Disaggregation of Revenues, Geographic Sales and Product Sales

12 Months Ended

Dec. 29, 2023

Disaggregation of Revenues, Geographic Sales and Product Sales

Note 17 — Disaggregation of Revenues, Geographic Sales and Product Sales

In the following tables, revenues are disaggregated by category, sales by geographic market and sales by product line. The following breaks down revenues into the following categories (in thousands):


	Years Ended
	2023		2022		2021
Non-consignment sales	$	301,163	$	264,620	$	210,517
Consignment sales		21,252		19,771		19,955
Total net sales	$	322,415	$	284,391	$	230,472

The Company markets and sells its products in more than 75 countries and conducts its manufacturing in the United States. Other than China and Japan, the Company does not conduct business in any country in which its sales in that country exceed 10% of consolidated net sales. Sales are attributed to countries based on location of customers. The composition of the Company’s net sales to unaffiliated customers was as follows (in thousands):


	Years Ended
	2023		2022		2021
Domestic	$	17,221	$	14,679	$	10,095
Foreign:
China(1)		185,554		148,167		107,333
Japan		38,472		43,093		40,973
Other(2)		81,168		78,452		72,071
Total foreign sales		305,194		269,712		220,377
Total net sales	$	322,415	$	284,391	$	230,472

(1) The China region includes sales into China and Hong Kong.

(2) No other location individually exceeds 10% of the total net sales.

100% of the Company’s sales are generated from the ophthalmic surgical product segment and the chief operating decision maker makes the operating decisions and allocates resources based upon the consolidated operating results, therefore, the Company operates as one operating segment for financial reporting purposes. The Company’s principal product, ICLs, are used in refractive surgery. Historically the Company marketed and sold cataract IOLs and related injectors and injector parts. The Company phased out sales of such products in fiscal 2023, and it does not expect to sell any such products in fiscal 2024 or thereafter. The composition of the Company’s net sales by product line was as follows (in thousands):


	Years Ended
	2023		2022		2021
ICLs	$	319,427	$	269,712	$	212,905
Other product sales
Cataract IOLs		1,139		9,638		12,519
Other surgical products(1)		1,849		5,041		5,048
Total other product sales		2,988		14,679		17,567
Total net sales	$	322,415	$	284,391	$	230,472

(1) Other surgical products include delivery systems and normal recurring sales adjustments such as sales return allowances.

The Company sells its products internationally, which subjects the Company to several potential risks, including fluctuating exchange rates (to the extent the Company’s transactions are not in U.S. dollars), regulation of fund transfers by foreign governments, U.S. and foreign export and import duties and tariffs, and political instability.