SEGMENT INFORMATION (Tables)
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6 Months Ended |
Jul. 03, 2026 |
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| Segment Reporting [Abstract] |
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| Schedule of Financial Information by Reportable Segments |
The following table is a reconciliation of the Company's measure of segment profit or loss, significant segment expenses and other segment items:
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Three Months Ended |
|
Six Months Ended |
(in thousands) |
July 3, 2026 |
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June 27, 2025 |
|
July 3, 2026 |
|
June 27, 2025 |
Total net revenue |
$ |
133,462 |
|
$ |
86,918 |
|
$ |
255,157 |
|
$ |
171,796 |
Less significant expenses and other segment items: |
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Cost of revenue |
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62,766 |
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|
46,774 |
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120,581 |
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|
84,912 |
Research and development expense |
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20,438 |
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|
17,161 |
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|
40,251 |
|
|
35,637 |
Selling, general and administrative |
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18,915 |
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|
16,017 |
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36,969 |
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|
32,228 |
Segment operating income |
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31,343 |
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|
6,966 |
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57,356 |
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|
19,019 |
Stock-based compensation |
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(7,284) |
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(5,655) |
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(12,848) |
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(10,672) |
Restructuring and related charges |
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— |
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(428) |
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— |
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(428) |
Asset impairment and related charges |
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(428) |
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(1,637) |
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(428) |
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(1,637) |
Segment income (loss) from operations |
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23,631 |
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(754) |
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44,080 |
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|
6,282 |
Non-operating expense, net |
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(1,661) |
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(2,282) |
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(2,782) |
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(4,214) |
Income (loss) from continuing operations before income taxes |
$ |
21,970 |
|
$ |
(3,036) |
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$ |
41,298 |
|
$ |
2,068 |
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| Schedule of Disaggregation of Revenue |
The following table provides a summary of total revenues disaggregated by type:
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Three Months Ended |
|
Six Months Ended |
(in thousands) |
July 3, 2026 |
|
June 27, 2025 |
|
July 3, 2026 |
|
June 27, 2025 |
Product sales |
$ |
104,092 |
|
$ |
70,128 |
|
$ |
195,717 |
|
$ |
141,478 |
Professional services |
|
12,924 |
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|
2,473 |
|
|
25,058 |
|
|
2,648 |
Total Appliance and integration |
|
117,016 |
|
|
72,601 |
|
|
220,775 |
|
|
144,126 |
Total SaaS and service |
|
16,446 |
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|
14,317 |
|
|
34,382 |
|
|
27,670 |
Total revenue |
$ |
133,462 |
|
$ |
86,918 |
|
$ |
255,157 |
|
$ |
171,796 |
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| Schedule of Total Revenues by Geographic Region |
The following table provides a summary of total revenues by geographic region:
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Net revenue: |
Three Months Ended |
|
Six Months Ended |
(in thousands) |
July 3, 2026 |
|
June 27, 2025 |
|
July 3, 2026 |
|
June 27, 2025 |
United States (1) |
$ |
113,364 |
|
$ |
70,016 |
|
$ |
210,579 |
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$ |
132,206 |
Other countries (1) |
|
20,098 |
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|
16,902 |
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|
44,578 |
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|
39,590 |
Total |
$ |
133,462 |
|
$ |
86,918 |
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$ |
255,157 |
|
$ |
171,796 |
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Americas |
$ |
120,603 |
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$ |
80,283 |
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$ |
227,033 |
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$ |
155,306 |
EMEA |
|
8,421 |
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|
5,776 |
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|
18,880 |
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|
14,396 |
APAC |
|
4,438 |
|
|
859 |
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|
9,244 |
|
|
2,094 |
Total |
$ |
133,462 |
|
$ |
86,918 |
|
$ |
255,157 |
|
$ |
171,796 |
(1) Revenue is attributed to countries based on the location of the customer.
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| Schedule of Revenue on Customer Concentration |
Customer Concentration
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Net revenue: |
Three Months Ended |
|
Six Months Ended |
(in thousands) |
July 3, 2026 |
|
June 27, 2025 |
|
July 3, 2026 |
|
June 27, 2025 |
Top 2 customers (2) |
$ |
84,053 |
|
$ |
52,611 |
|
$ |
155,154 |
|
$ |
109,114 |
Rest-of-Market |
|
49,409 |
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|
34,307 |
|
|
100,003 |
|
|
62,682 |
Total |
$ |
133,462 |
|
$ |
86,918 |
|
$ |
255,157 |
|
$ |
171,796 |
(2) Based on largest subscriber footprint.
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