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Note 10 - Segment and Geographic Information
 9 Months Ended
Sep. 27, 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

    

Nine Months

Ended

    

Nine Months

Ended

  
   

September 27,

    

September 28,

    

September 27,

    

September 28,

  

(in thousands)

  

2025

    

2024

    

2025

    

2024

  

Net sales

   $ 126,249     $ 95,342     $ 330,726     $ 307,657  

Cost of sales

     70,644       50,415       184,971       166,070  

Research and development

     21,098       19,559       64,705       61,402  

Selling

     13,274       12,345       39,719       39,870  

General & administrative

     14,532       13,739       39,516       45,527  

Amortization of purchased intangible assets

     10,249       9,791       30,182       29,334  

Stock-based compensation

     5,659       5,248       17,564       15,459  

Other segment items (1)

     (1,392 )     (930 )     2,681       (4,362 )

Loss before taxes

   $ (7,815 )   $ (14,825 )   $ (48,612 )   $ (45,643 )

 

(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”.