Business Segments

6 Months Ended

Jul. 01, 2023

Segment Reporting [Abstract]

Business Segments

12. Business Segments

The Company operates in one segment: ophthalmology. The Company develops, manufactures and markets medical devices. Our revenues arise from the sale of consoles, delivery devices, consumables, service, and support activities.

Revenue information shown by product group is as follows (in thousands):

	Three Months Ended				Six Months Ended
	July 1, 2023		July 2, 2022		July 1, 2023		July 2, 2022
Cyclo G6	$	3,658	$	3,477	$	7,327	$	7,017
Retina		6,857		7,529		14,071		14,830
Other(1)		2,340		2,749		5,163		5,295
Total revenues	$	12,855	$	13,755	$	26,561	$	27,142

(1) Includes service contract revenues of $382 thousand and $402 thousand and $765 thousand and $764 thousand recognized during the three and six months ended July 1, 2023 and July 2, 2022, respectively. Includes $363 thousand and $357 thousand and $727 thousand and $634 thousand recognized revenue related to the exclusive distribution rights during the three and six months ended July 1, 2023 and July 2, 2022, respectively. Other also includes revenues from paid service, royalty, freight and legacy G probes.

Revenue information shown by geographic region, based on the sales destination, is as follows (in thousands):

	Three Months Ended				Six Months Ended
	July 1, 2023		July 2, 2022		July 1, 2023		July 2, 2022
United States	$	6,742	$	6,849	$	13,516	$	13,391
Europe, Middle East and Africa		2,843		2,821		7,020		6,252
Asia/Pacific Rim		2,482		3,185		4,625		6,039
Rest of Americas		788		900		1,400		1,460
Total revenues	$	12,855	$	13,755	$	26,561	$	27,142

Revenues are attributed to countries based on the location of end customers.

Other than the United States, the Netherlands accounted for at least 10% of the Company’s revenues during the three and six months ended July 1, 2023, representing 12% and 14%, respectively. Other than the United States, no individual country accounted for at least 10% of the Company’s revenues during the three and six months ended July 2, 2022. The United States accounted for 52.4% and 49.8% of revenues for the three months ended July 1, 2023 and July 2, 2022, respectively, and 50.9% and 49.3% for the six months ended July 1, 2023 and July 2, 2022, respectively.