v3.26.1
Segment and Geographic Information
 3 Months Ended
Apr. 05, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company operates in one segment, machine vision technology. The Company has a single, company-wide management team that administers operations as a whole rather than as discrete operating segments. The Company’s chief operating decision maker is the chief executive officer, who assesses performance and allocates resources at the corporate level, as compared to the geography, product line, or end market levels. The Company offers a variety of machine vision products that have similar economic characteristics and are distributed by the same sales channels to the same types of customers.
The measure of segment profit or loss for the Company's single segment is net income. Segment expenses were disaggregated based on the information the chief operating decision maker uses to assess performance and allocate resources considering both quantitative and qualitative factors. The following table summarizes significant segment expenses, which represents the difference between segment revenue and segment net income (in thousands):
Three-months Ended
April 5, 2026March 30, 2025
Revenue$268,437 $216,036 
Less:
Cost of revenue (1)
77,498 71,713 
Gross profit190,939 144,323 
Less:
Research, development, and engineering expenses
Salaries and fringe benefits19,074 18,274 
Incentive compensation (2)
2,024 1,071 
Stock-based compensation5,094 4,696 
Depreciation and amortization502 755 
Other segment expenses (3)
10,331 9,931 
Total research, development, and engineering expenses37,025 34,727 
Selling, general, and administrative expenses
Salaries and fringe benefits45,026 42,195 
Incentive compensation (2)
14,326 10,882 
Stock-based compensation5,914 4,575 
Depreciation and amortization3,666 4,161 
Other segment expenses (3)
25,109 21,691 
Total selling, general, and administrative expenses94,041 83,504 
Operating income59,873 26,092 
Foreign currency gain (loss)(1,345)(2,453)
Investment income4,836 3,990 
Other income (expense)(1,607)169 
Income before income tax expense61,757 27,798 
Income tax expense10,053 4,195 
Net income$51,704 $23,603 
(1) Cost of revenue includes depreciation and amortization expense (including amortization of acquired technologies) of $3,067,000 and $3,018,000 for the three-month periods ended April 5, 2026 and March 30, 2025, 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, rent, and reorganization charges, among other less significant expenses.
Segment assets amounted to $2,005,618,000 and $2,016,555,000 as of April 5, 2026 and December 31, 2025, respectively.