Segment and Geographic Information

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment and Geographic Information

Segment and Geographic Information

The Company operates in one segment, machine vision technology. The Company has a single, company-wide management team that administers operations as a whole rather than as discrete operating segments. The Company’s chief operating decision maker is the chief executive officer, who makes decisions to allocate resources and assesses performance at the corporate level, without regard to geography, product line, or end market. The Company offers a variety of machine vision products that have similar economic characteristics and are distributed by the same sales channels to the same types of customers.

The following table summarizes information about geographic areas (in thousands):

	United States		Europe		Greater China		Other		Total
Year Ended December 31, 2023
Revenue	$	288,324	$	220,665	$	164,115	$	164,443	$	837,547
Long-lived assets	62,946		17,005		17,028		15,958		$	112,937
Year Ended December 31, 2022
Revenue	$	343,835	$	234,643	$	227,447	$	200,165	$	1,006,090
Long-lived assets	66,928		14,725		1,334		3,370		$	86,357
Year Ended December 31, 2021
Revenue	$	393,690	$	247,744	$	200,135	$	195,529	$	1,037,098
Long-lived assets	63,141		16,982		960		3,705		$	84,788

Revenue is presented geographically based on the customer’s country of domicile.

Revenue from a single customer accounted for 11% and 17% of total revenue in 2022 and 2021, respectively. Revenue from this customer was not greater than 10% of total revenue in 2023. Accounts receivable from this customer was not greater than 10% of total accounts receivable as of December 31, 2023 or December 31, 2022.

Revenue from a second customer accounted for 11% of total revenue in 2022. Revenue from this customer was not greater than 10% of total revenue in 2023 or 2021. Accounts receivable from this customer was not greater than 10% of total accounts receivable as of December 31, 2023 or December 31, 2022.