Business Segments

9 Months Ended

Sep. 28, 2024

Segment Reporting [Abstract]

Business Segments

13. 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				Nine Months Ended
	September 28, 2024		September 30, 2023		September 28, 2024		September 30, 2023
Cyclo G6	$	3,127	$	3,042	$	9,416	$	10,369
Retina		6,450		7,865		20,519		21,936
Other(1)		2,004		1,943		6,038		7,106
Total revenues	$	11,581	$	12,850	$	35,973	$	39,411

(1) Includes service contract revenues of $47 thousand and $0.4 million, and $0.4 million and $1.2 million recognized during the three and nine months ended September 28, 2024 and September 30, 2023, respectively. Includes $0.4 million and $1.1 million recognized revenue related to the exclusive distribution rights during both of the three and nine months ended September 28, 2024 and September 30, 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				Nine Months Ended
	September 28, 2024		September 30, 2023		September 28, 2024		September 30, 2023
United States	$	5,464	$	6,140	$	16,383	$	19,656
Europe, Middle East and Africa		2,802		4,197		9,167		11,217
Asia/Pacific Rim		2,708		2,136		8,750		6,761
Americas, excluding the U.S.		607		377		1,673		1,777
	$	11,581	$	12,850	$	35,973	$	39,411

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 nine months ended September 28, 2024, representing 13.1% and 15.2%, respectively. Other than the United States, the Netherlands accounted for at least 10% of the Company’s revenues during the three and nine months ended September 30, 2023, representing 20% and 16%, respectively. The United States accounted for 47.2% and 47.8% of revenues for the three months ended September 28, 2024and September 30, 2023, respectively, and 45.5% and 49.9% for the nine months ended September 28, 2024 and September 30, 2023, respectively.