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Segment Information and Foreign Operations

12 Months Ended

Dec. 31, 2024

Segment Information and Foreign Operations

Segment Information and Foreign Operations

Note 14. Segment Information and Foreign Operations

Segment Information

We operate in one segment for the design, development, manufacture and distribution of high-performance compound and single element semiconductor substrates and sale of raw materials integral to these substrates. In accordance with ASC Topic 280, Segment Reporting, our chief operating decision-maker (“CODM”) has been identified as the Chief Executive Officer, who reviews operating results to make decisions about allocating resources and assessing performance for the Company. Since we operate in one segment, all financial segment and product line information can be found in the consolidated financial statements. The CODM regularly evaluates consolidated net income (loss) and functional expenses, including cost of revenue, selling, general and administrative and research and development, to manage Company operations. No additional disaggregated expense categories are presented beyond those already disclosed in the primary financial statements.

Product Information

The following table represents revenue amounts (in thousands) by product type:

​	​	​	​	​	​	​	​	​	​	​
​	​	Year Ended								​
​	​	December 31,								​
	​	2024			2023			2022
​	Product Type:	​	​	​	​	​	​	​	​	​
​	Substrates	$	67,748	​	$	47,466	​	$	111,094	​
​	Raw materials and others		31,613	​		28,329	​		30,024	​
​	Total	$	99,361	​	$	75,795	​	$	141,118	​

​

Geographical Information

The following table represents revenue amounts (in thousands) reported for products shipped to customers in the corresponding geographic region:

​	​	​	​	​	​	​	​	​	​	​
​	​	Year Ended								​
​	​	December 31,								​
	​	2024			2023			2022
​	Geographical region:	​	​	​	​	​	​	​	​	​
​	China	$	56,119	​	$	39,778	​	$	55,414	​
​	Taiwan	​	14,098	​	​	8,651	​	​	28,780	​
​	Japan	​	4,979	​	​	4,641	​	​	11,724	​
​	Asia Pacific (excluding China, Taiwan and Japan)	​	2,818	​	​	3,814	​	​	4,188	​
​	Europe (primarily Germany)	​	13,766	​	​	12,315	​	​	20,592	​
​	North America (primarily the United States)		7,581	​		6,596	​		20,420	​
​	Total	$	99,361	​	$	75,795	​	$	141,118	​

​

Long-lived assets consist primarily of property, plant and equipment, and operating lease right-of-use assets are attributed to the geographic location in which they are located. Long-lived assets, net of depreciation, by geographic region were as follows (in thousands):

​	​	​	​	​	​	​	​
​	​	​					​
​	​	As of December 31,					​
​		2024			2023
Long-lived assets by geographic region, net of depreciation:	​	​	​	​	​	​	​
North America	​	$	1,353	​	$	1,631	​
China	​		160,847	​		167,516	​
​	​	$	162,200	​	$	169,147	​

​

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The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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