v3.26.1
Pay vs Performance Disclosure
number in Thousands
 2 Months Ended 10 Months Ended 12 Months Ended
Dec. 31, 2023
Oct. 23, 2023
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Pay vs Performance Disclosure              
Pay vs Performance Disclosure, Table    
Year
Principal Executive Officer (1)
Other Named Executive
Officers (2)
Value of Initial Fixed $100
Investment Based On:
Net
Income
Operating
Income
Summary
Compensation
Table
Compensation
Actually Paid (3)
Summary
Compensation
Table
Compensation
Actually Paid (4)
Total
Shareholder
Return (5)
Peer Group
Total
Shareholder
Return (6)
($)
($)
($)
($)
($)
($)
($)
($)
(In thousands, except value of initial fixed investment which are presented in whole dollars)
2025
3,222
2,833
1,390
1,200
98.90
164.80
22,962
23,889
2024
3,746
3,152
1,295
955
150.15
215.97
23,050
19,724
2023
2,159
1,886
1,519
1,289
192.44
177.93
21,504
19,050
2022
2,033
2,123
1,008
1,004
209.30
136.03
24,049
24,829
2021
2,007
4,671
859
1,736
219.51
161.44
14,269
13,831
        
Company Selected Measure Name     Operating income        
Named Executive Officers, Footnote     Includes the compensation actually paid (“CAP”) of all PEOs (current and previous).  For fiscal year 2023, the
Company’s PEOs were Messrs. Moon and Mao.  Mr. Moon was Interim President and CEO for October 23,
2023 through December 31, 2023 and Mr. Mao was President and CEO from January 1, 2023 through
October 23, 2023; salary compensation and equity awards granted related to their Board memberships have
been excluded from the above table.  For fiscal years 2021 through 2022, Mr. Mao was the Company’s only
PEO.
Includes average CAP of all NEOs (current and previous) excluding the Company’s PEO.  The following table
details the individual NEOs that were included in the respective annual calculation.
NEOs
2025
2024
2023
2022
2021
Joshua Ballard (a)
ü
ü
ü
ü
Rodney Clemente
ü
ü
ü
ü
ü
Farshad Ghasripoor (b)
ü
ü
ü
ü
Michael Mancini (c)
ü
ü
Natarajan Ramanan (d)
ü
William Yeung
ü
ü
ü
ü
ü
(a)Mr. Ballard left the Company on June 30, 2024.
(b)Dr. Ghasripoor left the Company on March 14, 2025.
(c)Mr. Mancini became the Company’s CFO effective August 5, 2024.
(d)Mr. Ramanan became the Company’s CTO effective March 3, 2025.
        
PEO Total Compensation Amount     $ 3,222,000 $ 3,746,000 $ 2,159,000 $ 2,033,000 $ 2,007,000
PEO Actually Paid Compensation Amount     $ 2,833,000 3,152,000 1,886,000 2,123,000 4,671,000
Adjustment To PEO Compensation, Footnote     In accordance with SEC rules, the following adjustments were made to determine the CAP on the Company’s
PEOs during fiscal years 2021 through 2025, which consist solely of adjustments to the PEOs’ equity awards.  In
2023, since Mr. Mao remained on the Board through the 2024 Annual Meeting and continued to provide
service to the Company, the change in fair value of his outstanding awards are based on the Company’s share
value as of December 31, 2023.
Deductions
Adjustments
Year
Summary
Compensation
Table
Stock Awards
Granted in the
Year
Fair Value of
Equity Awards
Granted in the
Year and
Unvested at
Year End
Year over Year
Change in Fair
Value of
Outstanding
and Unvested
Equity Awards
Year over Year
Change in Fair
Value of
Equity Awards
Granted in
Prior Years
that Vested in
the Year
Total
Adjustments
from Amounts
Presented in
the Summary
Compensation
Table *
Total
Compensation *
($)
($)
($)
($)
($)
($)
($)
(In thousands)
2025
3,222
(2,600)
2,401
(210)
21
(389)
2,833
2024
3,746
(2,600)
2,030
—
(24)
(594)
3,152
2023
2,159
(1,579)
1,167
(251)
390
(273)
1,886
2022
2,033
(1,000)
1,218
(101)
(28)
89
2,123
2021
2,007
(1,001)
2,161
978
525
2,664
4,671
*Amounts may not total due to rounding.
        
