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Segment Information
 3 Months Ended
Apr. 30, 2023
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company’s Chief Executive Officer functions as the chief operating decision maker ("CODM"). The CODM makes operating decisions and assesses performance based on the Company's major product lines, which represent its operating segments. The Company currently has four operating segments—Signal Integrity, Advanced Protection and Sensing, IoT System, and IoT Connected Services—that represent four separate reportable segments. Each of these reportable segments are each operating segments and reporting units.
Historically, the Company had three operating segments—Signal Integrity, Wireless and Sensing, and Protection—that had been aggregated into two reportable segments identified as the High-Performance Analog Group, which was comprised of the Signal Integrity and Wireless and Sensing operating segments, and the System Protection Group, which was comprised of the Protection operating segment. In the fourth quarter of fiscal year 2023, as a result of organizational restructuring, the proximity sensing business and the power business were moved from the previous Wireless and Sensing operating segment into the newly formed Advanced Protection and Sensing operating segment, which also includes the Protection business. Following this organizational restructuring, the Company determined that Signal Integrity and the revised Wireless and Sensing operating segments were no longer economically similar and as a result the Company has concluded that Signal Integrity should be separately reported as its own reportable segment. Also in the fourth quarter of fiscal year 2023, in conjunction with the Sierra Wireless Acquisition, the Company formed two additional operating segments including the IoT System operating segment, which absorbed the Company's revised Wireless and Sensing operating segment, and the IoT Connected Services operating segment. As a result of the reorganization and the Sierra Wireless Acquisition, the Company has four reportable segments. All prior year information in the tables below has been revised retrospectively to reflect the change to the Company's reportable segments.
The Company’s assets are commingled among the various operating segments and the CODM does not use asset information in making operating decisions or assessing performance. Therefore, the Company has not included asset information by reportable segment in the segment disclosures below.
Net sales and gross profit by reportable segment were as follows:
Three Months Ended
(in thousands)April 30, 2023May 1, 2022
Net sales:
Signal Integrity Products Group$41,646 18 %$79,302 39 %
Advanced Sensing and Protection Products Group36,057 15 %72,422 36 %
IoT System Products Group134,576 57 %50,425 25 %
IoT Connected Services Group24,260 10 %— — %
Total net sales$236,539 100 %$202,149 100 %
Gross profit:
Signal Integrity Products Group$25,084 $55,865 
Advanced Sensing and Protection Products Group19,399 37,129 
IoT System Products Group59,123 38,253 
IoT Connected Services Group11,163 — 
Unallocated costs, including share-based compensation and amortization of acquired technology(11,823)(2,042)
Total gross profit$102,946 $129,205 
Information by Sales Channel
(in thousands, except percentages)Three Months Ended
April 30, 2023May 1, 2022
Distributor$144,274 61 %$179,033 89 %
Direct92,265 39 %23,116 11 %
Total net sales$236,539 100 %$202,149 100 %
Generally, the Company does not have long-term contracts with its distributors and most distributor agreements can be terminated by either party with short notice.
Geographic Information
Net sales activity by geographic region was as follows:
 Three Months Ended
(percentage of total net sales)April 30, 2023May 1, 2022
Asia-Pacific54 %76 %
North America31 %13 %
Europe15 %11 %
100 %100 %
The Company attributes sales to a country based on the ship-to address. The table below summarizes sales activity to countries that represented greater than 10% of total sales for at least one of the periods presented:
 Three Months Ended
(percentage of total net sales)April 30, 2023May 1, 2022
China (including Hong Kong)24 %57 %
United States28 %12 %
Although a large percentage of the Company's products is shipped into the Asia-Pacific region, a significant number of the products produced by these customers and incorporating the Company's semiconductor products are then sold outside this region.