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Note 13 - Information Concerning Segments, Product Lines, Geographic Information, Accounts Receivable, and Revenue Concentration | 9 Months Ended
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Sep. 28, 2025
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | Note 13 — Information Concerning Segments, Product Lines, Geographic Information, Accounts Receivable, and Revenue Concentration The Company identifies its business segments based on business activities, management responsibility, and geographic location. For all periods presented, the Company operated in a single reportable business segment. The Company has one reportable operating segment based on how its Chief Operating Decision Maker (CODM) manages the business and in a manner consistent with the availability of discrete financial information and the internal reporting provided to the CODM. The CODM, the Company's Chief Executive Officer (CEO), reviews detailed income statements, balance sheets, and sales reports in order to assess performance of the Company. The CODM does not review assets at a different asset level or category than at the consolidated level and the consolidated statements of operations are presented to the CODM without further disaggregation. Significant segment expenses also include depreciation, amortization, and stock-based compensation, which are disclosed within the consolidated statements of cash flows. The Company does not have any significant intra-entity sales or transfers. Sales, operating income, and net income are some of the key variables monitored by the CODM and management when determining the Company's financial condition and operating performance. The CODM uses sales, operating income (loss), and net income (loss) to evaluate income generated in deciding whether to reinvest profits into the segment or to use such profits for other purposes, such as for acquisitions or share repurchases. These key variables are also used to monitor budget versus actual results, as well as in competitive analyses by benchmarking to the Company’s competitors. The following is a breakdown of revenue from continuing operations by product family (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 28, 2025 |  |  | September 29, 2024 |  |  | September 28, 2025 |  |  | September 29, 2024 |
New products |  | $ | 953 |  |  | $ | 3,473 |  |  | $ | 7,618 |  |  | $ | 11,037 |
Mature products |  |  | 1,076 |  |  |  | 736 |  |  |  | 2,423 |  |  |  | 2,937 |
Total revenue |  | $ | 2,029 |  |  | $ | 4,209 |  |  | $ | 10,041 |  |  | $ | 13,974 |
New products revenue from continuing operations consists of revenues from the sale of hardware products manufactured on 180 nanometer or smaller semiconductor processes, eFPGA IP license and eFPGA-related professional services, and QuickAI. Mature products include all products produced on semiconductor processes larger than 180 nanometer. The following is a breakdown of new product revenue from continuing operations (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 28, 2025 |  |  | September 29, 2024 |  |  | September 28, 2025 |  |  | September 29, 2024 |
Hardware products |  | $ | 280 |  |  | $ | 28 |  |  | $ | 729 |  |  | $ | 1,028 |
eFPGA IP and professional services |  |  | 673 |  |  |  | 3,445 |  |  |  | 6,889 |  |  |  | 10,009 |
New products revenue |  | $ | 953 |  |  | $ | 3,473 |  |  | $ | 7,618 |  |  | $ | 11,037 |
eFPGA IP and professional services revenue from continuing operations was $0.7 million and $6.9 million for the three and nine months ended September 28, 2025, respectively and $3.4 million and $10.0 million for the three and nine months ended September 29, 2024, respectively, which was primarily professional services revenue. Contract assets were $1.4 million and $2.7 million as of September 28, 2025 and December 29, 2024, respectively. Contract liabilities were $0.4 million as of September 28, 2025 and $0.4 million as of December 29, 2024. In the nine months ended September 28, 2025, all $0.4 million of the deferred revenues outstanding as of December 29, 2024 were recognized by the Company as revenue. Of the $0.4 million in deferred revenues as of September 28, 2025, the Company expects to recognize these revenues using the input time-based and output deliverable-based methods through the end of Q2'26. Of its remaining unsatisfied performance obligations not currently on the Company's balance sheet, the Company expects to recognize $2.2 million by the end of Q3'26, either through the input time-based method or the output method, recognizing revenue as deliverables such as IP and various technologies and training are transferred or provided to the customer. For the majority of the Company's contracts, payment schedules are in place and cash receipts will not always follow the timeline of the Company's revenue recognition policies. The tables below present disaggregated revenues for continuing operations by geographical location. Revenue attributed to geographic location is based on the destination of the product or service. Substantially all revenues in North America were in the United States. Revenue from continuing operations in the United States was $1.0 million, or 50% of total revenue from continuing operations and $3.6 million, or 85% of total revenue from continuing operations for the three months ended September 28, 2025 and September 29, 2024, respectively, and $7.8 million, or 78% of total revenue from continuing operations and $11.6 million, or 83% of total revenue from continuing operations for the nine months ended September 28, 2025 and September 29, 2024, respectively. The following is a breakdown of revenue from continuing operations by destination (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 28, 2025 |  |  | September 29, 2024 |  |  | September 28, 2025 |  |  | September 29, 2024 |
Asia Pacific |  | $ | 956 |  |  | $ | 508 |  |  | $ | 1,948 |  |  | $ | 1,637 |
North America |  |  | 1,037 |  |  |  | 3,609 |  |  |  | 7,878 |  |  |  | 11,903 |
Europe |  |  | 36 |  |  |  | 92 |  |  |  | 215 |  |  |  | 434 |
Total revenue |  | $ | 2,029 |  |  | $ | 4,209 |  |  | $ | 10,041 |  |  | $ | 13,974 |
The following distributors and customers accounted for 10% or more of the Company's revenue from continuing operations for the periods presented:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 28, |  |  | September 29, |  |  | September 28, |  |  | September 29, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Distributor "A" |  |  | 22 | % |  |  | 11 | % |  |  | 15 | % |  |  | 11 | %
Distributor "C" |  |  | 12 | % |  |  | * |  |  |  | * |  |  |  | * |
Distributor "E" |  |  | 13 | % |  |  | * |  |  |  | * |  |  |  | * |
Customer "A" |  |  | * |  |  |  | 54 | % |  |  | 53 | % |  |  | 59 | %
Customer "B" |  |  | 18 | % |  |  | 10 | % |  |  | 11 | % |  |  | * |
Customer "J" |  |  | * |  |  |  | 19 | % |  |  | * |  |  |  | * |
Customer "P" |  |  | 13 | % |  |  | * |  |  |  | * |  |  |  | * |
Customer "Q" |  |  | 25 | % |  |  | * |  |  |  | * |  |  |  | * |
The following distributors and customers accounted for 10% or more of the Company's accounts receivable from continuing operations as of the dates presented:
|  | September 28, |  |  | December 29, |
|  | 2025 |  |  | 2024 |
Distributor "A" |  |  | * |  |  |  | 10 | %
Distributor "D" |  |  | * |  |  |  | 12 | %
Customer "A" |  |  | 56 | % |  |  | 50 | %
Customer "K" |  |  | * |  |  |  | 10 | %
Customer "Q" |  |  | 15 | % |  |  | * |

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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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