v3.26.1
Segment and Geographic Information
 6 Months Ended
Jul. 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 represent the difference between segment revenue and segment net income (in thousands):
Three-months EndedSix-months Ended
July 5, 2026June 29, 2025July 5, 2026June 29, 2025
Revenue$291,263 $249,093 $559,700 $465,129 
Less:
Cost of revenue (1)
85,490 81,217 162,988 152,930 
Gross profit205,773 167,876 396,712 312,199 
Less:
Research, development, and engineering expenses
Salaries and fringe benefits18,965 19,557 38,039 37,831 
Incentive compensation (2)
2,296 2,368 4,320 3,439 
Stock-based compensation3,388 3,443 8,482 8,139 
Depreciation and amortization472 737 974 1,492 
Other segment expenses (3)
7,270 6,997 17,601 16,928 
Total research, development, and engineering expenses32,391 33,102 69,416 67,829 
Selling, general, and administrative expenses
Salaries and fringe benefits41,823 44,440 86,849 86,635 
Incentive compensation (2)
13,693 13,858 28,019 24,740 
Stock-based compensation7,232 8,314 13,146 12,889 
Depreciation and amortization3,372 4,118 7,038 8,279 
Other segment expenses (3)
21,745 20,611 46,854 42,302 
Total selling, general, and administrative expenses87,865 91,341 181,906 174,845 
Operating income85,517 43,433 145,390 69,525 
Foreign currency gain (loss)(862)(1,503)(2,207)(3,956)
Investment income5,091 4,040 9,927 8,030 
Other income (expense)(446)2,092 (2,053)2,261 
Income before income tax expense89,300 48,062 151,057 75,860 
Income tax expense16,544 7,551 26,597 11,746 
Net income$72,756 $40,511 $124,460 $64,114 
(1) Cost of revenue includes depreciation and amortization expense (including amortization of acquired technologies) of $3,036,000 and $6,103,000 for the three-month and six-month periods ended July 5, 2026, respectively, and $3,144,000 and $6,162,000 for the three-month and six-month periods ended June 29, 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 $2,178,650,000 and $2,016,555,000 as of July 5, 2026 and December 31, 2025, respectively.