v3.25.2
SEGMENT INFORMATION
 9 Months Ended
Jun. 28, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION . SEGMENT INFORMATION
Reportable segments are defined as components of an enterprise that engage in business activities for which discrete financial information is available and regularly reviewed by the chief operating decision maker (the “CODM”) in deciding how to allocate resources and assess performance. The Company’s Chief Executive Officer is the CODM. The CODM does not review discrete asset information.
The Company has four reportable segments consisting of: (1) Ball Bonding Equipment, (2) Wedge Bonding Equipment, (3) Advanced Solutions, and (4) Aftermarket Products and Services (“APS”). The four reportable segments are disclosed below:
Ball Bonding Equipment: Reflects the results of the Company from the design, development, manufacture and sale of ball bonding equipment and wafer level bonding equipment.
Wedge Bonding Equipment: Reflects the results of the Company from the design, development, manufacture and sale of wedge and wedge-related bonding equipment.
Advanced Solutions: Reflects the results of the Company from the design, development, manufacture and sale of certain advanced display, die-attach and thermocompression systems and solutions.
APS: Reflects the results of the Company from the design, development, manufacture and sale of a variety of tools, spares and services for our equipment.
Any other operating segments that have not been aggregated within the reportable segments described above which do not meet the quantitative threshold to be disclosed as a separate reportable segment have been grouped within an “All Others” category. This group is reflective of the results of the Company from the design, development, manufacture and sale of certain advanced display, advanced dispense, electronics assembly and die-attach systems and solutions. Results for the “All Others” category and other corporate expenses are included as a reconciling item between the Company’s reportable segments and its consolidated results of operations.
The following table reflects operating information by segment for the three and nine months ended June 28, 2025 and June 29, 2024: 
Three months endedNine months ended
(in thousands)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Net revenue:
Ball Bonding Equipment$75,990 $93,254 $201,957 $261,432 
Wedge Bonding Equipment22,126 26,144 90,546 72,364 
Advanced Solutions10,811 20,953 56,627 46,401 
APS36,448 38,059 113,354 119,967 
All Others3,038 3,240 14,039 24,749 
Net revenue$148,413 $181,650 $476,523 $524,913 
(Loss)/Income from operations:
Ball Bonding Equipment$23,480 $27,751 $56,203 $80,617 
Wedge Bonding Equipment2,065 4,149 17,681 12,696 
Advanced Solutions(10,692)(9,785)61,753 (140,201)
APS7,346 11,443 17,304 36,275 
All Others(6,179)(8,317)(84,637)(25,945)
Corporate Expenses(22,114)(16,964)(72,416)(58,627)
(Loss)/Income from operations$(6,094)$8,277 $(4,112)$(95,185)
We have considered: (1) information that is regularly reviewed by our CODM in evaluating financial performance and how to allocate resources; and (2) other financial data, including information that we include in our earnings releases but which is not included in our financial statements, to disaggregate revenues by end markets served. The principal category we use to disaggregate revenues is by the end markets served.
The following table reflects net revenue by end markets served for the three and nine months ended June 28, 2025 and June 29, 2024: 
Three months endedNine months ended
(in thousands)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
General Semiconductor$79,381 $89,154 $235,624 $250,239 
Automotive & Industrial (1)
17,116 40,061 98,546 100,257 
Memory15,468 14,376 28,999 54,450 
APS36,448 38,059 113,354 119,967 
Total revenue$148,413 $181,650 $476,523 $524,913 
(1) In view of the intended EA equipment business cessation, the Company has simplified its end market disclosures by consolidating LED revenue within Automotive & Industrial revenue. As a result, the net revenue recorded within the previously-defined LED end market for prior periods has been consolidated within the Automotive & Industrial end market to conform to the current period presentation. These changes have no impact to the consolidated financial statements.
The following table reflects capital expenditures, depreciation expense and amortization expense for the three and nine months ended June 28, 2025 and June 29, 2024:
Three months endedNine months ended
(in thousands)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Capital expenditures:
Ball Bonding Equipment$19 $172 $76 $726 
Wedge Bonding Equipment211 495 291 630 
Advanced Solutions32 47 124 365 
APS441 157 1,234 827 
All Others390 412 777 839 
Corporate Expenses1,640 1,983 5,058 7,258 
$2,733 $3,266 $7,560 $10,645 
Depreciation expense:
Ball Bonding Equipment$321 $363 $985 $1,010 
Wedge Bonding Equipment219 228 674 764 
Advanced Solutions277 295 793 5,663 
APS1,209 1,332 3,921 3,957 
All Others255 398 925 1,164 
Corporate Expenses1,328 1,078 3,918 3,416 
$3,609 $3,694 $11,216 $15,974 
Amortization expense:
Ball Bonding Equipment$— $— $— $— 
Wedge Bonding Equipment— — — — 
Advanced Solutions— — — — 
APS— 227 526 684 
All Others216 931 1,924 2,963 
Corporate Expenses92 92 275 275 
$308 $1,250 $2,725 $3,922