Note 13 - Information Concerning Segments, Product Lines, Geographic Information, Accounts Receivable, and Revenue Concentration |
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| Segment Reporting Disclosure [Text Block] |
Note 13 — Information Concerning Segments, Product Lines, Geographic Information, Accounts Receivable, and Revenue Concentration
The Company identifies its business segments based on business activities, management responsibility, and geographic location. For all periods presented, the Company operated in a single reportable business segment.
The Company has reportable operating segment based on how its Chief Operating Decision Maker (CODM) manages the business and in a manner consistent with the availability of discrete financial information and the internal reporting provided to the CODM. The CODM, the Company's Chief Executive Officer (CEO), reviews detailed income statements, balance sheets, and sales reports in order to assess performance of the Company. The CODM does not review assets at a different asset level or category than at the consolidated level and the consolidated statements of operations are presented to the CODM without further disaggregation. Significant segment expenses also include depreciation, amortization, and stock-based compensation, which are disclosed within the consolidated statements of cash flows. The Company does not have any significant intra-entity sales or transfers.
Sales, operating income, and net income are some of the key variables monitored by the CODM and management when determining the Company's financial condition and operating performance. The CODM uses sales, operating income (loss), and net income (loss) to evaluate income generated in deciding whether to reinvest profits into the segment or to use such profits for other purposes, such as for acquisitions or share repurchases. These key variables are also used to monitor budget versus actual results, as well as in competitive analyses by benchmarking to the Company’s competitors.
The following is a breakdown of revenue from continuing operations by product family (in thousands):
New products revenue from continuing operations consists of revenues from the sale of hardware products manufactured on 180 nanometer or smaller semiconductor processes, eFPGA IP license and eFPGA-related professional services, and QuickAI. Mature products include all products produced on semiconductor processes larger than 180 nanometer.
The following is a breakdown of new product revenue from continuing operations (in thousands):
eFPGA IP and professional services revenue from continuing operations was $2.6 million and $6.2 million for the three and six months ended June 29, 2025, respectively and $2.5 million and $6.6 million for the three and six months ended June 30, 2024, respectively, which was primarily professional services revenue.
Contract assets were $3.7 million and $2.7 million as of June 29, 2025 and December 29, 2024, respectively. Contract liabilities were $0.4 million as of June 29, 2025 and $0.4 million as of December 29, 2024. In the six months ended June 29, 2025, all $0.4 million of the deferred revenues outstanding as of December 29, 2024 were recognized by the Company as revenue. Of the $0.4 million in deferred revenues as of June 29, 2025, the Company expects to recognize these revenues using the input time-based and output deliverable-based methods through the end of Q2'26. Of its remaining unsatisfied performance obligations not currently on the Company's balance sheet, the Company expects to recognize $1.1 million by the end of Q1'26, either through the input time-based method or the output method, recognizing revenue as deliverables such as IP and various technologies and training are transferred or provided to the customer. For the majority of the Company's contracts, payment schedules are in place and cash receipts will not always follow the timeline of the Company's revenue recognition policies.
The tables below present disaggregated revenues for continuing operations by geographical location. Revenue attributed to geographic location is based on the destination of the product or service. Substantially all revenues in North America were in the United States. Revenue from continuing operations in the United States was $2.9 million, or 80% of total revenue from continuing operations and $3.4 million, or 83% of total revenue from continuing operations for the three months ended June 29, 2025 and June 30, 2024, respectively, and $6.8 million, or 85% of total revenue from continuing operations and $7.9 million, or 81% of total revenue from continuing operations for the six months ended June 29, 2025 and June 30, 2024, respectively.
The following is a breakdown of revenue from continuing operations by destination (in thousands):
The following distributors and customers accounted for 10% or more of the Company's revenue from continuing operations for the periods presented:
The following distributors and customers accounted for 10% or more of the Company's accounts receivable from continuing operations as of the dates presented:
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