v3.25.3
Segment Information (Tables)
9 Months Ended
Sep. 28, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment The following table summarizes significant segment expenses, which represents the difference between segment revenue and segment net income (in thousands):
Three-months EndedNine-months Ended
September 28, 2025September 29, 2024September 28, 20250September 29, 2024
Revenue$276,892 $234,742 $742,021 $684,831 
Less:
Cost of revenue (1)
89,602 75,343 242,532 216,896 
Gross profit187,290 159,399 499,489 467,935 
Less:
Research, development, and engineering expenses
Salaries and fringe benefits18,921 19,789 56,752 59,843 
Incentive compensation (2)
3,350 1,492 6,789 4,277 
Stock-based compensation3,794 3,707 11,933 11,636 
Depreciation and amortization612 828 2,104 2,446 
Other segment expenses (3)
8,404 9,394 25,332 29,075 
Total research, development, and engineering expenses35,081 35,210 102,910 107,277 
Selling, general, and administrative expenses
Salaries and fringe benefits43,645 44,803 130,280 134,697 
Incentive compensation (2)
15,747 11,994 40,487 35,060 
Stock-based compensation8,133 8,952 21,022 26,271 
Depreciation and amortization3,816 4,616 12,095 12,872 
Other segment expenses (3)
23,103 22,260 65,405 67,533 
Total selling, general, and administrative expenses94,444 92,625 269,289 276,433 
Operating income57,765 31,564 127,290 84,225 
Foreign currency gain (loss)840 1,221 (3,116)1,086 
Investment income4,197 3,561 12,227 9,797 
Other income (expense)61 209 2,322 581 
Income before income tax expense62,863 36,555 138,723 95,689 
Income tax expense45,199 6,964 56,945 17,864 
Net income$17,664 $29,591 $81,778 $77,825 
(1) Cost of revenue includes depreciation and amortization expense (including amortization of acquired technologies) of $3,105,000 and $9,267,000 for the three-month and nine-month periods ended September 28, 2025, respectively, and $3,374,000 and $9,512,000 for the three-month and nine-month periods ended September 29, 2024, respectively.
(2) Incentive compensation includes company bonus and sales commissions.
(3) Other segment expenses include outside services, prototyping materials, sales demonstration equipment, travel and entertainment, marketing programs, and rent, among other less significant expenses.
Segment assets amounted to $2,002,750 and $1,992,850 as of September 28, 2025 and December 31, 2024, respectively.