Business Segments

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Business Segments

12. Business Segments

The Company operates in one segment: ophthalmology. The Company develops, manufactures and markets medical devices. Our revenues arise from the sale of consoles, delivery devices, consumables, service, and support activities.

Revenue information shown by product group is as follows (in thousands):

	Three Months Ended				Nine Months Ended
	September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
Cyclo G6	$	3,042	$	3,460	$	10,369	$	10,477
Retina		7,865		8,750		21,936		23,580
Other(1)		1,943		2,425		7,106		7,720
Total revenues	$	12,850	$	14,635	$	39,411	$	41,777

(1) Includes service contract revenues of $409 thousand and $358 thousand and $1,174 thousand and $1,122 thousand recognized during the three and nine months ended September 30, 2023 and October 1, 2022, respectively. Includes $364 thousand and $351 thousand and $1,091 thousand and $985 thousand recognized revenue related to the exclusive distribution rights during the three and nine months ended September 30, 2023 and October 1, 2022, respectively. Other also includes revenues from paid service, royalty, freight and legacy G probes.

Revenue information shown by geographic region, based on the sales destination, is as follows (in thousands):

	Three Months Ended				Nine Months Ended
	September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
United States	$	6,140	$	7,415	$	19,656	$	20,806
Europe, Middle East and Africa		4,197		3,480		11,217		9,732
Asia/Pacific Rim		2,136		2,910		6,761		8,949
Rest of Americas		377		830		1,777		2,290
Total revenues	$	12,850	$	14,635	$	39,411	$	41,777

Revenues are attributed to countries based on the location of end customers.

Other than the United States, the Netherlands accounted for at least 10% of the Company’s revenues during the three and nine months ended September 30, 2023, representing 20% and 16%, respectively. Other than the United States, the Netherlands accounted for at least 10% of the Company’s revenues during the three and nine months ended October 1, 2022, representing 14% and 10%, respectively. The United States accounted for 47.8% and 50.7% of revenues for the three months ended September 30, 2023 and October 1, 2022, respectively, and 49.9% and 49.8% for the nine months ended September 30, 2023 and October 1, 2022, respectively.