Operating Segments and Enterprise-Wide Information

9 Months Ended

Sep. 24, 2022

Segment Reporting [Abstract]

Operating Segments and Enterprise-Wide Information

Operating Segments and Enterprise-Wide Information

Our chief operating decision maker (“CODM”) is our Chief Executive Officer, who reviews operating results to make decisions about allocating resources and assessing performance for the entire company. We operate in two reportable segments consisting of the Probe Cards segment and the Systems segment. The following table summarizes the operating results by reportable segment (dollars in thousands):

	Three Months Ended
	September 24, 2022											September 25, 2021
	Probe Cards			Systems			Corporate and Other		Total			Probe Cards			Systems			Corporate and Other		Total
Revenues	$	139,365		$	41,504		$	—	$	180,869		$	154,850		$	35,114		$	—	$	189,964
Gross profit	48,252			22,284			(8,323)		62,213			69,868			17,553			(7,202)		80,219
Gross margin	34.6		%	53.7		%			34.4		%	45.1		%	50.0		%			42.2		%
	Nine Months Ended
	September 24, 2022											September 25, 2021
	Probe Cards			Systems			Corporate and Other		Total			Probe Cards			Systems			Corporate and Other		Total
Revenues	$	467,056		$	114,894		$	—	$	581,950		$	467,389		$	97,287		$	—	$	564,676
Gross profit	203,874			59,967			(13,035)		250,806			206,783			48,059			(21,634)		233,208
Gross margin	43.7		%	52.2		%			43.1		%	44.2		%	49.4		%			41.3		%

Operating results provide useful information to our management for assessment of our performance and results of operations. Certain components of our operating results are utilized to determine executive compensation along with other measures.

Corporate and Other includes unallocated expenses relating to amortization of intangible assets, inventory and fixed asset fair value adjustments due to acquisitions, share-based compensation, and restructuring charges which are not used in evaluating the results of, or in allocating resources to, our reportable segments.

Certain revenue category information by reportable segment was as follows (in thousands):

	Three Months Ended
	September 24, 2022						September 25, 2021
	Probe Cards		Systems		Total		Probe Cards		Systems		Total
Market:
Foundry & Logic	$	90,605	$	—	$	90,605	$	104,640	$	—	$	104,640
DRAM	34,922		—		34,922		39,816		—		39,816
Flash	13,838		—		13,838		10,394		—		10,394
Systems	—		41,504		41,504		—		35,114		35,114
Total	$	139,365	$	41,504	$	180,869	$	154,850	$	35,114	$	189,964
Timing of revenue recognition:
Products transferred at a point in time	$	138,602	$	37,842	$	176,444	$	154,217	$	33,564	$	187,781
Products and services transferred over time	763		3,662		4,425		633		1,550		2,183
Total	$	139,365	$	41,504	$	180,869	$	154,850	$	35,114	$	189,964
Geographical region:
United States	$	25,909	$	12,180	$	38,089	$	18,530	$	6,938	$	25,468
Taiwan	32,227		4,611		36,838		34,100		7,474		41,574
China	27,973		8,755		36,728		46,011		5,036		51,047
South Korea	28,118		819		28,937		27,895		1,077		28,972
Europe	3,682		8,116		11,798		3,595		6,891		10,486
Singapore	7,983		2,374		10,357		6,841		711		7,552
Japan	4,533		3,159		7,692		5,767		4,961		10,728
Malaysia	6,272		237		6,509		11,353		280		11,633
Rest of the world	2,668		1,253		3,921		758		1,746		2,504
Total	$	139,365	$	41,504	$	180,869	$	154,850	$	35,114	$	189,964

	Nine Months Ended
	September 24, 2022						September 25, 2021
	Probe Cards		Systems		Total		Probe Cards		Systems		Total
Market:
Foundry & Logic	$	327,106	$	—	$	327,106	$	321,776	$	—	$	321,776
DRAM	106,202		—		106,202		115,802		—		115,802
Flash	33,748		—		33,748		29,811		—		29,811
Systems	—		114,894		114,894		—		97,287		97,287
Total	$	467,056	$	114,894	$	581,950	$	467,389	$	97,287	$	564,676
Timing of revenue recognition:
Products transferred at a point in time	$	464,139	$	106,339	$	570,478	$	465,822	$	89,119	$	554,941
Products and services transferred over time	2,917		8,555		11,472		1,567		8,168		9,735
Total	$	467,056	$	114,894	$	581,950	$	467,389	$	97,287	$	564,676
Geographical region:
Taiwan	$	119,937	$	19,990	$	139,927	$	125,571	$	13,467	$	139,038
China	101,342		23,520		124,862		107,838		17,661		125,499
United States	67,424		27,554		94,978		64,012		23,592		87,604
South Korea	80,417		4,776		85,193		81,322		2,912		84,234
Malaysia	43,946		1,006		44,952		34,275		483		34,758
Singapore	23,398		4,963		28,361		23,070		3,002		26,072
Europe	9,888		18,396		28,284		12,894		19,601		32,495
Japan	16,034		10,977		27,011		14,493		13,260		27,753
Rest of the world	4,670		3,712		8,382		3,914		3,309		7,223
Total	$	467,056	$	114,894	$	581,950	$	467,389	$	97,287	$	564,676