Business Segments

6 Months Ended

Jun. 29, 2024

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
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Cyclo G6	$	3,336	$	3,658	$	6,289	$	7,327
Retina		7,295		6,857		14,069		14,071
Other(1)		2,000		2,340		4,034		5,163
Total revenues	$	12,631	$	12,855	$	24,392	$	26,561

(1) Includes service contract revenues of $0.1 million and $0.3 million, and $0.4 million and $0.8 million recognized during the three and six months ended June 29, 2024 and July 1, 2023, respectively. Includes $0.4 million and $0.7 million recognized revenue related to the exclusive distribution rights during both of the three and six months ended June 29, 2024 and July 1, 2023, 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
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
United States	$	5,598	$	6,742	$	10,919	$	13,516
Europe, Middle East and Africa		2,667		2,843		6,365		7,020
Asia/Pacific Rim		3,597		2,482		6,042		4,625
Americas, excluding the U.S.		769		788		1,066		1,400
	$	12,631	$	12,855	$	24,392	$	26,561

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 June 29, 2024, representing 12% and 14.5%, respectively. 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. The United States accounted for 44.3% and 52.4% of revenues for the three months ended June 29, 2024 and July 1, 2023, respectively, and 44.8% and 50.9% for the six months ended June 29, 2024 and July 1, 2023, respectively.