 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 27, 2024 |  |  | September 29, 2023 |  |  | September 27, 2024 |  |  | September 29, 2023 |
Non-consignment sales |  | $ | 83,703 |  |  | $ | 75,296 |  |  | $ | 250,242 |  |  | $ | 230,527 |
Consignment sales |  |  | 4,887 |  |  |  | 5,012 |  |  |  | 14,709 |  |  |  | 15,615 |
Total net sales |  | $ | 88,590 |  |  | $ | 80,308 |  |  | $ | 264,951 |  |  | $ | 246,142 |
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 |  |  | Nine Months Ended |
|  | September 27, 2024 |  |  | September 29, 2023 |  |  | September 27, 2024 |  |  | September 29, 2023 |
Domestic |  | $ | 4,681 |  |  | $ | 4,164 |  |  | $ | 15,015 |  |  | $ | 13,061 |
Foreign: |  |  |  |  |  |  |  |  |  |  |  |
China |  |  | 51,830 |  |  |  | 48,287 |  |  |  | 153,774 |  |  |  | 144,716 |
Japan |  |  | 10,534 |  |  |  | 9,175 |  |  |  | 30,875 |  |  |  | 28,526 |
Other(1) |  |  | 21,545 |  |  |  | 18,682 |  |  |  | 65,287 |  |  |  | 59,839 |
Total foreign sales |  |  | 83,909 |  |  |  | 76,144 |  |  |  | 249,936 |  |  |  | 233,081 |
Total net sales |  | $ | 88,590 |  |  | $ | 80,308 |  |  | $ | 264,951 |  |  | $ | 246,142 |
(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. Historically the Company marketed and sold cataract intraocular lenses (“IOLs”) and related injectors and injector parts. The Company phased out sales of such products in fiscal 2023, and does not expect to sell any such products in fiscal 2024 or thereafter. The composition of the Company’s net sales by product line was as follows (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 27, 2024 |  |  | September 29, 2023 |  |  | September 27, 2024 |  |  | September 29, 2023 |
ICLs |  | $ | 89,101 |  |  | $ | 81,069 |  |  | $ | 265,617 |  |  | $ | 244,806 |
Other product sales: |  |  |  |  |  |  |  |  |  |  |  |
Cataract IOLs |  |  | — |  |  |  | (221 | ) |  |  | — |  |  |  | 1,295 |
Other surgical products(1) |  |  | (511 | ) |  |  | (540 | ) |  |  | (666 | ) |  |  | 41 |
Total other product sales |  |  | (511 | ) |  |  | (761 | ) |  |  | (666 | ) |  |  | 1,336 |
Total net sales |  | $ | 88,590 |  |  | $ | 80,308 |  |  | $ | 264,951 |  |  | $ | 246,142 |
(1) Other surgical products include delivery systems and normal recurring sales adjustments such as sales return allowances. The Company’s China distributors accounted for 59% and 60% of net sales for the three months ended September 27, 2024 and September 29, 2023, respectively and accounted for 58% and 59% of net sales for the nine months ended September 27, 2024 and September 29, 2023, respectively. As of September 27, 2024 and December 29, 2023, the Company’s China distributors accounted for 69% and 70%, respectively, of consolidated trade receivables.

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