Segment Reporting

9 Months Ended

Oct. 31, 2023

Segment Reporting [Abstract]

Segment Reporting

14. Segment Reporting

The Company operates in one operating and reporting segment related to the development and sales of low-power, HD, Ultra HD video compression, image processing and computer vision solutions. The Chief Executive Officer of the Company has been identified as the Chief Operating Decision Maker (the CODM) and manages the Company’s operations as a whole. For the purpose of evaluating financial performance and allocating resources, the CODM reviews financial information presented on a consolidated basis accompanied by information by customer and geographic region.

Geographic Revenue

The following table sets forth the Company’s revenue by geographic region based on bill-to location for the periods indicated. Certain prior quarter amounts of revenue by geographic region have been adjusted to reflect the appropriate bill-to location for the related revenue. These adjustments did not impact the total revenues in any of the periods presented.

	Three Months Ended October 31,				Nine Months Ended October 31,
	2023		2022		2023		2022
	(in thousands)
Taiwan	$	27,179	$	51,306	$	91,295	$	150,595
Asia Pacific		14,300		15,309		45,378		54,724
Europe		2,869		5,310		9,058		18,472
North America other than United States		5,032		8,870		24,407		21,930
United States		1,215		2,301		4,720		8,564
Total revenue	$	50,595	$	83,096	$	174,858	$	254,285

Substantially all of the Company’s property and equipment were located in the Asia Pacific region, United States and Europe. As of October 31, 2023, the net amount of these fixed assets located in these regions was approximately $5.7 million, $3.9 million and $1.3 million, respectively. As of January 31, 2023, the net amount of these fixed assets located in these regions was approximately $6.3 million, $4.0 million and $1.5 million, respectively.

Major Customers

For the three months ended October 31, 2023, the customers representing 10% or more of revenue were WT, Hakuto and Chicony, which accounted for approximately 53.7%, 12.0% and 11.7% of total revenue, respectively. For the nine months ended October 31, 2023, the customers representing 10% or more of revenue were WT and Chicony, which accounted for approximately 52.2% and 13.9% of total revenue, respectively. For the three and nine months ended October 31, 2022, the customers representing 10% or more of revenue were WT and Chicony, which accounted for approximately 61.6% and 10.7% of total revenue for the three months ended October 31, 2022, respectively, and accounted for approximately 59.1% and 11.6% of total revenue for the nine months ended October 31, 2022, respectively. Accounts receivable with WT, Chicony and Hakuto were approximately $8.1 million, $6.0 million and $1.1 million as of October 31, 2023, respectively.