v3.26.1
SEGMENTS AND DISAGGREGATED REVENUE
 6 Months Ended
Jul. 03, 2026
Revenue from Contract with Customer [Abstract]  
SEGMENTS AND DISAGGREGATED REVENUE SEGMENTS AND DISAGGREGATED REVENUE
The Company operates as one operating segment. The Company's chief operating decision maker ("CODM") is its Chief Executive Officer, who reviews financial information presented on a consolidated basis. The CODM uses consolidated income from continuing operations to make key operating decisions, including resource allocations and performance assessments. Refer to the Condensed Consolidated Statement of Operations and Comprehensive Income for financial results of the Company’s operating segment.
The following table presents Property, Plant and Equipment (“PP&E”) by geographic area. In these tables, PP&E is aggregated based on the physical location of the tangible long-lived assets (in thousands):
July 3,
2026		December 31,
2025
Long-lived tangible assets by geographic area:
United States$293,618 $297,441 
Ireland152,923 160,511 
Mexico50,706 45,922 
Rest of world35,093 32,553 
Total$532,340 $536,427 
The following table presents sales by product line (in thousands):
Three Months EndedSix Months Ended
July 3,
2026		June 27,
2025		July 3,
2026		June 27,
2025
Cardio & Vascular$280,308 $286,855 $542,041 $545,726 
Cardiac Rhythm Management & Neuromodulation
173,712 171,998 341,976 332,343 
Other Markets10,090 17,641 19,673 35,817 
Total sales$464,110 $476,494 $903,690 $913,886 
Revenue recognized from products and services transferred to customers over time represented 35% and 36%, respectively, of total revenue for the three and six months ended July 3, 2026, compared to 32% and 33%, respectively, for the three and six months ended June 27, 2025.
The following tables present revenues by significant customers, which are defined as any customer who individually represents 10% or more of total revenues.
Three Months EndedSix Months Ended
July 3,
2026		June 27,
2025		July 3,
2026		June 27,
2025
Customer A18%14%18%14%
Customer B17%16%18%16%
Customer C17%21%16%21%
All other customers48%49%48%49%
(14.)    SEGMENTS AND DISAGGREGATED REVENUE (Continued)
The following tables present revenues by significant ship to location, which is defined as any country where 10% or more of total revenues are shipped.
Three Months EndedSix Months Ended
July 3,
2026		June 27,
2025		July 3,
2026		June 27,
2025
United States53%52%53%52%
Costa Rica11%*12%*
All other countries36%48%35%48%
_____
* Less than 10% of total revenues for the period.
Contract Balances
The opening and closing balances of the Company’s contract assets and contract liabilities are as follows (in thousands):
July 3,
2026		December 31,
2025
Contract assets$119,024 $112,546 
Contract liabilities (included in Accrued expenses and other current liabilities)4,466 5,213 
Contract liabilities (included in Other long-term liabilities)2,548 3,265 
During the three and six months ended July 3, 2026, the Company recognized $1.4 million and $2.8 million, respectively, of revenue that was included in the contract liability balance as of December 31, 2025. During the six months ended June 27, 2025, the Company recognized $0.6 million and $1.8 million, respectively, of revenue that was included in the contract liability balance as of December 31, 2024.