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Note 10 - Segment and Geographic Information
 6 Months Ended
Jun. 28, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

10.

Segment and Geographic Information

 

We applied the provisions of ASC 280, which sets forth a management approach to segment reporting and establishes requirements to report selected segment information quarterly and to report annually entity-wide disclosures about products, major customers and the geographies in which the entity holds material assets and reports revenue. An operating segment is defined as a component that engages in business activities whose operating results are reviewed by the CODM, which is our Chief Executive Officer, Luis A. Müller and for which discrete financial information is available. We have determined that our three identified operating segments are: TH, ST and IS. Our three operating segments qualify for aggregation under ASC 280 due to similarities in their customers, their economic characteristics, and the nature of products and services provided. As a result, we report in one segment, Semiconductor Test & Inspection, which derives revenue from the design and manufacture of equipment and components used in the testing of semiconductors.

 

The CODM assesses performance of the Semiconductor Test & Inspection segment and decides how to allocate resources based on income (loss) before taxes. The table below summarizes selected financial information for our single reportable segment.

 

   

  Three Months

Ended

    

Three Months

Ended

    

Six Months

Ended

    

Six Months

Ended

  
   

  June 28,

    

June 29,

    

June 28,

    

June 29,

  

(in thousands)

  

2025

    

2024

    

2025

    

2024

  

Net sales

   $ 107,680     $ 104,701     $ 204,477     $ 212,315  

Cost of sales

     60,173       57,517       114,327       115,655  

Research and development

     21,674       20,341       43,607       41,843  

Selling

     13,320       13,049       26,445       27,525  

General & administrative

     12,783       14,749       24,984       31,788  

Amortization of purchased intangible assets

     10,081       9,748       19,933       19,543  

Stock-based compensation

     5,675       5,583       11,905       10,211  

Other segment items (1)

     (1,195 )     (1,803 )     4,073       (3,432 )

Loss before taxes

   $ (14,831 )   $ (14,483 )   $ (40,797 )   $ (30,818 )

 

 

(1)

Other segment items include restructuring charges as well as miscellaneous non-operating items.

 

For revenues by geography and information on customer concentration, see Note 1, “Summary of Significant Accounting Policies”.