Non-PEO NEO Average Total Compensation Amount     $ 1,390,000 1,295,000 1,519,000 1,008,000 859,000
Non-PEO NEO Average Compensation Actually Paid Amount     $ 1,200,000 955,000 1,289,000 1,004,000 1,736,000
Adjustment to Non-PEO NEO Compensation Footnote     In accordance with SEC rules, the following adjustments were made to determine the CAP on average to the
Company’s non-PEO NEOs during fiscal years 2021 through 2025, which consist solely of adjustments to the
non-PEO NEOs’ equity awards.
Deductions
Adjustments
Year
Summary
Compensation
Table
Stock
Awards
Granted in
the Year
Fair Value
of Equity
Awards
Granted in
the Year
and
Unvested
at Year
End
Year over
Year
Change in
Fair Value
of
Outstanding
and
Unvested
Equity
Awards
Year over
Year Change
in Fair Value
of Equity
Awards
Granted in
Prior Years
that Vested
in the Year
Fair Value
at the End
of the Prior
Year of
Equity
Awards
that Failed
to Meet
Vesting
Conditions
in the Year
Total
Adjustments
from Amounts
Presented in
the Summary
Compensation
Table *
Total
Compensation *
($)
($)
($)
($)
($)
($)
($)
($)
(In thousands)
2025
1,390
(933)
838
(85)
(9)
—
(189)
1,200
2024
1,295
(791)
759
(98)
(67)
(142)
(339)
955
2023
1,519
(979)
729
(70)
90
—
(230)
1,289
2022
1,008
(444)
508
(31)
(37)
—
(4)
1,004
2021
859
(331)
629
388
191
—
877
1,736
*Amounts may not total due to rounding.
        
Compensation Actually Paid vs. Total Shareholder Return     The following graph presents the relationship between CAP to the Company’s PEOs and
the average of all of the Company’s NEOs, excluding the PEOs (current and prior), and to the
cumulative TSRs of the Company and the Company’s peer group.
283
        
Compensation Actually Paid vs. Net Income     The following graph presents the relationship between CAP to the Company’s PEOs and
the average of all of the Company’s NEOs, excluding the PEOs (current and prior), and to the
Company’s operating and net income.
252
        
Compensation Actually Paid vs. Company Selected Measure     The following graph presents the relationship between CAP to the Company’s PEOs and
the average of all of the Company’s NEOs, excluding the PEOs (current and prior), and to the
Company’s operating and net income.
252
        
Total Shareholder Return Vs Peer Group     The following graph presents the relationship between CAP to the Company’s PEOs and
the average of all of the Company’s NEOs, excluding the PEOs (current and prior), and to the
cumulative TSRs of the Company and the Company’s peer group.
283
        
Tabular List, Table     •Revenue
•Gross margin
•Operating expenses
•Operating income
•Earnings per share
        
Total Shareholder Return Amount     $ 98.90 150.15 192.44 209.30 219.51
Peer Group Total Shareholder Return Amount     164.80 215.97 177.93 136.03 161.44
Net Income (Loss)     $ 22,962,000 $ 23,050,000 $ 21,504,000 $ 24,049,000 $ 14,269,000
Company Selected Measure Amount     23,889 19,724 19,050 24,829 13,831
PEO Name Mr. Moon Mr. Mao       Mr. Mao Mr. Mao
Additional 402(v) Disclosure     Cumulative total shareholder return of the Company’s common stock for each fiscal year from 2022 through
2025, respectively.  Assumes the investment of $100 in the Company’s common stock on December 31, 2021
and the reinvestment of dividends, if any, although dividends have never been declared on the Company’s
common stock.
Cumulative total shareholder return of the Company’s peer group used in 2025, as discussed above under
“Compensation Discussion and Analysis,” for each fiscal year from 2022 through 2025, respectively.  Assumes
the investment of $100 on December 31, 2021 and the reinvestment of dividends.  In addition, the weighting
of the market value of companies denominated in foreign current are revalued using the current foreign
exchange rate.
As described in greater detail in “Compensation Discussion and Analysis” above, the
Company’s executive compensation program reflects a variable pay-for-performance
philosophy.  The metrics that the Company uses for both of the long-term and short-term
incentive awards are selected based on an objective of incentivizing the Company’s executive
officers to increase the value of the Company’s enterprise for the Company’s stockholders. 
While the Company uses numerous financial and non-financial performance measures for the
purpose of evaluating performance for its compensation programs, the following is an
unranked list of financial performance measures the Company considers the most important in
linking the compensation actually paid to the Company’s NEOs for 2025 with the Company’s
performance:
        
Measure:: 1              
Pay vs Performance Disclosure              
Name     Revenue        
Measure:: 2              
Pay vs Performance Disclosure              
Name     Gross margin        
Measure:: 3              
Pay vs Performance Disclosure              
Name     Operating expenses        
Measure:: 4              
Pay vs Performance Disclosure              
Name     Operating income        
Measure:: 5              
Pay vs Performance Disclosure              
Name     Earnings per share        
PEO              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     $ (389,000) $ (594,000) $ (273,000) $ 89,000 $ 2,664,000
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     (2,600,000) (2,600,000) (1,579,000) (1,000,000) (1,001,000)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     2,401,000 2,030,000 1,167,000 1,218,000 2,161,000
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     (210,000) 0 (251,000) (101,000) 978,000
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     21,000 (24,000) 390,000 (28,000) 525,000
Non-PEO NEO              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     (189,000) (339,000) (230,000) (4,000) 877,000
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     (933,000) (791,000) (979,000) (444,000) (331,000)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     838,000 759,000 729,000 508,000 629,000
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     (85,000) (98,000) (70,000) (31,000) 388,000
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     (9,000) (67,000) 90,000 (37,000) 191,000
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     $ 0 $ (142,000) $ 0 $ 0 $ 0