v3.26.1
Note 14 - Segment Information and Foreign Operations
12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

Note 14. Segment Information and Foreign Operations

 

Segment Information

 

We operate in one segment for the design, development, manufacture and distribution of high-performance compound and single element semiconductor substrates and sale of raw materials integral to these substrates. In accordance with ASC Topic 280, Segment Reporting, our chief operating decision-maker (“CODM”) has been identified as the Chief Executive Officer, who reviews operating results to make decisions about allocating resources and assessing performance for the Company. Since we operate in one segment, all financial segment and product line information can be found in the consolidated financial statements. The CODM regularly evaluates consolidated net income (loss) and functional expenses, including cost of revenue, selling, general and administrative and research and development, to manage Company operations. No additional disaggregated expense categories are presented beyond those already disclosed in the primary financial statements.

 

Product Information

 

The following table represents revenue amounts (in thousands) by product type:

 

  

December 31,

 
  

2025

  

2024

  

2023

 

Product Type:

         

Substrates

 $58,900  $67,748  $47,466 

Raw materials and others

  29,426   31,613   28,329 

Total

 $88,326  $99,361  $75,795 

 

Geographical Information

 

The following table represents revenue amounts (in thousands) reported for products shipped to customers in the corresponding geographic region:

 

  

Year Ended

 
  

December 31,

 
  

2025

  

2024

  

2023

 

Geographical region:

         

China

 $55,076  $56,119  $39,778 

Taiwan

  13,039   14,098   8,651 

Japan

  4,906   4,979   4,641 

Asia Pacific (excluding China, Taiwan and Japan)

  2,441   2,818   3,814 

Europe (primarily Germany)

  11,156   13,766   12,315 

North America (primarily the United States)

  1,708   7,581   6,596 

Total

 $88,326  $99,361  $75,795 

 

Long- lived assets consist primarily of property, plant and equipment, and operating lease right-of-use assets are attributed to the geographic location in which they are located. Long-lived assets, net of depreciation, by geographic region were as follows (in thousands):

 

  

As of December 31,

 
  

2025

  

2024

 

Long-lived assets by geographic region, net of depreciation:

      

North America

 $1,040  $1,353 

China

  162,802   160,847 
  $163,842  $162,200